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BT to trial 1GB broadband

British government's plan for creating the best broadband network in Europe by 2015 received a big boost as telecommunications giant BT announced a super-fast 1GB broadband service.

BT will start trials of the super-fast service at Kesgrave in Suffolk in early 2011. Trials will take place at as many as forty locations across Britain. However, the complete list of towns to be involved in the BT trials are yet to be announced.

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FTSE slipped after crossing 5,900 levels

Uncertainty over A380 engines triggered the slipping of engine maker Rolls Royce shares and the Britain's top shares were pulled down as the investors gained heavily from previous session.

By the 0908 GMT, FTSE 100 slipped by 19.32 points to reach at 5,855.87 but closed at 5,875.19 by gaining 0.4 percent. On Tuesday it just managed to cross 5,900 levels for the very first time since June 6, 2008.

Shares of the Randgold Resources, the Gold miner, jumped sharply after announcing of its third quarter budget but again fell by 2.4 percent later.
The shares of BP also lost 1.2 percent.

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Pension plans to hit small firms badly

New pension rules are going to hit UK’s smallest firms very badly by increasing their financial burden at least by £2,550 per year.

The Federation of Small Businesses (FSB) quoted that as per the Government’s new plans for workers, a typical small firm which is just employing 4 persons with a average salary of £25,000 have to find an extra of £2,550 per year, as the employees getting enrolled in the pension scheme automatically.

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BA Deal with the Cabin Crew

The group of labor union representatives has said that they were not ready to endorse a new deal between the airline and the main labor union.

This is said to have put another complexity and delayed all attempts made by British Airways PLC's to put an end to the costly dispute with cabin crew over working terms.

It was said that last month a decision had been made by BA and labor union Unite which were likely to end the dispute and reach an agreement. This deal is said to have made the cabin crew go on for a 22 days strike at the cost of over GBP150 million to airline.

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Access to Banks from Post Office

In an attempt to turn around the fortunes of the UK’s 11,500 branches, the new financial services would be offered through the Post Office. However the businesses and unions are still disappointed since the ministers have reportedly decided against a state-backed Post Office bank.

The Department for Business argued saying that this setting up of such a bank was likely to take too much time and would also not be cost effective.

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