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Spain bank deal

Spain's Banco Popular has agreed to buy Citi's retail banking and credit card business in Spain, a sign that foreign banks are retreating from the country's financial services market in the wake of the financial crisis.

Popular said it would take on about 950 employees and 45 branches from Citi as part of the deal, as well as €2bn worth of deposits and 1.1 million credit cards.

RETAILER SHAKE-UP

American Apparel founder Dov Charney, who was fired as the retailer's chairman last week, said he wanted to talk to the company about shaking up its management.

Charney, the largest shareholder in the company with a 27.2pc stake, said in a regulatory filing that he had been approached by "certain persons" who had expressed support for his continued leadership.

American Apparel's board ousted Charney last week citing his alleged misuse of company funds and role in disseminating nude photos of an ex-employee.

ORACLE'S MICROS DEAL

Oracle Corp said it would buy Micros Systems in a $5.3bn (€3.9bn) deal as the world's second biggest business software maker looks to boost flagging growth through acquisitions.

The purchase of Micros, which makes point-of-sale hardware and software for restaurants and hotels, is the first multi-billion dollar acquisition by Larry Ellison-led Oracle in five years and follows disappointing fourth-quarter results.

SUPPLIER SPEED-DATING

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LOCAL suppliers are being given the opportunity to pitch their wares to the trading directors of SPAR International.

The shop brand's international team, which controls buying power of up to €20bn, are in Dublin this week for the annual 'speed dating' expo.

Donegal-based Mulrines which specialises in juices, smoothies and sauces, and Mackle Petfoods from Armagh are two firms meeting with SPAR International.

SHOPPING RESEARCH

ONLY 2pc of shoppers do their full grocery shop in one store, while 90pc say that price is one of the main contributing factors when choosing where to shop.

Research conducted by Visualise, shopper marketing specialists, found consumers also rated quality of fresh produce and range of products on offer. The average shopper shops two to three times a week and spends a lengthy 31-45 minutes in-store.


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