Current Account Switching Up In New Scheme

A growing number of consumers have taken advantage of a new regime making it easier to switch banks. More than 600,000 current account customers moved to new providers in the last six months, since the week-long switch guarantee was launched. The number...

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Wet February Wipes £270m From Building Sector

Woolly weather in February caused a sharp decline in UK construction, wiping more than a quarter of a billion pounds from the sector. The Office for National Statistics (ONS) said output fell to £5.8bn, down 2.8% from January. Output is defined as...

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Co-op Bank In Record £1.3bn Annual Loss

The struggling Co-operative Bank has reported a pre-tax annual loss of £1.3bn and said it would not return to profit for at least two years. The bank also confirmed it would not make £4.97m deferred annual bonuses to its former bosses. Chief executive...

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M&S Finally Arrests Fall In Clothing Sales

Marks & Spencer has confirmed it avoided an eleventh-consecutive quarter of declining clothing sales amid intense turnaround efforts. In its results for the 13 weeks to 29 March, the retailer stripped its clothing sales away from General Merchandise...

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British Gas Business To Pay £5.6m Penalty

Ofgem has fined the arm of British Gas which serves business customers for a series of failures including blocking firms from switching to other suppliers. The energy regulator said British Gas Business would pay a total penalty of £5.6m. It said £800,000...

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Athens Bomb Fails To Dent Greek Bond Sale

Greece is tapping the bond markets for the first time since its bailout in 2010 as deep anger remains over severe austerity in the debt-ridden nation. A bomb blast outside a Bank of Greece building preceded the sale. The device detonated in a car before...

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IMF Sees UK Growth Remaining Fastest In G7

By Ed Conway, Economics Editor, In Washington DC The International Monetary Fund (IMF) has raised its forecast for Britain's economic growth more than any other major economy for the third time in a row, in a boost to the Chancellor's fortunes....

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Toyota In Global Recall Of 6 Million Vehicles

Toyota has issued a global recall of millions of vehicles because of safety issues. The Japanese company said the announcement covers three issues affecting RAV4, Hilux, Yaris and Urban Cruiser models. A total of 35,124 UK-registered vehicles are affected...

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Wonga Advert Banned By Watchdog As Misleading

A television advertisement for payday loan firm Wonga has been banned by the advertising watchdog. The Advertising Standards Authority (ASA) ruled that it led to confusion about interest rates charged by the firm. The ASA received 31 complaints about...

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Samsung Pins Profit Hopes On New Galaxy S5

Samsung Electronics has admitted it is expecting to confirm its second consecutive quarter of declining profits, just days ahead of the global launch of its new smartphone. The South Korean firm estimated its January-March operating profit at $7.96bn...

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Top Locations Named But How Does London Fare?

Paris, New York and Prague are among the glamour capitals pipped to the post by London as a favourite traveller destination. The UK capital is placed third in the global rankings compiled by TripAdvisor from millions of reviews, with only Istanbul and...

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Firms 'Need Migrants Amid Skills Shortage'

A lack of skills among the UK's long-term unemployed means the Government must consider easing visa restrictions for migrant workers, according to a jobs study. The call was made by the Recruitment and Employment Confederation (REC) as two reports on...

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Energy Complaints Soar By Staggering 224%

Complaints about energy companies have trebled in the first quarter of this year, according to the energy sector's ombudsman who is calling for "increased transparency". The record figures showing a 224% rise in the first three months of this year come...

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Unions Bid To Halt Rail Franchise Awards

Rail unions have launched legal action against the Government over the way it is going ahead with the awarding of three rail franchises. The Rail, Maritime and Transport (RMT) union, Aslef and the Transport Salaried Staffs Association (TSSA) want...

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Benefits At Risk Unless Jobseekers Make Effort

By Siobhan Robbins, News Correspondent Jobseekers will soon have to prove they are taking steps to make themselves more employable or face losing some of their benefits. From April 28, those looking for work will be expected to have written a CV,...

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House Of Fraser Bought By Chinese Tycoon

A Chinese tycoon has bought British high street chain the House of Fraser, according to sources. Reuters said a 89% stake was bought by Sanpower, a Nanjing-based conglomerate controlled by Yafei Yuan. Sources have told Sky News an announcement is expected...

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Microsoft XP And Office 2003 Security Warning

Britain's data protection watchdog has warned owners of Microsoft's Windows XP and Office 2003 products of future potential security flaws. The warning from the Information Commissioner's Office (ICO) comes as the software giant is set to end official...

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Food Waste 'Is Morally Repugnant', Say Lords

The scale of food waste, which sees 15 million tonnes of food dumped each year in the UK and at least 90 million tonnes across the EU, has been branded "morally repugnant" by a House of Lords committee. The Lords EU Committee said supermarkets should...

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