Penguin Reaches Ebook Price-Fixing Settlement

Penguin has reached a settlement with the US Justice Department after it accused America's largest book publishers of colluding with Apple to raise the price of ebooks. The US government claims Apple conspired with several publishers in the autumn of...

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Instagram Denies Plans To Sell Users' Pics

Instagram has said it will revise a planned update to its service agreement after a global backlash over rumours the company would sell users' photos. There were thousands of complaints after claims the photo-sharing company, which is owned by Facebook,...

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Superstorm Sandy To Cost Lloyd's Insurance £1.5bn

The Lloyd's of London insurance market has estimated claims totalling £1.55bn ($2.5bn) arising from Superstorm Sandy in the US but says the figure could rise. Its preliminary estimate was released after the deadly weather system caused an estimated...

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British American Tobacco In E-Cigarettes Deal

By Mark Kleinman, City Editor Britain's biggest tobacco company is poised to swoop on a pioneer of some of the world's biggest-selling electric cigarette brands, a vital new frontier in an industry buffeted by growing restrictions on its sales and...

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OFT 'Powerless' To Protect Consumers

The Office of Fair Trading (OFT) does not have the resources to protect consumers from companies' unscrupulous practices, a report has found. The National Audit Office (NAO) said at least £450m of financial harm is being caused by the trading watchdog's...

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Rangers Shares Begin Trading As Club Floats

Rangers Football Club say they raised more than £20m from their listing on the stock exchange, as shares begin trading. Fans of the Glasgow club - who were Scottish champions a record 54 times - contributed £5m, while £17m was raised from large institutional...

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New Bank Governor To Get £874,000 Annually

By Ed Conway, Economics Editor Mark Carney, the incoming Bank of England Governor, will receive an annual pay package equivalent to £874,000, the Bank confirmed today. Among his benefits will be a £250,000 annual accommodation payment the Canadian...

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Nissan To Build Luxury Car Model At UK Plant

Car giant Nissan is to build a new luxury model in the UK, creating 1,000 jobs with a £250m investment. The new global model will be manufactured at the Japanese firm's plant in Sunderland, which employs 6,000 workers. The car, built under Nissan's...

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G4S Close To Olympics Security Settlement

By Mark Kleinman, City Editor The company at the centre of the summer's Olympics security fiasco is close to a deal with the Games organisers that would involve it incurring a smaller loss than the City had feared. I have learned that G4S, which...

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Libor Rate-Rigging: UBS Pays £940m Penalty

The Swiss bank UBS is to pay £940m, including £160m to regulators in Britain, to settle Libor rate-rigging investigations. The fines, which amount to the second biggest penalty paid by a bank in the wake of the £1.2bn money laundering settlement announced...

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