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The latest business and finance news from around the world, on the BBC.

World Business Report: US Economic Growth Figures get Double Boost

31/07/2013

US Economic Growth Figures get Double Boost

BBC World Service - World Business Report, US Economic Growth Figures get Double Boost

The US economy grows faster than expected and previous figures get an upward revision

The US economy grows faster than expected and data revisions give its overall size a boost. Plus, how the Bank of England helped Nazi Germany sell looted gold.

The US economy is growing at an annual rate of 1.7% - faster than many were expecting. And, revisions to previous growth figures have added almost $400bn (£260bn) to its size overnight, by including long-term investments in things like films and music. 

One of the world's biggest drinks companies, Diageo, reports a 5% increase in annual sales. We hear from the company's new chief executive, Ivan Menezes. Plus, we find out how the recession in Spain is affecting one of its most famous sports - bullfighting. 

A previously unpublished history of the Bank of England reveals it helped sell gold seized by Nazi Germany when it invaded Czechoslovakia in 1939. And one of the world's two potash cartels is splitting, which could lead to big price falls for the essential fertiliser ingredient.

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