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Electronics Company LG Philips recently announced it was to close its manufacturing plant at Durham, with the loss of some 761 jobs. Closure of the facility is blamed on the Dutch-Korean group’s failure to invest in new products, such as flat-screen displays. On the same day, Abbey announced it will be closing its call centre in Gateshead – with the loss of a further 235 jobs – following its acquisition by Banco Santander, Spain’s largest bank.


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