Co-op Bank Taps Funds Over £6bn Optimum Sale

By Mark Kleinman, City Editor The‎ troubled Co-operative Bank has approached some of the world's biggest distressed investment funds about a sale of billions of pounds of British mortgages as part of its revival plan. Sky News‎ has learnt that advisers...

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The Budget: What To Expect From Osborne

If you're expecting the forthcoming Budget to make a big difference to your pockets, you may well end up a little disappointed. Pre-election Budgets tend to be short on measures and long on promises. After all, if there is a new Government elected...

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Aston Martin Revs Up For £150m Share Sale

By Mark Kleinman, City Editor The luxury car-maker Aston Martin is finalising plans to raise £150m from shareholders‎ to fund an expansion aimed at returning it to profitability within three years. Sky News understands that Aston Martin has received...

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Labour's Pledge To Force Big Six To Cut Bills

Energy companies could be forced to cut their bills by the end of the year if Labour wins the General Election in May. Labour leader Ed Miliband is expected to announce later that one of his first acts in government would be to push through a bill...

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German Bank Pays $1.45bn Sanctions Settlement

US authorities have announced a $1.45bn (£975m) deal with Commerzbank to settle several charges, including the violation of US sanctions against Iran. The total penalty, announced last night, is close to the settlement agreed by HSBC on similar...

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Pub Chain Sees 'Supermarket Profit Pressure'

JD Wetherspoon has blamed supermarket pricing and a bigger wage bill for a fall in operating profits. The pub chain reported profits of £55.1m for the 16 weeks to 25 January - a drop of 1.1% - despite revenues rising 9% and like-for-like sales growing...

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Greece Threatens German Asset Seizure Over War

The Greek justice minister has announced it may seize German state-owned property to compensate victims of a Nazi massacre more than 70 years ago. "I'm ready to sign (the decision)," Nikos Paraskevopoulos said. "The prime minister is aware of the...

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Shawbrook Joins Start-Up Banks' Race To Float

By Mark Kleinman, City Editor A challenger bank chaired by the former head of Royal Bank of Scotland (RBS) will announce plans for a flotation on Thursday that the City believes could value it at almost £1bn. Sky News has learnt that Shawbrook, which...

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Morrisons Records £792m Loss In Last Year

Struggling supermarket chain Morrisons has reported a deeper loss of £792m for its last financial year. The figure - for the 12 months to 1 February - followed a loss before tax of £176m in 2013/14. The chain, among the 'big four' battling each other...

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Car Makers Attack 'Anti-Diesel' Campaign

By Gerard Tubb, Sky News Correspondent A growing campaign to blame the drivers of diesel cars for dangerous air pollution has been attacked by motor manufacturers. Emissions from diesel engines, including particulates and nitrogen oxides, have been...

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£1bn Printer Falls Like Domino To Japan Bid

By Mark Kleinman, City Editor A FTSE-250 printing technology company will be the latest British corporate name to fall prey to a foreign rival when it unveils a takeover deal worth close to £1bn. Sky News has learnt that the board of Domino Printing...

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Pound Soars Amid Latest 'Greek Drama'

Fresh uncertainty over Greece has prompted a warning from the Chancellor and helped push the pound to a seven-year high of €1.40. Sterling is now at levels not seen since the autumn of 2007, meaning Britons travelling abroad will get more for their...

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Prudential Boss Thiam To Join Credit Suisse

Prudential has confirmed chief executive Tidjane Thiam is to leave the company to join Credit Suisse later this year. It made the announcement hours after Sky News reported that the head of the insurer's US business, Mike Wells, had already been picked...

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Virgin Atlantic Posts First Profit Since 2011

Sir Richard Branson has applauded staff at Virgin Atlantic after the airline posted its first annual profit since 2011. The airline made £14.4m in 2014 following a pre-tax loss of £54m the previous year. It credited strategic changes along with...

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Payday Loan Customers In Arrears Still Failed

The City regulator says payday loan customers in arrears are still being failed by companies despite new rules to improve how they are treated. The Financial Conduct Authority (FCA) said it had found "serious non-compliance and unfair practices" in...

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Defence Cuts Could Put 30,000 Jobs At Risk

By Alistair Bunkall, Defence Correspondent Britain's Army could shrink to its smallest size in more than 250 years the UK has been warned. A report published by the think tank Royal United Services Institute predicts the UK defence budget will fall...

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Tungsten Banking Arm Unveils Deposits Drive

By Mark Kleinman, City Editor An electronic invoicing group headed by a prominent City financier will on Monday announce that it is to start taking deposits as it aims to become a leading challenger bank for corporate clients. Sky News understands...

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WPP Annual Profits Hit £1.5bn For First Time

The world's leading advertising agency, WPP, has announced a headline annual profit of more than £1.5bn for the first time. The company - led by its founder Sir Martin Sorrell - credited growth in Britain and North America particularly for its performance...

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US Group WhiteWave Has Appetite For Quorn

By Mark Kleinman, City Editor The owner of Quorn, the meat-free food producer, ‎is mulling a sale of the business to the American group which owns Alpro, the plant-based milk alternative. Sky News understands that The WhiteWave Foods Company has...

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US Jobless Rate Tumbles To 5.5% In February

The US jobless rate plunged last month as hiring accelerated, raising expectations of a possible interest rate rise by the Federal Reserve. The world's biggest economy created 295,000 net new jobs in February, despite some severe weather disruption...

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Big Firms Forced To Reveal Gender Pay Gap

Thousands of large companies will be forced to share details of the difference between what they pay their male and female workers. The Government has agreed to implement the Liberal Democrat measure despite years of Tory opposition to it. The move...

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