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Business headlines at 18:49

Over 1,000 To Go In M&S Job Cull
High street chain Marks & Spencer is to axe more than 1,000 jobs as economic gloom continues to grip the high street, Sky News understands.

Retailers Receive Festive Boost
High street retailer Co-op has joined Debenhams and Next in reporting better-than-expected Christmas sales.

Russian Gas Crisis Spreads West
Gas supplies to central Europe are under threat as a price row between Russia and the Ukraine escalates.

Record Annual House Price Falls
House prices fell 15.9% last year - the biggest annual drop on record, Nationwide says.

'Ad Urges People To Take Sickies'
A new advert for a cold and flu remedy encourages people to "throw a sickie", according to infuriated business leaders.

Tesco Fires New Price War Salvo
Tesco is launching a £100m price cutting campaign as the supermarket pricing war hots up.

Ban On Short-Selling Is Lifted
A ban on the short-selling of UK financial sector shares will be lifted even though MPs want an extension.

All Woolies Stores Finally Close
In a last hurrah that's spanned 2008 and 2009, the last remaining Woolworths stores finally close today.

Consumer Confidence At Record Low
Consumer confidence has plunged to a record low in the wake of continuing massive job losses in the UK economy, the latest research shows.

Church Offers Prayers For Jobless
If you've been left on a wing and prayer after losing your job then help is at hand.