EDF Energy To Pay £3m Complaints Penalty

EDF Energy is the latest of the so-called "Big Six" suppliers to be slapped with a penalty for market failures. The regulator Ofgem said it had agreed to pay £3m to benefit vulnerable customers after its investigation found that the company...

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Current Account Exodus At Troubled Co-op Bank

The troubled Co-op Bank has revealed it lost almost 30,000 current account customers in the first half of its financial year. The bank, which was forced to raise almost £2bn to plug a capital black hole last year, reported significantly lower losses...

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Draghi: ECB Ready To Spur On Euro Economy

The boss of the European Central Bank (ECB) has revealed it is ready to do more to boost a shaky recovery in Europe. But Mario Draghi warned EU member governments they must still join in efforts to reduce unemployment, which remains stubbornly high....

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Housebuilder Persimmon Profit Jumps 57%

Housebuilder Persimmon has seen its pre-tax profit jump by 57% in the first half of the year. The company said underlying profit reached £212.9m in the six months to the end of June. Revenue in the period was also up 33% to £1.2bn and it said sale...

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Inflation Drops More Than Expected In July

The two measures of UK inflation have dropped more than expected, in the year until the end of July. According to official data, the Retail Prices Index (RPI) stood at 2.5% and the Consumer Prices Index (CPI) was 1.6%. Economists had expected a CPI...

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Ukraine: 15 Bodies Found After Refugee Attack

Fifteen bodies have been recovered from the site of a rocket strike on a refugee convoy in Ukraine, a military spokesman has said. The convoy of buses and cars was understood to have been evacuating civilians from the towns of Svitlivka and Khrashchuvate,...

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Lastminute Owner Eyes Sale Of UK Dotcom Icon

By Mark Kleinman, City Editor Lastminute.com, one of the icons of the original dotcom boom, is being put up for sale nearly a decade after its takeover by an American technology giant. Sky News has learnt that Sabre Holdings, which is listed in...

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Wall Street Giants Swoop On Sub-Prime Lender

By Mark Kleinman, City Editor Two giants of Wall Street are in advanced talks to acquire Kensington, one of the UK's biggest sub-prime mortgage lenders. Sky News has learnt that divisions of Blackstone and TPG, the US-based private equity groups,...

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Nationwide Profit Rockets In Housing Surge

High street lender Nationwide has seen underlying profit more than double in the three months to the end of June. First quarter profit for the building society reached £263m, up 117% on the same period last year. Statutory profit was up 141%, to £253m...

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UK Growth Hits Fastest Annual Pace Since 2007

The annual rate of UK economic growth has been revised upwards to 3.2% - its fastest pace since the end of 2007. The announcement was made by the Office for National Statistics (ONS) as it confirmed GDP growth of 0.8% in the second quarter of the year....

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New Rules To Boost Home-Based Businesses

Entrepreneurs will have more freedom to begin a business from home under new measures to be announced by the Government. They include legislation which will make it simpler to run a company from a rented property and new guidance on business rates....

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Lastminute Owner Eyes Sale Of UK Dotcom Icon

By Mark Kleinman, City Editor Lastminute.com, one of the icons of the original dotcom boom, is being put up for sale nearly a decade after its takeover by an American technology giant. Sky News has learnt that Sabre Holdings, which is listed in...

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