Lloyds Bank: More Than 200 Branches To Close

By Mark Kleinman, City Editor Britain's biggest retail bank will set out plans next week to close more than 200 branches under a blueprint that will also see 9,000 jobs disappear. Sky News understands that Lloyds Banking Group will say that a significant...

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Over Five Million Britons In Low-Paid Jobs

A record five million UK workers are now in low-paid jobs, according to a new report. The Resolution Foundation think-tank said the number of people earning less than £7.69 an hour increased by 250,000 last year to reach 5.2 million. The increase...

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Dozens of European Banks Fail Health Checks

One in five banks in the Eurozone would be unable to survive another major economic crisis, and some institutions could be shut down if their finances do not improve. A detailed report by the European Central Bank has revealed that 25 banks are in...

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UK's Surcharge Row: Your Questions Answered

What is the European Commission asking for from the UK? Britain has been told it has to pay an extra £1.7bn (€2.1bn) towards the European Union budget. This is being called a one-off bill which would add about a fifth to the UK's annual net contribution...

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EU Wants An Extra £1.7bn Payment From UK

Britain is facing a demand from the European Union for an extra £1.7bn because of the growth of the economy. The increase would add almost a fifth to the UK's annual contribution of £8.6bn. A spokesperson for the European Commission said it was fair...

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Economy: Third Quarter Growth Slows To 0.7%

UK economic growth slowed in the third quarter of the year, according to the first official estimate of GDP for the period. The Office for National Statistics (ONS) measured Gross Domestic Product growth of 0.7% in the period, down from output growth...

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Lloyds To Cut 9,000 Jobs In Three-Year Plan

By Mark Kleinman, City Editor Lloyds Banking Group is to cut approximately 9,000 jobs - equating to just over 10% of its workforce - as part of moves to automate consumer-facing services at the UK's biggest high street lender. Sky News has learnt...

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Tesco Profits Plunge 92% In Accounting Chaos

Tesco chairman Sir Richard Broadbent is to quit as an inquiry into its accounting practices reveals a £263m profit overstatement, resulting in a 92% fall in first-half profits. The supermarket chain said an internal investigation by Deloitte into...

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Profit Fall Points To Scale Of Tesco Chief’s Task

There's no getting away from it: today's numbers from Tesco are horrible, whichever way you look at them. First, the positive spin. A 4.6% fall in UK like-for-like sales was - astonishingly - better than many analysts had forecast, while a £937m...

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US Firm Bolsters Ebola Vaccine War Chest

The race to develop the first vaccine to combat Ebola has intensified, with a US firm investing a further $200m (£120m) to accelerate testing. Johnson & Johnson (J&J) said it was aiming to produce one million doses to protect against the virus...

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Homebase: A Quarter Of Stores To Be Closed

The owner of the DIY chain Homebase is to close a quarter of its stores over the next three years, leaving thousands of jobs hanging in the balance. Home Retail Group (HRG), which made the announcement as it confirmed its half-year results, said it...

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Apple Warns Users Over Chinese iCloud Attack

Apple has acknowledged the iCloud security threat for the first time, posting a new security warning for users of its online service. In a post on its support site the technology giant said: "We're aware of intermittent organised network attacks using...

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Royal Mail And Amazon Create 32,000 Xmas Jobs

More than 30,000 temporary jobs are to be created for the Christmas postal rush, it has been announced. Royal Mail said it would take on 19,000 additional workers and online retailer Amazon wanted 13,000 staff. Privatised last October, Royal Mail...

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Comparison Sites Under Fire Over 'Kickbacks'

Price comparison websites have been accused of hiding the best energy deals from consumers. Instead, tariffs are promoted from providers who are paying the sites up to £60 commission when a user switches, according to consumer group The Big Deal....

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Major Fire Rips Through Didcot Power Station

Firefighters are investigating the cause of a major blaze that took hold of Didcot Power Station last night. The fire began in one of the gas-fired cooling stations and was described by Oxfordshire Fire And Rescue as "very serious". Twelve fire...

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Bank 'Gloomier' As Economy Woes Hit Markets

The Bank of England's chief economist has spoken of his concerns for the UK's economic outlook as it writhes in both "agony and ecstasy" alongside weaker global growth. Andy Haldane told a business audience the Bank may need to keep interest...

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Tesco Profit Shortfall 'Better Than Feared'

By Mark Kleinman, City Editor A shortfall in half-year profits at Tesco which plunged Britain's biggest retailer into crisis is next week expected to be disclosed to have been smaller than initially feared. Sky News understands that the supermarket...

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UK Firms Consider Paying For Egg Freezing

By Rhiannon Mills, Sky News Correspondent British companies have said they would consider following Apple and Facebook's lead by paying for female staff to freeze their eggs. With the US tech giants now offering the fertility treatment as a benefit,...

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UK Banks To Take Forex Fines Hit Within Weeks

By Mark Kleinman, City Editor Some of Britain's biggest banks will set aside hundreds of millions of pounds in the next few weeks as they prepare to settle with regulators after a probe into the manipulation of foreign exchange markets. Sky News...

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Bank 'Gloomier' As Economy Woes Hit Markets

The Bank of England's chief economist has spoken of his concerns for the UK's economic outlook as it writhes in both "agony and ecstasy" alongside weaker global growth. Andy Haldane told a business audience the Bank may need to keep interest...

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Virgin Money Delays Float Amid Market Chaos

By Mark Kleinman, City Editor Virgin Money is extending the timetable for its £2bn stock market listing because of market volatility which has prompted the collapse of several high-profile City deals. Confirming a report by Sky News the bank, which...

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Bank 'Gloomier' As Economy Woes Hit Markets

The Bank of England's chief economist has spoken of his concerns for the UK's economic outlook as it writhes in both "agony and ecstasy" amid weaker global growth. Andy Haldane told a business audience the Bank may need to keep interest...

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Global Markets Q&A: What Is Causing The Fall?

Volatile trading has continued into a second day after weak growth reports sparked a big sell-off earlier this week. But what has caused the markets to get jittery? :: Why are markets plunging? Good question. As ever with global markets, there's...

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Virgin Money Delays Float Amid Market Chaos

By Mark Kleinman, City Editor Virgin Money is extending the timetable for its £2bn stock market listing because of market volatility which has prompted the collapse of several high-profile City deals. Confirming a report by Sky News the bank, which...

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Markets Fall Further As Global Weakness Hits

The sharpest fall in European stocks since 2011 has been followed by a second day of steep drops as investors flee risk because of global economic weaknesses. Many stock markets, including the FTSE 100, recovered some ground lost on Wednesday...

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BSkyB Reports Rise In Revenue And Profit

BSkyB, the home entertainment company which owns Sky News, hailed strong demand from customers for new products as it unveiled quarterly revenue growth which beat City estimates. The company said first-quarter sales in the three months to the end...

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Bank Raises Fixed Pay As Crackdown Looms

By Mark Kleinman, City Editor Some of London's top bankers are being handed pay rises as European regulators demand restrictions on allowance awards which enable lenders to pay bigger bonuses. Sky News has learnt that Nomura, the Japanese bank which...

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Jobless Total Back Below Two-Million Mark

The latest unemployment figures show the jobless total below the two-million mark for the first time since 2008. The Office for National Statistics (ONS) said unemployment fell by 154,000 in the three months to August to 1.97 million, with the jobless...

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Apple And Facebook Pay To Freeze Staff Eggs

Facebook and Apple are giving female staff the opportunity to delay plans to start a family by paying for them to freeze their eggs. The firms are covering up to $20,000 (£12,600) for the procedure and annual storage costs, according to reports. ...

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Sainsbury's Endures Backlash On Nectar Cuts

Sainsbury's customers have threatened to shop elsewhere after the supermarket chain confirmed it was planning cuts to its Nectar reward points. The company, which announced the changes in an email, said it was halving points to one per pound...

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Tesco Suspends More Execs Over Profits Row

Tesco has suspended another three executives as it continues its investigation into a £250m profit black hole. Sky Sources suggest they are Dan Jago, head of beer, wine and spirits and director of convenience Sean McCurley. The other man is understood...

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Inflation Falls To Five-Year Low Of 1.2%

Plunging fuel costs and a supermarket price war are being credited for the latest dip in the annual rate of inflation. The Office for National Statistics (ONS) measured a 1.2% rise in consumer prices in the 12 months to September - its lowest level...

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Three Big Six Firms Face Watchdog Meter Probe

The energy regulator is investigating three 'Big Six' energy firms over a slow roll-out to businesses of advanced electricity meters. Ofgem said British Gas, E.ON and npower were the poorest performers in terms of completion rates. Under...

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Amazon To Create 1,000 UK Warehouse Jobs

Amazon has announced plans to hire a further 1,000 staff for its UK warehouse operations. The online retailer, which just a month ago said it was expanding its UK office operations, said the separate announcement would boost staffing levels across...

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FTSE 100 Directors' Earnings Up 21% In A Year

A steep rise in long-term incentives meant directors at FTSE 100 companies earned 21% more in the last financial year, a report has found. The study by employment research specialists Incomes Data Services (IDS) suggests average annual earnings for...

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