THE UK government has backed oil giant BP in its dispute over the US government’s decision to suspend all of the oil major’s federal contracts after the Deepwater Horizon disaster.
LEADING MPs yesterday called on RBS to explain why its payment systems broke down on Monday evening, calling for top bosses to answer questions.
DAVID Cameron wants the UK to be at the “front of the queue” when it comes to Chinese trade deals.
BRITISH builders are recovering rapidly as the economy begins to turnaround, recording the fastest expansion in business for over six years in November.
AS CHANCELLOR George Osborne’s Autumn Statement draws nearer, a new report today lays out what is expected from the Treasury.
HIGH house prices are pushing up families’ debts and mean they could be in danger when interest rates rise, the Bank of England said yesterday.
CLOUDS over the City of London are finally lifting, with firms growing confident that 2014 will mark the end of the difficult five years following the financial crisis.
THE COST of public transport in London will rise by an average of 3.1 per cent in January, the Mayor of London announced yesterday along with a claim that the change represents a real-term price freeze.
RWE NPOWER’S chief executive Paul Massara will have the size of his bonus slashed after research showed the energy supplier’s customer complaint levels had spiked in the last year.
SHOP prices fell again in November, industry figures showed yesterday, recording the seventh consecutive month of deflation on the high street.
BRITAIN’S pensioners plan to leave more to their children than any others in the western world, an HSBC study showed yesterday.
THE ECONOMIC recovery is making the UK an increasingly attractive investment destination for overseas firms, analysts said yesterday, as official data showed a sharp rise in foreign firms buying UK businesses.
RETAIL and construction employment are benefiting particularly from the boost to economic growth in recent quarters, with shops ramping up their hiring ahead of Christmas.
PRICES at factory gates in the 17 countries using the euro declined 0.5 per cent in October against September, the EU’s statistics office said yesterday, the first monthly decline in five months.
The Dubai-based property group became the first major company from the region to float in London since 2007, yesterday. David Hellier went to meet its founder.
PEOPLE have short memories. Except, that is, about situations where they’ve lost a lot of money.
THE PARENT company of west London shopping centre Westfields yesterday said it would carve out its international operations into a standalone business.
AGGREKO has signed a deal to supply power and temperature control systems to the world famous Cirque du Soleil for the next four years.
GERMAN prosecutors searched Commerzbank offices yesterday, looking for evidence that a foreign life insurance company may have helped German investors evade taxes.
PEARSON added to its education arm yesterday by unveiling plans to spend £440m on an English language training company in Brazil.
THE NUMBER of large business and government clients that have installed or are testing BlackBerry’s mobile device management service has risen roughly 20 per cent over the past six months, the embattled smartphone maker said yesterday.
BARCLAYS is considering creating a new index for contingent convertible (coco) bonds in a push to attract more investors into the new asset class and ensure demand for the securities becomes well established.
ONE OF Man Group’s top strategists has left the company to form his own Mayfair-based fund management company.
CITY broker Numis put the financial downturn behind it yesterday after posting a thumping increase in full year revenues and profits.
CULTURE Secretary Maria Miller plans to cap bills on mobile phones that are lost or stolen at £50 and work with mobile operators to eliminate roaming charges across Europe by 2016.
QUARTERLY earnings at Bank of Montreal rose one per cent due to stronger wealth management profit, Canada’s No 4 bank said yesterday, but its shares fell on the back of a sluggish performance at its US Harris Bank unit.
THE BOSSES of major listed companies should meet investors for an annual strategy meeting as well as the standard AGM, the Collective Engagement Working Group of institutional investors said yesterday.
Residential lettings agency Martin & Co yesterday confirmed its intention to join London’s junior stock market, becoming the latest real estate firm to float.
Retirement home builder McCarthy & Stone yesterday appointed two new non-executive directors to its board.
Micro Focus yesterday posted a slide in half year pre tax profits down seven per cent to $75.8m (£46.3m) from a year earlier. Revenue was up 2.4 per cent to $207.5m on constant currency basis.
ONLINE gaming company Betfair is looking to grow its business in the US state of New Jersey as well as in Italy.
The company reported a six per cent drop in revenues yesterday to £188m during the six months to
VODAFONE has hired Val Gooding to sit on its board as a non-exec.
Gooding, who is the chairman of tech parts specialist Premier Farnell, will join Vodafone on
1 February, the FTSE 100-listed telecoms giant said yesterday.
GREENE King reported revenue growth of more than five per cent yesterday on the back of strong retail pub sales during the first half of the year.
FTSE 250-listed oil explorer Exillon Energy’s second largest shareholder yesterday said it had approached the board to make a possible offer for the rest of the company.
DAISY Group, the business communications service provider, saw a 2.5 per cent drop in its share price yesterday after its losses widened from £3.59m to £3.9m during the six months to 30 September.
VAN HIRE firm Northgate is looking to open more branches in Britain next year after splashing out on new vehicles.
EXHIBITIONS organiser ITE Group yesterday reported that its full-year profit beat expectations, helped by contributions from acquisitions and a jump in third-quarter revenue.
FTSE 100-listed oil and gas services provider Petrofac yesterday said that, along with African oil and gas explorer Taleveras Energy Resources, it has signed a five-year memorandum of understanding with the Nigerian Petroleum Development Company (
Aim-listed construction and property consultancy Sweett Group yesterday posted a 75 per cent rise in pre-tax profits to £2.8m for the six months to 30 September.
Stratex International, the Aim-listed gold and base metals explorer, yesterday said it has completed its private placement in Canada-headquartered gold explorer Tembo Gold Corporation.
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MINERS and oil companies led Britain’s FTSE 100 lower yesterday as strong economic data prompted investors to bet that equity-friendly monetary stimulus would soon be reduced.
THE DOW and the S&P 500 fell for a third straight day yesterday, dropping from record levels in a broad decline as investors took profits amid signs of a weak holiday shopping season.
THE FRENCH economy is becoming a major drag on the Eurozone, with yesterday’s abysmal figures from its factory sector throwing fresh light on the country’s bleak political and business climate.
AMAZON is preparing to make next-day delivery obsolete by using unmanned aerial vehicles, or drones, in an audacious plan to introduce 30-minute home delivery.
CUSTOMERS at RBS and NatWest were frozen out for at least four hours last night as the giant bank’s payment system crashed for the third time in 18 months, and on the busiest shopping day of the year so far.
IT WAS meant to be one of the most basic rules of economics: the more people produce, the more they get paid. It is a long-standing, near-universal relationship that helps to explain why some jobs are so much more lucrative than others.
THE TREASURY insisted yesterday that compensation for workers in the UK is still closely linked to output, adding to debate over the cost of living in the lead up to the Autumn Statement.