British Gas Defends Cold Winter Profits Boost

British Gas has said higher costs largely wiped out profit growth from the unusually cold winter in the first half of its financial year. Profits for the residential energy business in the six months to June 30 grew by 3.2% to £356m. While the company...

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RBS Hunt For Hester Successor Nears Climax

By Mark Kleinman, City Editor Royal Bank of Scotland (RBS) hopes to announce the appointment of a new chief executive on Friday as its search for Stephen Hester's successor narrows to internal contenders. Sky News understands that RBS directors...

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Rihanna Wins Topshop Image Rights Fight

Singer Rihanna has won her High Court battle with fashion chain Topshop over T-shirts bearing her image. The Barbadian singer accused the fashion chain of passing off, or attempting to pass off, the garments as being approved by her. Topshop disputed...

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Dreamliner Grounding 'Cost Carrier ANA £53m'

Japan's All Nippon Airways (ANA) has said the grounding of its Boeing Dreamliner fleet has cost it 8bn yen (£53m). The announcement comes after the carrier made a second-quarter loss of 6.6bn yen (£44m). It reversed a small year-earlier profit, despite...

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City Watchdog Rules Barclays Misled Investors

By Mark Kleinman, City Editor The City watchdog has warned Barclays that it could impose financial penalties on the bank and some of its top executives as part of a probe into fundraisings that allowed the British lender to avoid taxpayers' clutches...

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Barclays Half-Year Profit Down 17% To £3.59bn

Barclays has reported a 17% drop in half-year adjusted profit of £3.59bn, as it announced a £5.8bn capital-raising rights issue. It said adjusted income decreased 3% to £15bn, in the six months to June 30. Barclays said a payment protection insurance...

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Energy Watchdog 'Failing Consumers', Say MPs

By Tadhg Enright, Business Reporter The energy watchdog, Ofgem, is failing consumers and undermining trust in the market, a group of MPs have said - urging it to "use its teeth a bit more". A report by the Energy and Climate Change Select Committee...

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Saudi Prince: Fracking Is Threat To Kingdom

A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed elsewhere around the world. Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude...

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Pegatron: Second Apple Firm Slammed In China

Tech giant Apple is under renewed fire over workers' rights in China, according to a report issued by a human rights charity. China Labor Watch (CLW) said it has documented violation of work laws, forced excessive overtime and underage employees at...

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Royal Baby: George Gives UK Business Boost

By Emma Birchley, Sky News Correspondent The UK's newest Prince might be less than a week old but he is already proving to be a trendsetter as aspiring parents race to keep up with the Cambridges. Sales of Britax Baby Safe seats have trebled at...

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Barclays Faces Fresh Customer Mis-Selling Bill

By Mark Kleinman, City Editor Barclays will face up to mis-selling misdemeanours on three fronts next week when it sets aside hundreds of millions of pounds more for historical malpractice. Sky News understands that the bank will make provisions...

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£2bn Lloyds Profit Triggers Stake Sale Talks

By Mark Kleinman, City Editor The agency which manages taxpayers' £19bn stake in Lloyds Banking Group is expected to hold talks with City investors this week about a quick-fire sale of shares as Britain's biggest high street lender unveils a £2bn...

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Welby Defends Wonga After Church Link Emerges

The Archbishop of Canterbury has insisted he was not picking on Wonga after it emerged the Church of England invests in the payday loan firm. The Most Reverend Justin Welby admitted being "irritated" and "embarrassed" by the revelation but went on to...

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Royal Baby: George Gives UK Business Boost

By Emma Birchley, Sky News Correspondent The UK's newest Prince might be less than a week old but he is already proving to be a trendsetter as aspiring parents race to keep up with the Cambridges. Sales of Britax Baby Safe seats have trebled at...

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'Barclays To Pay Out More For Mis-Selling'

Barclays will next week set aside hundreds of millions of pounds more to cover product mis-selling, according to Sky sources. ...

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Welby Defends Wonga After Church Link Emerges

The Archbishop of Canterbury has insisted he was not picking on Wonga after it emerged the Church of England invests in the payday loan firm. The Most Reverend Justin Welby admitted being "irritated" and "embarrassed" by the revelation but went on to...

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Samsung Hits New Record Amid Smartphone Fears

Samsung has reported another record quarterly profit, amid fears over flagging demand for expensive smartphones. The South Korean tech giant, the world's largest technology firm by revenue, said its April-June profit after tax surged 49.7% year-on-year...

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Toyota Still Global Top Seller Amid Boycott

Toyota has shrugged off anti-Japanese sentiment in China to remain the world's top selling carmaker for the first half of this year. It sold 4.91 million cars and trucks around the world for the January-June period - 26,830 vehicles daily. Although...

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Wonga: Archibishop Aims To End Payday Lenders

Church Credit Union Plans Q&A Updated: 10:52am UK, Thursday 25 July 2013 :: What is a credit union? A credit union is essentially a co-operative whose members pool their savings to provide credit at a low interest rate. Members may live in the...

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GDP: Green Shoots Amid 0.6% Growth In Q2

The UK economy saw an estimated GDP growth of 0.6% in the second quarter, according to the Office for National Statistics (ONS). The figure matched market expectations and comes on top of 0.3% growth in the first three months of 2013. The nation recorded...

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Aston Martin Signs V8 Mercedes Engine Deal

British motoring icon Aston Martin has confirmed it has signed a technical partnership deal with Germany's Mercedes to help it to develop a new generation of models with powerful V8 engines. As part of the deal, Mercedes owner Daimler will take a stake...

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Retail Boss McEwan Leads Race For Top RBS Job

By Mark Kleinman, City Editor The head of Royal Bank of Scotland's (RBS's) UK retail banking operations, Ross McEwan, has become a frontrunner to replace Stephen Hester at the helm of the state-backed lender. Sky News understands that Mr McEwan...

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Action! Brit Films Hits New Record High

UK cinema box office receipts rose 6% in 2012 to hit a record of £1.1bn, according to newly released figures. According to the British Film Institute (BFI) 2013 Statistical Yearbook, cinema admissions reached 172.5 million, the third highest level in...

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Help To Buy Extension Sparks New Warnings

Experts Divided Over Help-To-Buy Updated: 12:45pm UK, Tuesday 23 July 2013 By Tadhg Enright, Business Correspondent The Chancellor says that Help-To-Buy will "fix a broken housing system" but critics claim it risks creating another bubble at taxpayers'...

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GSK Admits China Execs Flouted Law Over Drugs

GlaxoSmithKline (GSK) has said that some of its executives in China appeared to have broken the law as part of a major bribery scandal that has ensnared the UK pharmaceutical firm. The news comes as rival UK drugmaker AstraZeneca has confirmed to Sky...

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Big Firms' Audit Overhaul Plans Revealed

The auditing of major UK companies is to be overhauled, according to new plans revealed by the Competition Commission (CC). The accounting sector for large businesses is currently dominated by the so-called big four audit firms - KPMG, Ernst & Young,...

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BBA To Fight Critics With Lending Pledge

By Mark Kleinman, City Editor The British Bankers' Association (BBA) will today attempt to counter critics' argument that its members have done too little to promote business lending with an initiative designed to appease Vince Cable. Sky News...

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OECD Warns Of 'Double-Tax Chaos' For Firms

By Ed Conway, Economics Editor The OECD has raised the prospect of a global tax war, with companies caught having to pay double the levels of previous years, unless countries agree to a new international deal on corporate tax avoidance. In a landmark...

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Mothercare Mulls Sale Of Early Learning Centre

By Mark Kleinman, City Editor Mothercare is considering the sale of its loss-making Early Learning Centre (ELC) chain as it bids to meet a target of restoring its UK operations to profitability by 2015. Sky News has learnt that Mothercare has been...

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Economy Figures Set To Show 'Positive Growth'

By Tadhg Enright, Business Reporter Economists are predicting good news when the first estimate of economic growth during April, May and June is revealed next week. Analysts expect the Office for National Statistics to say that the economy grew...

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Mothercare Mulls Sale Of Early Learning Centre

By Mark Kleinman, City Editor Mothercare is considering the sale of its loss-making Early Learning Centre (ELC) chain as it bids to meet a target of restoring its UK operations to profitability by 2015. Sky News has learnt that Mothercare has been...

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