Co-op Group Stake In Its Bank 'Falls To 20%'

Charting The Crisis At The Co-op Updated: 11:05am UK, Tuesday 11 March 2014 The Co-operative grew from a small shop in Lancashire in the 19th century to a worldwide movement but the future of the modern day Group began to be threatened by a crisis...

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Amazon Paid £10m Tax On £4.3bn UK Sales

Online retailer Amazon paid a UK corporation tax bill of £10m last year, despite sales in Britain reaching £4.3bn, it has been revealed. Amazon.co.uk saw a 56% rise in profit to £17m during 2013, along with a 13% rise in UK revenue. The company reports...

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The Week's Big Business Stories

Yo! Sushi Exploring Sale Options Updated: 2:25pm UK, Wednesday 07 May 2014 Yo! Sushi's executive chairman Robin Rowland has told Sky News that the restaurant chain has appointed advisors for a sale. From the four restaurants the Japanese chain had...

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BA Owner IAG Stems First Quarter Loss

The owner of British Airways and Iberia said it has reduced first quarter losses through improved performance and cost-cutting. International Airlines Group (IAG) said losses before exceptional items stood at €150m (£123m) in the three months to the...

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Powers To Seize Unpaid Tax Criticised By MPs

Plans to give HM Revenue and Customs (HMRC) the power to seize money directly from the bank accounts of those who owe the taxman money have been criticised by an influential group of MPs. The Treasury Committee said it has "considerable concern" about...

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Co-op Group Stake In Its Bank 'Falls To 20%'

Charting The Crisis At The Co-op Updated: 11:05am UK, Tuesday 11 March 2014 The Co-operative grew from a small shop in Lancashire in the 19th century to a worldwide movement but the future of the modern day Group began to be threatened by a crisis...

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British Gas: Mild Winter Squeezed Profits

The owner of British Gas has confirmed it does not plan to raise household bills this year, despite the mild winter hitting profits. Centrica reduced its 2014 earnings outlook in a trading update - saying the average British Gas residential energy bill...

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Barclays: 20,000 Job Cuts In New Strategy

Barclays has confirmed around 20,000 job cuts under a new strategy building on its aim to become the 'go-to' bank. The details - as reported by Sky's City Editor Mark Kleinman on Wednesday evening - were revealed following a review which aimed...

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Morrisons Reports 7.1% Plunge In Sales

Morrisons has reported a huge fall in sales - a day after its share price took a hit of more than 5% on the FTSE 100. Like-for-like sales excluding fuel tumbled 7.1% in the 13 weeks to May 4. The fall extended to 8.2% when fuel sales were included....

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Sainsbury's Posts Slowest Growth For A Decade

The pressure on the major supermarket chains from discounters were underlined by Sainsbury's annual results which showed the slowest profits growth for a decade. Underlying profit before tax at the chain rose 5.3% to £798m in the year to March 15 though like-for-like...

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Alibaba Confirms New York Share Sale Plans

Chinese online powerhouse Alibaba, which makes more money than Amazon and eBay combined, has filed for a public share sale in the United States. The flotation of the company, which incorporates a search engine, online shops and payment service platforms,...

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Co-op Reform Critics Must Back Overhaul: Myners

Former City minister Lord Myners has warned the Co-operative Group will not survive unless members get behind his recommendations for reforming its governance structure. His review's findings - which include the abolition of the group's 21-member board...

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Balfour Beatty Boss Quits On Profit Warning

The boss of infrastructure firm Balfour Beatty has resigned amid a profit warning that centred on the performance of its UK construction business. Andrew McNaughton quit with immediate effect after a £30m shortfall was discovered in the UK operation...

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Barclays Investment Bank Drags On Profits

Barclays has reported a 5% fall in adjusted pre-tax profits for its first quarter, dragged down by a 28% drop in income at its investment bank. It confirmed profits of almost £1.7bn as its Fixed Income, Currencies and Commodities (FICC) operation, contained...

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Tesco To Launch Smartphone By Year's End

Tesco has confirmed plans to launch its first own-brand smartphone. The retailer said the phone would be available by the end of the year and run on Google's Android software. The model would also be pre-installed with Tesco services, including Tesco Bank...

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Animal Testing Campaign Causing Industry Crisis

By Joe Tidy, Sky News Reporter An international campaign to get airlines to stop transporting monkeys for drugs testing is causing a crisis in the research industry. Every year more than 2,000 monkeys are flown to Britain to be tested on in over...

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Miliband Urges Caution On Pfizer Takeover Bid

AstraZeneca: The Key Statistics Updated: 11:23am UK, Friday 02 May 2014 American pharmaceutical giant Pfizer, which makes Viagra, has until May 26 to confirm its intentions in what could be Britain's biggest ever takeover. Here are some key statistics...

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Royal Mail Plots Bond Issue As Row Rages On

By Mark Kleinman, City Editor Royal Mail is weighing a move into the bond markets to raise hundreds of millions of pounds even as the row over the postal operator's privatisation looks set to continue. Sky News understands that the company has...

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Samsung Told To Pay Apple $119m In Patent Row

Samsung has been ordered to pay $119.46m (£70m) in damages to Apple after the South Korean company was found guilty of violating two patents on smartphone features. In the latest lawsuit involving the two tech giants, a jury in a federal court in San...

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US Jobless Drops To Lowest Rate Since 2008

The jobless rate in the United States fell to 6.3% in April, its lowest level since September 2008. A total of 288,000 new jobs were created last month, more than a third up on the figure forecast by economists. The Labor Department said job creation...

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Ex-Trade Minister Queries Pfizer Bid Pledges

By Mark Kleinman, City Editor The trade minister in the last Labour government has questioned the integrity of a pledge by Pfizer to protect British jobs if it acquires AstraZeneca and suggested that a dedicated panel should be established to rule...

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