HBOS: Bosses Get Bonuses 'For Going Bust'

Pressure is mounting on disgraced former HBOS bosses amid anger over mammoth pension pots and nearly £1m of "bonuses for going bust". Seven directors of HBOS landed £914,000 in "change of control" payments triggered by the bank's rescue takeover by...

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Floods: UK Insurers Avoid Covering Risky Homes

By Becky Johnson, North of England Correspondent People whose homes have been devasted by flooding fear they will be unable to get insurance in future as talks between the Government and insurers have so far failed to reach an agreement. At present...

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Cyprus Crash Fear As Bailout Cost Jumps 31%

The Cypriot government has confirmed that the cost of its EU-IMF bailout has jumped by 31%, putting the already teetering economy in danger of collapse. Government spokesman Christos Stylianides said: "It's a fact the memorandum of November talked about...

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Young App Creators Earning Thousands A Day

By Gemma Morris, Presenter A university student has told Sky News he can make up to £2,000 per day developing apps in his spare time. Josh Gare is just one of a growing number of young app entrepreneurs making a splash in a field sparked by the...

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KPMG 'May Be Investigated' Over HBOS Role

The independent audit regulator has announced it might launch an investigation of KPMG over its accounting role at HBOS in the run-up to the bank's failure. The Financial Reporting Council (FRC) said it will consider the probe in the wake of a damning...

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Homeless Fears For Millions Without Savings

One-in-three people would struggle to pay their rent or mortgage within a month of losing their job, a charity has warned. Some 35% of workers - around 8.6 million people - do not have enough money put aside to meet their housing needs beyond four weeks,...

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RBS Investigated By New Watchdog Over IT Woes

The newly-formed Financial Conduct Authority has started an investigation into the Royal Bank of Scotland group's computer failure last year. The FCA, which has recently replaced the Financial Services Authority as the City watchdog, launched the "enforcement"...

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Sir James Crosby: Ex-HBOS Chief Forgoes Title

Former HBOS chief executive Sir James Crosby will ask for his knighthood to be removed and give up 30% of his pension after last week's damning report into the bank's collapse. The 57-year-old said he was "deeply sorry" for what happened at HBOS and...

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Hedge Funds In Talks Over RBS Branches Bid

By Mark Kleinman, City Editor Two hedge funds which made millions of pounds shorting UK bank shares during the 2008 financial crisis are in talks to back a £1bn bid for more than 300 Royal Bank of Scotland (RBS) branches. I have learnt that Lansdowne...

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Energy Debts: Amount Families Owe Mounts

The number of families in debt to their energy supplier is rising, with around one in five households owing money, a study suggested. Collectively, Britons are estimated to owe £637m to energy firms, which is £159m more than last year's projections,...

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Cable 'Wants Investigation Into HBOS Life Bans'

An investigation is to be launched into whether the three former HBOS directors blamed for the banking group's collapse can be banned as company directors for life, it has been reported. The Business Secretary has asked his officials to see if there...

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State Assets Body Names Russell As New Boss

The body which manages tens of billions of pounds worth of state-owned assets will on Monday name a new boss as it steps up plans for a £4bn privatisation of the Royal Mail. I have learnt that Mark Russell is to be handed the role of running the Shareholder...

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Axminster Rescue To Save 100 Devon Jobs

By Mark Kleinman, City Editor One of Britain's oldest carpet-makers is to be rescued in a deal that will preserve about 100 jobs in the south-west of England. I understand that Axminster Carpets, which traces its roots back to 1755, will be bought...

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Cable 'Wants Investigation Into HBOS Life Bans'

An investigation is to be launched into whether the three former HBOS directors blamed for the banking group's collapse can be banned as company directors for life, it has been reported. The Business Secretary has asked his officials to see if there...

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