Pound Falls As Triple Dip Fears Fuelled

Sterling has fallen to a two-and-a-half-year low against the dollar after manufacturing figures for February revealed a fall in output. The closely watched Markit/CIPS purchasing managers' index showed a slump in activity to 47.9 - well below the 50...

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Pressure On First Buyers As House Prices Rise

By Nick Martin, Sky Correspondent House prices edged up month-on-month in both January and February this year, bringing good news for homeowners but adding pressure on first-time buyers. Building society Nationwide said it was cautiously optimistic...

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RBS Boss: Spring Cleaning Drives £5.16bn Loss

The Royal Bank of Scotland boss has said "spring-cleaning" continues after his firm reported a pre-tax loss in 2012 of £5.16bn. RBS chief executive Stephen Hester said: "This company is going through a pretty thorough spring-cleaning. It is a pretty...

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Exclusive: Treasury 'Panic' Over EU Bonus Cap

By Mark Kleinman, City Editor The Government has embarked on a desperate damage limitation effort to persuade major City employers that they still have a future in London despite proposals from Brussels that will hamper their ability to pay bumper...

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Apple 'To Pay £66m' Over Kids' App Downloads

Apple is set to pay out around £66m ($100m) to settle a US lawsuit which claims children were improperly charged while playing iPad and iPhone games. It is alleged that poor safeguards meant kids were easily able to buy extra features for the free games...

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Barclays Imposes £450m Libor Bonus Hit

By Mark Kleinman, City Editor Barclays is imposing more than £450m of financial penalties on its employees in relation to the Libor-rigging scandal which last year triggered the departure of its chief executive. I understand that the bank will...

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Burger Sales Plunge 43% Amid Horsemeat Scare

Frozen beef burger and ready meal sales have plunged dramatically, according to the first retail sales data since the horsemeat scandal erupted. Kantar Worldpanel said that in the four weeks ending February 17, frozen burger sales plunged by 43% while...

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Bank Of England Mulls Negative Interest Rate

By Ed Conway, Economics Editor The Bank of England has raised the prospect of introducing negative interest rates to get borrowing going in Britain again. Paul Tucker, the BoE's deputy governor for financial stability, said it was one of the ideas...

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Govt Addresses MPs Over Credit Rating Slide

George Osborne has attacked Labour for creating an "economic mess" as he addressed MPs over the loss of the UK's prized AAA credit rating. The Chancellor told the Commons last week's credit rating downgrade had not led to "excessive market volatility"...

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Italy Election: Split Vote Leads To Stalemate

Results in crucial elections in Italy show no clear winner and raise the possibility of a hung parliament. The uncertainty does not help the nation's efforts to pass the tough reforms it needs to heal its economic woes and prevent a new round of global...

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Doughty Cable Float Sparks Listings Market

By Mark Kleinman, City Editor One of Britain's biggest privately-owned manufacturing groups is being groomed for a stock market listing, in a move that reflects brightening sentiment about the global economy. I have learnt that the owner of HellermannTyton,...

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Pound 'At Risk' After AAA Credit Rating Blow

Global financial markets are to deliver their first response to the decision of a major credit agency to strip the UK of its prized AAA credit rating today. Senior Conservatives have rallied round Chancellor George Osborne in the wake of the decision...

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AAA Credit Rating Lost: Osborne Defiant

George Osborne has come under attack over what Labour calls his "catastrophic economic policy failure" after the UK lost its top-grade AAA credit rating. International agency Moody's downgraded it by one notch to AA1, citing slow growth and a rising...

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Exclusive: RBS Mis-Selling Bill To Add £1.1bn

By Mark Kleinman, City Editor The state-backed Royal Bank of Scotland (RBS) will next week set aside another £1.1bn to compensate customers for mis-selling products to consumers and small businesses. I can reveal that the bank is preparing to say...

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