CONSUMERS are splashing their cash again after several years of belt-tightening, new figures revealed yesterday.
RBS and Lloyds Banking Group were yesterday hit by a combined £90m worth of fines from regulators in the UK and US.
CANARY Wharf was shrouded in heavy fog yesterday morning causing disruption for thousands of air travellers.
THE PUBLIC Accounts Committee has warned that government deficit figures may be misleading, after the whole government accounts report put the deficit at £185bn, not £90bn.
IT is time for our political establishment to get its act together and take the tough decisions this country needs. The case in favour of airport expansion is overwhelming.
SOCIAL network Facebook will join the S&P 500 index at close of trading on 20 December. It will replace Teradyne, a technology company.
INTERNATIONAL equipment rental company Ashtead will join the FTSE 100 for the first time at close of trading on 20 December.
STANDARD Chartered, the emerging markets bank, is being urged to start taking costs out of the business as soon as possible in the hope of avoiding the need for a cash call in the New Year.
LLOYDS was fined £28m yesterday for encouraging staff to mis-sell insurance on investment products in the years leading up to 2012.
EUROPEAN taxpayers will no longer pay for banks’ mistakes, Michel Barnier said last night after the EU reached a deal to speed up the introduction of a landmark law aimed at stopping further state-sponsored bailouts.
LONDON mayor Boris Johnson has spoken out after leaked details of Sir Howard Davies’ report on airport capacity in the south east revealed he is concentrating solely on Heathrow expansion.
THE NUMBER of first time buyers has surged by three quarters over the past year, as a surge of activity in the housing market pushes prices even higher, especially in London.
LONDON has bounced back strongly from the economic downturn, while the rest of the south east is also faring well.
AROUND eight out of 10 business leaders in London believe the capital needs an expanded airport capacity, while seven out of 10 say that high living costs makes it difficult to attract the right workers.
THE UK economy will expand next year to beyond its pre-recession peak, a leading business group will predict today.
THE US hedge fund demanding radical change at FirstGroup, the transport company, pledged to keep up the pressure despite having its plans for change snubbed by the group’s board.
TRANSPORT operator Stagecoach said yesterday it saw opportunities to expand its rail and bus portfolio after posting a two per cent rise in first-half pretax profit, driven by growth in its US bus business.
US MARKETS are often seen as the place British businesses go to die, which makes Stagecoach’s transatlantic success something of a surprise.
THE Canadian Pension Plan Investment Board (CPPIB) yesterday bought a 15 per cent stake worth £269m in the French nursing-home group Orpea.
INVESTORS checked into Hilton Hotel last night after the private equity-backed chain priced its initial public offering (IPO) near the top end of the range.
LUXURY down jacket maker Moncler priced its stock market listing at the top of the range yesterday after strong demand from investors attracted by the brand's global growth prospects.
PRODUCTION outside the world’s traditional oil-rich nations has ballooned during the past year, rising to nearly half of the global output.
AN EX-GLENCORE trader has lost a wrongful dismissal court case against his former employer.
Andrew Kearns filed a complaint after he lost his job in October 2010 but lost his case and was made to pay costs to Glencore of £150,000.
BUSINESS investment around the world is set to fall in 2014, defying hopes of an economic recovery according to analysts at Standard and Poor’s.
STANLEY Fischer, who led the Bank of Israel for eight years until he stepped down in June, has been asked to be the Federal Reserve’s next vice chair once Janet Yellen takes over as chief of the US central bank, a source said.
THE EUROZONE economy will spend eight years below its pre-financial crisis peak, analysts at EY predicted today, warning the scars from the crash will continue to drag on the currency unions’ growth for years to come.
GREEK unemployment reached an historical high as the third quarter came to an end, climbing to an eye-watering 27.4 per cent.
FRENCH employment levels are still declining, as the country struggles for economic growth even as the Eurozone begins a feeble recovery.
GERMAN consumer price growth headed back upwards again during November, soothing deflation worries after inflation came in well below target in October.
EUROPEAN Central Bank vice president Vitor Constancio insisted yesterday there is no shortage of ECB-eligible collateral in any Eurozone country meaning that banks could easily increase their use of its funding if they so wished.
THOMAS COOK yesterday sold its travel add-ons website Essential Travel to rival firm the Holiday Extras Group for £2.1m.
THE BANK of England’s pledge to keep interest rates at rock bottom may be too complicated for families and businesses to understand, losing much of its impact, top policymaker Martin Weale warned yesterday.
AN INDIAN court has extended a hearing over local tax authorities’ seizure of a Nokia factory by seeking information on the plant value, adding to concerns whether the company can transfer the property to Microsoft as part of the sale of its mobil
MICROSOFT has sold more than 2m Xbox One video game consoles since its 22 November launch, catching up with rival Sony’s PlayStation 4 released a week earlier.
CAPITAL & Counties (Capco) was given the go-ahead by Westminster Council yesterday to build a leisure and residential scheme connecting two of Covent Garden’s busiest shopping areas.
ZARA owner Inditex, the world’s largest clothing retailer, showed signs of leaving behind months of tepid sales growth yesterday as a budding European recovery boosted pre-Christmas trading and it said global expansion plans remained on track.
A FUND established to offer investors exposure to Bitcoin is holding around $65m (£39.7m) in the digital currency after two months in operation, its creator, SecondMarket chief executive officer Barry Silbert, said yesterday.
BRITAIN’S high street suffered a fall in the number of shoppers in the week to 8 December despite the surge seen on the first Sunday of the month when retailers reported one of their busiest days.
YOUTUBE’S advertising revenues are set to surge by more than 50 per cent to $5.6bn in 2013, according to a report that underlines the growing shift from traditional TV adverts to the internet.
IMAGINATION Technologies said a slowdown at the top end of the smartphone market would hit the number of chips shipped with its graphics and video technology in the second half of the year, sending its shares down more than 20 per cent.
IS THE smartphone boom tailing off? Imagination Technologies’ acknowledgement of lower (but still strong) growth rates in the smartphone market might seem worrying. Mobiles and tablets have seen exponential growth since 2009.
Debenhams group trading director Suzanne Harlow was promoted to the board yesterday, becoming the department store group’s first female board-level executive director.
PZ Cussons said more customers had taken a shine to its St Tropez tanning products thanks to its advertisements featuring Kate Moss, boosting sales in the first half.
Spanish infrastructure group Ferrovial said yesterday that its British subsidiary had won extensions to two contracts to maintain sewer pipes and provide other water services, in deals worth £415m.
THE UK’S top share index ended slightly lower yesterday with a provisional budget deal in Washington raising concerns of a reduction in US stimulus as early as next week.
US stocks posted their largest drop in a month yesterday as traders locked in recent gains after a provisional budget deal out of Washington removed one of the near-term reasons for the Fed to keep up its current pace of economic stimulus.
GENERAL Motors named Mary Barra as its next chief executive yesterday, making her the first woman to hold the top job in the firm’s 105-year history and one of the most powerful female figures in global business.