Bank: UK Recovery Has Finally Taken Hold

The Bank of England has upgraded its growth forecasts for the UK economy with its governor Mark Carney declaring: "The recovery has finally taken hold." The bank's quarterly Inflation Report showed it had raised its GDP expectations for 2013 from...

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Sants Quits Barclays As Stress Takes Its Toll

Sir Hector Sants has resigned from Barclays a month after it emerged he had been placed on sick leave for stress and exhaustion. The former chief executive of the now-defunct Financial Services Authority joined the bank as its head of compliance a year...

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'Pink Star' Diamond Set To Sparkle At Auction

A plum-sized diamond known as the "Pink Star" is expected to fetch a record $60m (£37.6m) at auction on Wednesday. The gem goes under the hammer at Sotheby's in Geneva a day after rival Christie's sold an almond-shaped diamond dubbed "The Orange" for...

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Energy Bills: Households Face 17 Years Of Hikes

Households are facing another 17 years of inflation-busting increases in energy and water bills, a spending watchdog has warned. The National Audit Office (NAO) said consumers are being forced to pay more to stump up the cost of renewing Britain's ageing...

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Sainsbury's First Half Profits Hit £433m

Sainsbury's has announced a 9.1% increase in first half pre-tax profit to £433m as it battles Asda to be Britain's second-biggest supermarket chain behind Tesco. Total sales including VAT and fuel rose 4.4% over the 28 weeks to September 28 - by 4%...

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Jobless Rate At Three-Year Low Of 7.6%

The unemployment rate fell to 7.6% in the three months to September - its lowest level for more than three years - but pay rises are matching record lows. The Office for National Statistics (ONS) measured a 0.1% drop in the unemployment rate over the...

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Japanese Bankers Grilled Over Loans To Mobs

Japanese MPs have been questioning the head of one of the country's biggest banks over loans to mobs. The inquiry comes as another major lender in the banking world admitted it may have been involved in dealings with gangsters. Mizuho Financial Group...

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Bidders Eye Smaller Heathrow-Owned Airports

By Mark Kleinman, City Editor A flock of infrastructure investors is circling some of Britain's biggest regional airports amid expectations that their owner will opt to sell them in order to focus on its ownership of Heathrow. Heathrow Airport...

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Energy Firms SSE And E.ON Confirm Profits

Energy firm SSE has confirmed a return to half year profits and a bigger payout to shareholders, just two days before its household bills are due to rise by an average 8.2%. The company announced its figures as rival E.ON updated the market on its progress...

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Royal London To Sell Offshore Wealth Unit 360

By Mark Kleinman, City Editor One of Britain's biggest mutuals is selling its offshore wealth unit to a private equity group amid greater public and political scrutiny of tax-planning activities. Sky News has learnt that Royal London, the UK's...

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