Fiscal Cliff: Obama 'Optimistic' After Talks

Barack Obama has called for "immediate action" to avoid the so-called fiscal cliff after urgent talks with Congressional leaders. He urged politicians to agree a deal, saying: "The hour for immediate action is here. It is now." He said he remained...

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JD Wetherspoon To Create 1,200 Jobs

The pub chain JD Wetherspoon has announced plans to create 1,200 jobs during 2013 and said the number would have been greater but for the tax regime facing the industry. The expansion plans will see 30 pubs open in cities across the UK, adding to the...

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Online Shopping Surges Over Xmas

Internet retail sales are on course to have risen 30% over the Christmas period as shoppers moved to bag a bargain from home and beat sale queues. Figures from market data firm Experian suggest Boxing Day set a new British record for online shopping....

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Autonomy Founder Rounds On HP Accusers

Mike Lynch Statement In Full Updated: 10:42am UK, Friday 28 December 2012 Here is the full statement released by Mike Lynch, Autonomy's founder, in response to HP's regulatory filing in the US on Thursday: ""It is extremely disappointing that HP has...

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Tata Group Says 'Ta Ta' To Boss

The brains behind one of the world's most successful companies has handed over the reins of his vast business empire. The head of India's Tata Group, Ratan Tata, used his 75th birthday to fulfil his retirement as chairman after steering the group for...

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UK Economy: Workers Face A 'Hard Year Of Slog'

A number of reports are warning of a tough 2013 in the jobs market, with one study predicting it will be a "hard year of slog" for even those in work. Dr John Philpott, director of The Jobs Economist, believes workers can expect longer hours, a continued...

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Hector Sants: Ex-FSA Chief Awarded Knighthood

The man tasked with regulating the City in the run-up to the near-collapse of the UK banking system has been knighted in the Queen's New Year Honours. Former Financial Services Authority (FSA) chief executive Hector Sants has been recognised for services...

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Can China's Baijiu Take On Sake And Tequila?

By Mark Stone, China Correspondent A British drinks company is taking a gamble by attempting to export baijiu, China's national drink, to the world. Diageo recently bought Shui Jing Fang, a high-end brand of baijiu based in the Chinese city of...

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Pig Farming Crisis To Push Up Pork Prices

By Emma Birchley, Sky News Correspondent Supplies of British pork on shop shelves are under threat as pig farmers struggle to stay in business. Cripplingly high feed costs caused by global wheat and soya shortages have forced many farms to close...

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First-Time Home Buyers 'Up 12% In Past Year'

The past 12 months saw 12% more first-time buyers take the plunge into the property market than in 2011, according to a report by the Halifax. About 216,000 people got their feet onto the property ladder in 2012, the highest number since the credit...

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CRB Check Rules To Be Relaxed By Home Office

Millions of employees and volunteers will no longer have to apply for a new criminal records check every time they apply for a job, the Home Office announced today. Individuals will only need to apply once to the Disclosure and Barring Service (DBS)...

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Nokia And Blackberry-Maker Agree Patent Truce

Nokia has settled all its patent disputes with Blackberry-maker Research In Motion (RIM) amid the costly legal rows still gripping the fiercely competitive smartphone industry. While terms of the agreement were confidential, Nokia said, the deal on...

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Banks Face Break-Up Over Risky Trading

By Poppy Trowbridge, Business and Economics Correspondent British banks face break-up if they fail to follow new rules protecting high street operations from riskier trading. The Parliamentary Commission on Banking Standards has published a report...

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UK Economic Growth Less Than Expected

Britain's growth figure for the third quarter has been revised to 0.9% by the Office for National Statistics. That is down from their previous estimate of 1%. Britain's dominant services sector posted meagre growth in October, adding to the challenge...

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BT Slapped With £95m Refund Bill

BT has been told it must repay almost £95m to corporate customers following a row over high speed data provision. The regulator Ofcom ruled the company had overcharged for Ethernet services and must hand back £94.8m to communication providers BSkyB...

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Steve Jobs' £80m Super Yacht Impounded

A super yacht built for Apple's late co-founder Steve Jobs has been impounded in Amsterdam because of a dispute over an unpaid bill to designer Philippe Starck, a lawyer has said. Mr Jobs, who died last year, never got to use the vessel, called Venus....

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Fiscal Cliff: Republican Plan Ends In Failure

House Speaker John Boehner said on Friday that he was still open to talks with President Obama - a day after being forced to scrap a vote on his back-up plan to avoid the fiscal cliff crisis. Mr Boehner had confidently predicted on Thursday that he...

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Women Drivers Face Insurance Premium Rise

By Darren McCaffrey, Sky News Reporter Women drivers could see their insurance premiums increase by around 25% as new laws come into force that ban setting prices according to gender. The European Court of Justice ruling follows a 10-year legal...

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BAE Systems Strikes £2.5bn Deal With Oman

By Alistair Bunkall, Defence Correspondent A deal worth £2.5bn has been completed between British defence manufacturer BAE Systems and Oman. It will see BAE provide the Gulf state with 12 Eurofighter Typhoon aircraft and eight Hawk training jets....

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Shoppers Queue For Start Of Christmas Rush

By Tadhg Enright, Business Correspondent Shoppers queued outside stores and car parks were full to capacity at malls across the country on the last full shopping day before Christmas eve. Today is forecast to be the busiest day of the year in shopping...

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Open University To Go Global With Online Courses

The Open University (OU) has launched a campaign to take distance learning global - as it attempts to catch up with online course offered by US colleges. The OU has teamed up with 10 British universities in a venture called FutureLearn. The plan is...

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UBS Faces $1bn Fine Over Libor Manipulation

UBS is expected to be hit with a fine of around $1bn to settle Libor manipulation charges. The total amount - worth around £620m - will be a combined penalty from US and UK regulators, and is expected to be confirmed early next week. UBS declined to...

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S&P Puts AAA Rating On Negative Outlook

Britain's gold-plated triple AAA status came under pressure today after an influential credit ratings agency put it on negative watch. Standard & Poor's (S&P) said there was a one in three chance it could lower Britain's rating within the next...

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Queen Asks Bank Bosses About Financial Crisis

The Queen has finally had her question answered on why nobody saw the financial crisis coming during a visit to the Bank of England. Four years ago, during the height of the global crisis, the Queen famously asked: "Why did nobody notice it?" While...

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Exclusive: Cameron Advisers Furious Over Axe

By Mark Kleinman, City Editor Some of Britain's most senior executives have reacted furiously to David Cameron's shake-up of his coterie of business advisers, warning the "shabby" handling of the move risked deterring them from accepting future...

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Immigration: Labour Calls For Better Integration

Labour Leader Ed Miliband has set out his party's strategy for integration in Britain in a speech outlining his ambitions for dealing with the pressures of a multi-ethnic society. Calling for a "comprehensive strategy for integration", the opposition...

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Broker Widens Probe Into Suspicious Trades

By Mark Kleinman, City Editor The City stockbroker WH Ireland has suspended one of its most senior executives as part of a broader inquiry that led to the departure on Thursday of its chief executive. WH Ireland is understood to have placed Barrie...

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UK Car Sales Defy Crash In European Demand

Demand for cars in Britain shot up by over 11% in November compared with the year before - in contrast with a 10% fall across the European Union. The European Automobile Manufacturers' Association said that last month just 926,486 new cars were registered...

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EU Summit: Cameron 'Committed To Saving Euro'

The Prime Minister has made it clear he wants favours in return for signing a deal aimed at increasing economic and monetary union in the European Union. At the seventh and final EU summit of the year, David Cameron insisted the UK was not in an uncomfortable...

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Bayer Seeks Approval For Prostate Cancer Drug

Drug company Bayer has requested approval from US regulators for a new drug to treat prostate cancer. The German pharmaceutical maker said the product could potentially reap annual sales of over 1bn euros (£810m). Bayer applied for EU approval...

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Osborne Denies 'Fiddling' Mini-Budget Figures

Autumn Statement's Important Bits Updated: 3:48pm UK, Wednesday 05 December 2012 By Ed Conway, Economics Editor The Autumn Statement is what the Treasury likes to call a "fiscal event", the rough translation of which is that although this isn't...

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Apple To Peel Mac Production Away From China

One of Apple's existing Mac lines will be built exclusively in the US next year, CEO Tim Cook has announced. He made the revelation in an interview with Rock Center's Brian Williams, who asked him: "Why can't you be a made in America company?"...

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IFS: Spending Cuts Warning After Mini-Budget

By Ed Conway, Economics Editor The Government's austerity plans involve slashing the majority of Government department budgets by a third, a leading think tank has warned. The Institute for Fiscal Studies said that in order to fulfil the plans...

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West Coast Rail Debacle 'Cost Taxpayers £50m'

Taxpayers face a "significant" bill over the botched West Coast rail franchise process, a report from a government spending watchdog has said. The Department for Transport's running of the West Coast bidding process lacked management oversight, with...

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Samsung And Apple Urged To Settle Disputes

Apple and Samsung have returned to court, as the iPhone maker defended the $1.05bn (£654m) awarded to it after Samsung was found to have infringed its patents. US district judge Lucy Koh said it was time for the rivals to settle their numerous disputes,...

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FSA Warns Banks On Bonus Culture

The City regulator has warned Britain's biggest banks that they need to demonstrate "a change in culture" when they unveil their bonus pots for 2012 in the new year, paving the way for one of the steepest reductions in payouts on record. I have learnt...

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