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LONDON - Alliance & Leicester has announced that it would be axing 350-poaper processing jobs by the end of 2006 in order to improve efficiency and cut down the retail costs of banking. This move will save around £10 million per year for the seventh-largest mortgage bank in the UK.

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LONDON - The Bank of England’s rate setting Monetary Policy Committee is all set to leave the rates unchanged when it meets for the first time this year on Thursday, but market gurus are calling for a speedy rate cut in order to kick start the economy.

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