Sellafield Nuclear Workers Told To Stay Home

Non-essential staff at the Sellafield nuclear site in Cumbria have been asked to stay at home due to elevated radiation levels. The plant was operating normally but with "reduced manning levels" while the cause of the higher reading at the north end...

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Online Hotel Booking Prices Face 'Overhaul'

Travellers will be offered greater discounts for online hotel bookings after an investigation by the Office for Fair Trading (OFT). The announcement comes after the regulator investigated competition concerns that two large online travel agents (OTAs)...

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Oxo-Maker Demands Banks Stump Up £1bn Deal

By Mark Kleinman, City Editor The owner of Mr Kipling cakes and Oxo stock cubes is demanding that banks participating in a forthcoming capital-raising agree to lend it millions of pounds to help overhaul its finances. Sky News understands that...

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Sainsbury's Shares Drop As Justin King Quits

What Has Justin King Done As CEO? Updated: 11:17am UK, Wednesday 29 January 2014 The outgoing chief executive of Sainsbury's, Justin King, has been credited with turning the retailer around during the last 10 years, with an impressive list of achievements...

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Mulberry Value Plunges After Warning Issued

Luxury British fashion firm Mulberry has seen up to £140m wiped from its value, after issuing a dramatic profit warning. It said annual profit would be "substantially" below forecasts due to heavy discounts in the Christmas period in Britain. The company's...

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Lloyds Eyes Takeover Deals In 'Symbolic' Move

By Mark Kleinman, City Editor Lloyds Banking Group has begun scouting for takeover deals that would mark a symbolic step in its recovery from the financial crisis that left UK taxpayers as its largest shareholder. Sky News has learnt that Lloyds...

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Cable Warns About Wrong Type Of Recovery

Business Secretary Vince Cable has warned that Britain's economic recovery could prove to be a "short-term bounce" if it is based on a housing boom. He made the comments on the eve of the publication of the latest GDP figures, which have shown the country's...

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iPhone Sales Drive Record Apple Revenue

The release of Apple's iPhone 5s and iPhone 5c have helped drive record revenue figures for the tech giant, the company's quarterly results show. Apple's revenues rose to $57.6bn (£34.7bn) for the last three months of 2013, which is a new quarterly...

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Economy Grows At Fastest Rate Since Crash

The British gross domestic product (GDP) figure for the fourth quarter of 2013 stood at 0.7%, with growth for the full year reaching 1.9%. Output for 2013 reached its fastest annual rate of growth for six years, according to the Office for National...

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Google Buys UK Intelligence Firm DeepMind

Google has bought a London-based tech company that specialises in artificial intelligence (AI), Sky News has confirmed. It purchased DeepMind Technologies Ltd in a deal worth a reported £240m. One of the DeepMind's current directors previously...

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Business Bosses Slam Labour's 50p Tax Rate

A group of senior business leaders has written an open letter criticising Labour's plan to raise the top rate of tax. Shadow chancellor Ed Balls confirmed at the weekend his party would restore the 50p tax rate if it gets into power at the next general...

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Cameron Pledges To Slash 'Crazy' Red Tape

Thousands of pages of "crazy" guidance for businesses will be cut by up to 90%, the Prime Minister has told business leaders. Speaking at a Federation of Small Businesses (FSB) conference, David Cameron has said the coalition is planning to scrap or...

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Nestlé Chair Warns Over UK Exit From Europe

By Mark Kleinman, City Editor, in Davos The consumer goods giant Nestle would be forced to re-evaluate the extent of its presence in the UK if Britain decided to leave the European Union, its chairman has told Sky News. In an interview during the...

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Non-EU Banks Slip Through Bonus Cap Loophole

By Mark Kleinman, City Editor in Davos Major global banks such as Morgan Stanley and Nomura are benefiting from a loophole in new European pay rules that could leave British rivals at a big disadvantage. Sky News understands that banks based outside...

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AT&T Courts Europe Over £60bn Vodafone Bid

By Mark Kleinman, City Editor, in Davos US telecoms giant AT&T is courting European regulators as it accelerates work on a possible £60bn takeover bid for Vodafone. Sky News has learnt that Randall Stephenson, AT&T's chairman and chief...

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Royal Mail Rides The Online Parcel Wave

The newly-privatised Royal Mail has revealed a rise in parcel delivery revenue of 8% in the nine months to December 29. The spike in like-for-like earnings comes as the shift to online purchases continues. The company said the figures were boosted...

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Hornby Hits The Rails Over Supply Chain Woes

Profit for model train maker Hornby has been derailed, after the company admitted problems with its supply chain. The Kent-based company released an interim management statement and also warned it has lost almost £1m in sterling reserves used to purchase...

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Nestlé Chair Warns Over UK Exit From Europe

By Mark Kleinman, City Editor, in Davos The consumer goods giant Nestle would be forced to re-evaluate the extent of its presence in the UK if Britain decided to leave the European Union, its chairman has told Sky News. In an interview during the...

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Help To Buy Scheme: Under 40s Rush To Apply

Nearly half of would-be homeowners under the age of 40 are planning to apply for Help To Buy assistance this year, a new study suggests. According to research by Experian, 39% of those aged between 20 and 40 hope to apply for the Government initiative...

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Penalty-Free Phone Switching Imposed By Ofcom

Householders and small businesses can now change telecoms providers if prices are raised without warning. Consumers now have the right to exit landline, broadband or mobile contracts without incurring a penalty on monthly contract price terms. The...

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Man Utd Relegated From Football's Richest Three

Manchester United has been relegated from the top three in a global rich list of football teams. The English club has been squeezed out by greater success at Real Madrid, Barcelona and Bayern Munich. The list, compiled by 'Big Four' accountancy firm...

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Unemployment Rate Falls To 7.1% In Job Surge

The UK unemployment rate fell to 7.1% during the three months to the end of November, prompting concerns of a rise in mortgage rates. It was the biggest ever quarterly increase in employment. A total of 280,000 jobs were created in the period. The...

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Npower Slammed By Ofgem Over Billing Claims

The energy watchdog and the Government have accused gas and electricity supplier npower of "misleading" consumers over the cost structure of household bills. Npower released a 14-page document which sought to "create a better understanding of the facts...

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Cable Vows Fight Over Royal Mail Chief's Pay

By Mark Kleinman, City Editor An explosive executive pay row is brewing between Vince Cable and Royal Mail over the £1.5m package earned by the newly privatised company's chief executive. Sky News can reveal that the Business Secretary is preparing...

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Power Bosses Questioned Over Storm Response

By Ashish Joshi, Sky News Correspondent The bosses of some of the country's leading power distribution companies are being questioned about their response to the Christmas storms by a panel of MPs. The House of Commons Energy and Climate Change...

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Small Business Lending Has Gone Down Say MPs

Many smaller firms are still struggling to get finance and Whitehall is not doing enough to raise awareness of the help available it has been warned. But the critical report by the Commons Public Accounts Committee has been rejected by the Government,...

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OneSavings Heeds Miliband Call In Float Push

By Mark Kleinman, City Editor A lender backed by a prominent Wall Street financier is stepping up plans for a stock market flotation that it hopes will help it to become a serious challenger to the main high street banks. Sky News has learnt that...

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Fashion Chain Fat Face Dressed Up For Float

By Mark Kleinman, City Editor The fashion retailer Fat Face is stepping up plans to make its stock market debut following a Christmas trading period in which it emerged as one of the high street's leading performers. Sky News has learnt that Fat...

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KPMG Investigated Over Co-op Bank Audits

'Big Four' accounting firm KPMG is being investigated by the accounting watchdog over auditing of the beleaguered Co-op Bank, it has been confirmed. The Co-op Bank had bid for 632 Lloyds Banking Group branches in 2013 but a £1.5bn capital shortfall...

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IMF Upgrades UK Growth Forecast Above Rivals

By Ed Conway, Economics Editor The International Monetary Fund is on the brink of upgrading its growth forecast for the UK more than any other major economy, Sky News has learnt. The Fund is poised to increase its projection for UK growth in 2014...

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Miliband Promises 'Reckoning' With Big Banks

Is The Banking System Broken? Updated: 12:36pm UK, Friday 17 January 2014 By Joel Hills, Business Presenter Folklore at Tesco has it that any internal business pitch to the former boss Sir Terry Leahy which didn't include the word "customer" in...

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Fastest Growth In Retail Sales Since 2004

Brisk business for smaller retailers ahead of Christmas helped sales volumes grow at their fastest annual pace since 2004 in December. Figures from the Office for National Statistics (ONS) measured 2.6% growth during December to show an annual increase...

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Bingo Hall Burden: MPs Call For Tax Cuts

By Adele Robinson, Sky News Correspondent The UK's bingo hall business will "stagnate" if the Government does not cut tax on it, campaigners say. More than 50 MPs are backing calls to reduce duty and bring levies on the game in line with other...

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Exchanges Group ICE To Unveil Libor Reforms

By Mark Kleinman, City Editor Administration of the tainted interbank borrowing rate Libor will be handed over next month following approval from the City regulator. Sky News understands that the US-based IntercontinentalExchange Group (ICE) will...

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Fastest Growth In Retail Sales Since 2004

Brisk business for smaller retailers ahead of Christmas helped sales volumes grow at their fastest annual pace since 2004 in December. Figures from the Office for National Statistics (ONS) measured 2.6% growth during December to show an annual increase...

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