BA Owner Faces Strike Threat Over Job Cuts

Staff at Spanish airline Iberia have rejected a restructuring plan that involves 4,500 job cuts and are willing to strike, labour unions said. The threat of industrial action comes after IAG - the company formed by merging BA and Iberia - revealed an...

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Treasury Gets £35bn Windfall From QE Interest

The Treasury is to receive a £35bn boost as part of a deal with the Bank of England that will effectively reduce public debt. Chancellor George Osborne and Bank Governor Sir Mervyn King have agreed that the BoE will give the Treasury interest earned...

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Olympic Stadium: Dismay Over Delayed Future

By Enda Brady, Sky News Correspondent Olympic and Paralympic champions have voiced their dismay at news that the stadium may not open fully until the summer of 2016. Four bids are still being considered as full-time tenants at the Stratford venue,...

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Bank Of England Adopts QE 'Wait And See'

The Bank of England (BoE) has announced it will not pump more money into the UK economy this month. The move follows the country's official exit from recession - but the BoE will be watching the recovery closely. It was a decision widely expected...

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Collapsed Comet 'Massive' Sale Slated Online

Customers who rushed to a sale at Comet have expressed disappointment over the level of discount. The electronics retailer had announced a "massive stock liquidation" ahead of store closures as early as next week, but angry shoppers took to Twitter...

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BA Owner IAG Hit By Iberia Performance

IAG - the company formed by merging BA and Iberia - made an operating profit of just £13.5m in the nine months to September 30. The results show Iberia is the weak link in the group, making a standalone operating loss of £209m in the period, while BA...

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Supermarkets Cut Petrol Prices By Another 2p

Three supermarket chains have cut their petrol prices again, reducing the cost of fuel by 2p at pumps across the nation. Asda was the first to announce the discount, which follows similar reductions towards the end of last month. It will now charge...

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Violence As Greece Passes Austerity Measures

Greek police have used water cannon and tear gas to quell violent protests, as politicians voted to impose fresh austerity cuts. Around 100,000 protesters marched to the main square outside the parliament building in Athens to protest the £10.7bn cuts...

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World Stock Markets Fall After Obama Victory

Four More Years: A City Expert's View Updated: 6:25am UK, Thursday 08 November 2012 By David Buik, Cantor Index There is a considerable school of thought that Barack Obama was rather an insipid and ineffectual Commander-in-Chief and that his first...

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M&S 'Taking Action' As Profits Take A Tumble

Marks and Spencer has reported a fall in underlying pre-tax profit to £297m for the first half of this year and pledged further moves to drive sales. The chain, which is 18 months into a three year transformation plan, blamed pressure on consumers'...

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Pay Gap In Reverse As Women Work 'For Free'

The gender pay gap is so large that women will effectively work the rest of the year for free, it is claimed. A study by the campaign group Fawcett Society suggests that, rather than improving, the pay and jobs prospects of women are going into...

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Burberry's Profit Falls, But Brand 'Strong'

Burberry reports a fall of almost 30% in profit in the first half of this year, but insists its brand "remains strong". It said pre-tax profit over the six months to the end September was £112m - which includes one-off items worth £61m - compared with...

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Romney Win 'Could Boost Dow By 500 Points'

The Dow Jones industrial index might be boosted by up to 500 points if Republican presidential hopeful Mitt Romney wins the election, it has been claimed. The Centre for Economic Business Research (CEBR) said the bounce could occur before Mr Romney,...

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BRC: Retail Sales Fall Ahead Of Christmas Rush

Retail sales have grown at their slowest pace for almost a year as shoppers stick to buying only essential items, according to new research. Like-for-like sales were down 0.1% in October, compared with the same period last year, a study by the British...

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Marks And Spencer Reports Fall In Profit

Marks And Spencer has reported a fall in underlying pre-tax profit to £297m for the first half of this year. The chain blamed pressure on consumers' disposable incomes and volatile trading conditions - hit by bad weather - for the figure, which compares...

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HSBC Hit By £500m Money Laundering Charge

By Mark Kleinman, City Editor HSBC will tomorrow prolong the latest wave of financial penalties for Britain's banks by setting aside hundreds of millions of pounds more to cover settlements for breaching anti money-laundering rules. I have learned...

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Ryanair Sees Profit Soar 10% In First Half

Ryanair has reported an after-tax profit of 596m euro (£477m) for the first half of 2012, up 10% on the same period last year. The budget airline's results beat analysts' expectations thanks to a surge in passenger numbers over the summer and a lower...

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Delicate Diplomacy On Cameron Gulf Arms Tour

David Cameron is starting a three-day tour of the Gulf and Middle East today in a bid to cement major UK arms sales and bolster relations with allies in the region. The Prime Minister will personally spearhead a push to persuade the United Arab Emirates...

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RBS Confirms £1.2bn Loss After PPI Hit

RBS has confirmed it made a loss before tax of £1.2bn in the third quarter, compared with a profit of £2bn for the same period last year. As revealed by Sky's City Editor, the bank has set aside a further £400m for the mis-selling of payment protection...

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Car Insurance Cost Fall 'Will Not Last'

Car insurance premiums are said to have gone into reverse gear by £360 (13.6%) for young drivers - but there are concerns costs could rise dramatically after next month's EU gender ruling. Insurance comparison site Confused.com has advised 17 to 20-year-old...

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Comet Collapse: Gift Vouchers Suspended

Gift vouchers for stricken electrical retailer Comet have been suspended, the chain's administrator has confirmed. Deloitte, which was appointed on Friday, has launched an "urgent" search for a buyer to protect some 6,600 jobs at the 236-outlet chain....

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