That this is happening says a good deal about the culture and, by extension, recent business performance of MLB.

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There has also been a more subtle reason for the rise in commodity prices and, by extension, the comparatively stellar performance of the Australian stockmarket.

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Lord Philip Hunt, who called for London Midland to have the franchise taken away last year, said he was "absolutely shocked" to hear about the two-year extension after the company's "appalling performance".

BBC: London Midland rail franchise extended