Bankers' Bonuses: EU Agrees Cap On Payments

European Union officials have agreed a provisional deal to cap bankers' bonuses, despite the UK Government's efforts to protect the country's dominant financial services sector. The plan would see the maximum payout set at a year's salary but that could...

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High Street Crisis: Chain Closures Accelerating

The bloodbath on Britain's high streets has accelerated dramatically with the rate of major chain store closures increasing ten-fold, hitting 20 per day in 2012. Analysis by PwC and the Local Data Company found that year-on-year, the net reduction in...

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RBS Boss: Spring Cleaning Drives £5.16bn Loss

The Royal Bank of Scotland boss has said "spring-cleaning" continues after his firm reported a pre-tax loss in 2012 of £5.16bn. RBS chief executive Stephen Hester said: "This company is going through a pretty thorough spring-cleaning. It is a pretty...

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Horsemeat: Tesco To Source More Meat From UK

By Poppy Trowbridge, Business and Economics Correspondent Tesco is to announce a commitment to source more of its meat from the UK at a farming conference in Birmingham later. The supermarket kingpin will tell the National Farmers Union meeting...

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Budweiser Rejects 'Watered-Down' Lawsuit

Drinkers of Budweiser - marketed as the "King of Beers" - are taking the company to court over allegations the popular American lager is watered down to boost profits. A lawsuit, filed in California, accuses Anheuser-Busch of violating consumer protection...

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British Gas Sees Profit Up 11% To £606m

British Gas has reported a profit increase for the full year of 11% to £606m. The company said it performed well in the financial year to December 31, despite a weak economy and energy cost increases. It said: "This is having a real impact for both...

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AAA Credit Rating Lost: Osborne Defiant

George Osborne has come under attack over what Labour calls his "catastrophic economic policy failure" after the UK lost its top-grade AAA credit rating. International agency Moody's downgraded it by one notch to AA1, citing slow growth and a rising...

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Exclusive: RBS Mis-Selling Bill To Add £1.1bn

By Mark Kleinman, City Editor The state-backed Royal Bank of Scotland (RBS) will next week set aside another £1.1bn to compensate customers for mis-selling products to consumers and small businesses. I can reveal that the bank is preparing to say...

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Myners: Ex-Minister Courted For Tabloid Role

By Mark Kleinman, City Editor Lord Myners, former chairman of The Guardian's parent company, has been approached about chairing a new venture that is targeting a foothold in Britain's cut-throat tabloid newspaper market. I understand that the board...

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