Samsung Sets Record For Smartphone Sales

Samsung has cemented its place as the world's leading smartphone seller after setting a record for the most units shipped in the third quarter. The company sold 56.3 million smartphones, including its flagship Galaxy S III, in July-September, representing...

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Admiralty Arch To Become Luxury Hotel

Admiralty Arch has been sold on a 99-year lease for £60m and is to be turned into a luxury hotel, it has been confirmed. The ceremonial gateway between The Mall and Trafalgar Square has been leased to Prime Investors Capital, the company behind the...

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Boost For Obama As US Economy Grows By 2%

The US economy grew at an annualised rate of 2% in the third quarter, higher than analysts had expected. The rebound was fuelled by higher consumer and government spending and more home building, according to US Commerce Department figures showed released...

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Nine More Banks Under Libor Rate-Fix Scrutiny

Nine additional banks have been drawn into accusations of Libor rate-fixing, according to news reports. It was reported that some of the world's biggest banks, including Britain's Lloyds Banking Group, had been sent subpoenas by two US state attorney...

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EDF To Raise Gas And Electricity Prices

Energy giant EDF is to increase prices for householders by an average of 10.8%. The rise, gas and electricity, around four times the rate of inflation, is set to be implemented on December 7. EDF, which has 3.1 million customers and 5.5 million accounts...

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Canadian Pensioners In £600m Motorsport Deals

By Mark Kleinman, City Editor Canada's biggest pension fund is plotting a double-swoop on the world's most prestigious motorsport series through investments worth about £600m, I have learned. The Canada Pension Plan (CPP) is expected to announce...

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Anglo American Boss Cynthia Carroll Quits

Anglo American's chief executive Cynthia Carroll has stepped down after increased pressure from investors over the mining firm's lagging share price. Ms Carroll quit after more than five years in the job amid concerns about the company's continued dependence...

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Tearful 'Rogue Trader' Tells Of UBS Losses

A trader accused of Britain's biggest fraud was allegedly trying to cover millions of pounds worth of losses incurred during the financial crisis for the bank he called his "family", a court has heard. Kweku Adoboli, 32, is accused of gambling away...

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Exclusive: RBS Eyes Worldpay Payout

By Mark Kleinman, City Editor The taxpayer-controlled Royal Bank of Scotland is in line for a substantial windfall from the sale of part of the payments processing business it was forced to offload as punishment for its £45bn bail-out four years...

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Victory For Man Who Took Cold Caller To Court

A businessman plagued by nuisance phone calls offering compensation for Payment Protection Insurance has secured £220 in an out-of-court settlement. Richard Herman, 53, was so fed up with the unwanted calls arriving from India, he decided to take matters...

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