Open University To Go Global With Online Courses

The Open University (OU) has launched a campaign to take distance learning global - as it attempts to catch up with online course offered by US colleges. The OU has teamed up with 10 British universities in a venture called FutureLearn. The plan is...

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EU Summit: Cameron 'Committed To Saving Euro'

The Prime Minister has made it clear he wants favours in return for signing a deal aimed at increasing economic and monetary union in the European Union. At the seventh and final EU summit of the year, David Cameron insisted the UK was not in an uncomfortable...

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Bayer Seeks Approval For Prostate Cancer Drug

Drug company Bayer has requested approval from US regulators for a new drug to treat prostate cancer. The German pharmaceutical maker said the product could potentially reap annual sales of over 1bn euros (£810m). Bayer applied for EU approval...

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UBS Faces $1bn Fine Over Libor Manipulation

UBS is expected to be hit with a fine of around $1bn to settle Libor manipulation charges. The total amount - worth around £620m - will be a combined penalty from US and UK regulators, and is expected to be confirmed early next week. UBS declined to...

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Queen Asks Bank Bosses About Financial Crisis

The Queen has finally had her question answered on why nobody saw the financial crisis coming during a visit to the Bank of England. Four years ago, during the height of the global crisis, the Queen famously asked: "Why did nobody notice it?" While...

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EU Leaders To Give Bank Deal Timetable

European leaders are expected to set a loose timetable for "genuine economic and monetary union" in the region later today. It comes a day after European finance ministers took a major step towards full banking union by agreeing to create a single supervisor...

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Brussels: Deal On ECB Banking Supervision

European finance ministers have taken a major step towards full banking union by agreeing to create a single supervisor for Eurozone banks. The deal reached just before dawn in Brussels follows months of negotiations and will be put before European...

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Fracking Could Get Green Light From Ministers

The Government is set to announce today whether it will lift a ban on the controversial process of shale gas exploration known as fracking. Ministers are expected to allow gas company Cuadrilla to resume operations in Lancashire after they were halted...

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HMV Warns Of Covenant Breach As Sales Fall

HMV has warned that uncertainties facing the business mean it is likely to breach its banking covenant in January. The high street stalwart - which sells CDs, DVDs, games, music players - said it was in "constructive discussions" with banks about its...

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Virgin Atlantic Takes On BA With Delta Deal

Singapore Airlines has sold its 49% stake in Virgin Atlantic to rival Delta, in a move that will bolster Virgin's reach in the United States and intensify its rivalry with British Airways. The deal was announced just 24 hours after a verbal spat between...

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SuperGroup's Profits Up After Sales Boost

The owner of the SuperDry fashion brand has reported a hike in profit, as a broader product range boosted sales. SuperGroup - whose products are favoured by celebrities including David Beckham and Pippa Middleton - said pre-tax profit over the 26 weeks...

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Adam Posen: Osborne's Plan Is 'Misguided'

George Osborne's economic strategy is "misguided" and has left Britain "malnourished", according to a former Bank of England policymaker. Adam Posen, who stepped down from the Monetary Policy Committee (MPC) in August, accused the Government of focusing...

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HSBC To Pay £1.2bn In Money Laundering Case

Record Fine: HSBC's Statement Updated: 8:39am UK, Tuesday 11 December 2012 HSBC released the following statement after confirming it will pay $1.9bn (£1.2bn) to the US Department of Justice over money-laundering. HSBC has reached agreement with United...

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Starbucks Effect? Costa Coffee Sales Shoot Up

Sales at Costa Coffee have shot up by over 25%, the chain's owner Whitbread has reported. Like-for-like sales at its coffee shops increased by 7.1%, while total sales were up by 25.5% in the three months to November 29. It comes amid an ongoing row...

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HSBC Bonuses Hit After £1.2bn Fine

By Mark Kleinman, City Editor HSBC's top executives are to defer a portion of any bonuses they are awarded for the next five years following the bank's £1.2bn fine for breaching money laundering rules in the US. I have learned that the Deferred...

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Tax Row 'Helping John Lewis Online Sales'

Tax Row: Convenience Still Priority Updated: 7:27pm UK, Sunday 09 December 2012 By Tadhg Enright, Business reporter Recession? What recession? So has been the mantra at John Lewis throughout the financial crisis during which sales growth consistently...

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Twitter Fined Over UK Business Accounts Delay

By Pete Norman, Sky News Online Social media giant Twitter has been fined after failing to file its UK corporate accounts, Sky News has learned. The company was due to lodge its annual accounts no later than September but has still not done so,...

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Unemployed To Get Free Bus Travel

Bus companies have come together to offer free travel to the unemployed as part of a Government-backed scheme to help people find work. Some 800,000 people across Britain who have been without a job for between three months to a year will be eligible...

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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: Protestors Occupy Stores

Anti tax avoidance activists have staged protests at more than 50 Starbucks stores to complain about the coffee chain's tax arrangements. UK Uncut said it was the most widespread day of action it had ever held, showing the depth of anger at the scale...

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