Sofa Giant DFS Gets Comfortable With £1bn IPO

By Mark Kleinman, City Editor The furniture retailer DFS has drafted in bankers to prepare for a £1bn stock market listing later this year, Sky News has learnt. Advent International, the private equity firm which owns DFS, has appointed UBS to...

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Demand For Real Butter Is Spreading

By Vicki Hawthorne, Sky News Ireland Correspondent The demand for real butter is increasing according to the latest sales figures for the product. In the last five years sales of butter have risen 7% in the UK, while margarine sales have dropped...

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Lloyds Sets Target For Women Executives

By Mark Kleinman, City Editor Lloyds Banking Group is to break new ground in the debate about gender diversity in British business by pledging that 40% of its top 5,000 jobs will be occupied by women within six years. Sky News can reveal this weekend...

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Living Standards 'Will Not Recover By 2015'

Living standards are unlikely to have recovered to their pre-crash levels by the general election in 2015, a think tank has warned. The Institute for Fiscal Studies (IFS) said that while the fall in household incomes has now probably come to a halt,...

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Sellafield Nuclear Workers Told To Stay Home

Non-essential staff at the Sellafield nuclear site in Cumbria have been asked to stay at home due to elevated radiation levels. The cause of the higher reading is being investigated. A statement said: "As a result of a conservative and prudent decision,...

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Online Hotel Booking Prices Face 'Overhaul'

Wider online hotel booking discounts are to offered to consumers, after an investigation by the Office for Fair Trading (OFT). The announcement comes after the regulator investigated competition concerns that two large online travel agents (OTAs) had...

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Sainsbury's Shares Drop As Justin King Quits

What Has Justin King Done As CEO? Updated: 11:17am UK, Wednesday 29 January 2014 The outgoing chief executive of Sainsbury's, Justin King, has been credited with turning the retailer around during the last 10 years, with an impressive list of achievements...

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Google Sells Motorola To Lenovo For $2.9bn

Google has announced it is selling its Motorola Mobility smartphone business to Lenovo in a $2.9bn (£1.75bn) deal. The technology firm bought the company less than two years ago for $12.5bn (£7.54bn) as a way of boosting its Android operating system....

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Product Growth Helps BSkyB Beat Forecasts

Strong growth in on-demand and home communication products helped BSkyB beat City forecasts despite growing competition for pay-television viewers, the company said. Reporting results for the six months to the end of December, BSkyB said that adjusted...

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Report: Average House Price Up 8.8% In 2013

UK house prices climbed by an annual rate of 8.8% in January, extending the fastest pace of increase since 2010. According to the Nationwide, values were up in January by 0.7% month-on-month, making the average home worth £176,491. The high street...

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Economy Grows At Fastest Rate Since Crash

The British gross domestic product (GDP) figure for the fourth quarter of 2013 stood at 0.7%, with growth for the full year reaching 1.9%. Output for 2013 reached its fastest annual rate of growth for six years, according to the Office for National...

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Nintendo Profit Plunges 30% On Wii Woes

Japanese games manufacturer Nintendo has seen its nine-month profit plunge by 30%, prompting its boss to cut his pay in half. The slump was blamed on poor sales of the Wii U console as gamers flock to the Microsoft Xbox One and Sony PlayStation 4. ...

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Lloyds Banking Group 'Sorry' Over IT Glitch

Lloyds Banking Group has apologised after customers were unable to withdraw money from cashpoints or pay for goods with their debit cards. The group - made up of Lloyds, Halifax, Bank of Scotland and TSB - has 30 million UK account holders, and...

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US Giant AT&T Downs Tools On Vodafone Offer

By Mark Kleinman, City Editor The US telecoms giant AT&T has said that it did not intend to lodge a takeover bid for Vodafone, just days after meeting European regulators to discuss the move. In a statement issued at the request of the UK Takeover...

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Business Bosses Slam Labour's 50p Tax Rate

A group of senior business leaders has written an open letter criticising Labour's plan to raise the top rate of tax. Shadow chancellor Ed Balls on Saturday confirmed his party would restore the 50p tax rate if it gets into power at the next general...

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Nestlé Chair Warns Over UK Exit From Europe

By Mark Kleinman, City Editor, in Davos The consumer goods giant Nestle would be forced to re-evaluate the extent of its presence in the UK if Britain decided to leave the European Union, its chairman has told Sky News. In an interview during the...

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Non-EU Banks Slip Through Bonus Cap Loophole

By Mark Kleinman, City Editor in Davos Major global banks such as Morgan Stanley and Nomura are benefiting from a loophole in new European pay rules that could leave British rivals at a big disadvantage. Sky News understands that banks based outside...

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AT&T Courts Europe Over £60bn Vodafone Bid

By Mark Kleinman, City Editor, in Davos US telecoms giant AT&T is courting European regulators as it accelerates work on a possible £60bn takeover bid for Vodafone. Sky News has learnt that Randall Stephenson, AT&T's chairman and chief...

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