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Page last updated at 07:43 GMT, Wednesday, 2 July 2008 08:43 UK

Are we now in a recession?

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Are we now in a recession? Marks and Spencer has reported a slump in sales, 5% down year on year. Construction industry giant Taylor Wimpey has also announced that it is unable to shore up its finances. M&S Chairman Sir Stuart Rose, Nick Edwards, of Construction News, and businessman Sir Martin Sorrell respond.

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