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CBI calls for 1% cut in base rate

The Confederation of British Industry is calling for a 1% base rate cut over the next nine months to combat a further decline in economic output. The CBI has slashed its growth forecast for 2008 from 1.7% to 1.1% and for 2009 from 1.3% to 0.3%.

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End of era for US banks

America’s last two investment banks Goldman Sachs and Morgan Stanley have changed their status to become bank holding companies.

Best buys down by up to 1.16%

Best buy rates have been slashed by up to 1.16%, says Mform.co.uk. The six-week average fall is 0.5%.

Prestbury finalises deal with PTFS

Prestbury Financial has today signed the deal that will see the transfer of all of its appointed representatives to rival network Personal Touch Financial Services.

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