FSA Warns Banks On Bonus Culture

The City regulator has warned Britain's biggest banks that they need to demonstrate "a change in culture" when they unveil their bonus pots for 2012 in the new year, paving the way for one of the steepest reductions in payouts on record. I have learnt...

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Bank Staff 'Under Pressure To Sell', Which? Says

Staff at Britain's largest banks remain under pressure to sell products to customers, often regardless of whether they are appropriate, an investigation claims. Two thirds of bank staff with a sales role said there is now "more pressure than ever" to...

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Starbucks Tax Row: Protests Planned Across UK

Coffee chain Starbucks is braced for protests over its tax arrangements despite announcing changes to its payments. The US-owned giant said it expects to pay around £10m in UK corporation tax for each of the next two years, following the revelation...

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Starbucks Tax Row: £10m Climbdown

Starbucks has vowed to pay more corporation tax than it is obliged to as the coffee chain denies hiding profits from the UK taxman. The company's UK managing director Kris Engskov told Sky News that the decision to "take action" followed anger from...

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West Coast Rail Debacle 'Cost Taxpayers £50m'

Taxpayers face a "significant" bill over the botched West Coast rail franchise process, a report from a government spending watchdog has said. The Department for Transport's running of the West Coast bidding process lacked management oversight, with...

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Bank Staff 'Under Pressure To Sell', Which? Says

Staff at Britain's largest banks remain under pressure to sell products to customers, often regardless of whether they are appropriate, an investigation claims. Two thirds of bank staff with a sales role said there is now "more pressure than ever" to...

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Virgin Trains Holds On To West Coast Line

Virgin Trains says it has reached an agreement to operate services on the West Coast Main Line for the next 23 months. It comes after an embarrassing U-turn by the Department for Transport (DfT), which admitted it got its sums wrong after initially...

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Rolls-Royce Warns Of Corruption Investigation

Rolls-Royce says it has passed information to the Serious Fraud Office (SFO) relating to concerns about bribery and corruption overseas. It follows a request for information from the SFO about allegations of malpractice involving intermediaries in Indonesia...

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Topshop Stake Sale Agreed By Sir Philip Green

Retail tycoon Sir Philip Green has confirmed the sale of a 25% stake in his Topshop and Topman chains for £500m. The move, which was exclusively revealed by Sky's City Editor Mark Kleinman on Tuesday, values the two high street brands at £2bn. Kleinman...

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Sir Philip Green Sells Topshop Stake

By Mark Kleinman, City Editor Sir Philip Green, the high street billionaire, is to sell a chunk of his burgeoning Topshop empire to outside investors in a move that will cement his reputation as one of Britain's most successful businessmen. I can...

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Autumn Statement: Osborne Tightens The Screw

Chancellor George Osborne will today warn there are no "miracle cures" as he admits more drastic action is needed to balance Britain's books. Mr Osborne will confirm in a bleak mini-budget that Whitehall departments are being ordered to find another...

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Tesco Confirms It Could Pull Out Of US

Tesco has confirmed a review of its loss-making US operations with "all options under consideration" as it attempts to convince the City on its wider turnaround plans. The move, which was exclusively revealed by Sky's City Editor Mark Kleinman last...

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Autumn Statement: New Private Finance Scheme

Chancellor George Osborne is set to overhaul the heavily criticised Private Finance Initiative in a bid to boost the economy. Mr Osborne will include plans for a "faster and more transparent" system of private funding for public infrastructure projects...

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Xmas 'Nerves' For Nation's Retailers

There are signs that Christmas shoppers are adopting a 'wait and see' approach in the hope of a price war among retailers in the run-up to December 25. The latest sales figures from the British Retail Consortium (BRC) show a rise of 0.4% during November,...

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Thomson Owner Paid No UK Corporation Tax

Tui Travel has paid no corporation tax in the UK over the last year, despite a hike of almost 40% in statutory profit. The boss of the company, which owns Thomson and First Choice among others, told Sky News it was as a result of restructuring at the...

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Executives' 12% Pay Rise 'Unacceptable'

Executive pay has trebled over the past 10 years, despite the UK's banking crisis and double-dip recession, according to an independent think tank. Over the last financial year, the chief executives of Britain's top companies have seen pay increase...

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Mega Monday To Make Online Sales History

Online retailers in the UK are expecting today to be the busiest shopping day in history. Recent years have seen online shopping figures consistently peaking on the first Monday in December, dubbed Mega Monday. Visa Europe predicts £320m will be spent...

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Tax: Starbucks, Google And Amazon 'Immoral'

By Darren McCaffrey, Sky News Reporter Starbucks, Google and Amazon have been accused of "immorally" avoiding paying their fair share of tax in the UK, as the Chancellor prepares a blitz on tax dodgers. MPs on the Public Accounts Committee criticised...

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Millions Of Households 'Feel Squeezed'

More than 10 million households are feeling financially squeezed and almost one in 10 have defaulted on a loan, bill or housing costs, a consumer group has said. Releasing its findings ahead of Chancellor George Osborne's Autumn Statement this week,...

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Osborne Eyes Tax Evaders And Pensions Of Rich

The Chancellor has promised to hunt down tax evaders and tax the wealthy - warning that everyone must make a contribution. In his Autumn Statement on Wednesday, George Osborne is set to hit the pension pots of the wealthiest by slashing the £50,000...

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Making Sense Of Britain's Lopsided Recovery

One of the most common observations you encounter here in London, where Sky News is based, is that despite all the headlines about recession - about the fact that this has been the worst slump in modern British history - it often doesn't feel as if there...

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