City News

Banking review 'brought forward'

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A review of competition in the small business banking sector has been launched following calls for an inquiry by the Commission on Banking Standards.

Ryanair spends £10bn on planes

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Low-fares airline Ryanair has confirmed it would be buying around £10 billion-worth (11.6 billion euro) of new planes in a move that will create more than 3,000 jobs.

Chinese company buys UK yacht maker

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A Chinese firm has revealed a £1 billion investment in the UK after snapping up a yacht manufacturer and unveiling plans for a luxury five-star hotel.

Sir Mervyn outvoted by rate-setters

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Sir Mervyn King has been denied his parting wish for more money-boosting measures this month after being outvoted in his final Bank of England rate-setting meeting.

ITV snaps up stake in drama maker

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Broadcaster ITV has agreed a 30 million US dollar (£19 million) deal to buy a majority stake in the producer behind award-winning American western drama Hatfields & McCoys, starring Kevin Costner.

JD Sports set for big outdoor loss

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Retailer JD Sports Fashion has warned its Blacks and Millets outdoor division is set for another "substantial" loss, despite a return to sales growth.

Reckless bankers could face jail

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The Government will legislate to ensure reckless bank bosses can be jailed and bonuses can be clawed back, David Cameron has said.

Osborne to spell out bank plans

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George Osborne is to shed light on his plans for the banking industry following the long-awaited report from the Parliamentary Commission on Banking Standards.

PM hails 'frank' G8 talks on Syria

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David Cameron has promised that Britain will not "plunge recklessly" into deeper involvement in the Syrian civil war, but said it was not possible to ignore the escalating slaughter going on in the country.

RBS split raised amid banks rethink

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Radical plans to split Royal Bank of Scotland (RBS) into a "good" bank and a "bad" bank must be looked at immediately as part of an urgent rethink of Government plans for privatisation, according to an influential Parliamentary commission.

Recruitment difficulties revealed

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Three out of five organisations have had problems filling vacancies, especially for managerial and professional staff, according to a new report.

Hogg appointed as Bank's new COO

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The Bank of England has continued its shake-up by appointing a senior female banker to the new role of chief operating officer.

Cold weather warms Costa sales

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Coffee chain Costa has warmed shares in parent company Whitbread after figures revealed another sales boost during Britain's colder-than-normal spring.

Lloyds denies Co-op deal pressure

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Lloyds Banking Group bosses have denied they faced political pressure to accept the Co-operative Bank's ill-fated £700 million bid for its branches, insisting they acted in the best interests of shareholders.

Trader charged over 'fraud plot'

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A City trader has been charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office into the manipulation of the Libor interbank lending rate.

Crest hails strong market recovery

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Crest Nicholson hailed "strong" progress in its return to the stock market after Britain's property market bounce helped it to a 76% surge in profits.

Inflation rise bigger than expected

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The squeeze on consumers intensified last month as soaring air fares and more expensive clothing and footwear lifted inflation higher than expected.

RBS boss 'decided to go' - Osborne

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George Osborne insisted Stephen Hester made the decision to quit as head of Royal Bank of Scotland (RBS) following claims that he effectively forced him out.

£330m research base for drug firm

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Drug group AstraZeneca said plans for a new research base in Cambridge will boost the chances of Britain discovering the next generation of medicines.