New Car Sales Accelerate By 18% In March

New car registrations were up almost 18% in March compared to the same period last year. A total of 464,824 cars were registered in the month, the highest level for a decade - nearly 15,000 a day. Last month's figure and the previous high, recorded...

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House Of Fraser Bought By Chinese Tycoon

A Chinese tycoon has bought British high street chain the House of Fraser, according to sources. Reuters said a 89% stake was bought by Sanpower, a Nanjing-based conglomerate controlled by Yafei Yuan. Sources have told Sky News an announcement is expected...

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Microsoft XP And Office 2003 Security Warning

Britain's data protection watchdog has warned owners of Microsoft's Windows XP and Office 2003 products of future potential security flaws. The warning from the Information Commissioner's Office (ICO) comes as the software giant is set to end official...

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Lloyds Seeks Approval To Boost Pay Of Top 400

By Mark Kleinman, City Editor Lloyds Banking Group is to seek approval to boost the pay packets of up to 400 of its most senior staff in a move which could stoke political tensions over bankers' remuneration. Sky News has learnt that the taxpayer-backed...

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High Streets Show 'Resilience' After Crash

Around 80% of high street stores left vacant after the collapse of successive retail chains have now been filled, new research suggests. Accountancy giant Deloitte said Britain's high streets were recovering at a greater pace than rival locations such...

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Dawlish: Damaged Railway Reopens After Repair

David Cameron has paid tribute to workmen after they completed a £35m repair project on the badly-damaged rail line at Dawlish. A 300-strong team has spent weeks repairing the line, which was badly damaged on February 4 when the sea wall was breached...

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Cowdery Nets £200,000 Profit After FCA Fiasco

By Mark Kleinman, City Editor The founder of the closed life insurer Resolution has netted a profit of almost £200,000 on shares he bought after last week's botched launch of a probe into the sector by the City regulator. Sky News can reveal that...

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Vodafone Creates 1,400 Jobs With 150 Stores

Vodafone has confirmed plans to open 150 new stores this year, creating 1,400 UK jobs. The company said the £100m expansion was part of its previously announced £1bn investment commitment to the UK market. Vodafone, which has 19 million...

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China Confirms 'Mini Stimulus' To Boost GDP

The Chinese government has announced measures to help boost living standards and its economy at the same time. The total cost of the so-called 'mini stimulus' was not disclosed but the investment programme aimed to deliver social housing to replace...

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Asos Profit Plunges 22% Despite Sales Boost

Online fashion retailer Asos has seen its half-year pre-tax profit plunge by 22%, despite retail sales being up by a third in the UK. The fall comes as the firm steps up expenditure on IT and distribution facilities for future growth expectations. ...

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Bedroom Tax Causing 'Hardship And Distress'

The Government's benefit reforms are causing "severe financial hardship and distress to vulnerable groups", a committee of MPs from across the political divide has said. The removal of the spare room subsidy, labelled the 'bedroom tax' by some critics,...

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Nationwide - Home Prices Up 10% In Last Year

Average house prices have risen by nearly 10% in the last year, according to a property survey. Nationwide said year-on-year prices were up 9.5% in March, the biggest annual jump since mid-2010. The March figure was up on the 9.4% recorded in February...

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Shares Up As FCA Clarifies Pension Probe

The City regulator has revealed that it will not individually review millions of pension and saving policies, prompting a share price rise for financial providers. The Financial Conduct Authority (FCA) clarified the position in its 2014-15 business...

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Osborne Pledges 'Full Employment' For UK

What Does 'Full Employment' Mean? Updated: 2:35pm UK, Monday 31 March 2014 By Ed Conway, Economics Editor George Osborne has today committed to "fight for full employment in Britain". But what does "full employment" actually mean? The answer,...

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Royal Mail Sell-Off 'Cost Taxpayer Millions'

Taxpayers lost out on more than £1bn due to the Government's low valuation of Royal Mail shares during its privatisation, the National Audit Office has found. The public spending watchdog concluded ministers showed "deep caution" when pricing the shares...

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Under-Fire FCA Seeks Budget Hike From City

By Mark Kleinman, City Editor The City regulator will set out plans for an inflation-busting increase in its budget this week, just days after sparking fury from insurers over the launch of a probe into some industry practices. Sky News has learnt...

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Osborne: 'Biggest Tax Cuts In Two Decades'

Chancellor George Osborne is set to claim that UK workers and businesses will benefit from the biggest tax cuts in a generation. Measures include the rise in the income tax personal allowance to £10,000, which comes into effect on Sunday, along with...

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Home Sellers 'Getting 93% Of Asking Price'

Homeowners in all regions of Britain are now able to sell their properties at more than 93% of the asking price, according to a new survey. Hometrack said the rate is even better in some areas, and has now reached a decade-long high in London. It said...

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RBS Raids Swiss Giant For New Finance Chief

By Mark Kleinman, City Editor The taxpayer-backed Royal Bank of Scotland (RBS) is close to luring one of the architects of its £45.5bn taxpayer bail-out to become its new finance chief. Sky News can exclusively reveal that Ewen Stevenson, who works...

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Wonga Chair Damelin To Quit As FCA Takes Over

By Mark Kleinman, City Editor The co-founder of Wonga, the payday lender, is to step down as its chairman just months after handing over the reins as its chief executive. Sky News has learnt that Errol Damelin is expected to leave Wonga later this...

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Network Rail Admits Punctuality Failures

Network Rail has said it is "disappointed" at not hitting its punctuality targets amid reports the firm is expected to receive a record fine for failing to ensure services run on time. A spokesperson for the operator of Britain's rail infrastructure...

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