UK Economy Emerges From Six-Year Downturn

Official figures show the UK economy has emerged from six years of lost growth to return to its pre-crisis peak. The Office for National Statistics (ONS) said Britain's economy was now bigger than it was before the financial crisis as gross domestic...

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Housing Shortage Sees More Tenants Evicted

By Mark White, Home Affairs Correspondent Increasing numbers of private tenants are being evicted or exploited by landlords cashing in on the increase in house prices and the shortage of rented accommodation, according to latest figures. Citizens...

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IMF Upgrade For UK As Russian Growth Shrinks

The International Monetary Fund (IMF) has revised upwards, for a fourth consecutive time, its forecast for UK economic growth while sharply lowering expectations for the US and sanctions-hit Russia. In its latest World Economic Outlook (WEO), the IMF...

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UK Economic Depression To Be Declared 'Over'

By Ed Conway, Economics Editor The longest economic depression in British history will be declared over today, with the Office for National Statistics expected to confirm that the recovery is strengthening. The ONS is expected to report that the...

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Ryanair Told To Pay Back €9.6m In State Aid

Ryanair is facing a legal battle with the European Commission after it was ordered to repay almost €10m (£7.9m) in what was found to be illegal state aid. The no-frills carrier said it had instructed its lawyers to challenge the Commission's findings...

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Scottish Referendum: Banks Weigh New Warnings

By Mark Kleinman, City Editor Britain's biggest banks are weighing up plans to outline further risks associated with Scottish independence when they unveil half-year results with less than 50 days to go before the crucial vote. Sky News understands...

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Banks Face £1.5bn Hit From PPI Claims Deluge

By Mark Kleinman, City Editor Britain's largest high street banks will announce next week that they are setting aside more than £1bn in additional provisions to compensate customers who were mis-sold payment protection insurance (PPI). Sky News...

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UK Prepares For EU Ruling On Energy State Aid

By Mark Kleinman, City Editor The Government is braced for a ruling from Brussels on Wednesday that will influence the fate of billions of pounds in investment in low-carbon energy policies. Sky News understands that the European Commission (EC)...

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Tesco Chief Philip Clarke To Step Down

Tesco's chief executive Philip Clarke is to quit after a string of poor results for the supermarket giant. The group, which is seeing its worst sales performance in four decades, announced Mr Clarke's departure as it issued a fresh warning on profits....

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Fraud Probe Into Foreign Exchange Market

The Serious Fraud Office has opened a criminal investigation into allegations of fraud in the foreign exchange market. Britain's financial watchdog Financial Conduct Authority (FCA) in October joined other regulators around the world in investigating...

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BBA: City Sanctions Regime Needs Overhaul

By Mark Kleinman, City Editor Procedures for punishing bankers who breach City rules require urgent changes, including the option of "part-settlement" of cases brought by regulators, the banking industry lobbying group has said. In a submission...

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Newly-Listed TSB Says Yes To £1.4bn UKAR Bid

State 'Bad Bank' Plots £1.5bn Mortgage Sale Updated: 3:07pm UK, Tuesday 03 June 2014 By Mark Kleinman, City Editor The state-owned 'bad bank' which holds the remnants of Bradford & Bingley and Northern Rock is to sell a £1.5bn mortgage portfolio...

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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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Newly-Listed TSB Says Yes To £1.4bn UKAR Bid

State 'Bad Bank' Plots £1.5bn Mortgage Sale Updated: 3:07pm UK, Tuesday 03 June 2014 By Mark Kleinman, City Editor The state-owned 'bad bank' which holds the remnants of Bradford & Bingley and Northern Rock is to sell a £1.5bn mortgage portfolio...

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