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Quickening the pace of reform will strengthen EU Faster Payments processes one million transactions in a day Strengthening innovation, deepening the single market and moving to a low carbon economy are among the areas where reform needs to be accelerated to strengthen long-term growth in the European Union after the worst recession in 50 years, according to a new OECD report. APACS, the UK payments association, has provided an update on the new Faster Payments Service as the first three months have come to an end since its phased rollout started on 27 May. READ MORE

The Situs Companies continue European expansion Ultimate Finance Group plc full year results
The global commercial real estate advisory firm The Situs Companies announced further growth in its European business with the recent acquisition of GSSG, a leading German loan servicing company, which is now part of Situs Global Servicing (SGS). Ultimate Finance Group plc, the AIM-quoted factoring, invoice discounting and financial solutions provider to the SME sector, announces its full year results for the year ended 30 June 2008. READ MORE

High energy bills cause inflation to rise again
Consumer prices index (CPI) annual inflation rose to 4.7% in August, up from 4.4%, as rises in gas and electricity bills took effect.