M&S Extends Clothing Sale Amid Poor Trading

By Mark Kleinman, City Editor Marks & Spencer (M&S) is to extend heavy discounting on clothing into a second day on Sunday as it attempts to drive sales during the most crucial period of its trading year. Sky News has learnt that the high...

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Christmas Debts 'Won't Be Cleared Until June'

The average family is going to take on debts this Christmas that will take until June to pay off, it has been claimed. The Trades Union Congress has carried out research that shows that the typical family will add £685 to its borrowing by the time the...

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Christmas Shoppers To Spend £12bn In Four Days

By Emma Birchley, Sky News Reporter Shoppers are expected to spend £12bn in just four days as they make the most of slashed prices and promotions, according to retail forecasters. The deals are being offered as a fierce battle for sales rages both...

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Tobacco Boss Quits Helm Of Silk Cut-Maker

By Mark Kleinman, City Editor The executive who orchestrated Japan's biggest-ever takeover of a British company has quit his role at the helm of the manufacturer of Benson & Hedges and Silk Cut. Sky News has learnt that Pierre de Labouchere,...

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Cable Attacks PM Over 'Immigration Panic'

By Darren McCaffrey, Political Reporter Business Secretary Vince Cable has accused the Prime Minister of panicking on the issue of immigration and comparing that panic to the notorious 'Rivers of Blood' speech made by Enoch Powell. Referring to...

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Apple Strikes iPhone Deal With China Mobile

Apple has finally secured a deal to bring the iPhone to China Mobile, the world's biggest network, opening the door to a massive sales boost. The state-owned network has more than 750 million subscribers. The latest iPhone 5S and 5C will go on sale...

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British Airways Plane 'Crash' In Johannesburg

A British Airways plane has crashed into a building at Johannesburg Airport in South Africa. The aircraft, carrying 182 passengers, sliced its wing through the building while taxiing on the runway, BA confirmed. Posting on Twitter, the airline said:...

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SFO Investigates Rolls-Royce Bribery Claims

The Serious Fraud Office (SFO) has started a formal investigation into bribery and corruption allegations at Rolls-Royce. The claims first came to light a year ago when the SFO ordered the world's second-largest maker of aircraft engines to conduct...

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Weather Damages 'Biggest Xmas Shopping Day'

A predicted high street spending spree dubbed 'Manic Monday' has largely failed to materialise, with strong winds and heavy rain combining to force late-Christmas shoppers indoors. Analysts had expected 15 million people to take to stores, spending...

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M&S Says Sorry Over Alcohol Refusal

Marks & Spencer has apologised after a Muslim member of staff refused to sell a customer alcohol. The retailer said that where employees have religious beliefs that restrict what foods or drinks they can handle, it tries to place them in a "suitable...

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Lloyds Shares Sale: Taxpayers 'Lost £230m'

Taxpayers took a £230m hit from the sale of a 6% chunk of Lloyds Banking Group shares to the private sector, says a National Audit Office (NAO) report. The figure appears to undermine a claim at the time by Chancellor George Osborne that the share...

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Plastic Notes Issued In UK From 2016

Plastic banknotes are to be issued for the first time when the new £5 featuring Sir Winston Churchill appears in 2016. A £10 note featuring Jane Austen to follow around a year later will also be made from polymer rather than the cotton paper currently...

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Debenhams Hits Suppliers With 'Santa Tax'

Debenhams has told suppliers they will be paid 2.5% less for their goods to fund expansion plans - just eight days before Christmas. The department store wrote to key suppliers of its own-brand wares explaining they would take the money from their accounts,...

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Bitcoin Value Slumps Amid China Restrictions

The virtual currency Bitcoin has dramatically fallen in value after China's biggest trading platform banned deposits in yuan. BTC China said the action follows new regulations from Beijing, which keeps a tight grip on the yuan and enforces capital controls,...

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New Runways For Gatwick And Heathrow Airports

Building a controversial third runway at Heathrow airport has been shortlisted as one of the options for expansion by the Airports Commission in its first report. The interim findings of an independent inquiry led by the former head of the Financial...

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Fracking Plans For Two-Thirds Of England

Two-thirds of England could be opened up to the highly controversial process of fracking under a Government-backed drive for shale gas. Energy firms will be given the chance to bid for licences to drill across every county, apart from Cornwall, including...

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Metro Bank Chairman Hill Cuts Stake In Lender

By Mark Kleinman, City Editor The founder and chairman of Metro Bank has reduced his stake in Britain's first new high street lender for more than a century as part of a £385m fundraising. Sky News has obtained documents circulated among Metro...

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Jobless Fall Raises Chance Of Interest Rate Rise

A big fall in the number of unemployed has raised the prospect of interest rates rising much earlier than expected. The latest official figures showed 99,000 fewer people were jobless in the three months to October while the number in work topped 30...

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Hinkley Point Nuclear Deal With EDF Faces Probe

An inquiry has been launched into whether a £16bn government deal with French energy giant EDF to build a nuclear plant in the UK meets EU rules. Britain has agreed to subsidise the project to build two reactors at Hinkley Point C in Somerset,...

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Facebook And Banks To Face IPO Lawsuit

Facebook, its CEO and several banks must face a lawsuit over alleged misleading of investors ahead of the company's initial public offering, a judge has ruled. Mark Zuckerberg and dozens of banks are accused of misleading investors about the social...

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Lloyds Fined £28m For Sales Incentive Scheme

Lloyds Banking Group has been fined £28m for "serious failings" which rewarded sales staff with 'grand in your hand' bonuses, even when products they sold consumers were deemed unsuitable. The Financial Conduct Authority (FCA) said the penalty was the...

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RBS Finance Chief Bostock Quits After Ten Weeks

By Mark Kleinman, City Editor The new chief executive of Royal Bank of Scotland (RBS) suffered a huge blow on Tuesday when his finance chief quit less than 10 weeks after he joined its board. Sky News can exclusively reveal that Nathan Bostock,...

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GM Puts Brakes On Australia Car Production

Australia's auto industry has taken another step towards extinction following confirmation General Motors (GM) is to shut its Holden manufacturing plants by 2017 with the loss of 2,900 jobs. The Holden brand - which is GM's Australian equivalent of...

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US Budget Deal Should Avoid New Shutdown

Congressional negotiators have staged a rare show of bipartisanship to reach a modest US budget agreement, which should eliminate the threat of another partial government shutdown early next year. The plan - expected to be approved by both houses of...

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Tesco Blames Customers For Fruit And Veg Waste

By Anushka Asthana, Political Correspondent Tesco has accused its customers of contributing to food waste by shunning perfectly edible fruit and vegetables because they are "ugly or misshapen". A director at the supermarket said it wanted to "educate"...

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Tesco Bank To Offer Current Accounts

Tesco Bank is to start offering current accounts in 2014 as it moves to profit from the misfortunes of its biggest rivals. The bank, which was founded in 1997, is to create 600 new jobs in Glasgow and Edinburgh over the next few years as it expands...

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Twitter: Photos Now In Direct Messages

Twitter users can now send pictures privately to their followers using the direct message (DM) function. Images previously sent by DM had to be viewed via the external twitpic site, but now users can see them from within the message. The move is seen...

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Spending Squeeze: Household Priorities Shift

By Poppy Trowbridge, Consumer Affairs Correspondent Household spending on housing (excluding mortgages), fuel and power has surpassed transport for the first time in recent years, figures from the Office for National Statistics (ONS) show. We are...

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M&S Chairman To Aid Ministers' £20bn Sell-Off

By Mark Kleinman, City Editor The chairman of Marks & Spencer (M&S) is being tapped up by ministers to assist with plans to raise £20bn from state-owned asset sales by the end of the decade. Sky News has learnt that Robert Swannell, a City...

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Heathrow Investor Lines Up UK Airports Deal

By Mark Kleinman, City Editor The Spanish infrastructure giant which bought Heathrow Airport in a debt-fuelled deal seven years ago has lodged its interest in acquiring the company's remaining regional UK assets. Sky News has learnt that Ferrovial...

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Conway's Console: The Recovery Where You Live

The recession is over and the recovery is under way. Of course, that's welcome news - not just for the Chancellor but for the country as a whole. But one of the most striking features of this recovery is that, all too often, the national story is quite,...

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Downing St: US Contract Ban On BP 'Excessive'

The Government has shown its support for BP in a legal dispute over a ban on the oil giant winning federal contracts in the US following the Gulf of Mexico disaster. In a filing to a court considering BP's attempt to lift the ban, the UK Government...

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Royal Mail And Union Reach Deal On Pay

A proposed deal has been agreed between the Royal Mail and union leaders on pay, pensions and other issues linked to the privatisation of the postal group. The Communication Workers Union (CWU) had been threatening industrial action in the run up to...

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RBS And Natwest Glitch: Branches Open Early

More than one thousand Natwest and RBS branches opened early on Wednesday to help customers resolve outstanding issues with their accounts after Monday's technical glitch. All of the high street banks' systems went down for three hours on one of the...

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Moulton Sizes Up Bid For Ailing Pawnbroker

By Mark Kleinman, City Editor The veteran investor Jon Moulton is sizing up a takeover bid for the embattled pawnbroking chain Albemarle & Bond (A&B). Sky News has learnt that Better Capital, Mr Moulton's investment firm, is among a pack...

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Eurostar: Government's 40% Stake Up For Sale

The Government is to sell its 40% stake in Eurostar in a move that could raise up to £10bn as part of a new privatisation project. The sale is part of a plan to privatise £20bn of financial and corporate assets by 2020, but is likely to spark accusations...

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