US Jobless Rate At July 2008 Low Of 5.8%

The US jobless rate has hit its lowest level since July 2008, with the economy creating 214,000 net new jobs in October. The fall in the rate from 5.9% in September was unexpected - and highlighted some greater resilience in the labour market as more...

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Royal Mail In Stand-Off Over MPs' Inquiry

By Mark Kleinman, City Editor Royal Mail has been secretly resisting pressure from MPs for it to appear alongside rival postal operators as part of a new probe into competition in the industry. Sky News has learnt that Royal Mail made representations...

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PM Trying To 'Fool' Public Over EU Surcharge

The Prime Minister has been accused of "trying to take the British people for fools" for claiming the UK has managed to wrangle a 50% reduction on the £1.7bn EU surcharge. Chancellor George Osborne said Britain would now pay the European Union just...

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PM To Warn EU Leaders Over £1.7bn Demand

By Darren McCaffrey, Sky News Politics Reporter The scale and timetable of Britain's proposed £1.7bn extra contribution to the European Union is unacceptable, both David Cameron and George Osborne will tell EU leaders today. The Chancellor, who is...

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Canary Wharf Owner Rejects Takeover Proposal

The owner of Canary Wharf in London has rejected a takeover proposal that could have yielded the country's biggest property deal in years. Songbird Estates - the majority owner of the sprawling financial area, including the headquarters for HSBC and...

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Box Office Magic For Disney As Profits Surge

Walt Disney's movie releases have been credited with driving a surge in profits during the entertainment firm's fourth quarter. The success of animated tale Frozen and Marvel movie Guardians of the Galaxy helped revenue surpass expectations, rising...

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Petrol Price Guarantees Demanded By Treasury

A failure by petrol firms and supermarkets to pass on the full benefit of falling oil prices to customers filling up at the pumps would be an "outrage", a Cabinet Minister will warn. Treasury Chief Secretary Danny Alexander is to demand guarantees...

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Banking Industry Competition Probe Ordered

Regulators have ordered a full market inquiry into banks over fears the dominance of the largest lenders is stifling competition. The Competition and Markets Authority (CMA) said its investigation would scrutinise the personal current account...

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Morrisons Sales Slump 6.3% In Third Quarter

Morrisons has reported another big fall in sales as the supermarket sector scraps for market share amid the challenge from discounters. The grocer posted a 6.3% drop in like-for-like sales in its third quarter to 2 November - a figure that hit 8%...

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Primark Posts 'Magnificent' 30% Profit Rise

The chairman of Primark's owner has hailed a "magnificent" year for the discount clothing retailer, with profits rising 30% to £662m. Associated British Foods (ABF) said the performances of its fashion and grocery divisions offset the adverse...

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Holiday Pay Ruling Threatens Big Business Bill

By Poppy Trowbridge, Consumer Affairs Correspondent Businesses could face a big bill for backdated holiday pay if a ruling by the Employment Appeals Tribunal, the UK's top employment law court, goes against them. The cases before the tribunal involve...

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Virgin Money Flotation Is Back On Track

Virgin Money has confirmed it will go ahead with its stock market flotation, after postponing the listing last month. The challenger bank confirmed on Tuesday an earlier report by Sky News that it was now satisfied market conditions had settled amid...

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Ryanair Profit Soar 32% On Higher Fares

No-frills carrier Ryanair has seen half-year profit rise by a third, on the back of fare increases and being "nicer" to passengers. It said a 5% rise in ticket prices and 4% boost in seat loading were key factors behind the 32% rise in pre-tax profit,...

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Millions To Receive New Tax Payments Summary

Millions of taxpayers will receive a new annual tax payments summary from this week under a scheme introduced by Chancellor George Osborne. Some 16 million Pay As You Earn (PAYE) taxpayers will receive the summaries in the post, which set out exactly...

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Thousands To Benefit From Rise In Living Wage

By Katie Spencer, Sky News Reporter Around 35,000 people are set to benefit from a 20p rise in the UK living wage, but more than five million people are still earning below its hourly basic rate of £7.85. Care worker Perrine Roland told Sky News...

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RBS Grows Profit But Sets Aside Further £780m

Royal Bank of Scotland (RBS) has set aside a further £780m to cover the costs of conduct issues, including the PPI mis-selling scandal. The news was released alongside its third-quarter results which demonstrated that the bank's recovery was continuing...

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BBA: New Oversight Will Hurt Smaller Banks

By Mark Kleinman, City Editor Smaller lenders would be hit by new rules heralding the world's toughest oversight regime for senior bankers, according to the industry's main City-based lobbying groups. The warning is contained in a confidential paper...

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Energy Bills: UK Gas Prices Hit Record Low

UK wholesale gas prices have hit a record low, piling more pressure on energy firms to explain why household bills have not been slashed. The latest fall in raw costs - for November and December delivery - has resulted in a 23% fall over the year...

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