Cable Hits Back At Royal Mail Sale Critics

By Mark Kleinman, City Editor Vince Cable, the Business Secretary, has rebutted claims that he cost taxpayers hundreds of millions of pounds by undervaluing shares in Royal Mail, arguing that the price of the privatisation should be assessed only...

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Business Round-Up And Week Ahead

Sky's Naomi Kerbel offers a round-up of what's coming up in the week's business news. :: Monday October 21 Heathrow, the UK's busiest airport which also owns Southampton, Glasgow and Aberdeen airports reports its third quarter results on Monday. Formally...

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Energy Bills: Small Firms Challenge 'Big Six'

No10 In 'Wear A Jumper' Row Updated: 1:36am UK, Saturday 19 October 2013 Downing Street has been forced to backtrack after suggesting people struggling to pay their heating bills should put on a jumper. Officials had to issue a clarification after...

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Energy Bills: British Gas Ups Prices By 9.2%

British Gas has become the second major supplier of household energy to announce a rise in its prices - by an average 9.2%. The company said its electricity and gas prices will rise by 10.4% and 8.4% respectively from November 23 - affecting 7.8 million...

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China Economy Rebounds In Third Quarter

China has said its economic growth was on track in the third quarter, potentially easing pressure for more stimulus. The world's second-largest economy grew by 7.8% over a year earlier in the three months to the end of September - up from a two-decade...

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Housing: Help To Buy Fails To Dent Rent Costs

Private rents have reached a new record high despite Government efforts to make it easier for people to jump onto the housing ladder. According to LSL Property Services, which owns the Your Move and Reeds Rains chains, rents across England and Wales...

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Osborne Signs Nuclear Power Deal With China

By Mark Stone, China Correspondent, Taishan, Southern China Britain's next generation of nuclear power is almost certain to be funded in part by the Chinese following an agreement between governments and operators in the UK and China. The announcement...

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Prince Charles Warns Of Pensions Crisis

The Prince of Wales has warned the pensions industry to ditch its short-term outlook or risk condemning many to a "miserable future". Prince Charles told investors they had a responsibility to create a sustainable financial system during the economic...

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Furniture Sales Soar As House Market Recovers

Retail sales rose more strongly than expected in September as the recovery in the housing market boosted demand for furniture. The Office for National Statistics (ONS) reported a 0.6% increase in sales volumes on the month to take growth to 2.2% compared...

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Employment: Jobless Benefit Claims Tumble

The number of people claiming jobless benefits saw its biggest monthly fall since June 1997 in September. The Office for National Statistics (ONS) measured a drop of 41,700 in the number of Jobseeker's Allowance claims in September following a revised...

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Grangemouth Oil Refinery Strike Called Off

A planned strike at the Grangemouth oil refinery has been called off - ending the prospect of big fuel shortages in Scotland. The decision was announced by the Unite union following talks through the night with the site's owners Ineos at the conciliation...

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US Default Threat Prompts Downgrade Warning

The credit rating agency Fitch has warned it is reviewing the US government's AAA credit rating for a possible downgrade, citing the impasse in Washington that has raised the threat of a default on the nation's debt. Fitch placed the US credit rating...

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Immigration: Brit Workers 'Against The World'

By Ed Conway, Economics Editor Immigration is changing Britain. This is not merely a theory - it's statistical fact. Back in 2004, less than a decade ago, one in 11 of those living in Britain were born abroad. Today the proportion is one in eight...

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Burberry Boss Angela Ahrendts To Join Apple

Burberry has confirmed its respected chief executive Angela Ahrendts is to leave the luxury goods firm next year to join Apple. The company confirmed she would be replaced by chief creative officer Christopher Bailey by mid-2014 and that Bailey would...

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Royal Mail: Value Climbs As Dealing Starts

Royal Mail's value continued to grow when full dealing began on the London Stock Exchange on Tuesday morning though some individuals expressed frustration they were unable to sell. Investors - lured by the promise of healthy dividends - sought out shares...

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UK To Relax Visa Rules For Chinese Nationals

Visa rules for Chinese nationals coming to Britain are being relaxed by the Government in a drive to boost visitor numbers. Chancellor George Osborne, who is leading a UK trade delegation to China, said the changes will "streamline and simplify" the...

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US Shutdown: Lagarde Issues Recession Warning

The head of the International Monetary Fund has warned failure to break the political stalemate over raising the US debt ceiling risks tipping the world into recession. Christine Lagarde was speaking as there were few signs in Washington that solutions...

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Banks Defend Charges From 'Rip-Off' Claim

Banks insist they are offering clear and simple charges amid research claiming their fees for going overdrawn can be as expensive as those imposed by payday lenders. Research by Which? found that people can rack up "sky high" default charges if they...

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London Battles For Slice Of £5bn ISS Float

By Mark Kleinman, City Editor London is facing a battle to secure a slice of one of the biggest stock market listings anticipated next year as its owners step up preparations for a £5bn flotation. Sky News understands that the private equity groups...

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Unemployed Migrants: '600,000 Living In UK'

More than 600,000 unemployed migrants from across the European Union are living in the UK, according to a survey. The 291-page report - commissioned by the Brussels commissioner for employment and social inclusion, Laszlo Andor - found...

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Boris And Osborne Make Chinese Trade Visits

By Mark Stone, China Correspondent in Beijing The Chancellor and the Mayor of London have arrived in Beijing on separate trade visits to China. Both George Osborne and Boris Johnson will spend a week in the country, promoting British business but...

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