Barclays Sets Aside £500m Over For-Ex Probe

Barclays has confirmed a £500m provision for fines relating to allegations foreign exchange markets were manipulated by banks. The London-listed lender announced the figure in its third-quarter results statement which also contained further costs...

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RBS Leans Towards Naming EY As New Auditor

By Mark Kleinman, City Editor Royal Bank of Scotland (RBS) is leaning towards appointing the smallest of the big four accountancy firms as its new auditor, a move that would spell the end of its relationship with Fred Goodwin's erstwhile employer. ...

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Tesco Faces Criminal Probe Over Profits Crisis

The Serious Fraud Office (SFO) has launched a formal criminal probe into Tesco's accounting crisis that led the UK's biggest retailer to overstate profits by £263m. The news was confirmed by both the supermarket chain and SFO, hours after Sky News...

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Federal Reserve Turns Off Quantitative Easing

By Sky News US Team The US Federal Reserve has ended its stimulus programme known as quantitative easing after six years of pumping money into the economy to bolster growth. The US central bank showed confidence that the nation's economic recovery...

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Sports Direct Settles Zero-Hours Legal Case

Sports Direct is updating the terms of its zero-hours contracts for more than 20,000 staff after settling a case brought by a former employee who claimed to have suffered panic attacks. According to law firm Leigh Day, the retailer controlled by Newcastle...

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Major Banks To Top Up PPI Bill To Over £22bn

By Mark Kleinman, City Editor Britain's five biggest banks are poised to take their aggregate bill for mis-selling payment protection insurance (PPI) past £22bn, underlining its status as the most costly scandal in the industry's history. Sky News...

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British Banks 'Can Survive Another Recession'

Four British banks have passed a stress test to determine if they would be able to survive an economic crisis comparable to the one seen in 2008. The Royal Bank of Scotland - 80% owned by the UK Government - satisfied the health check set by the European...

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Over Five Million Britons In Low-Paid Jobs

A record five million UK workers are now in low-paid jobs, according to a new report. The Resolution Foundation think-tank said the number of people earning less than £7.69 an hour increased by 250,000 last year to reach 5.2 million. The increase...

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Lloyds Bank: More Than 200 Branches To Close

By Mark Kleinman, City Editor Britain's biggest retail bank will set out plans next week to close more than 200 branches under a blueprint that will also see 9,000 jobs disappear. Sky News understands that Lloyds Banking Group will say that a significant...

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Lords Consider Drone Laws Over Privacy Fears

By Tom Cheshire, Technology Correspondent A House of Lords committee will hear from drone safety experts on Monday about whether legislation needs updating. The committee is investigating the civil use of unmanned aerial vehicles (UAVs) and is expected...

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