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The 10 biggest business stories on Thursday November 26
US burger chain Good Stuff to open on Leicester Square; Tesco settles US lawsuit over profit overstatement; Lloyds Banking Group is poised to announce plans to cut 1,000 jobs
4. Tesco has agreed to pay a $12 million payout disgruntled US investors who sued over the £263 million profits blackhole discovered last year.
5. Lloyds Banking Group is poised to announce plans to cut 1,000 jobs as part of a digitally-focused restructuring unveiled last year, according to Financial Times.
6. Music streaming service Deezer has introduced a “Family Plan” as it looks to keep up with competitors like Spotify and Apple Music.
7. Chinese insurers are expected to spend $73 billion in acquiring overseas properties over the next five years as they speed up diversification, according to a research report published on Wednesday by real estate services firm DTZ/Cushman & Wakefield, South China Morning Post reports.
8. William Lamb, chief executive officer of Lucara Diamond, wants $60 million for the world’s second-biggest ever diamond.
Business news: In pictures
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9. Apple is adding Stevie Wonder to the list of celebrities to endorse its brand with an idyllic new holiday commercial, starring the R&B singer and his family, released just in time for Thanksgiving in the US.
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