China Solar Panel Firm 'In Bond Default'

China has suffered what has been called its first corporate bond default, as the government tries to make its financial system more market-orientated. A Shanghai-based manufacturer of solar panels paid only part of the 90 million yuan (£9m) in interest...

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US Jobs Up As Part-Time Work Hits New Record

The number of new jobs in the United States accelerated in February, as the number of part-time workers in the month reached an all-time high. The rise of 175,000 jobs helped ease fears of an economic slowdown. The dollar rose sharply on the news and...

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John Lewis Cuts Staff Bonus As Profits Rise

The John Lewis Partnership has confirmed a reduced bonus for its workforce despite annual profits rising almost 10%. It means all 91,000 John Lewis department store and Waitrose staff - known as partners at the employee-owned company - will receive...

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Curtain To Fall On Barclays' 120-Year Audit

By Mark Kleinman, City Editor Barclays is to end its 120-year audit relationship with PricewaterhouseCoopers (PwC) and appoint one of its main rivals in the latest shake-up at the embattled bank. Sky News can reveal that Barclays, which faces a...

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Rich Are Richer Since Crash, Says Top Boss

The boss of Britain's biggest pension and insurance provider has told Sky News that the Bank of England's quantitative easing programme has helped the rich at the expense of the less well off. Legal & General chief executive Nigel Wilson said:...

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RBS: 80-Plus Millionaires Despite £8.2bn Loss

By Mark Kleinman, City Editor More than 80 employees of the state-backed Royal Bank of Scotland (RBS) received pay deals worth more than £1m last year despite its £8.2bn loss, Sky News has learnt. The figure, which is expected to be confirmed later...

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Standard Chartered To Slash Chief's Bonus

By Mark Kleinman, City Editor Standard Chartered, the emerging markets bank, will reveal on Wednesday that it is slashing its bonus pool and its boss's payout as it bids to stave off the kind of row with investors that has hit rivals such as Barclays....

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Lloyds Commits To Credit Unions Amid Pay Row

By Mark Kleinman, City Editor The taxpayer-backed Lloyds Banking Group will make a series of pledges on Wednesday aimed at combating financial exclusion, even as the industry runs headlong into another pay row. Sky News understands that Lloyds...

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Holidaymakers Warned Over Online Scams

By Tadhg Enright, Sky News Correspondent Police have warned holidaymakers to be wary of online booking scams after £7m was stolen by fraudsters last year. A total of 4,500 cases of booking fraud were reported to police in 2013, with almost a third...

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Markets Tumble As Ukraine Tensions Escalate

Putin Is Cracking The Whip On The West Updated: 10:29am UK, Monday 03 March 2014 By Sam Kiley, Foreign Affairs Editor He's done it again. With the swashbuckling approach to international affairs that fits his popular bare-chested public persona,...

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Debt Collection Giant Slashes Borrowing Costs

By Mark Kleinman, City Editor The buoyant state of the City's financing markets will be underlined this week by a transaction involving one of Britain's leading debt collection agencies. Sky News understands that Lowell Group, which is owned by...

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Virgin Money Backs Doubling Of Bank Bonuses

By Mark Kleinman, City Editor Sir Richard Branson's banking arm will this week become the latest of Britain's high street lenders to say that it is supporting the payment of higher bonuses under new European rules. Sky News has learnt that Virgin...

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Floods Fund: £2m To Support Tourism Firms

Tourism businesses affected by the recent flooding are to get a £2m boost from the Government. Culture Secretary Maria Miller says the money will fund experts who will visit affected areas and offer practical advice to tourism firms such as how to access...

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EU Pay Cap Triggers Pay Rise For Lloyds Boss

By Mark Kleinman, City Editor The chief executive of Lloyds Banking Group is being lined up for a salary increase that could see his fixed pay almost double as it tackles new remuneration rules imposed by Brussels. Sky News has learnt that Lloyds,...

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