Ikea 'Regrets' Using Forced Prison Labour

Ikea says it "deeply regrets" the use of forced prison labour by suppliers in communist East Germany more than two decades ago. The Swedish furniture giant apologised after commissioning a report into claims political prisoners worked in factories making...

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Comet To Close 'Up To 40 Stores'

Comet is preparing to close between 30 and 40 stores by the end of the month, according to reports. Administrators have so far announced 330 redundancies at the electronics retailer but there have been no job losses among shop staff and all the chain's...

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Exclusive: Santander UK Plots Jersey Sale

The British arm of the giant banking group Santander is reviewing the future of its Jersey-based private banking arm days after rival HSBC was accused of using its business there to provide accounts to convicted criminals. I have learned that Santander...

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British Gas Customers Hit By Price Hike

Around 8.5 million households are being hit with a 6% rise in their energy bills as British Gas becomes the latest utility giant to hike its tariffs. The move is estimated to add another £80 to the typical annual dual-fuel bill for a British Gas customer,...

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Fuel Price Misery: AA Demands Action

The AA has accused ministers of failing drivers and businesses by failing to clamp down on what is sees as unfair fuel prices. The motoring group says while average unleaded prices have gone down from 138.95p a litre in mid October to 135.08p - with...

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RBS And Lloyds TSB 'May Cost Taxpayer £66bn'

More than £66bn of taxpayers' money invested in RBS and Lloyds TSB may never be recovered, MPs have warned. The Commons Public Accounts Committee (PAC), said that lessons needed to be learned from the sale of Northern Rock - and applied to decisions...

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John Lewis Boss Urges Action On Foreign Firm Tax

The managing director of retail chain John Lewis has become the first leader of a British business to call on the Government to examine the way foreign multinationals pay tax in the UK. Andy Street told Jeff Randall Live exclusively that the Treasury...

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Credit Card Insurer Close To FSA Deal

CPP, one of Britain's biggest credit card protection providers, is poised to reach a settlement with regulators that could safeguard its future. I understand that CPP is on the verge of announcing that the Financial Services Authority (FSA) has agreed...

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Heathrow Third Runway Campaign Takes Off

Heathrow Airport's owners have stepped up their campaign for a controversial third runway by claiming that a lack of capacity at the major hub is costing the economy up to £14bn annually. It believes the price in lost trade and jobs could rise to £26bn...

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Toyota Issues Another Massive Recall

Toyota has announced its second huge recall of vehicles in as many months in a move affecting almost 2.8 million cars world-wide. The company blames problems with steering mechanisms and its hybrid system water pump. The Japanese firm said it was recalling...

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Sainsbury's Sees Pre-Tax Profit Up 2.5%

Supermarket chain Sainsburys has reported like-for-like sales for the half year rise by 1.7%, with pre-tax profit up 2.5% at £405m. Revenue, excluding VAT and fuel, for the six months to September 29 was up 4% at £12.16bn. Total sales in the period...

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Energy Firm SSE Defends 38% Profits Rise

The energy firm SSE has defended a 38% rise in half year profits at a time when its gas and electricity bills are rising by 9% on average. The company, formerly known as Scottish & Southern Energy, made an adjusted profit before tax of £397.5m in...

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Greece Forced To Borrow More From Markets

Debt laden Greece faces the prospect of going to the financial markets to avoid bankruptcy after Eurozone finance ministers delayed a crucial aid payment. The country, which faces a bond repayment on Friday it cannot afford, was banking on Eurozone...

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Gas Prices: Watchdogs Probe Fixing Claims

The Financial Services Authority (FSA) and Ofgem are investigating claims by a whistleblower that Britain's wholesale gas market has been frequently manipulated by energy companies. The allegations, revealed by The Guardian, suggest the £300bn market...

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Workers To Be Able To Ask For Flexible Hours

By Gerard Tubb, Sky Correspondent New mothers will be able to share leave with their partners and all workers will have the right to flexible hours under radical reforms. Changes to be announced by Deputy Prime Minister Nick Clegg will mean mothers...

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Exclusive: Royal Mail To Deliver Float

By Mark Kleinman, City Editor The Government is to begin sounding out City investors about their appetite to buy shares in Royal Mail ahead of a potential flotation of the postal service. I have learned that ministers and the Shareholder Executive,...

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Greece Approves 2013 Austerity Budget

Greek MPs have approved the country's 2013 austerity budget - which involves fresh spending cuts. The budget was passed by a 167-128 vote in the 300-member parliament. It came days after a separate bill of deep spending cuts and tax hikes for the next...

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Fuel Duty: Chancellor Osborne Under Pressure

Chancellor George Osborne may bow to demands and delay a planned fuel duty hike amid fears it will hit struggling families. Tory rebels had been planning to break ranks and vote with Labour in an Opposition debate on Monday calling for the 3p increase...

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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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Exclusive: Royal Mail To Deliver Float

By Mark Kleinman, City Editor The Government is to begin sounding out City investors about their appetite to buy shares in Royal Mail ahead of a potential flotation of the postal service. I have learned that ministers and the Shareholder Executive,...

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Chancellor Told To Halt Petrol Price Hike

George Osborne is under renewed pressure to abandon a planned increase in fuel duty, amid warnings that the rising price of petrol was putting household budgets under unprecedented pressure. As MPs prepare to vote on Monday on the planned 3p a litre...

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