The other three trade bodies that agreed to the new charter are the BCCA, a trade association for lenders offering short-term loans, the Consumer Credit Trade Association and the Finance and Leasing Association.

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He admits that trade unions had hoped to use the charter to attack the Thatcher labour laws, such as one barring secondary picketing, but says that is now impossible.

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The company rose on the growth in global trade, particularly iron ore demand from China, which pushed charter rates higher.

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