Malaysia Airlines Offers Passenger Refunds

Malaysia Airlines is to refund fares for passengers no longer wishing to travel on the carrier, Sky News has confirmed. Previously booked passengers due to fly up to and including July 25 can seek a refund without incurring any penalty. The decision...

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Top City Banker To Pay £450,000 FCA Penalty

By Mark Kleinman, City Editor One of the City's top financiers is poised to pay a £450,000 fine after deciding to accept a market abuse ruling by the Financial Conduct Authority (FCA). Sky News understands that Ian Hannam, a banker who became known...

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Germans Seek To Land Gatwick Air Traffic Role

By Mark Kleinman, City Editor Germany's state-owned airspace controller is vying with its principal British rival to land a 10-year deal to run air traffic services at the UK's second-busiest airport. Sky News has learnt that London Gatwick's shareholders...

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Microsoft Cuts 18,000 Jobs In Nokia Cull

Microsoft has confirmed plans to "eliminate" up to 18,000 jobs worldwide as part of efforts to simplify the company's operations and cut costs. The announcement was made in an email to staff entitled 'Starting to Evolve Our Organization and Culture'...

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Economy: Weakest Pay Growth For Five Years

The Biggest Five-Year Drop In Wages Since 1864 Updated: 4:28pm UK, Wednesday 16 July 2014 By Ed Conway, Economics Editor Let's begin at the beginning. Britain is poorer ... much poorer ... than it was five or six years ago. If you don't believe...

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Liberty In Talks To Buy BSkyB Stake In ITV

By Mark Kleinman, City Editor The owner of Virgin Media was in advanced talks on Wednesday night to buy a stake in ITV in a deal that would seal BSkyB's exit from the commercial broadcaster's share register. Sources said Liberty Global was closing...

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Banks Summoned Over 'Doomsday' Stress Tests

By Mark Kleinman, City Editor Britain's biggest lenders have been summoned to the Bank of England (BoE) as the industry prepares to undergo a searching test of its ability to withstand a sterling and housing market crash. Sky News has learnt that...

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Jaguar Banned Rover: Carmaker Rapped Over Ad

Carmaker Jaguar Land Rover has had a second advertisement in as many months banned for promoting speed and unsafe driving. The video - called The Art Of Villainy - on the company's YouTube channel featured actor Tom Hiddleston playing a suave British...

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IFS: Recession Has Hit Young Adults Hardest

Young people have "borne the brunt of the recession" with their pay and job prospects hit much harder than older generations, a leading economic think tank has said. The Institute for Fiscal Studies (IFS) found that among those aged 22-30 household...

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City Watchdog To Unveil Payday Loan Cap

By Mark Kleinman, City Editor The City regulator will unveil plans later for a lower-than-expected cap on the cost of payday loans in a move that will create one of the world's most stringent regulatory regimes for the fast-credit industry. Sky...

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Labour Steps Up Pressure On Royal Mail Fees

By Mark Kleinman, City Editor Labour is intensifying the pressure on Vince Cable to clarify whether millions of pounds of public money will be paid to bankers who worked on the controversial privatisation of Royal Mail. Chuka Umunna, the shadow...

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Energy Complaints Soar To All-Time High

Ofgem's Energy Market Probe 'Will Restore Trust' Updated: 1:22pm UK, Thursday 26 June 2014 Ofgem has announced an investigation in the energy market, to ensure there are no barriers to effective competition. The regulator said it has referred the...

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Chinese Takeaway For £900m PizzaExpress Chain

PizzaExpress is to be sold to a Chinese firm for £900m - a transaction described as the largest in the European restaurant sector in five years. The British restaurant chain has 436 outlets in the UK and another 68 around the world, including 22 in...

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Cable Plots Tougher Foreign Takeover Rules

By Mark Kleinman, City Editor Vince Cable is to set out new proposals to force buyers of key British companies to make watertight commitments aimed at protecting jobs and research budgets. The Business Secretary is expected to detail plans that...

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