City Investors Bank On £55m RBS Branch Payout

By Mark Kleinman, City Editor A consortium of City investors vying to buy 315 branches from Royal Bank of Scotland is in line to receive £55m in annual interest payments from the state-backed lender - even before they complete a deal. Under the...

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Mortgages 'Most Affordable For 14 Years'

By Nick Martin, News Correspondent Mortgages are more affordable now than at any time in the past 14 years, according to the latest figures. Monthly payments now account for 27% of a new borrower's income in the second quarter of 2013, well below...

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Summer Sun Fuels UK Spending Spree

Retail sales rose at their fastest annual pace for over two years in July as the UK basked in summer sunshine. The Office for National Statistics (ONS) said the heatwave boosted sales of barbeque food and outdoor items in particular as people enjoyed...

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Facebook Tests Tool To Make Mobile Payments

Facebook plans to test a new service aimed at making it easier for users to make purchases on their mobile devices. The social networking site is exploring ways to allow people to make purchases with just their Facebook login on partnering e-commerce...

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Eurozone Out Of Recession As Economy Grows

The eurozone has moved out of recession as its economy grew by 0.3% in the second quarter. It means the struggling area has finally emerged from its longest recession to date. The eurozone saw slightly faster then expected growth, with its two largest...

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JP Morgan: Charges Over $6bn 'London Whale'

Officials in the United States have charged two ex-JP Morgan traders over the so-called 'London Whale' scandal that resulted in losses of $6.2bn (£4bn). Prosecutors in Manhattan accused former London-based traders Julien Grout, 35, and Javier Martin-Artajo,...

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Cold Winter Boosts E.On Profits By 15%

Profits at energy firm E.on surged by almost 15% in the first half of the year, boosted by the cold start to 2013. The company, one of the so-called "big six" UK energy suppliers, said it made £273m in the first six months of 2013. This is an increase...

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US Airways-American Airlines Merger Challenged

The US Justice Department and a number of state attorneys general have challenged the proposed $11bn (£7bn) merger between US Airways and American Airlines. The Justice Department says the merger would result in the creation of the world's largest airline...

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Rail Fare Protests As Charges Set To Increase

Thousands of people are set to protest at 50 stations across the UK against the rapid rise of rail fares compared to the average earnings. Passengers will learn how much more they will be paying from next January when inflation figures are released...

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Housing Market Recovery 'Round The Corner'

House prices have risen at their fastest pace since 2006 sparked by a rising demand for property across the country. According to the latest housing market report by the Royal Institution of Chartered Surveyors (Rics) there are signs a recovery is "round...

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RBS Sell-Off Unlikely Until 2018 - Cable

Business Secretary Vince Cable has signalled that the Government is unlikely to sell its stake in Royal Bank of Scotland for another five years. Mr Cable claimed it was "pretty unrealistic" to expect the bailed-out bank to be back in private ownership...

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Fracking Must Be Accepted By Britain, Says PM

David Cameron says the country should accept fracking, claiming the controversial method of extracting gas will attract "real public support" when the benefits are explained. The Prime Minister said the process would not damage the countryside and cause...

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Apple Wins Samsung Patent Case In US

Apple has won the latest victory in a long and bitter global battle with Samsung over alleged patent infringement. The US International Trade Commission (ITC) found Samsung was in violation of two patents and banned American imports of some of its devices....

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High Street Housing Plans Come Under Fire

Store Vacancies Hit New High Level Updated: 11:50am UK, Monday 20 May 2013 A surge in shopping centre vacancies means almost one in every eight British stores is now empty, according to a new survey. Empty shops now account for 11.9% of retail space,...

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