TNT Plan 'Cuts £200m From Royal Mail Revenue'

Royal Mail has warned that delivery plans by rival TNT could reduce its revenue by £200m in coming years. It said TNT Post UK's expansion strategy would cost it £200m in the 2017/18 financial year. It told regulator Ofcom that "absent intervention"...

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TSB Shares Up 11% On First Day Of Trading

Shares in retail bank TSB jumped more than 11% in value after public trading in the Government-back lender started. The list price of 260p was quickly up to more than 290p, 11.5%, within minutes of trades commencing at 8am. In early afternoon trades...

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Cashless High Street Ditches Notes And Coins

By Becky Johnson, North of England Correspondent Shoppers will find their cash is worthless in one Manchester suburb as only cards will be accepted by stores on the high street. As part of a social experiment, shops along fashionable Beech Road...

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GM Ignition Fault 'May Have Killed 100 People'

Up to 100 deaths could be linked to a faulty ignition switch in GM cars that the firm failed to rectify for more than a decade, says a US lawmaker. Representative Diana DeGette, a Colorado Democrat, mooted the figure as she grilled GM chief executive...

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McDonald's To Recruit 8,000 Young Staff

McDonald's has announced a recruitment plan for young workers, as it seeks to boost staff levels by 8,000. The fast food chain said it would recruit the first-time workers and under-25s over the next three years, as part of a growth and investment plan....

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Fed Cuts Asset Purchases Amid Inflation Fear

The US Federal Reserve has cut the pace of monthly asset purchases by $10bn (£5.8bn), as it dampens fears of inflation rising. The Fed said its quantitative easing programme would now be set at $35bn (£20.6bn) a month. The US dollar weakened against...

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Morrisons Plans 2,600 Job Cuts In Shake-Up

Morrisons has confirmed plans for 2,600 job cuts as the loss-making supermarket chain battles falling sales and market share. A statement detailing the changes said the losses, representing 2% of its workforce, would result from cutting tiers of in-store...

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MPs Warn Of 'Taxpayer Risks' From Help To Buy

The Government has dismissed a study by MPs which found the first part of its Help to Buy scheme poses a long term risk to the taxpayer. The Public Accounts Committee (PAC) said that the policy - under which Government equity loans finance up to 20%...

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Zoopla To Be Valued At £919m On Flotation

Zoopla, the property website, will have a market value of £919m after it set the offer price for its share sale. The firm - majority owned by Daily Mail And General Trust - said shares would be priced at 220p each in the Initial Public Offering...

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BP And Shell Land China Deals As Premier Visits

By Mark Kleinman, City Editor Britain's two biggest oil companies will unveil multibillion pound deals with China on Tuesday as the Government attempts to position the UK as Beijing's preferred European investment partner. Sky News has learnt that...

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Maiden Chinese 'Green Bond' To List In London

By Mark Kleinman, City Editor An arm of the World Bank is to list the first 'green bond' denominated in China's currency in London in a move that will be hailed by ministers as a boost for the City's global status. Sky News has learnt that the...

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Chinese Visit To Bring In Deals Worth £17bn

By Mark Stone, China Correspondent, in Beijing A raft of commercial deals between the UK and China totalling more than £17bn will be agreed later in the first visit to Britain by a Chinese leader for over three years. China's Premier Li Keqiang...

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Energy Provider Switching Time Is Cut In Half

The energy regulator has confirmed the amount of time it takes to switch gas and electricity supplier is to be cut by half. Ofgem says it has agreed with the industry that switching times will fall to three days plus a 14-day cooling off period from...

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Centrica Chief Laidlaw Rules Out BG Switch

By Mark Kleinman, City Editor Sam Laidlaw, the boss of Centrica, has ruled himself out of the running to take the top job at BG Group, the troubled FTSE 100 energy group. Sky News has learnt that Mr Laidlaw, whose departure from the owner of British...

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Ukraine 'Misses' $1.9bn Russian Gas Payment

Russia has reportedly restricted gas supplies to Ukraine after it missed a deadline imposed by Moscow to pay almost half its $4bn (£2.35bn) bill. State-owned Gazprom said Ukraine's Naftogaz had failed to pay $1.9bn of its debt by its 0600 GMT (0700...

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Interest Rate Rise 'Signals End Of Crisis'

George Osborne Acts To Curb Housing Bubble Updated: 1:25am UK, Friday 13 June 2014 By Jon Craig, Chief Political Correspondent Barely a few minutes into his Mansion House speech, George Osborne said: "So while I know this is my fifth speech to...

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Carney Boosts Lloyds Plan For £1.3bn TSB Float

By Mark Kleinman, City Editor The state-backed Lloyds Banking Group is this weekend considering increasing the price at which it sells shares in TSB, its high street subsidiary, amid strong demand from investors. Sky News has learnt that Lloyds...

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Retailers Set Goals On World Cup Success

By Emma Birchley, Sky News Correspondent England fans are not the only ones hoping the players can find the back of the net as their World Cup campaign finally gets under way. Retailers too are banking on success. The Centre for Retail Research...

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