Surge In First-Time Buyers 'To Fall Away'

A report suggests the number of first-time buyers rose 45% in the year to July but the surge in transactions will slow as property prices rise. The latest First Time Buyer Monitor from LSL Property Services shows that plunging mortgage rates - partly...

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US Job Stats Drive Market Stimulus 'Frenzy'

Stock markets endured a rollercoaster after the release of US employment figures - a crucial indicator on when the Federal Reserve will ease its economic stimulus. US employers added 169,000 jobs in August and much fewer in July than previously thought,...

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Royal Mail To Pledge City Dividend Bonanza

By Mark Kleinman, City Editor Royal Mail will pledge to pay hundreds of millions of pounds in dividends to City shareholders in an attempt to win private sector support for its £3bn privatisation, Sky News has learnt. The company will make the...

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BoE Holds Interest Rate At Record 0.5% Low

The UK interest rate will remain unchanged in September, the Bank of England has said, but analysts believe signs the economy is improving could see the cost of borrowing rise sooner than previously thought. Bank of England governor Mark Carney had...

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Canadians Swoop On Stake In City Broker Oriel

By Mark Kleinman, City Editor One of Canada's biggest banks is in talks to buy a stake in Oriel Securities, a leading City broking firm, as the consolidation sweeping across the sector gathers pace. Sky News understands that Canadian Imperial Bank...

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Surge In First-Time Buyers 'To Fall Away'

A report suggests the number of first-time buyers rose 45% year-on-year in July but the surge in transactions will slow as property prices rise. The latest First Time Buyer Monitor, from LSL Property Services, shows plunging mortgage rates - partly...

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Ryanair To Cut Flights Amid Profit Turbulence

Ryanair is to reduce flying schedules this winter after seeing its profit hopes dented by growing headwinds including weaker summer demand. Shares in the no-frills carrier plunged by 14% soon after it issued the profit warning, just a month after chief...

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Ex Co-Op Bank Boss Refuses Blame For Losses

The former boss of the Co-operative Bank and Britannia Building Society has told MPs he foresaw the "disastrous" failure of Co-Op to buy Lloyds branches. Speaking to the Treasury Select Committee, Neville Richardson's evidence highlighted the financial...

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Universal Credit Scheme Hit By £34m Blunders

The coalition's flagship welfare policy is overambitious, badly managed and has wasted £34m of taxpayers' money, according to a damning report. The National Audit Office (NAO) said the move to universal credit had been beset by "weak management, ineffective...

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Lloyds Boss Praises Coalition On Economy

The chief executive of Lloyds Banking Group has told Sky News that Government action in support of first-time home buyers is already proving a "game changer for the British economy". The boss of Britain's largest mortgage lender, Antonio Horta-Osorio,...

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Banks Pay Up Over Rate Swap Mis-Selling

The Financial Conduct Authority (FCA) has confirmed an acceleration in the number of companies being compensated for the mis-selling of interest rate swaps. The regulator announced that banks had paid out £500,000 to date but said the figure was set...

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20% Of Workers Earn 'Below Living Wage'

One in five British workers now earns below the so-called living wage, it has been claimed. According to the Resolution Foundation 25% of women and 15% of men were paid below the living wage in April last year, when the wage benchmark was calculated...

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Vodafone's $130bn Windfall After Verizon Deal

Vodafone has confirmed it is selling its stake in America's largest mobile phone company in the third largest corporate deal in history. Verizon Communications will buy the British firm's 45% stake in their joint US venture Verizon Wireless for $130bn...

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Young Brits 'Could Miss Digital Jobs Boom'

Up to 750,000 jobs could be created in the next five years to fuel Britain's "burgeoning" digital economy, a report has predicted. Mobile phone giant O2 said the continued growth of the digital sector offers "fantastic opportunities for tech-savvy young...

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Microsoft To Pay £3.2bn For Nokia Phones

Microsoft is to buy Nokia's mobile phone business for 3.8bn euros (£3.2bn) as it attempts to expand its share of the smartphone market. In addition to the purchase of the devices and services unit is a 10-year licence to use Nokia's patents at a cost...

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Lenders To Fork Out £1bn For Iceland Losses

By Poppy Trowbridge, Business and Economics Correspondent British banks, building societies and credit unions have begun making multimillion pound payments to cover the costs of the Icelandic banking crisis. When the banking crisis struck Iceland...

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Free Childcare Scheme Set To Be Extended

By Tadhg Enright, Sky News Correspondent A free childcare scheme starting today for 130,000 toddlers will be extended to 260,000 young children from September next year. Children in around 40% of working families will qualify for up to 15 hours...

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Vodafone Nears $130bn Verizon Windfall

Vodafone may confirm as early as this afternoon one of the largest corporate deals in history, netting it $130bn (£84bn) with the UK economy set to benefit too. The FTSE 100 mobile phone firm confirmed the value it was seeking for its stake in Verizon...

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Data Watchdog Warning Over Staff Home Working

The data watchdog has warned employers about security breaches caused by staff working from home, after it fined a council £100,000 for posting sensitive information about vulnerable children. The Information Commissioner's Office (ICO) hit Aberdeen...

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Wonga To Waive Dividend Despite Record Profit

By Mark Kleinman, City Editor Wonga, the financial services company which has found itself at the heart of the controversy over the payday lending industry, will on Tuesday announce that it made record profits of more than £1m-a-week last year....

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Lenders To Fork Out £1bn For Iceland Losses

By Poppy Trowbridge, Business and Economics Correspondent British banks, building societies and credit unions have begun making multimillion pound payments to cover the costs of the Icelandic banking crisis. When the banking crisis struck Iceland...

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