Which is why Tesco is agreeing with City analysts that in the current year, group profits will barely increase at all, even with further growth in Asia and Eastern Europe, and an expected reduction in losses at the group's controversial US business, Fresh and Easy.

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So far he's assembled a team of designers and promises to name a current Big Three group vice president as chief executive early next year.

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But the group said if current exchange rates continue, operating profits this year could be reduced by 10%.

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The experiment was launched again last year and attracted an international group of playwrights, all mulling current economic and political issues.

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In April of this year, a group of scientific experts came together at the University of Oxford to discuss the current state of our oceans.

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Over the first half of the year the Wigan-based group has closed 96 stores and axed 700 jobs as it battles the current slowdown on the High Street.

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