RBS Lures Mastercard Boss For Payments Role

By Mark Kleinman, City Editor The taxpayer-backed Royal Bank of Scotland (RBS) has lured the boss of Mastercard's British operation to overhaul its payments strategy following a series of failures which have left it exposed to potentially heavy financial...

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Ex-RSA Executive Miles To Join Troubled Wonga

By Mark Kleinman, City Editor The chairman of troubled payday lender Wonga is recruiting another former colleague from the insurer RSA as he accelerates the company's attempt to repair its battered reputation. Sky News has learnt that Paul Miles,...

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Shire Shares Slump 27% As AbbVie Hesitates

Shares in FTSE 100 pharmaceutical firm Shire have fallen 27% on opening amid renewed doubts that AbbVie's proposed takeover will go ahead because of new US tax rules. Investors took flight - wiping £8.5bn from Shire's value in a matter of minutes...

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PM: Only 'Mega-Rich' Should Pay Inheritance Tax

Only the "mega-rich" will pay inheritance tax under proposals announced by David Cameron, in a move which will appeal to middle class voters. The Prime Minister gave his clearest indication yet that only those with more than £1m to leave will have...

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Jobless Total Back Below Two-Million Mark

The latest unemployment figures show the jobless total below the two-million mark for the first time since 2008. The Office for National Statistics (ONS) said unemployment fell by 154,000 in the three months to August to 1.97 million, with the jobless...

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Time Out Owner Oakley Eyes Lastminute Swoop

By Mark Kleinman, City Editor The entrepreneur who owns London's Time Out magazine is courting one of the darlings of the original internet boom with a takeover bid for Lastminute.com. Sky News has learnt that Oakley Capital, which is run by Peter...

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Sainsbury's Endures Backlash On Nectar Cuts

Sainsbury's customers have threatened to shop elsewhere after the supermarket chain confirmed it was planning cuts to its Nectar reward points. The company, which announced the changes in an email, said it was halving points to one per pound...

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Thousands Of UK Jobs At Risk At Tata Steel

Unions have accused Tata Steel of failing to consult them on the company's plans to sell its Long Products Division, placing up to 6,500 jobs under threat. The company said it had signed a Memorandum of Understanding with the Klesch Group, an...

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Apple And Facebook Pay To Freeze Staff Eggs

Facebook and Apple are giving female staff the opportunity to delay plans to start a family by paying for them to freeze their eggs. The firms are covering up to $20,000 (£12,600) for the procedure and annual storage costs, according to reports. ...

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FTSE Loses £46bn To Plunge To 15-Month Low

The FTSE 100 has suffered its biggest one-day fall this year, losing around £46bn in value to close down 2.8% (181 points). While Britain's unemployment rate sank to 6% - its lowest since 2008 - the share index hit its 15-month low as stocks such...

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