Buying A House 'Cheaper Than Renting'

Home buyers are almost £900 better off a year than those who rent - but an upturn in house prices means the gap has narrowed in recent months, a report has found. Research by Halifax, which based its calculations on its own database as well as official...

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BlackBerry Slashes Jobs In Face Of $1bn Loss

BlackBerry has confirmed it will cut 40% its global workforce as it said it expects to report that it has lost almost $1bn in its second quarter. The smartphone company said it will lay off 4,500 employees as it tries to slash costs by 50% and shift...

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Barclays £1.3m Cyber Raid: Four Due In Court

Four alleged cyber plotters accused of stealing £1.3m from a high street bank by taking control of its computer system are due to apear in court later. It follows the arrest of eight men suspected of targeting a branch of Barclays bank in Swiss Cottage,...

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Housing Market: Rental Costs Near Record

The effect of rising house prices on the rental market is laid bare today as a report suggests private rents are just £1 short of record highs. The lettings network LSL Property Services said rents had reached their second highest level since 2008 -...

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Bra Price-Fixing Probe Launched By Watchdog

The country's biggest department store chains are facing investigation over suggestions they colluded with a bra manufacturer to fix prices. The Office of Fair Trading (OFT) alleged that the manufacturer of the Shock-Absorber range, DB Apparel UK, entered...

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Barclays Cyber Raid: Arrests Over Stolen £1.3m

Eight men have been arrested after a gang stole more than £1m from a high street bank by taking control of one of its computer systems. The money was stolen from a Barclays branch in Swiss Cottage, London, earlier this year, using a device known as...

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City Watchdog Hits JPMorgan With Huge Fine

By Mark Kleinman, City Editor The City regulator will slap one of its biggest-ever fines on the Wall Street banking giant JPMorgan on Thursday over the derivatives losses which last year cost it more than $6bn (£3.7bn). Sky News understands that...

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Rip-Off Pensions: OFT Calls For Shake-Up

The Office of Fair Trading's (OFT) study of the £275bn defined contribution (DC) workplace pensions market has found some schemes offer no value for money. The trading watchdog, which decided not to refer the market to the Competition Commission or...

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Retail Sales Slow After July Heatwave

Consumers reined in their spending in August following July's heatwave which had boosted demand for food and sales of outdoor goods. The Office for National Statistics (ONS) said retail sales volumes tumbled by 0.9% on the month. Economists had expected...

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Retirement: One In Five Will 'Never Stop Work'

By Rhiannon Mills, Sky News Reporter One in five Britons now fear that they will never be able to stop working because of shortfalls in their pensions and savings, according to a new report. The survey, carried out by HSBC, warns that the UK is...

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Fed Decision On Stimulus Slowdown Looms

The Federal Reserve is expected to confirm later that it will start to wind down its massive stimulus effort that has pumped $2.8trn (£1.76trn) into the US economy. Quantitative easing, or QE for short, is credited with helping the US economy overcome...

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Bust-Up Erupts Over Ronson's City Skyscraper

By Mark Kleinman, City Editor One of the tallest buildings in the City of London is at the centre of a titanic power struggle following a bust-up between its shareholders. Sky News can reveal that bankers to the 46-storey Heron Tower on Bishopsgate,...

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Barclays To Pay Out £100m Over Loan Error

Barclays could have to pay out up to £100m to around 300,000 of its personal loan customers after making mistakes on their paperwork. The customers could be in line for a few hundred pounds each from the issue, which dates back to October 2008. A spokesman...

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Lloyds Stake Sale Raises £3.2bn For Taxpayer

The initial sale of taxpayer-owned shares in Lloyds Banking Group has raised £3.21bn for the Treasury - representing a small profit. UK Financial Investments (UKFI), the body which oversees the public's stakes in Lloyds and RBS following their bailouts,...

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Summer Discounting Helps Ease Inflation Rate

A dip in the annual rate of inflation is being credited to slowing fuel cost rises and summer discounting of Autumn clothing. The Office for National Statistics said the fall in the Consumer Price Index (CPI) measure from 2.8% in July to 2.7% in August...

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Bank Seven-Day Switch Scheme May Fall Flat

By Poppy Trowbridge, Business and Economics Correspondent The Government wants banks to work harder to win your business and is backing an initiative to allow customers to swap current accounts within seven working days. But exclusive research...

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Barclays Braced For Fine Over Qatar Deals

By Mark Kleinman, City Editor Barclays is braced for another major financial penalty over the deals that enabled it to escape British taxpayers' clutches by raising billions of pounds from private investors five years ago. Sky News has learnt that...

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Economy: Firms Demand Infrastructure Urgency

The CBI has launched a stinging attack on the Government, accusing the coalition of dragging its heels on delivering promised infrastructure spending to help lift the economy. The business lobby group said it feared there was a "lack of political will"...

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Vince Cable Calls For Minimum Wage Increase

Business Secretary Vince Cable is pressing for an increase in the minimum wage amid concerns that many lower-paid workers are still not benefiting from the burgeoning economic recovery. Speaking before the Liberal Democrat party conference in Glasgow...

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Bank Seven-Day Switch Scheme May Fall Flat

By Poppy Trowbridge, Business and Economics Correspondent The Government wants banks to work harder to win your business and is backing an initiative to allow customers to swap current accounts within seven working days. But exclusive research...

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Santander Bank Hacking Plot: Four In Court

Four men have appeared in court over an attempt to take control of computers at a Santander bank branch to steal millions of pounds. It is alleged one of the gang posed as an engineer to fit a computer at the branch in Surrey Quays shopping centre,...

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