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FTSE 100 Live: China deflation, FanDuel drives Flutter profit, US banks downgraded

European markets have risen despite figures showing China in deflation territory. The 0.3% year-on-year decline in consumer prices for July comes a day after poor trade figures, when exports and imports both declined by double-digit percentages. Today’s corporate results include a profitable half year for Paddy Power owner Flutter Entertainment after it benefited from strong growth at its US-based FanDuel sports betting business. ....

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Housebuilder Bellway to cut jobs as mortgage rates bite

UK housebuilder Bellway on Wednesday delivered a pessimistic outlook on near-term trading, blaming current “challenging” market conditions on the recent surge in mortgage rates and the end of the Help-to-Buy scheme. ....

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