Current Account Exodus At Troubled Co-op Bank

The troubled Co-op Bank has revealed it lost almost 30,000 current account customers in the first half of its financial year. The bank, which was forced to raise almost £2bn to plug a capital black hole last year, reported significantly lower losses...

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EDF Energy To Pay £3m Complaints Penalty

EDF Energy is the latest of the so-called "Big Six" suppliers to be slapped with a penalty for market failures. The regulator Ofgem said it had agreed to pay £3m to benefit vulnerable customers after its investigation found that the company...

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Draghi: ECB Ready To Spur On Euro Economy

The boss of the European Central Bank (ECB) has revealed it is ready to do more to boost a shaky recovery in Europe. But Mario Draghi warned EU member governments they must still join in efforts to reduce unemployment, which remains stubbornly high....

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Current Account Exodus At Troubled Co-op Bank

The troubled Co-op Bank has revealed it lost almost 30,000 current account customers in the first half of its financial year. The bank, which was forced to raise almost £2bn to plug a capital black hole last year, reported significantly lower losses...

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First-Time Buyers 'Getting A Shot At Long Last'

By Poppy Trowbridge, Consumer Affairs Correspondent The number of first-time buyer sales has hit a seven-year high, according to new figures from LSL Property Services. There were 30,000 first-time buyer sales in July, up by 25% on a year before...

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EDF Energy To Pay £3m Complaints Penalty

EDF Energy is the latest of the so-called 'Big Six' suppliers to be slapped with a penalty for market failures. The regulator Ofgem said it had agreed to pay £3m to benefit vulnerable customers after its investigation found that the company...

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Bank Of America Agrees Record $17bn Settlement

Bank of America has agreed to a record $17bn (£10.2bn) settlement over its sale of mortgage-backed securities in the lead up to the 2008 financial crisis. The bank will pay $10bn in cash and provide consumer relief valued at $7bn, officials familiar...

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Labour Pledge To Get Tough With Energy Firms

Energy companies' licences could be revoked by a new regulator to help protect the interests of the public under a Labour government, the party has announced. Shadow energy and climate change secretary Caroline Flint said the Government had helped create...

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UK Car Export Values 'Double In A Decade'

The resurgence of the UK's car industry has notched up another milestone - with export values more than doubling over the past decade. Industry figures released on Thursday showed that the average car exported was worth over £20,600 today compared to...

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Inflation Drops More Than Expected In July

The two measures of UK inflation have dropped more than expected in July, prompted by discounting on the high street. According to official data, the Retail Prices Index (RPI) stood at 2.5% and the Consumer Prices Index (CPI) was 1.6%. Economists had...

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Ministers Face New Royal Mail Sell-Off Row

By Mark Kleinman, City Editor Ministers considered selling the Government's entire stake in Royal Mail when the shares were trading close to their post-privatisation peak earlier this year - but decided against doing so because it risked antagonising...

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Standard Chartered Hit $300m For Lax Controls

UK-based Standard Chartered bank is to pay $300m (£180m) to US regulators over its failure to improve anti-money laundering provisions and stop financial crime. The agreement with New York's Department of Financial Services (DFS) follows the bank's...

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Gender Pay Gap Continues To Widen For Women

Women in management position still earn significantly less than their male counterparts, according to a new report. The Chartered Management Institute (CMI) said the pay gap is widening and for women in their 40s earnings are more than a third less...

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Housebuilder Persimmon Profit Jumps 57%

Housebuilder Persimmon has seen its pre-tax profit jump by 57% in the first half of the year. The company said underlying profit reached £212.9m in the six months to the end of June. Revenue in the period was also up 33% to £1.2bn and it said sale...

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Airlines Warned Over Iceland Volcano Eruption

The aviation industry has been warned about the possibility of flight disruptions caused by activity at Iceland's largest volcano system. Intense seismic tremors have been recorded at Iceland's Bardarbunga volcano for the past three days, although there...

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Lastminute Owner Eyes Sale Of UK Dotcom Icon

By Mark Kleinman, City Editor Lastminute.com, one of the icons of the original dotcom boom, is being put up for sale nearly a decade after its takeover by an American technology giant. Sky News has learnt that Sabre Holdings, which is listed in...

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Wall Street Giants Swoop On Sub-Prime Lender

By Mark Kleinman, City Editor Two giants of Wall Street are in advanced talks to acquire Kensington, one of the UK's biggest sub-prime mortgage lenders. Sky News has learnt that divisions of Blackstone and TPG, the US-based private equity groups,...

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Nationwide Profit Rockets In Housing Surge

High street lender Nationwide has seen underlying profit more than double in the three months to the end of June. First quarter profit for the building society reached £263m, up 117% on the same period last year. Statutory profit was up 141%, to £253m...

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New Rules To Boost Home-Based Businesses

Entrepreneurs will have more freedom to begin a business from home under new measures to be announced by the Government. They include legislation which will make it simpler to run a company from a rented property and new guidance on business rates....

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UK Growth Hits Fastest Annual Pace Since 2007

The annual rate of UK economic growth has been revised upwards to 3.2% - its fastest pace since the end of 2007. The announcement was made by the Office for National Statistics (ONS) as it confirmed GDP growth of 0.8% in the second quarter of the year....

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Lastminute Owner Eyes Sale Of UK Dotcom Icon

By Mark Kleinman, City Editor Lastminute.com, one of the icons of the original dotcom boom, is being put up for sale nearly a decade after its takeover by an American technology giant. Sky News has learnt that Sabre Holdings, which is listed in...

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