UK Economic Growth Less Than Expected

Britain's growth figure for the third quarter has been revised to 0.9% by the Office for National Statistics. That is down from their previous estimate of 1%. Britain's dominant services sector posted meagre growth in October, adding to the challenge...

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BAE Systems Strikes £2.5bn Deal With Oman

By Alistair Bunkall, Defence Correspondent A deal worth £2.5bn has been completed between British defence manufacturer BAE Systems and Oman. It will see BAE provide the Gulf state with 12 Eurofighter Typhoon aircraft and eight Hawk training jets....

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Retailers Geared Up For 'Busiest Day'

By Tadhg Enright, Business Correspondent As the last full shopping day before Christmas Eve, today is expected to be the busiest day of the year on high streets and in shopping centres. The British Retail Consortium expects between £4bn and £5bn...

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Banks Face Break-Up Over Risky Trading

By Poppy Trowbridge, Business and Economics Correspondent UK banks face break-up if they fail to follow new rules protecting high street operations from riskier trading. The Parliamentary Commission on Banking Standards has published a report assessing...

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Nokia And Blackberry-Maker Agree Patent Truce

Nokia has settled all its patent disputes with Blackberry-maker Research In Motion amid the costly legal rows still gripping the fiercely competitive smartphone industry. While terms of the agreement were confidential, Nokia said, the deal on wi-fi...

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BAE Strikes £2.5bn Deal With Oman

By Alistair Bunkall, Defence Correspondent A deal worth £2.5bn has been completed between British defence manufacturer BAE Systems and Oman. It will see BAE provide the Gulf state with 12 Eurofighter Typhoon aircraft and 8 Hawk training jets. ...

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Tax Row: McDonald's Calls For Review Of Law

The chief executive of McDonald's in the UK has said Britain's corporation tax rules need to be addressed. Speaking on Jeff Randall's Christmas Dinner, Jill McDonald warned that the continuing row over the amount of corporation tax companies pay could...

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London Midland Free Tickets After Delays

Free travel passes and cheap train tickets are being given to London Midland passengers hit by cancellations and delays after the Government stepped in. The package, worth £7m, was imposed after months of problems on routes which cover London, Birmingham,...

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Ryanair: Airline Bottom Of Which? Survey

Ryanair is the least popular short-haul airline, according to a new survey that gave the carrier its lowest approval rating ever. The Irish firm received an overall satisfaction score of just 34% in a table put together by consumer magazine Which? from...

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Investigation Launched Into Comet Collapse

The Department for Business, Innovation and Skills has launched an investigation into the purchase and administration of troubled electrical chain Comet. The Insolvency Service has been tasked with scrutinising the process following a number of...

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Nissan To Build Luxury Car Model At UK Plant

Car giant Nissan is to build a new luxury model in the UK, creating 1,000 jobs with a £250m investment. The new global model will be manufactured at the Japanese firm's plant in Sunderland, which employs 6,000 workers. The car, built under Nissan's...

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Libor Rate-Rigging: UBS Pays £940m Penalty

The Swiss bank UBS is to pay £940m, including £160m to regulators in Britain, to settle Libor rate-rigging investigations. The fines, which amount to the second biggest penalty paid by a bank in the wake of the £1.2bn money laundering settlement announced...

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Comet's Remaining Stores Close For Last Time

Comet's 50 remaining stores are trading for the final time after administrators failed to find a buyer for the electrical retailer. The collapse of the firm, founded in Hull in 1933 and which employed around 6,895 people at the time of its collapse,...

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HMRC Missed Calls Cost Taxpayer £136m A Year

Delays in answering phone calls to HM Revenue and Customs hotlines cost the taxpayer £136m in the last year. According to a National Audit Office (NAO) report, delays cost customers £33m in call charges while they waited for HMRC to answer the phone...

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Investigation Launched Into Comet Collapse

The Government has launched an investigation into the purchase and administration of troubled electrical chain Comet. The Department for Business, Innovation and Skills has tasked the Insolvency Service with scrutinising the process following a...

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Fuel Poverty Warning For 300,000 More Homes

A further 300,000 people will be pushed into fuel poverty by Christmas because of the latest round of energy price hikes, an advisory body has warned. The Fuel Poverty Advisory Group (FPAG) said the latest round of energy price rises has increased the...

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Taxpayer Faces £50m Bill For Comet Collapse

The taxpayer is facing a £50m bill for the collapse of electrical retailer Comet, a report from the administrator is set to reveal. The report from Deloitte is likely to indicate that insufficient funds have been raised from the winding down of the...

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Fuel Bills To Rise As Networks Get Upgraded

Energy watchdog Ofgem has announced a major upgrade to Britain's gas and electricity networks that will be funded by a rise in consumer bills. The £24bn investment in the UK's ageing infrastructure will take place between April next year to...

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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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