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Co-op Group announces £2.5bn losses

17 April 2014 Last updated at 23:22 BST

The boss of the Co-operative Group says it has been the "most disastrous year in the group's 150 year history" after announcing annual losses of £2.5bn.

Most of the losses are a result of the crisis that engulfed the Co-op's banking arm.

The huge losses could mean job cuts, but the Co-op says that is a last resort.

Kamal Ahmed reports.

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