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Retail sales enjoyed their fastest July growth in seven years, thanks to demand for beer, sun cream, swimwear and barbecue food. Manufacturing output rose by 1.9 per cent in June, following declines in both April and May. Lloyds Banking Group announced profits of £2.1 billion for the first half of the year and António Horta-Osório, its chief executive, said he expected it to pay out 70 per cent of profits in dividends by 2015.
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