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Morning business round-up: Greek confidence vote won


What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Greece topped the news table again on Wednesday - with some rare good news after , held late last night.

Even so, that merely paved the way for the next stage in the continuing crisis - the vote on highly unpopular austerity measures - and

But since that vote is yet to come, the UK turned its attention to domestic concerns. The consumers' organisation which now apply to more than 40% of UK mortgage borrowers.

It said that lenders were squeezing profits out of people whose mortgages were standard variable rate ones, with interest rates of 6% in some cases, 12 times the record low base rate of 0.5%.

And that low interest rate looks here to stay for the next few months at least, after the

The panel voted 7-2 in favour of leaving borrowing charges where they were, despite inflation at double the target of 2%.

To international company news, which kicks off with

The Australian carrier agreed to accept 95m Australian dollars ($100m; £62m) for a mid-air blast incident in a Rolls-Royce engine which lead to the grounding of the Qantas fleet of superjumbos.

The compensation helped boost Qantas' pre-tax profit for the year ending 30 June 2011 to between A$500-550m.

media captionBiz Heads

Elsewhere, the Dutch consumer electronics and lighting giant .

Shares fell 10% after it said falling demand in western Europe would hit second-quarter profits.

Falling demand also hit .

The budget fashion chain, which is the world's second-largest fashion retailer, said its gross profit margin fell from 65.9% a year ago to 61.7% and profits were down 18% in the second quarter.

Finally, we return to the burning issue of Greece. Today's Business Daily podcast asks: Should Greece default on its debts and leave the euro? Listen in to hear of the sacrifices being made in Athens - and the options open to the struggling country.