Lloyds Banking Group Takes New £600m PPI Hit

Lloyds Banking Group has revealed it has set aside another £600m provision for mis-selling of payment protection insurance (PPI). The announcement comes as it released its half-year results, which showed an underlying profit rise of 32% to £3.8bn. ...

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British Gas Half-Year Profit Squeezed By 26%

The parent company of British Gas has reported a large fall in half-year operating profit, which has been blamed on mild weather and the furore over energy bills. Centrica said British Gas Residential saw its earnings fall 26% to £265m in the six months...

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Shell Boosts Profit By 33% Amid Asset Sale

Oil giant Shell has seen its share price surge after it reported a 33% increase in quarterly profit. The Anglo-Dutch company, which is the biggest FTSE 100 firm, beat forecasts to earn £3.6bn in the three months to the end of June. Shares were up almost...

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Ofgem Plan 'Will Cut Energy Bills By £12 A Year'

Energy regulator Ofgem has announced plans to control electricity pricing for the next eight years from April 2015. The watchdog says the move will lead to a £12-a-year reduction in household bills. The proposals, which will be consulted upon for eight...

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Barclays Ups PPI Mis-Sell Provision By £900m

Barclays bank has announced it is making a further £900m provision for mis-selling of payment protection insurance (PPI) to consumers. The announcement comes as the lender released its latest half-year results, which showed a 7% drop in adjusted pre-tax...

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Bank Of England Gets Tough On City Misconduct

By Mark Kleinman, City Editor The Bank of England (BoE) has rewritten the City rulebook, introducing tough new restrictions on bankers' bonuses and the threat of stringent penalties including jail terms for errant executives. Announcing proposals...

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UK Bankers Face Longest Bonus Clawbacks

By Mark Kleinman, City Editor Staff at British banks could be made to hand back bonuses more than six years after the money has been paid to them under a regime that will amount to the world's toughest rules on clawing back remuneration. Sky News...

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Aldi And Lidl 'Victors In Supermarket War'

Discounters Aldi and Lidl have seen their market share surge as Britain's four biggest outlets suffer in the ongoing bitter supermarket war. Research firm Kantar Worldpanel said in the three months to June 20, both of the German-based retailers saw...

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'Dirty Diesel' Drivers Face New Tax In Cities

Drivers of diesel vehicles face having to pay more in taxes and levies as cities around the UK strive to cut air pollution. In London, plans to introduce a £10 charge for the most polluting diesel cars are being considered by Mayor Boris Johnson. These...

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Crashes Push Up Airline Insurance Costs

The global airline industry faces the prospect of huge insurance premium increases, following a spate of crashes. The warning comes as the sector is forecast to see annual losses hit more than £1.2bn - the most expensive year since the 9/11 attacks...

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Fracking: More Protection For National Parks

Fracking will be allowed in national parks and areas of outstanding beauty only in "exceptional circumstances", ministers say, as new bidding for shale exploration licences opens. The policy is part of new guidance published by Government which is aiming...

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GSK Boss Says Pharma Giant May Be Split Up

Drugs giant GlaxoSmithKline (GSK) has revealed a possible spin-off of its consumer healthcare division. Chief executive Sir Andrew Witty said the carve up may occur if it offered more value as a standalone company. It comes following an announcement...

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UK Economy Emerges From Six-Year Downturn

Official figures show the UK economy has emerged from six years of lost growth to return to its pre-crisis peak. The Office for National Statistics (ONS) said Britain's economy was now bigger than it was before the financial crisis as gross domestic...

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Housing Shortage Sees More Tenants Evicted

By Mark White, Home Affairs Correspondent Increasing numbers of private tenants are being evicted or exploited by landlords cashing in on the increase in house prices and the shortage of rented accommodation, according to latest figures. Citizens...

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Gatwick Passengers Suffer Baggage Delays

Hundreds of people arriving into Gatwick Airport's South Terminal have faced long delays in picking up their luggage, with many being told to go home without it. An airport spokesman said the overnight disruption was caused by "resourcing issues" involving...

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UK Economy Emerges From Six-Year Downturn

Official figures show the UK economy has emerged from six years of lost growth to return to its pre-crisis peak. The Office for National Statistics (ONS) said Britain's economy was now bigger than it was before the financial crisis as gross domestic...

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BSkyB Unveils Plan For European Pay-TV Giant

The owner of Sky News has announced an ambitious plan to create a European pay-television giant that will more than treble the company's potential customer base. Announcing its full-year results on Friday, BSkyB confirmed that it had reached a deal...

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Housing Shortage Sees More Tenants Evicted

By Mark White, Home Affairs Correspondent Increasing numbers of private tenants are being evicted or exploited by landlords cashing in on the increase in house prices and the shortage of rented accommodation, according to latest figures. Citizens...

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BSkyB Unveils Plan For European Pay-TV Giant

The owner of Sky News has announced an ambitious plan to create a European pay-television giant that will more than treble the company's potential customer base. Announcing its full-year results on Friday, BSkyB confirmed that it had reached a deal...

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UK Economy Emerges From Six-Year Downturn

Official figures show the UK economy has emerged from six years of lost growth to return to its pre-crisis peak. The Office for National Statistics (ONS) said Britain's economy was now bigger than it was before the financial crisis as gross domestic...

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Lloyds To Claw Back Pay As Libor Fine Looms

By Mark Kleinman, City Editor Lloyds Banking Group is to examine whether it can claw back millions of pounds paid to former executives who will next week be implicated in the global Libor rate-rigging scandal. Sky News understands that the taxpayer-backed...

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Facebook Shares Hit Record High As Profit Soars

Facebook shares hit a new record high after the social network posted profits growth of 137% for its last quarter. All the major indicators of its business health seemingly delighted investors, with revenue from crucial mobile advertising continuing...

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Storm Failings Cost Power Firms Millions More

The UK's energy regulator says two power network operators are to pay an extra £3.3m for failures related to last winter's storms. Ofgem said it had now secured a total of £8m from SSE and UK Power Networks (UKPN) after its investigation into the...

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Deep Debt Warning Issued As Rate Rise Looms

The number of households creaking with crippling debts may double over the next four years, a think-tank has warned. The Resolution Foundation forecast of 1.1 million in the most severe 'debt peril' by 2018 was released alongside advice that consumers...

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Ryanair Fury Over €9.6m State Aid Penalty

Ryanair is facing a legal battle with the European Commission after it was ordered to repay almost €10m (£7.9m) in what was found to be illegal state aid. The no-frills carrier said it had instructed its lawyers to challenge the Commission's findings...

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Govt Accused Of Russian Arms Double Standards

By Alistair Bunkall, Defence Correspondent The UK Government has been accused of double standards over its continued arms sales to Russia. It is still exporting £132m of weapons to Russia despite the shooting down of flight MH17 and previously...

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PayPal Offers 'Faster, Fairer' Cash To UK Firms

Small firms will soon have access to a new source of funding as a debate continues to rage on the availability of cash support from banks. From this autumn, PayPal's business customers, including those on its eBay platform, can secure working capital...

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Gadgets 'Cost Hundreds Of Pounds More In UK'

Consumers in the UK are paying hundreds of pounds more for some gadgets than US shoppers, a watchdog says. Which? compared the prices - excluding tax - of 13 products ranging from televisions to computer applications, and found Britons were getting...

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Banks Face £1.5bn Hit From PPI Claims Deluge

By Mark Kleinman, City Editor Britain's largest high street banks will announce next week that they are setting aside more than £1bn in additional provisions to compensate customers who were mis-sold payment protection insurance (PPI). Sky News...

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Russia Faces 'Hard-Hitting' Sanctions Over MH17

Russia Only Needs To Create Doubt Over MH17 Updated: 12:50pm UK, Tuesday 22 July 2014 By Katie Stallard, Moscow Correspondent From a cavernous situation room inside the Russian Ministry of Defence, the Lieutenant-General set out Russia's version...

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Tesco Chief Philip Clarke To Step Down

Tesco's chief executive Philip Clarke is to quit after a string of poor results for the supermarket giant. The group, which is seeing its worst sales performance in four decades, announced Mr Clarke's departure as it issued a fresh warning on profits....

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UK Economy Forecast To Outstrip Global Rivals

The UK economy is forecast to grow faster this year than any other country in the group of G7 developed nations. A report by the Ernst and Young Item Club - an influential economic forecasting group - predicts GDP will hit 3.1 per cent this year. But...

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Savers To Get Free Advice On Pension Pots

Millions of people are to be given free, impartial advice on how to make the most of their retirement savings. It follows changes announced by the Chancellor in the Budget, which give savers more flexible access to their pension pots and crucially,...

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