Austria Slams UK Over 'Tax Haven Hypocrisy'

Austria's finance minister has slammed Britain over its push against tax havens and bank secrecy laws. Maria Fekter said: "Great Britain has many money laundering centres and tax havens in its immediate legal remit - the Channel Islands Gibraltar, the...

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HBOS: Bosses Get Bonuses 'For Going Bust'

Pressure is mounting on disgraced former HBOS bosses amid anger over mammoth pension pots and nearly £1m of "bonuses for going bust". Seven directors of HBOS landed £914,000 in "change of control" payments triggered by the bank's rescue takeover by...

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Floods: UK Insurers Avoid Covering Risky Homes

By Becky Johnson, North of England Correspondent People whose homes have been devasted by flooding fear they will be unable to get insurance in future as talks between the Government and insurers have so far failed to reach an agreement. At present...

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KPMG Auditor Charged Over Insider Trading

US officials have charged a former senior partner of accounting giant KPMG over alleged insider trading. Authorities charged Scott London with five criminal and civil charges over claims he gave a golfing partner non-public information, which was used...

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'Unpaid' Interns: Firms Reported To HMRC

The details of 100 companies accused of breaking the law by using unpaid interns in paid roles have been handed to HM Revenue and Customs by Employment Minister Jo Swinson. Ms Swinson told Intern Aware, which campaigns for paid internships, that its...

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Construction Industry Output Drops 7%

The total volume of UK construction output in February was 7% lower than in the same month last year, according to official figures. Although output showed a significant contraction to a year earlier, output was 5.5% higher than in January, according...

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President Obama Unveils 2014 Budget Blueprint

By Dominic Waghorn, US correspondent President Barack Obama has sent a $3.77trn budget to Congress hoping to overcome fundamental differences with Republican rivals. The ongoing struggle between Republicans and Democrats over taxing and spending...

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M&S Sees Clothing Sales Fall As Food Goes Up

Retailer Marks and Spencer has reported a drop of 3.8% in like-for-like clothing sales for the first three months of the year, as food sales rose 4%. It was the seventh consecutive quarterly fall in underlying general merchandise sales, though the outcome...

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Millions Of Cars Recalled Over Faulty Airbags

More than three million cars - including 152,000 on British roads - are recalled because of possible problems with passenger airbags. A Japanese transport ministry official said four carmakers submitted reports about the problems and the recall would...

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Unicef: Austerity Risks Children's Prospects

British children's prospects trail behind many of their European neighbours and current Government policies are making it worse, a UN organisation has warned. Unicef's report on child well-being placed the UK 16th out of 29 developed countries, but...

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KPMG Quits Audit Role Amid FBI Investigation

Top accounting firm KPMG is under investigation by the FBI over allegations of insider trading by one of its auditors. KPMG said it has resigned as auditor of two US corporations amid the inquiry involving leaked information from a former senior partner....

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Pressure Mounts On Two Other HBOS Bosses

Pressure has continued to mount on two members of the 'HBOS Three', after former chief executive Sir James Crosby decided to give up his knighthood and a portion of his £580,000 pension. Ex chairman Lord Stevenson and Andy Hornby were urged to offer...

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Energy Debts: Amount Families Owe Mounts

The number of families in debt to their energy supplier is rising, with around one in five households owing money, a study suggested. Collectively, Britons are estimated to owe £637m to energy firms, which is £159m more than last year's projections,...

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Cold Weather Affects Retail Sales Figures

The coldest March in 50 years saw sales of clothing and footwear freeze but it boosted demand for food and drink, according to new figures. The British Retail Consortium (BRC) said sales grew by 1.9% in March on a like-for-like basis, weaker than February's...

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UK Manufacturing Output Gets February Boost

UK manufacturing output went up 0.8% in February as it rebounded from a snowy January, according to official figures. The Office for National Statistics (ONS) said the 0.8% boost, which was almost double that forecasts by economists, came after it said...

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Disability Benefits: New System Rolled Out

By Siobhan Robbins, Sky Reporter Major changes to disability benefits, which critics say will leave many worse off, are beginning to be rolled out today. New claimants in parts of northern England will now receive Personal Independence Payments...

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Luxembourg 'May Ease' Bank Secrecy Laws

Luxembourg has said it is prepared to ease its banking secrecy rules and work more closely with foreign authorities amid a crackdown on tax havens. Its finance minister, Luc Frieden told Germany's Frankfurter Allgemeine Sonntagszeitung of the possible...

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Total UK Wealth 'Now Exceeds £7 Trillion'

Total household wealth in the UK has soared past the £7trn mark for the first time amid a growing stratification of society, according to new research. Net wealth - the value of residential buildings and financial assets less outstanding debts - is...

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US New Jobs At Lowest Level For Nine Months

US Jobs Figures Are Deeply Worrying Updated: 4:04pm UK, Friday 05 April 2013 By Ed Conway, Economics Editor Americans are dropping out of the jobs market, and fast. That's the depressing takeaway from today's non-farm payroll report. The overall...

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Axminster Rescue To Save 100 Devon Jobs

By Mark Kleinman, City Editor One of Britain's oldest carpet-makers is to be rescued in a deal that will preserve about 100 jobs in the south-west of England. I understand that Axminster Carpets, which traces its roots back to 1755, will be bought...

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Cable 'Wants Investigation Into HBOS Life Bans'

An investigation is to be launched into whether the three former HBOS directors blamed for the banking group's collapse can be banned as company directors for life, it has been reported. The Business Secretary has asked his officials to see if there...

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