BA Owner Faces Strike Threat Over Job Cuts

Staff at Spanish airline Iberia have rejected a restructuring plan that involves 4,500 job cuts and are willing to strike, labour unions said. The threat of industrial action comes after IAG - the company formed by merging BA and Iberia - revealed an...

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Treasury Gets £35bn Windfall From QE Interest

The Treasury is to receive a £35bn boost as part of a deal with the Bank of England that will effectively reduce public debt. Chancellor George Osborne and Bank Governor Sir Mervyn King have agreed that the BoE will give the Treasury interest earned...

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Olympic Stadium: Dismay Over Delayed Future

By Enda Brady, Sky News Correspondent Olympic and Paralympic champions have voiced their dismay at news that the stadium may not open fully until the summer of 2016. Four bids are still being considered as full-time tenants at the Stratford venue,...

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Fuel Duty: Osborne Faces Call To Delay Hike

Chancellor George Osborne is being challenged to use money saved from closing tax loopholes to fund a delay in next year's planned fuel duty hike. Labour is pushing for the planned 3p hike to be postponed for a second time and will force a Commons vote...

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BA Owner IAG Hit By Iberia Performance

IAG - the company formed by merging BA and Iberia - has made an operating profit of just £13.5m in the nine months to September 30. The results show Iberia is the weak link in the group, making a standalone operating loss of £209m in the period, while...

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HSBC Offshore Account Holders Investigated

HM Revenue and Customs (HMRC) has said it is studying a list of British HSBC customers in Jersey after a whistleblower handed over a list of names, addresses and account balances. The department will now investigate the customers' details to establish...

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Supermarkets Cut Petrol Prices By Another 2p

Three supermarket chains have cut their petrol prices again, reducing the cost of fuel by 2p at pumps across the nation. Asda was the first to announce the discount, which follows similar reductions towards the end of last month. It will now charge...

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World Stock Markets Fall After Obama Victory

Four More Years: A City Expert's View Updated: 6:25am UK, Thursday 08 November 2012 By David Buik, Cantor Index There is a considerable school of thought that Barack Obama was rather an insipid and ineffectual Commander-in-Chief and that his first...

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Morrisons' Sales Fall Ahead Of Xmas Battle

Morrisons supermarket chain says customer confidence remains "fragile" as it reports a fall in underlying sales. The UK's fourth largest grocer said sales at stores open for over a year, excluding fuel, fell 2.1% in the first three quarters of...

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Pay Gap In Reverse As Women Work 'For Free'

The gender pay gap is so large that women will effectively work the rest of the year for free, it is claimed. A study by the campaign group Fawcett Society suggests that, rather than improving, the pay and jobs prospects of women are going into...

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Rail Bid Shambles: FirstGroup Holds Dividend

The flawed bid process at the Department for Transport (DfT) which cost FirstGroup (FG) the West Coast Mainline rail franchise will also hit the company's shareholders. In its first half results announcement FG confirmed it was holding dividend payments...

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Burberry's Profit Falls After Perfume Hit

Burberry reports a fall of almost 30% in profit in the first half of this year, but its revenue beat expectations despite a slowdown in demand from Asia. It said pre-tax profit over the six months to the end September was £112m - which includes one-off...

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BRC: Retail Sales Fall Ahead Of Christmas Rush

Retail sales have grown at their slowest pace for almost a year as shoppers stick to buying only essential items, according to new research. Like-for-like sales were down 0.1% in October, compared with the same period last year, a study by the British...

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Marks And Spencer Reports Fall In Profit

Marks and Spencer has reported a fall in underlying pre-tax profit to £297m for the first half of this year. The chain blamed pressure on consumers' disposable incomes and volatile trading conditions - hit by bad weather - for the figure, which compares...

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Two Day Greek General Strike Before Austerity Vote

A two-day General Strike is underway in Greece as Parliament prepares to vote on a new round of austerity measures which unions argue will devastate the poor and drive a failing economy to collapse. Thousands are expected to join a march in Athens in...

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Delicate Diplomacy On Cameron Gulf Arms Tour

David Cameron is attempting to cement major UK arms sales and bolster relations with allies on a three-day tour of the Gulf and Middle East. The Prime Minister will personally spearhead a push to persuade the United Arab Emirates to buy 60 of BAE's...

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Ryanair Sees Profit Soar 10% In First Half

Ryanair has reported an after-tax profit of 596m euros (£477m) for the first half of 2012, up 10% on the same period last year. The budget airline's results beat analysts' expectations thanks to a surge in passenger numbers over the summer and a lower...

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HSBC Sees 52% Profit Drop For Third Quarter

HSBC has announced a 52% fall in third quarter profit, as the bank taking further hits on US anti-laundering fines and mis-selling insurance in the UK. It confirmed setting aside another $800m (£500m) to cover fines from US authorities, taking the total...

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RBS Confirms £1.2bn Loss After PPI Hit

RBS has confirmed it made a loss before tax of £1.2bn in the third quarter, compared with a profit of £2bn for the same period last year. As revealed by Sky's City Editor, the bank has set aside a further £400m for the mis-selling of payment protection...

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Car Insurance Cost Fall 'Will Not Last'

Car insurance premiums are said to have gone into reverse gear by £360 (13.6%) for young drivers - but there are concerns costs could rise dramatically after next month's EU gender ruling. Insurance comparison site Confused.com has advised 17 to 20-year-old...

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Comet Collapse: Gift Vouchers Suspended

Gift vouchers for stricken electrical retailer Comet have been suspended, the chain's administrator has confirmed. Deloitte, which was appointed on Friday, has launched an "urgent" search for a buyer to protect some 6,600 jobs at the 236-outlet chain....

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