Oil Find Near Gatwick May Be 'World Class'

The estimated size of an oil find near Gatwick Airport has been upgraded to 100 billion barrels by a company backing exploration of the area. UK Oil & Gas Investments (UKOG) said the Horse Hill-1 well in the Weald Basin was now thought to hold...

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Stallone Thanks UK Piracy Police After Arrest

Sylvester Stallone has thanked British police after a man was arrested on suspicion of leaking top films online, including Expendables 3. The 26-year-old from Halifax was arrested at his workplace in Leeds on Thursday and is being questioned by detectives...

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Gatwick Oil Find: Questions And Answers

An exploration firm has announced the discovery of billions of barrels of oil reserves at a site near Gatwick airport. The announcement by London-listed UK Oil & Gas Investments (UKOG) has raised a number of questions including: 1. How big is...

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Tories To Freeze Train Fares For Five Years

Rail fares will be frozen in real terms for five years if the Tories win the General Election, David Cameron has pledged. The Prime Minister said extending the Retail Price Index inflation cap on regulated ticket prices until 2020 would save the average...

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HSBC Tax Scandal: France Starts Criminal Probe

HSBC has expressed outrage at being placed on €1bn bail amid a criminal investigation in France into historical tax issues. The UK-listed bank said it was informed on Wednesday that French magistrates were examining the "conduct of its Swiss private...

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China Forms TPG Duet In Cirque Du Soleil Bid

By Mark Kleinman, City Editor One of China's biggest conglomerates is backing a bid by the American buyout giant TPG to win control of Cirque du Soleil, the live entertainment company which is one of Canada's most prominent global exports. Sky News...

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Canada Pension Fund Omers Eyes Equiniti Deal

By Mark Kleinman, City Editor One of Canada's biggest pension funds is plotting a takeover of Equiniti, the outsourcing group responsible for administering the pensions of millions of British civil servants. Sky News understands that Omers Private...

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Easyjet 'Rescue' Flights For Kids After Strike

Easyjet is laying on "rescue" flights to bring schoolchildren home after a French air traffic strike saw hundreds of flights axed. The budget carrier is running five special flights: Luton to Paris, Paris to Barcelona, Barcelona to Luton, Gatwick...

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M&S Sourcing Chiefs Set For Lavish Payday

By Mark Kleinman, City Editor Two brothers hired to boost the efficiency of Marks & Spencer's (M&S) clothing business are in line for multimillion pound paydays which could make them the company's best-paid employees over a three-year period....

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US Predator Eyes Bid For £6bn Smurfit Kappa

By Mark Kleinman, City Editor A US paper-manufacturing giant is weighing a £6bn-plus takeover bid for Ireland's Smurfit Kappa as a wave of global deals fuelled by cheap debt continues to gather pace. Sky News has learnt that International Paper Co...

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Kurt Geiger To Try On Another New Owner

By Mark Kleinman, City Editor The upmarket shoe retailer Kurt Geiger is preparing to try on another new owner less than a year after its last buyout. Sky News understands that the company's management and their backers at Sycamore Partners, an American...

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'Google Tax' In Force To Tackle Avoidance

Multinational companies that shift their profits offshore to avoid tax now face being slapped with a levy. The diverted profits tax (DPT), which has now come into force, aims to crack down on the controversial practice which has sparked criticism...

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Tories Woo New Backers As Boots Boss Says No

By Mark Kleinman, City Editor The Conservatives have embarked on a fresh attempt to court backing from the business community hours after the publication of a letter warning against "a change in (economic) course" pursued by a Labour administration....

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Miliband: Epidemic Of Zero-Hours Contracts

By Jason Farrell, Senior Political Correspondent Workers on zero-hours contracts will be able to demand a regular contract after 12 weeks under proposals announced by Ed Miliband. The Labour leader promised to outlaw the "exploitative" contracts...

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Insurer Hastings Motors Towards £1bn Listing

By Mark Kleinman, City Editor The owners of Hastings, one of the UK's fastest-growing insurers, have appointed investment bankers to steer the company towards a £1bn post-lection flotation. Sky News understands that Hastings has appointed Goldman...

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M&S Reveals Like-For-Like Sales Up 0.7%

Marks & Spencer has revealed like-for-like sales of food and clothing are up 0.7%, the first rise in sales for 14 quarters. The retailer issued a trading statement for the 13 weeks to 28 March, which also revealed that total like-for-like UK were...

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Energy Firm Pays Heavy Price For Overcharging

Energy firm E.ON is to hand £7.75m to Citizens Advice for customers who were overcharged after price rises. The sum is on top of the £400,000 E.ON has already paid back money to others who may have been affected. Regulator Ofgem said the penalty...

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Temasek Snaps Up Stake In UK's Funding Circle

By Mark Kleinman, City Editor A fast-growing peer-to-peer lending platform is to sell a stake in itself to Temasek, the Singaporean sovereign wealth fund, as part of a fundraising that will catapult it into the ranks of Britain's most valuable technology...

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Pru Boss 'Irritated' By Labour Letter Row

By Mark Kleinman, City Editor A row over company bosses' political affiliations ahead of the General Election deepened on Thursday amid allegations that Labour was trying to undermine the leaders of some of the UK's biggest businesses. Friends of...

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Sluggish US Economy Adds Only 126,000 Jobs

By Sky News US Team A slow US economy added a lower-than-expected 126,000 jobs in March, though the unemployment rate held steady, as predicted, at 5.5%. Friday's jobs reports broke a run of 12 consecutive months in which the economy added more than...

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Woman Loses Silicon Valley Gender Bias Claim

By Sky News US Team A technology chief executive has lost her claim of sex discrimination in a $16m lawsuit against a Silicon Valley venture capital firm. Gender was not a substantial reason that Ellen Pao lost her job at Kleiner Perkins Caufield...

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Google Can Be Sued In The UK Over Web Tracking

Google has lost a Court of Appeal battle to stop British consumers from suing it in the UK. A group called Safari Users Against Google's Secret Tracking accuse Google of bypassing security settings on Apple's browser to track their online browsing...

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One Quarter Of Students Consider Sex Work

By Becky Johnson, North Of England Correspondent Nearly a quarter of students in the UK have considered sex work as a way to fund their time at University. A study carried out by academics at Swansea University has found that 5% of students have...

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Premier League May Dump Sponsorship

By Mark Kleinman, City Editor The Premier League is considering abandoning its long-running title sponsorship‎ arrangements when Barclays' 15-year association with English football's top flight ends next year. Sky News has learnt that the Premier...

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Co-op Bank Trims Annual Losses To £264.2m

The troubled Co-operative Bank says it has "stabilised", with losses cut to £264.2m in 2014 though its turnaround plan will result in more branch closures. It also confirmed, alongside its results, a Sky News story of Thursday evening that chief executive...

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Swiss Bank Nets Coutts International From RBS

A Swiss bank is to buy Royal Bank of Scotland's (RBS) international private banking and wealth management arm, though it is unlikely to raise a significant sum for the part-nationalised lender. The amount to be paid by Union Bancaire Privee (UBP)...

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Alliance Trust Defends Chair's Share Purchase

By Mark Kleinman, City Editor The chairman of Alliance Trust acquired thousands of shares in the company weeks after an activist shareholder had privately indicated that it was preparing to call for a boardroom shake-up. Sky News can reveal that...

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UK Airlines Bring In New Cockpit Safety Rules

By Charlotte Lomas-Farley, Sky News Correspondent New safety rules have been introduced in the UK after 150 people on board the Germanwings Airbus A320 were killed when it crashed in the French Alps. The UK's aviation regulator, the UK Civil Aviation...

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Major Power Outage Suffered Across Amsterdam

Hospitals, trains, trams and the metro were all hit by a major power cut in the Dutch capital Amsterdam and the surrounding area. The electricity network operator, Tennet, said the regional outage was caused by a grid "overload" at a high-voltage...

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Miliband's NHS Pledge At Campaign Launch

Labour leader Ed Miliband has launched his party's General Election campaign with a promise to safeguard the future of the NHS. The event in east London came after Mr Miliband and Prime Minister David Cameron answered questions in the Battle For Number...

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Amazon Wins Approval To Test Delivery Drones

By Sky News US Team Amazon has won approval from US federal regulators to test a delivery drone outdoors. The Federal Aviation Administration has issued an experimental airworthiness certificate allowing test flights over private, rural land in Washington...

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Tesco Shops For Store Ownership In £733m Deal

Tesco and British Land have completed a property exchange deal worth a combined £733m as both companies look to strengthen their core businesses. Britain's biggest retailer, which remains the subject of probes over its £263m profits overstatement scandal...

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Osborne Rejects Public Service Cuts Fears

George Osborne dismissed fears over spending cuts to public services raised by the Office for Budget Responsibility. Speaking on Sky News, Mr Osborne said the cuts were necessary but did not pinpoint exactly where the axe would fall. He said: "People...

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FCA Bosses Face MPs' Ire Over Insurance Probe

By Mark Kleinman, City Editor The heads of the City watchdog will be severely criticised next week by a panel of MPs over its handling of a briefing which wiped billions of pounds from the value of British insurance companies. Sky News has learnt...

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