Customers To Switch Energy Firms In 24 Hours

By Anushka Asthana, Political Correspondent Consumers should not need to be "stock market analysts" to be able to switch energy firms simply, the Energy Secretary has said. Ed Davey said he was preparing to introduce plans to make it simpler...

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House Prices Rise 1% But Are 7% Below Peak

House price growth accelerated in October amid continuing fears of a price bubble but the average cost of a home is still 7% below the record level measured in 2007. The latest Nationwide House Price Index charted a 1% increase over the month following...

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House Prices: 'Tax To Tackle London Bubble'

By Ed Conway, Economics Editor George Osborne is considering slapping new taxes on foreign property investors in an effort to tackle what many see as a house price bubble in London and the South East of Britain. The Chancellor is actively investigating...

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Pensions: 'Rip-Off' Charges Targeted By Govt

Plans to stop "rip-off" pension charges could see people getting an extra £100,000 in their retirement savings pot. The Government is to unveil plans that could include a ban on all charges above 0.75% a year as it rolls out landmark reforms to automatically...

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Barclays In Currency Probe As Profits Dive

Barclays has confirmed a 26% fall in quarterly pre-tax profits and admitted it is facing international regulatory scrutiny over the possible manipulation of currency trading. The third quarter brought in £1.39bn, amid higher spending to achieve its...

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Back-To-Work Schemes 'Legally Flawed'

By Tom Parmenter, Sky News Correspondent The Government's back-to-work schemes, under which people on benefits work for free, are legally flawed, the Supreme Court has ruled. Judges upheld an earlier Court of Appeal ruling which found that 2011...

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Lloyds Profits Hit As PPI Bill Tops £8bn

Lloyds Banking Group has set aside another £750m to cover the costs of the payment protection insurance (PPI) scandal, taking its total provision past £8bn. The part-nationalised lender confirmed the news - broken by Sky's City Editor Mark Kleinman on...

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Energy Prices: MPs To Turn Up Heat On 'Big Six'

Energy: Who Are The Big Six? Updated: 10:56am UK, Tuesday 29 October 2013 By Anushka Asthana, Political Correspondent As energy bills continue to dominate in Westminster, MPs will today hear from the "Big Six" companies – who together supply over...

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Fox's Eyes Joint Bid For Rival Biscuit-Maker

By Mark Kleinman, City Editor Fox's, one of the UK's biggest biscuits brands, is in talks with private equity funds about a joint bid for rival Burton's Foods, the maker of Jammie Dodgers and Wagon Wheels. Sky News understands that Clayton Dubilier...

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HS2 Alternative 'Will Cause Years Of Gridlock'

By Anushka Asthana, Political Correspondent Railway services between the north and south of England will be crippled by 14 years of weekend closures if HS2 is abandoned for an alternative, ministers will claim this week. The warning will be part...

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Mangaung: G4S Prison In 'Torture' Claims Probe

A South African prison run by British security firm G4S has been accused of torturing inmates with electric shocks and subjecting them to forced injections. Insiders at Mangaung Correctional Centre, near Bloemfontein, said water was thrown over inmates...

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Storm Causes Major Headache For Commuters

Hurricane-strength winds have brought travel chaos to large parts of the UK. Hundreds of rail services were cancelled as more than 200 trees fell on lines in the South and South East. Parts of the network were so badly damaged that several operators,...

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McDonald's To Drop Heinz After CEO Change

McDonald's has announced it will end a 40-year relationship with Heinz as the sauce company is now led by the former chief of rival Burger King. "As a result of recent management changes at Heinz, we have decided to transition our business to other...

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Osborne To Stop Short Of Full RBS Break-Up

By By Mark Kleinman, City Editor George Osborne will stop short of ordering a full break-up of Royal Bank of Scotland (RBS) following a review that will aim to redeploy billions of pounds of capital for lending into the British economy. Sky News...

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Twitter 'Test Float' To Avoid Facebook Flop

Twitter has had a 'test run' of its flotation on the stock market – to help avoid a similar flop of Facebook last year. The mock market launch by the New York Stock Exchange on Saturday was done to avoid social media competitor's launch on the rival...

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UK Economy: GDP Growth Accelerates To 0.8%

The Chancellor claims there is now "real momentum" in the UK's economic recovery after GDP growth of 0.8% was measured in the third quarter. The Office for National Statistics (ONS) said it marked the strongest period of growth in more than three years...

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Family Not Seeing 'Green Shoots' Of Recovery

By Emma Birchley, East Of England Correspondent The green shoots of economic recovery might be growing stronger but the Horton family is not feeling the effects. "It's been really, really tough. We are struggling to make ends meet," said Spencer,...

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JPMorgan To Pay £3.2bn In Mortgage Settlement

JPMorgan has agreed to pay $5.1bn (£3.2bn) to resolve claims it misled mortgage lenders before the housing crash. The deal settles a lawsuit brought by American regulators over the quality of mortgages sold to US loan giants Fannie Mae and Freddie Mac...

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UK Economy: GDP Growth Accelerates To 0.8%

The Chancellor claims there is now "real momentum" in the UK's economic recovery after GDP growth of 0.8% was measured in the third quarter. The Office for National Statistics (ONS) said it marked the strongest period of growth in more than three years...

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Serco Boss Quits Amid Contracts Scandal

Serco, the outsourcing firm at the centre of a Government contract scandal, has confirmed its chief executive has stepped down. The company said Chris Hyman was leaving in a last ditch bid to restore its reputation amid a wider restructuring - splitting...

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Grangemouth's Future Saved In Last-Minute Deal

Grangemouth petrochemicals plant has been saved following a last-minute deal. The 800 workers who were due to lose their jobs at the Falkirk plant - Scotland's largest industrial site and its only refinery - were told the news at 11am today. It came...

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Samsung Fined For 'Web Campaign Against HTC'

Samsung has been fined in Taiwan over an alleged internet campaign to undermine the reputation of rival mobile phone maker HTC. Taiwan's Fair Trade Commission (FTC) confirmed a penalty of $340,000 (£210,000) - the second fine it has levelled against...

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Grangemouth: Union Backs Down 'To Save Plant'

The Unite union has confirmed it will now "embrace" a survival plan at Grangemouth in an effort to reverse a decision by the owner to close its petrochemicals plant. The move was announced following talks between union officials and management at Ineos...

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Royal Mail May Have Been Undervalued

By Mark Kleinman, City Editor JPMorgan told the Government earlier this year that it believed Royal Mail could be worth up to £10bn, including its debts, ahead of the postal operator's privatisation. Sky News has learnt that corporate financiers...

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Job Losses As Petrochemical Plant To Close

The owner of the Grangemouth petrochemical plant is to close the operation permanently and keep shut, for now, its major oil refinery amid a continuing pay dispute. The move threatens up to 800 jobs at the petrochemicals business, which makes products...

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EU Cap Pushes Barclays Into Third Way On Pay

By Mark Kleinman, City Editor Barclays is drawing up secret plans to negate European Union restrictions on bankers' pay by introducing a separate chunk of remuneration that would be determined by an individual's seniority. Sky News has learnt that...

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PM Vows To Roll Back Green Taxes On Energy

David Cameron has promised to "roll back" the green taxes that have been blamed for pushing up energy bills after another bitter row with Ed Miliband. The Prime Minister signalled he wanted to "get to grip" with green regulations, which energy firms...

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Grangemouth: Owner 'In Dark' As Buyer Sought

The owner of the Grangemouth refinery, currently shut down during a bitter dispute with staff, has told Sky News it did not know the Scottish Government was seeking a new buyer. Finance Secretary John Swinney confirmed talks with several parties after...

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Energy Regulator Moves To Protect Fixed Rates

Energy suppliers have been banned from increasing their prices on fixed-rate deals, the industry regulator confirmed while announcing an £8.5m penalty against ScottishPower over misleading sales techniques. Ofgem said ScottishPower would pay £7.5m to...

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