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The owner of one of the largest Harris Tweed producers has handed the firm over to its manager for free. Yorkshire businessman Brian Haggas, who took over Stornoway-based Kenneth Mackenzie Ltd in 2006, said he believed Harris Tweed "should be owned and produced by the islands and any profits should

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Marks & Spencer (M&S) is due to drop out of the FTSE 100 index after its value fell below the threshold for inclusion. This is the first time the company will drop out of the index since it was established 35 years ago.

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The Restaurant Group, Wagamama's parent company, has experienced a £100 million write-down and must put on hold its plans for US expansion of its Wagamama stores. The Restaurant Group has experienced significant losses as part of Britains' casual dining crunch.

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