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Bank of England: Gertjan Vlieghe named as new MPC member

Senior economist at hedge fund returns to Bank of England, replacing David Miles on rate-setting committee

Chancellor George Osborne has announced that Gertjan Vlieghe, a senior economist at hedge fund Brevan Howard, will replace David Miles on the Bank of England’s monetary policy committee.

The move marks a return to the Bank for the dual British-Belgian national Vlieghe, who was economic assistant to the previous governor Lord Mervyn King. He left that post to work as a bond strategist at Deutsche Bank in London before moving to Brevan Howard, where he is a partner.

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Source: The Guardian Circular Economy RSS

Tesco to stop selling lunchbox-size sugary Ribena and Capri-Sun

High-sugar drinks withdrawn over concerns about childhood obesity, but supermarket will still sell ‘no added sugar’ versions and larger bottles for adults

Sugary drinks designed for children’s school lunchboxes are to be withdrawn from sale at Tesco amid concern over childhood obesity.

From September, Tesco will stop selling pouches and cartons of high-sugar Ribena, Capri-Sun and Rubicon drinks that have been popular with parents, often marketed as “fun”, “perfect for on the go” and “your daily dose of Vitamin C”.

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Source: The Guardian Circular Economy RSS

Next raises profit expectations after warm weather helps sales

Forecast for full-year profits is increased to £825m after sales rise of 3.3% in the six months to 25 July

Next has increased its profit expectations for the year by 2% after warm weather helped to increase sales.

Shares in the clothing and homewares retailer rose 2% to £76.55, close to a five-year high, as it said total sales were up by 3.3% in the half-year to 25 July. Previously, Next’s chief executive, Simon Wolfson, had predicted sales would increase by between 0% and 3%.

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Source: The Guardian Circular Economy RSS