New Rules Proposed For Fracking Access In UK

New rules intended to make it easier for companies to get access for fracking on land have been proposed by the Government. The plan is to allow underground access beneath 300m (985ft), with people living above receiving a voluntary payment of £20,000...

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InterContinental Rebuffs Secret £6bn US Bid

By Mark Kleinman, City Editor The FTSE-100 hospitality provider InterContinental Hotels Group (IHG) has rejected a secret takeover bid from the US which valued the company at about £6bn. Sky News has learnt that IHG's board met a few weeks ago...

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Hewlett-Packard To Cut Up To 16,000 More Jobs

Hewlett-Packard (HP) is to cut up to 16,000 jobs worldwide, after 11 quarters in a row of declining revenues. The announcement was made after the IT giant's latest results were released unexpectedly before markets closed in the United States on Thursday....

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Hacked eBay Faces Multiple Investigations

Web retailer eBay is facing transatlantic scrutiny from the authorities over a massive cyber attack that compromised the personal data of its 145 million users. Connecticut, Florida and Illinois have launched a joint inquiry over the hack, which came...

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Barclays Fined £26m Over Trader's Gold Fixing

Barclays Bank has been fined more than £26m by the City watchdog over failings related to gold price manipulation by one of its former traders. The Financial Conduct Authority (FCA) said the bank failed to adequately manage conflicts of interest between...

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City Watchdog Faces Backlash Over Inquiry PR

By Mark Kleinman, City Editor The City watchdog is facing a backlash for spending thousands of pounds of fees paid by the financial industry on public relations advice amid an inquiry into its conduct. Sky News understands that the board of Financial...

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RBS And NatWest Hit By Mobile Banking Glitch

Mobile banking services for RBS and NatWest have been hit by an IT glitch, along with an unconnected problem that affected some Lloyds, Halifax and Bank of Scotland online users. In a statement given to Sky News, a spokesperson for RBS Group said: "Some...

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New Trains In Seven-Year Rail Franchise Win

Three new state-of-the-art electric train fleets are to be rolled out on the busiest rail routes in London and the South East. The new Thameslink, Southern and Great Northern (TSGN) franchise will be run by Govia, with rival FirstGroup missing out....

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The Week's Big Business Stories

Train Order Derailed Over 'Too-Wide Carriages' Updated: 4:52pm UK, Wednesday 21 May 2014 New trains ordered in a £2.43bn deal to expand the network in regional France have been found to be too wide for many of the platforms. A total of 1,300 platforms...

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Blackstone In Joint Bid For Friends' Tax Arm

By Mark Kleinman, City Editor The private equity giant Blackstone has joined forces with a US-based specialist insurer to table a bid for the tax planning arm of Friends Life, the FTSE-100 financial services group. Sky News understands that Blackstone...

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