Current Account Exodus At Troubled Co-op Bank

The troubled Co-op Bank has revealed it lost almost 30,000 current account customers in the first half of its financial year. The bank, which was forced to raise almost £2bn to plug a capital black hole last year, reported significantly lower losses...

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Draghi: ECB Ready To Spur On Euro Economy

The boss of the European Central Bank (ECB) has revealed it is ready to do more to boost a shaky recovery in Europe. But Mario Draghi warned EU member governments they must still join in efforts to reduce high unemployment, which remains stubbornly...

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Bank of America $17bn Record Penalty Confirmed

A record settlement of almost $17bn has been officially confirmed between the US Justice Dept and Bank of America. The $16.65bn (£10bn) deal, which followed numerous federal and state inquiries, relates to the bank's role in the sale of mortgage-backed...

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First-Time Buyers 'Getting A Shot At Long Last'

By Poppy Trowbridge, Consumer Affairs Correspondent The number of first time buyer sales has hit a seven year high, according to new figures from LSL Property Services. There were 30,000 first-time buyer sales in July, up by 25% on a year before...

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Two BoE Members Wanted Interest Rate Rise

Looking Into the Interest Rate Crystal Ball Updated: 12:43pm UK, Wednesday 20 August 2014 By Ian King, Business Presenter It is certainly dramatic news, on the face of it, that two members of the Bank of England's Monetary Policy Committee (MPC)...

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Bank Of America Agrees Record $17bn Settlement

Bank of America has agreed to a record $17bn (£10.2bn) settlement over its sale of mortgage-backed securities in the lead up to the 2008 financial crisis. The bank will pay $10bn in cash and provide consumer relief valued at $7bn, officials familiar...

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Lastminute Owner Eyes Sale Of UK Dotcom Icon

By Mark Kleinman, City Editor Lastminute.com, one of the icons of the original dotcom boom, is being put up for sale nearly a decade after its takeover by an American technology giant. Sky News has learnt that Sabre Holdings, which is listed in...

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Wall Street Giants Swoop On Sub-Prime Lender

By Mark Kleinman, City Editor Two giants of Wall Street are in advanced talks to acquire Kensington, one of the UK's biggest sub-prime mortgage lenders. Sky News has learnt that divisions of Blackstone and TPG, the US-based private equity groups,...

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UK Growth Hits Fastest Annual Pace Since 2007

The annual rate of UK economic growth has been revised upwards to 3.2% - its fastest pace since the end of 2007. The announcement was made by the Office for National Statistics (ONS) as it confirmed GDP growth of 0.8% in the second quarter of the year....

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Lastminute Owner Eyes Sale Of UK Dotcom Icon

By Mark Kleinman, City Editor Lastminute.com, one of the icons of the original dotcom boom, is being put up for sale nearly a decade after its takeover by an American technology giant. Sky News has learnt that Sabre Holdings, which is listed in...

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