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The Independent UK
The Independent UK
Business
Zlata Rodionova

The 10 biggest business stories on Monday October 26

1.    China's ruling Communist Party opens a key meeting on Monday that will focus on financial reforms and how to maintain growth of around 7 per cent.

2.    The House of Lords will vote on the government's controversial tax credits legislation later on Monday.

3.    The towns of Virginia Water and Cobham, in Surrey, have become Britain's first million pound towns - where average house prices are more than £1 million according to research based on data from the Land Registry for the first half of 2015.

4.    Barclays is recovering from tech glitches, after customers reported difficulties accessing money in their accounts and in making payments. Some reported having their debit cards blocked over Saturday and Sunday, the BBC reports.

5.    Aberdeen Asset Management, Europe’s second-largest fund house is looking for a buyer, according to The Financial Times. 

6.    Hargreaves Lansdown has hired Jayne Styles as an independent non-executive director and chairman of the asset manager's investment committee.

7.     US regulators are expanding their probe into Deutsche Bank as a money laundering investigation of a Moscow unit has widened into possible sanctions violations, the Financial Times reported, citing sources.

8.    Toyota sold 7.49 million cars in the nine months to 30 September, making it the largest car company in the world by sales.

 

9.    Philips on Monday reported better-than-expected quarterly profits on cost cutting and strong orders for its US healthcare business, but said the sale of its Lumileds division, worth $3.3 billion, is in doubt, due to US regulators concerns.

10.    Facebook is seducing the banking industry. Bankers might soon be using Facebook to communicate with colleagues, swap information and even offer banking services to their customers through the social network, after Royal Bank of Scotland became the world’s first bank to adopt Facebook at Work, the Financial Times reports.

 

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