West Ham Among First To Net .London Domain

Premier League football club West Ham has become one of the first businesses to sign up for a .london domain name.

Department store Selfridges, the London Eye, the Meantime brewery and the London School of Economics have also signed up for the localised extension.

From April 29, companies in the capital are able to apply for the domain as an alternative to the .co.uk or .com addresses.

Global internet body Icann is in the process of introducing more than 1,000 new web addresses - a move seen as one of the biggest changes online since the invention of the World Wide Web.

Selfridges is among the businesses to have bought a .london address

While several major cities will have their own domain names, London is the first to announce its initial users.

The first sites go live on April 29, and London-based firms have a three-month preference window in which to purchase a .london domain.

Mayor Boris Johnson said: "There is enormous interest in .london from businesses right across the capital, not just from high street brands but from the small businesses that are the lifeblood of London's economy.

"London leads the world in technology and our businesses are among the most dynamic and innovative anywhere, so it is no surprise so many see .london for the great opportunity it presents them."

Boris Johnson says there is enormous interest in the new domain

Karren Brady, vice-chairman of West Ham, said: "As the traditional London club, with roots formed at the heart of the East End in 1895, a move to become the first football club to use the .london domain is a natural fit for West Ham United."

The new domain was officially launched at Covent Garden Market, with businesswoman and Dragons' Den star Deborah Meaden offering her support for the scheme.

As part of the launch, the 40 businesses leading the scheme have written an open letter calling on more companies to follow suit and support the new domain name as a way of boosting the economy in London.

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Starbucks Moves EU HQ To London After Tax Row

Starbucks is to base its European headquarters in Britain, amid the ongoing row over multinationals' corporate tax structures.

The coffee company is to shift its base from Amsterdam to London before the end of 2014.

The UK is its largest European market, accounting for more than half its stores and employing around 7,500 staff.

Kris Engskov, the company's president for Europe, the Middle East and Africa (EMEA), announced the move on Wednesday and said "London is the perfect place to grow our European business".

Starbucks wants to move towards greater franchise participation, however at the moment it is not recruiting new UK franchisees.

A spokesman told Sky News: "As part of our drive to improve profitability in the UK, we are shifting our business model from an equity-focus towards more franchised and licenced stores.

"By bringing onboard local expertise, we are driving business success and it is a model we are now planning to pursue in other parts of Europe."

Mr Engskov was grilled by MPs in 2012, as the UK boss, as they investigated the rates of tax paid by global giants including Starbucks, Google and Amazon.

Starbucks has operated in Britain for more than 15 years but only made a small profit in one year, 2006.

In the four years to the end of its 2012 reporting period, the company said it lost more than £150m in Britain, despite having a turnover approaching £2bn.

Multinational corporations have come under fire for complex intra-company tax structures whereby the firm in one country pays itself in another for goods and services.

Starbucks' transfer pricing includes costs for licensing and royalties.

It also buys its coffee from a sub-division in Switzerland and then pays another to roast the beans in Amsterdam.

IT firms such as Apple, Twitter and Candy Crush owner King Digital use Dublin-based structures for European operations, while eBay bases itself in Luxembourg.

Amid the public furore stirred by the tax revelations, Starbucks said it would pay 'voluntary' UK corporation tax of £10m for two years.

However, critics slammed the payments as a gift and not a legal requirement.

Starbucks is due to file its latest UK accounts, for the 2012-13 fiscal year, with regulators before the end of June.

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Pensioners To Get Government Death Estimates

By Anushka Asthana, Political Correspondent

People approaching retirement will be given an estimate of when they might die, ministers have revealed.

A measure of life expectancy, linked to factors such as smoking, eating habits or socioeconomic background, will be part of Government backed "guidance" to help pensioners plan how much to spend and save.

Steve Webb, the pensions minister, told Sky News people needed to have a sense of how long they might live to help make such financial decisions.

Many people underestimated the figure, he added, expecting to die earlier than was likely.

"If you are thinking about this, what do you do? For best guidance you probably think about how long your grandparents lived. But that is two generations out of date," he said.

So he is asking pension providers to give people an estimate as part of guidance that will be rolled out next April.

The advice is linked to major pension reforms, announced in the Budget, which will allow people to draw down their money at any time, instead of seeing it tied up in annuities.

That led to warnings that people might be reckless, blowing their pension pots on expensive items instead of saving sensibly to last them throughout retirement.

Mr Webb hit back at the time, saying he was "relaxed" if people wanted to buy Italian Lamborghini sports cars because that was their "choice".

But the Government also admitted in the policy consultation paper that "consumers need to be able to make informed decisions".

It is therefore guaranteeing "free, impartial face-to-face guidance" for individuals reaching retirement through a new "duty" on pension providers to deliver the advice.

Mr Webb said the type of questions that would be covered included asking people about their household - whether they have a spouse, what might happen if they died, if they had thought about residential care and also considering debts and possible income generation.

But life expectancy also had to be part of that consultation.

Mr Webb said insurance companies already had some of the mechanisms to calculate that using information such as people's postcodes, lifestyle choices like smoking and hereditary factors.

"It is an average," added Mr Webb. "But for most people it will probably be longer than they think."

The hope is that a figure might then help them to consider saving a little extra.

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Imperial Tobacco To Close Nottingham Factory

Up to 900 jobs are to be lost under plans by Imperial Tobacco to close factories in Nottingham and Nantes in France.

The company said it wanted to shut both its production plant and distribution centre in Nottingham, which together employ around 540 people - almost a third of its UK workforce.

The move would represent an end to cigarette production in the UK.

Its statement blamed "declining industry volumes in Europe, impacted by tough economic conditions, increasing regulation and excise and growth in illicit trade".

Imperial, whose brands include Golden Virginia and Lambert & Butler, said the Nottingham factory has capacity to make 36 billion cigarettes a year but will only produce 17 billion in 2014.

It said production would be moved to other European factories and distribution outsourced.

The Nantes plant, which employs 320 staff, would suffer the same fate while its research facility at Bergerac was also under threat.

The company said it was working on the proposals with unions.

Chief executive Alison Cooper said: "These projects are an essential part of securing the sustainable future of the business.

"The prospect of job losses is always regrettable and we will be doing all we can to support employees and ensure that they are treated in a fair and responsible manner."

The company, which has 46 manufacturing sites worldwide, closed a cigar factory in Bristol in 2010.

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Google Buys Drone Maker Titan Aerospace

By Joe Tidy, Sky News Reporter

Google has purchased high-altitude solar-powered drone builder Titan Aerospace as part of the search engine giant's efforts to bring internet access to remote areas of the world.

Google snapped up the New Mexico company for an undisclosed fee, reportedly fending off rival Facebook which was also said to be interested in the company.

Titan Aerospace's website was blocked overnight and now carries a holding page with the Google logo and a short message.

"We're thrilled to announce that Titan Aerospace is joining Google. At Titan Aerospace, we're passionate believers in the potential for technology (and in particular, atmospheric satellites) to improve people's lives," it said.

Google hopes to expand online access (pic: promo video, Titan Aerospace)

"It's still early days for the technology we're developing, and there are a lot of ways that we think we could help people, whether it's providing internet connections in remote areas or helping monitor environmental damage like oil spills and deforestation.

"That's why we couldn't be more excited to learn from and work with our new colleagues as we continue our research, testing and design work as part of the Google family."

Google is yet to comment on the acquisition but it feeds in well with Project Loon - the technology giant's plan to spread the internet around the world using balloons some 12 miles (20km) in the stratosphere above Earth.

Facebook had been eyeing the firm (pic: promo video, Titan Aerospace)

Both Facebook and Google have plans to expand the reach of the internet with high-tech web systems.

In February, Facebook founder Mark Zuckerberg launched an ambitious plan to bring internet infrastructure to five billion people.

It is the second big buy-out in months by Google who purchased military robot-maker Boston Dynamics in December.

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Scotland Split Would Risk Jobs, Warns Hammond

Defence Secretary Philip Hammond has warned thousands of jobs will be threatened if Scotland decides to break away from the UK.

He told staff at a Glasgow-based defence firm the future of the business and their livelihoods would be put at risk by a 'yes' vote in this September's referendum on independence.

Mr Hammond said the defence industry in Scotland employs around 12,600 people and generates sales of more than £1.8bn.

He told workers at Thales, a firm which has supplied every periscope used by the Royal Navy: "The creation of a border between this facility and its largest customer will put at jeopardy the future prosperity of this business, the people who work in it and their families and dependents.

Philip Hammond was challenged by a worker over his 'threat' on jobs

"Clearly the Ministry of Defence in the UK buys much of its capability from its indigenous industrial base.

"That's not for reasons of sentimentality, that's for reasons of strategic control, for reasons of being able to manage the security of facilities and for reasons of resilience in times of conflict.

"If we were to separate, then the future of the defence industry in Scotland that depends on MoD orders will be put at risk."

But one staff member, Daniel McGee, took the Defence Secretary to task over his argument.

He said: "I feel aggrieved that you've come up here and seem to be quite threatening, that our jobs will go."

Mr Hammond said he was positive about the "huge achievements of union" over more than 300 years, but added: "The Scottish people are entitled to honest answers to questions."

Alex Salmond claims the Royal Navy would still buy ships from the Clyde

He accused Scotland's First Minister, Alex Salmond, of wanting to keep voters in the dark until after the referendum.

But in a speech to trade unionists in Dundee, Mr Salmond issued a guarantee that shipbuilding would continue long-term in Scotland.

He insisted the Royal Navy would continue to buy ships from the Clyde, and further jobs would be secured through diversification.

He also received a round of applause when he repeated his commitment to remove nuclear weapons from Scotland.

The debate over the implications for the defence industry of independence came as millitary commanders also raised their own concerns about the prospect of Scotland going it alone.

Admiral Sir George Zambellas has raised concerns over independence

The head of the Navy, First Sea Lord Admiral Sir George Zambellas, said the "very heart" of Britain's maritime defence forces would be damaged.

Sir George insisted the nations that remained in the UK would adapt and cope eventually but he said Scotland would feel a "deeper impact" if it broke away.

Similar concerns were highlighted by a dozen high-ranking military officers in a letter to Mr Salmond this week.

Admiral Sir Mark Stanhope, former First Sea Lord and Chief of Naval Staff, argued the SNP's proposed ban on nuclear weapons "would be unacceptable for Nato".

An SNP-led government would want to continue membership of the military alliance, which critics say is at odds with its anti-nuclear stance.

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Official: Average Earnings Outpace Inflation

Average UK earnings increased by 1.7% in the year to February, above the inflation rate of 1.6%, according to official figures.

The Office for National Statistics (ONS) said it was the first time since spring 2010 that the consumer price index for inflation had not exceeded pay increases.

It said pay increases averaged 2% in the private sector and 0.9% in the public sector.

It added the number of people out of work in the UK fell by 77,000 between December and February.

The unemployment rate of 6.9% is the lowest for five years.

Business Secretary Vince Cable said: "Throughout the economic crisis, and now in the recovery, our labour market has shown itself to be resilient and flexible.

"These latest employment figures show that conditions are continuing to improve rapidly."

The improving statistics have eroded Labour's stance on the economic policies at the heart of the coalition Government.

Sky News Economics Editor Ed Conway said: "There are likely to be quibbles with the data and the timing, and many of them are perfectly legitimate.

"What's less in doubt is that wages and inflation are converging meaningfully for the first time since 2010.

"That implies the squeeze on incomes is in the process of coming to an end."

He added: "By the same token, families have had to withstand a whole five-year period of falling real wages, so in real terms they remain significantly less well-off than they were before the crisis.

"That damage will take some years to mend."

The ONS said the total jobless in the period stood at 2.24 million, with a record 30.3 million people in work.

A total of 691,000 people have gained employment in the last year, taking the rate to 72.6%.

It added the number of people claiming Jobseeker's Allowance last month fell by 30,400 to 1.14 million.

Meanwhile, the number of people in Britain defined as economically inactive, including those caring for relatives or withdrawn from the job market, fell by 86,000 in the latest quarter to 8.8 million.

Those out of work for more than 12 months was also cut by 32,000, down to 807,000.

The jobless figure for 16 to 24-year-olds has also continued to fall, down by 38,000 to 881,000 - the lowest for five years.

The ONS said 1.42 million people are working part-time on the basis of not being able to find full-time employment.

It was a drop of 17,000 over the three months, although still 10,000 higher than the same time last year.

Esther McVey, the minister for employment, told Sky News: "More young people are in work, more women are in work, wages are going up and more and more businesses are hiring.

"It's a credit to them that Britain is working again."

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Mt Gox Bitcoin Exchange Heads For Liquidation

Troubled bitcoin exchange Mt Gox is due to be liquidated after a Japanese court rejected a bailout plan.

The company was once the world's biggest exchange for the cyber currency.

A court-appointed administrator confirmed the rejection and said CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm.

In a letter posted on the company's website, the administrator said: "The Tokyo District Court recognised it would be difficult for the company to carry out the civil rehabilitation proceedings and dismissed the application for the commencement of the civil rehabilitation proceedings.

"The dismissal of the application for commencement of a civil rehabilitation procedure will create great inconvenience and concerns to our creditors for which we apologise."

Mt Gox filed for bankruptcy protection from creditors in late February, amid fears it might have lost around 850,000 bitcoins - worth about $454m (£270m) - after it was hacked.

The company later said it had found around a quarter of the missing bitcoins.

The provisional administration puts the company's assets under regulator control until bankruptcy proceedings officially commence and a trustee is named.

The court's decision comes after Mr Karpeles' lawyers told a United States federal judge this week he is not willing to travel to the US to answer questions about the bitcoin exchange's American bankruptcy case.

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Drug Charges For Former Co-op Boss Flowers

Former Co-op Bank boss Paul Flowers has been charged with two counts of possession of a class A drug and one of a class C drug.

The former Methodist minister was arrested in Liverpool by West Yorkshire Police officers last year.

A police spokesman said: "Paul Flowers, 63, of Hollingwood Drive, Bradford, has been charged with two offences of possession of a class A drug and one offence of possession of a class C drug.

"He has been bailed to appear before Leeds magistrates on May 7."

Mr Flowers stepped down as chairman of the Co-op bank in June last year.

Clare Stevens, from the CPS' Yorkshire and Humberside Complex Casework Unit, said: "We have carefully considered a file of evidence gathered by West Yorkshire Police in relation to alleged criminal offences committed by Paul Flowers in Bradford in November 2013.

"Following a review of the evidence, I have concluded that there is sufficient evidence and it is in the public interest to charge Paul Flowers with possession of class A and class C drugs relating to an incident on November 9 2013."

Paul Flowers will appear at Leeds Magistrates' Court on May 7.

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Tesco Full-Year Profit Slumps 6% To £3.3bn

Tesco has reported a 6% fall in full-year group trading profit of £3.3bn.

Stripping out exceptional items incurred in the last year, pre-tax profit was down 6.9% to £3.1bn.

The UK's biggest supermarket chain also announced like-for-like sales, excluding fuel and VAT, fell 3% in the three months to the end of February 2014.

The results do not include figures for Tesco Bank, which reports separately.

Shares in the company were up more than 3% in early trades on Wednesday.

Tesco's market share hit a 10-year low of 28.6% - its lowest since 2004 - in the 12 weeks to March 30 compared with the same period the year before, according to the latest data from market researcher Kantar Worldpanel.

It remains the third biggest retailer in the world.

The company, led by chief executive Philip Clarke, is 24 months into a turnaround plan for its main UK business that has seen over £1bn invested in store revamps, more staff, new product ranges and pricing initiatives.

Mr Clarke said: "We are transforming Tesco through a relentless focus on providing the most compelling offer for our customers.

"Our results today reflect the challenges we face in a trading environment which is changing more rapidly than ever before."

He added: "We are determined to lead the industry in this period of change."

The sales drop in the last three months was the biggest quarterly drop recorded during Mr Clarke's three-year tenure.

The company said it would put customers "at the heart" of what it does in this "new era of retail".

It added the second-half of the year was particularly competitive in the UK sector.

A spokesman for Tesco said: "Our performance in the year was not where we had planned it to be."

Although it cited problems in countries such as South Korea and Thailand, the company is also looking further afield.

It recently announced it would return to the United States with its F&F clothing business.

In November, Tesco completed the sale of its loss-making US supermarkets operation Fresh & Easy to investment firm Yucaipa.

Earlier in the month the supermarket's finance director, Laurie McIlwee, resigned.

Sky News also understands Mr Clarke has decided to appoint a new chief marketing officer in place of Matt Atkinson, who has been in the role for just over a year.

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