Hobbycraft-Owner Modella Buys About Half of Claire's UK Stores Out of Bankruptcy

Hobbycraft-owner Modella Capital has bought just over half of U.S.-based jewellery chain Claire's stores in Britain and Ireland, saving around 1,000 jobs, the administrators of the UK and Irish business said on Monday, Reuters reported. Investment company Modella, which bought WH Smith's British high street business for $100 million in June, will buy 156 Claire's stores from administrators Interpath Advisory for an undisclosed amount. The administrators will continue to operate the remaining stores while continuing to assess options for them, Interpath said.
United Kingdom
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Council Emergency Action to Protect Health Support

A council took emergency action to safeguard a health and social care service after its previous provider went into liquidation, BBC.com reported. Peterborough City Council, which leads the Integrated Community Equipment Service (ICES) on behalf of Cambridgeshire County Council and the Cambridgeshire and Peterborough Integrated Care Board, terminated its contract with Nottingham Rehab Limited (NRS) in July following insolvency issues with the company. The service provides health and social care equipment and some housing adaptations for residents.
United Kingdom
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Spain Inflation Picks Up Pace as ECB Looks Set to Keep Holding Rates in Place

Consumer prices picked up pace in Spain, further cementing expectations that the European Central Bank will continue to hold off on any further cuts to interest rates, the Wall Street Journal reported. Prices rose 3.0% on year this month in the eurozone’s fourth-largest economy, according to EU-harmonized figures released Monday. That marks an acceleration from the 2.7% rate registered in August, and hitting the highest level since June last year. Rate setters at the ECB consider an annual rate of 2% to be optimal.
Spain
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Germany Assumes 15% U.S. Tariff Rate Will Apply to Pharma, Heavy Trucks

Germany expects the United States to apply a 15% tariff rate to pharmaceuticals and heavy trucks, a government spokesperson said during a regular press conference on Monday, Reuters reported. U.S. President Donald Trump unveiled sweeping new import tariffs last week, including 100% duties on patented drugs and 25% levies on heavy-duty trucks, triggering fresh trade uncertainty.
Germany
United States
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