Sony Back In Profit After Record Loss

By Niall Paterson, Technology and Media Correspondent Sony has reported an annual profit for the first time in five years. The electronics and entertainment company made a net profit of 43bn yen (£280m) in the year to the end of March 2013, compared...

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ENRC Mining Crisis Deepens As Brokers Quit

By Mark Kleinman, City Editor The crisis engulfing the FTSE-100 mining company ENRC has deepened with the resignation of its two blue-chip brokers. I have learnt that Deutsche Bank and Morgan Stanley, two of the banks which have advised ENRC since...

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No Bank Of England Stimulus For UK Economy

Signs of stronger growth in the UK economy seem to have stopped the Bank of England introducing fresh stimulus. The monetary policy committee (MPC) stopped short of adding to its £375bn programme of quantitative easing (QE) since it emerged that the...

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Easter Timing And Cold Hit Retailers In April

The cold weather and the timing of Easter hit retail sales across the board last month - falling at their fastest rate for a year. The British Retail Consortium (BRC) said retail sales values were down 2.2% on a like-for-like basis from April 2012....

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Sainsbury's Annual Profits Fall 1.4% To £788m

The boss of Sainsbury's has told Sky News he has a "few more years" in him at the helm of the supermarket chain despite the appointment of headhunters tasked with identifying his successor. Justin King was speaking after Sainsbury's confirmed a slight...

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Queen's Speech: Immigration Curbs Dominate

New measures to tackle immigration were among the Government's priorities outlined in this year's Queen's Speech. In its legislative programme for the year ahead, the coalition also set out plans to cap bills for social care, introduce a flat-rate pension,...

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TweetDeck: Twitter's UK Firm Shut By Regulator

By Pete Norman, Sky News Online A British company bought by Twitter for a reported £25m has been shut down by the business regulator after it failed to file its accounts, Sky News has learned. The official message of TweetDeck's demise TweetDeck...

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Diageo Boss Paul Walsh To Step Down In June

Paul Walsh, the chief executive of FTSE 100 drinks firm Diageo, is to leave the post at the end of June to make way for Ivan Menezes. The company confirmed Mr Menezes, the current chief operating officer (COO), will assume control on July 1, with 57-year...

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HSBC Almost Doubles First Quarter Profits

London-listed HSBC has almost doubled its first quarter profits following a big fall in costs and bad debts. It reported a pre-tax profit of $8.4bn (£5.4bn) for the period, up from $4.3bn a year ago, with Europe's biggest bank showing the benefit of...

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Struggling Families Using Loans To Buy Food

Five million families in Britain are approaching financial "breaking point" and struggling to pay for food, according to research. One in five households said their monthly incomes would not stretch to cover all of their food costs in April and...

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Barroso 'Mends Austerity Fences' With Merkel

The German Chancellor is not to blame for the eurozone austerity policies, the head of the European Commission has said - in an apparent attempt to mend fences with Berlin. European Commission president Jose Manuel Barroso drew fire from Germany last...

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Consumer Rights To Be Boosted Under New Laws

A bill giving increased rights to consumers and reducing burdens on business is set to be unveiled in the Queen's Speech. Ministers believe reforming legislation will save the economy around £4bn over 10 years in more effective protection and better...

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US Creates 165,000 New Jobs In April

The United States created 165,000 new non-farm jobs in April, with the figure beating expectations. Hiring was much stronger in the previous two months than first thought, and the gains trimmed the unemployment rate to a four-year low of 7.5%, the official...

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Smartphones: Debit Cards Of The Future?

By Liz Lane, Sky News Reporter Smartphones could soon become an even greater part of our lives as networks join forces to let us pay for high street goods with our mobiles. The battle to dominate the market for "virtual wallets" is heating up,...

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Sainsbury's To Bank On Lloyds Buyout

By Mark Kleinman, City Editor The supermarket chain J Sainsbury will next week move to take full control of its banking operations by striking a deal to buy out its partner, Lloyds Banking Group. I have learnt that Sainsbury's is on the verge of...

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The Sky News Business Round-Up And Look Ahead

Sky's Naomi Kerbel offers a look ahead to what's coming up in the week's business news. :: Monday 6th May UK bank holiday :: Tuesday 7th May HSBC Q1 results :: Wednesday 8th May J Sainsbury Q1 results :: Thursday 9th May UK interest rate...

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US Creates 165,000 New Jobs In April

The United States created 165,000 new non-farm jobs in April, with the figure beating expectations. Hiring was much stronger in the previous two months than first thought, and the gains trimmed the unemployment rate to a four-year low of 7.5%, the official...

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Smartphones: Debit Cards Of The Future?

By Liz Lane, Sky News Reporter Smartphones could soon become an even greater part of our lives as networks join forces to let us pay for high street goods with our mobiles. The battle to dominate the market for "virtual wallets" is heating up,...

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Personal Insolvencies At Five-Year Low

Personal insolvencies have dropped to their lowest level in five years despite the tough economy, according to official figures. There were 25,006 individual insolvencies across England and Wales in the first three months of 2013, the figures have shown....

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RBS Returns To Profit In Latest Quarter

Opinion: Investment Banking's Worth It Updated: 10:30am UK, Friday 03 May 2013 By David Buik, Panmure Gordon & Co The moment that Barclays' Rich Ricci's Champagne Fever charged up the Cheltenham hill on March 12 to take the opener at the festival,...

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Euro Forecast: Jobless Total To Stay Static

Unemployment levels are not expected to reduce significantly in any key eurozone nation during 2014, according to new forecasts released by the European Commission. Recession in 2013 in the eurozone will be worse than expected, with GDP slipping 0.4%...

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Energy Firms 'Failed To Meet Consumer Targets'

The energy regulator is investigating six suppliers, saying they have failed to meet their targets on providing consumers with efficiency measures. Ofgem said that while the sector had achieved 99% of energy efficiency targets set by the Government,...

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Verizon Dials Up Funds For $100bn Vodafone Bid

By Mark Kleinman, City Editor The American telecoms group Verizon is lining up funds for a blockbuster $100bn bid to buy Vodafone out of their US mobile phone joint venture. Insiders told Sky News on Wednesday that Verizon's board had asked banks...

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RBS Inquiry: Cable Denies Any 'Interference'

The Business Secretary has denied any suggestion of interfering with the legal process in connection with the collapse of Royal Bank of Scotland (RBS). Vince Cable was speaking to Sky News after it emerged he had written to prosecutors urging a decision...

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