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Read this: Can new BT boss Ian Livingston see the big picture? - Times Online

Summary: The last time that the index slipped below the 50 mark that separates growth and contraction was when heavy snowfall brought the nation to a standstill in December 2010. The gloomy news took its toll on Britains standing in the global credit markets its cost of borrowing rose above that of France for the first time since April 2011 as gilt yields rose to 2.12 per cent, undermining George Osbornes oft-repeated claim that the nation was a safe haven for capital. Taken with poor figures from the manufacturing and construction sectors this week, the picture drawn by the services data was the worst quarterly performance for three and a half years and points to the economy shrinking by about 0.2 per cent in the final quarter of the year. - link

Can new BT boss Ian Livingston see the b…

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