Canadian Funds In Talks Over £2.8bn O2 Stake

By Mark Kleinman, City Editor Two of Canada's largest pension funds are in talks about acquiring a multibillion pound stake in the company that is expected to become the UK's biggest mobile communications provider. Sky News understands that the Canada...

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Customers 'Duped' By Energy Switching Deals

Energy price comparison websites have been "duping" customers into switching to deals that are not the cheapest on the market and should pay them compensation, a group of MPs have said. The Energy and Climate Change Committee said some sites had used...

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Unions Protest As East Coast Line Goes Private

Rail unions are planning to stage protests along the East Coast Main Line later - marking the day before the route is re-privatised by the Government. The Rail, Maritime and Transport union is organising gatherings in London, Doncaster and Edinburgh...

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Lloyds Resumes Dividend As Profits Quadruple

Lloyds Banking Group is to pay a dividend for the first time since its taxpayer bailout after annual profits quadrupled to £1.76bn in 2014. The taxpayer is set to net £130m from the payment, which equates to 0.75p-per-share or £535m in total. It...

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BA Owner's Shares Soar On Profit Take-Off

The owner of British Airways, International Consolidated Airlines Group (IAG), has confirmed a 265% rise in annual profits to £601m. The company, which is currently aiming to bring Irish carrier Aer Lingus into its stable, said Spain's Iberia...

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Royal Mail To Raise Stamp Costs From 30 March

Royal Mail is to increase the costs of both first and second class stamps from 30 March. The news was contained in an announcement about wider pricing of letters and parcels. It said the prices for first and second class stamps would rise 1p to 63p...

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RBS Posts £3.5bn Loss As Boss Hands Back £1m

A £4bn writedown on its US business meant Royal Bank of Scotland (RBS) remained in the red in 2014, with the bank confirming a £3.5bn loss. The annual loss marked the seventh consecutive year the part-nationalised bank has failed to achieve profitability,...

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StanChart To Name Winters As Next Chief

By Mark Kleinman, City Editor The struggling emerging markets lender Standard Chartered is appointing a former architect of British banking reform as its new chief executive. Sky News has learnt that Bill Winters, who was a member of the Independent...

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Ladbrokes Nets More Cash From Gaming Machines

Ladbrokes has revealed a significant rise in earnings from gaming machines described by critics as the 'crack cocaine of gambling', ahead of an industry-wide crackdown on their use. The bookmaker said it was now making almost £1,000 weekly from each...

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TSB Lures Customers From High Street Rivals

The newly spun-off TSB bank has seen its pre-tax profit rise by 2.3%, as it lures customers from established high street rivals. As a result, the company said it would consider making acquisitions in the future to help accelerate expansion plans....

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Apple Fined $500m For iTunes Patent Infringement

Apple has been told pay $533m (£343m) after a jury in Texas found that iTunes infringes three patents. A jury deliberated for eight hours and found that the world's most-valuable company willfully used Smartflash's patents without permission. Smartflash...

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AO World Shares Plunge 46% On Profit Warning

Online white goods retailer AO World has seen its share price drop by almost 50% in early trades, wiping £500m from its market value. The plunge occurred after it released a statement lowering its financial forecast for the full-year ending March...

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Payday Loan Shake-Up Prompts Wonga Job Cuts

Wonga has announced hundreds of job losses, hours after a regulator confirmed new rules for payday loan firms to boost competition and help borrowers shop around. In its final report on the controversial industry after a 20-month investigation, the...

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Greek Economic Reforms 'Valid Starting Point'

Hopes have been raised that Greece will secure its four-month bailout extension, with a European Commission source welcoming its planned economic reforms. The list of measures, which has to be agreed by its creditors in return for funding from next...

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Aviva Investors Fined £17.6m For Failings

The City regulator has fined investment firm Aviva Investors £17.6m for systems and controls failings that "led to its failure to manage conflicts of interest". The Financial Conduct Authority (FCA) explained that the case centred on the payment of...

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UK Banks Slash Ranks Of Millionaire Pay Deals

By Mark Kleinman, City Editor The UK's biggest banks slashed the number of employees earning at least £1m last year in a move they will argue demonstrates that they are heeding calls for greater pay restraint. Sky News understands that Barclays,...

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HSBC Annual Profits Fall 17% To £12.14bn

HSBC, the global bank currently at the centre of a tax scandal, has blamed a 17% fall in annual profits on the cost of past mistakes. The London-listed group said reported profit before tax fell to $18.68bn (£12.14bn) in 2014 and it reflected "lower...

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HSBC Boss Gulliver In £5m Swiss Account Claims

Stuart Gulliver, HSBC's chief executive, reportedly kept millions of his own money sheltered in the bank's private Swiss offshoot. The Guardian says Mr Gulliver - who announced the bank's full-year results this morning - kept $7.6m (£4.93m) via...

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Greece Agreement 'Old Deal In New Clothing'

The clue came right at the start of Yanis Varoufakis' press conference. Up until last night's bailout extension deal, the Greek finance minister spent most of his international media appearances addressing an international audience - speaking fluent,...

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New Look Fashions Plans For £2bn Flotation

By Mark Kleinman, City Editor The high street fashion retailer New Look has recruited bankers to work on a stock market listing that could value it at as much as £2bn. Sky News has learnt that the company this week appointed JP Morgan, the Wall Street...

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Eurozone Agrees To Extend Greek Bailout

Eurozone finance ministers have agreed to extend Greece's rescue loans - although not by as long as the government wanted. The deal, which will enable Athens to continue paying its bills, was reached at talks in Brussels which were delayed for...

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New Look Fashions Plans For £2bn Flotation

By Mark Kleinman, City Editor The high street fashion retailer New Look has recruited bankers to work on a stock market listing that could value it at as much as £2bn. Sky News has learnt that the company this week appointed JP Morgan, the Wall Street...

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Eurozone Agrees To Extend Greek Bailout

Eurozone finance ministers have agreed to extend Greece's rescue loans - although not by as long as the government wanted. The deal, which will enable Athens to continue paying its bills, was reached at talks in Brussels which were delayed for...

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Greece Agreement 'Old Deal In New Clothing'

The clue came right at the start of Yanis Varoufakis' press conference. Up until last night's bailout extension deal, the Greek finance minister spent most of his international media appearances addressing an international audience - speaking fluent,...

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UK Warning As Germany Rejects Greek Loan Plan

The continuing stand-off between the eurozone and Greece over its debt could lead to a "full blown crisis", George Osborne has warned. The Chancellor made his comments as eurozone finance ministers prepare for crunch talks later on whether to extend...

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Tough Talks On Greek Debt As D-Day Looms

These could well prove the most important few days in the euro's existence. In the corridors and meeting rooms of the Justus Lipsius building in Brussels, Greece and its euro counterparts have been charged with discussing how to keep the struggling...

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Deferred Bonuses Hand Osborne Tax Windfall

A windfall from bonuses deferred by top earners has helped public sector net finances show a surplus of £8.8bn - the highest for seven years. The Office for National Statistics (ONS) said the surplus in January was up £2.3bn on the same month...

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British Gas Blames Warmth For 23% Profit Fall

The company that owns British Gas has blamed warm weather for a 23% slump in profits at its residential supply business. Centrica reported earnings of £439m during 2014 at the division, which supplies gas and electricity to homes - down...

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