Economy of the United Kingdom

M&S strips down

Today, the British multinational retailer Marks & Spencer officially announced plans to close 30 of its clothing and homeware shops in the United Kingdom and to convert others into food stores, according to Bloomberg.  The announcement came after the company reported sagging sales and profits this year.

Turkey's current account deficit widens

Turkey's current account deficit has widened, standing at $1.78 billion in August, up almost by $2 billion year-on-year, due to a decline in income from tourism and imports, the Central Bank said in a report on Oct. 12.
The 12-month rolling deficit rose to $31.02 billion, up from $29 billion in July, according to the report.  
      

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