Old Mutual Sweetens £650m Bid For Wealth Firm

By Mark Kleinman, City Editor Old Mutual, the London-listed South African financial services group, is in advanced talks about a £650m takeover of the UK's second-biggest independent wealth manager. Sky News has learnt that Old Mutual is closing...

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Counting The Cost Of The Ebola Outbreak

The impact of the deadly ebola virus may cost West Africa £20bn, experts have warned. The World Bank said the worst case scenario would see the wider region's lost GDP amount to 3.8%, with Liberia at risk of losing almost 12%. Sierra Leone, which...

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Microsoft CEO To Women: Rely On Karma For Pay Rise

The newly installed boss of Microsoft has come under fire for telling women they do not need to ask for pay rises, relying instead on "karma". The comments were made by CEO Satya Nadella while he was speaking in Arizona at an event for women in computing....

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EDF Go Ahead for Hinkley Point Nuclear Reactor

French energy giant EDF has been given approval to build a new nuclear power station at Hinkley Point in north Somerset, it has been confirmed. The new-build power station is part of a plan to replace 20% of Britain's ageing nuclear power infrastructure....

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High Street Decline Continues With Shop Closures

By Poppy Trowbridge, Consumer Affairs Correspondent The decline of the high street has accelerated in the first half of the year, according to new figures. Experts suggest betting shops and discount stores gained increasing footholds at the expense...

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New Plans To Decrease Payday Loan Charges

The competition watchdog has revealed new plans to help consumers using payday lenders. The Competition and Markets Authority (CMA) said the rules could save borrowers up to £60 a year. Details of the sector overhaul were first revealed by Sky News...

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HSBC Directors Quit In Protest At Jail Threat

By Mark Kleinman, City Editor Two directors of HSBC's UK arm are poised to quit in protest at new Bank of England rules that pave the way for lengthy jail sentences to be imposed on senior managers of failed lenders. Sky News can exclusively reveal...

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Cable Turns Up The Heat On All-Male Boards

By Mark Kleinman, City Editor Britain's biggest pubs operator and one of the country's largest sportswear retailers are to be targeted by Vince Cable in a renewed focus on bolstering boardroom diversity. Sky News understands that the Business Secretary...

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FirstGroup Loses ScotRail Franchise

Transport giant FirstGroup has lost its renewal bid for the ScotRail franchise, it has been confirmed. The company will continue to operate First ScotRail until the new contract starts on 1 April, according to Transport Scotland. An announcement...

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Samsung Pledges New Phones As Profits Drop 60%

Electronics giant Samsung has forecast a profit plunge of almost 60% in the last quarter but promised it would soon release a new range of smartphones with "innovative designs". The South Korean firm is struggling to maintain dominance in the ultra-competitive...

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Rio Tinto Rejects Glencore's £100bn Merger

Mining giant Rio Tinto has rejected a potential merger with key competitor Glencore, which would create the world's biggest commodities firm. Rio Tinto, which is based in Australia and Britain, said it had rejected a July approach from its Switzerland-based...

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Tesco Suspends Fifth Exec Over Finance Woes

Tesco has confirmed a fifith executive has been suspended over a £250m blackhole in its financial accounts. It is understood to be group commercial director Kevin Grace. Mr Grace has been on the executive committee since December 2011 and has worked...

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Lib Dems Want Council Tax Rise For Rich

The rich should shoulder more of the burden for cutting the deficit and pay higher council tax, the Chief Secretary to the Treasury has said. Danny Alexander said Liberal Democrats would add extra bands to the council tax structure to ensure those...

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Oil Drops To Two-Year Low Amid Rising Output

The price of oil has hit a two-year low, after the dollar rallied in response to a strong US jobs report on Friday. In early Monday trades Brent crude was less than $92 (£57.60) a barrel, while the US benchmark West Texas Intermediate - for November...

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House Prices To Fall In 2015, Survey Says

House prices are set for their first decline since 2011, according to a new survey. The Centre for Economics and Business Research (CEBR) said the fear of impending rate rises and tightening of mortgage affordability tests have dampened price growth...

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US Jobless Rate Now At Lowest Since July 2008

The unemployment rate in the United States has dropped to 5.9%, the lowest level since July 2008. The jobless rate dropped by 0.2% from the August figure. Official data showed that the US economy created 248,000 non-farm jobs in September. The Labor...

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John Lewis Boss Sorry For 'Hopeless' France Jibe

The boss of the John Lewis Partnership has apologised to France, after saying the country was "finished". Managing director Andy Street held up an olive branch after a series of negative comments about the country were published on the front page...

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Labour Peer McFall Joins Digital Bank Atom

By Mark Kleinman, City Editor Lord McFall, a former chairman of the Treasury Select Committee, is joining the board of Atom, the first British digital-only bank that hopes to launch next year. Sky News understands that the Labour peer is among a...

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