Thomas Cook plans closure of 200 stores in the UK

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Source: BBC

Thomas Cook, a large travel agency, announced it would close about 200 stores in the UK in two years as compared to 125 close downs previously reported. About 661 people lost jobs on Wednesday due to closure of 115 stores. The closures and layoffs followed the Thomas Cook's report on ВЈ398m loss for 2011.

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Wed, 14 Dec 2011 14:53:46 GMT

Germany's growth is likely to slow down

The pace of economic expansion of Germany is expected to decrease to 0.4% next year due to weak world's economy and debt crisis in the euro-zone, reported Ifo Institute. The institute predicts the GDP to expand by 3% in 2011 after 3.7% increase last year. The company outlined high instability in the euro-zone as the major factor that may severely impact Germany.

Wed, 14 Dec 2011 15:10:56 GMT

Nikkei slightly lower on Wednesday

Japan's Nikkei Stock Average declined 0.39% or 33.68 points to 8,519.13 as markets anticipated Fed report it will not apply expansionary monetary policy to stimulate growth. On the downside were resource companies with Mitsui Mining & Smelting Co tumbling 1.4% and JFE Holdings Inc dropping 0.9%  Export dependent Japanese car producers also extended their loss: Honda Motor Co declined 2.2% and Suzuki Motor gave up 1.1%. On the upside were energy

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