Metro Bank Seeks £285m In New Cash Call

By Mark Kleinman, City Editor Metro Bank is to tap shareholders for nearly £300m in a larger-than-expected fundraising that will see the high street lender delaying a flotation until 2016. Sky News has learnt that Metro Bank told its existing investors...

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Hunt To Get £17m Payout From Hotcourses Sale

By Mark Kleinman, City Editor Jeremy Hunt, the Health Secretary, is in line for a windfall worth more than £15m from a company sale that would propel him to the top of the Cabinet rich list. Sky News can exclusively reveal that Hotcourses, an education...

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Mobile Spending 'Could Be Worth £23bn' By 2018

By Poppy Trowbridge, Business and Economics Correspondent This year has been dubbed 'The Mobile Christmas' and with 48% growth in mobile shopping, retailers are increasingly targeting shoppers through digital devices. British retailers will spend...

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Twitter's Share Price Soars At NYSE Launch

Smooth Sailing For 'TWTR' Launch Updated: 11:34pm UK, Thursday 07 November 2013 By Hannah Thomas-Peter, New York Correspondent The "pop" at the beginning of the day prompted some early investors to sell a portion of their shares. Meridian Equity...

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Alcohol Testing In Workplace Recommended

By James Matthews, Sky News Correspondent An organisation set up to tackle alcohol misuse has called for workplace testing to seek out problem drinkers. The Alcohol Health Network wants employees to take a standardised test which identifies whether...

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BA Owner IAG Profit Soars In Third Quarter

IAG, the owner of BA and Iberia airlines, has seen its profit soar in the third quarter to £575m. The company saw the Q3 rise from £224m in same period last year. Iberia, which has been hit by major cuts and strike action, made an operating profit...

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Morrisons Sales Fall 3% In Third Quarter

Morrisons says subdued consumer confidence and its low exposure to online and convenience shopping is to blame for falling sales. Like for like sales including fuel in the third quarter - a measure charting the performance of continuing operations -...

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Universal Credit Scheme 'Has Lost Over £140m'

Universal Credit has been savaged by MPs for "shocking" failures that have already wasted at least £140m. The scheme has been blighted by "alarmingly weak" management, with secretaries allowed to authorise purchase orders worth more than £20m. In some...

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Twitter IPO: Shares Hit Stock Exchange At $26

Twitter has set a price of $26 (£16) for its public stock offering and can begin trading on the New York Stock Exchange. The price values the San Francisco-based micro blogging site at $14.1bn (£8.8bn), based on its outstanding stock and options, Reuters...

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Job Losses Feared At BAE Shipyards Amid Review

Defence giant BAE Systems will announce job losses when it releases a report on the future of shipyards on Thursday, Sky sources understand. It is thought that two facilities in Scotland and one at Portsmouth could be affected. Unions are to meet company...

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M&S Upbeat Despite Clothing Sales Falling Again

M&S v Primark: The Clothing War It Can't Win Updated: 2:03pm UK, Tuesday 05 November 2013 By James Sillars, Sky News Business It's a battle for your business. A war to win your custom. M&S has been losing ground to rivals and its problems...

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VIP Visas Aimed At Drawing Executives To UK

By Anuskha Asthana, Political Correspondent British visas are to be offered under a "same-day service" in China and a number of other countries in a bid to make the UK immigration service more pro-growth. The move will be announced by Theresa May,...

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Water Bills: Minister Urges Firms To Rethink

The Environment Secretary has urged water companies to "look closely" at whether price increases are necessary and urged them to introduce special tariffs for hard-pressed households. In a letter to suppliers, Owen Paterson MP said they should recognise...

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Wonga Chief Defends Company Practices

The chief operating officer of payday loan company Wonga has defended its practices as it released a film telling the stories of 12 of its customers. Niall Wass told Sky News that Wonga decided to make 12 Portraits to dispel the "negative" image...

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M&S: Ninth Quarterly Clothing Sales Decline

Marks & Spencer insists it is seeing early signs of improvement in its crucial Womenswear collection after lower first half sales of general merchandise. Like-for-like clothing and homeware sales fell 1.5% during the first six months of its financial...

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Twitter Could Float On Stock Market This Week

Microblogging site Twitter could launch its flotation on the New York Stock Exchange as early as this week with analysts expecting high demand for shares. In the most anticipated stock market debut since Facebook, the firm may announce its initial public...

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Founders Eye £250m Jackpot From Tilda Sale

By Mark Kleinman, City Editor A family which fled Uganda after being expelled by the dictator Idi Amin is eyeing a £250m jackpot from the potential sale of Tilda Rice, one of the UK's most prominent food brands. Sky News understands that members...

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Co-op Bank Set For Stock Market Flotation

The Co-op Group has announced a plan to float its struggling banking arm on the stock market next year. The decision comes amid a restructure of the Co-op Bank, which will see the mutual inject £462m into the lender. The parent group will keep 30%...

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Co-Op: US Hedge Funds Reassure Watchdog

By Mark Kleinman, City Editor A group of American hedge funds is trying to reassure the Bank of England about their role in the restructuring of the Co-operative's troubled banking arm ahead of a formal deal to be announced on Monday. Sky News...

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Water Bills: Crackdown On Costs Expected

Water bills may be "rolled back" after the Government vowed to get tough on the rising cost of living. David Cameron's spokesman indicated that an announcement on water bills would be made next week. The spokesman said the Department for Environment,...

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Co-op To Axe More Than 1,000 Banking Jobs

By Mark Kleinman, City Editor The Co-operative Group is to axe more than 1,000 jobs at its troubled banking arm as part of a complete overhaul of its business and finances. Sky News understands that the job cuts, which could be detailed as soon...

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