City News

Redrow profits surge to new high

Housebuilder Redrow said the market has returned to a more normal selling pattern after a year in which its profits jumped to a new record.

Payday loan debt problems soar

A charity says more can be done to protect those facing serious money worries from payday loans

The number of people struggling to cope with payday loan debts has risen by more than 13,000 in the past year, figures show.

Mayor raps 'Boris Island' rejection

An artist's impression of the proposed Thames Hub (Foster and Partners/PA)

London Mayor Boris Johnson has reacted with fury to a decision of the Government-appointed Airports Commission to reject the "Boris Island" Thames Estuary airport plan.

'Cash top-ups' for bosses' pensions

More than half of top company directors are now receiving cash instead of contributions to their pension schemes, according to a new study.

Trade deal 'worth £10bn a year'

Lord Livingston said markets would be opened by TTIP, so for example lamb and venison could be exported to the US

The Government has hit back at critics of a new trade deal, insisting it will create jobs, increase wages and boost the UK economy by £10 billion a year.

Barclays sells Spanish operation

Barclays chief executive Antony Jenkins has announced the sale of non-core retail banking operations in Spain.

Barclays is to sell the bulk of its operations in Spain after agreeing a deal worth £630 million with one of the country's biggest banks.

Mortgage approval rates steadier

The disruption to mortgage approvals caused by new lending rules is showing signs of evening out

The number of mortgage approvals made to home buyers has shown more signs of steadying following the disruption caused by new lending rules.

Manufacturing worst for 14 months

Manufacturing confidence is lower than expected

Manufacturers were "walking rather than running" in August as new figures today showed the sector endured its worst performance in 14 months.

Beijing chief faces Hong Kong wrath

Pro-democracy MP Lee Cheuk Yan is taken away by security guards (AP)

Hong Kong pro-democracy MPs have disrupted a top Beijing official's speech as he sought to explain a decision to curb voting reforms for the southern Chinese financial hub.

Manufacturers positive over growth

Growth in manufacturing has eased back to more moderate levels, but firms remain confident about the economic outlook, according to a new study.

Unions stage demo at Network Rail

Network Rail, which controls the country's rail infrastructure, has effectively become part of the public sector

Unions and campaigners are staging a protest outside Network Rail (NR) headquarters today to mark the day the company is effectively recognised as a nationalised public body by the Government.

IMF board backs probe-quiz Lagarde

The IMF says it has confidence in its managing director Christine Lagarde, who is facing questions in France amid a corruption probe

The International Monetary Fund has expressed confidence in managing director Christine Lagarde after receiving a briefing on a French corruption probe in which she is being investigated.

Overdraft fees 'too high or unfair'

Which? said almost 25,000 people had signed up to support its Stop Sneaky Fees and Charges campaign

About 2.5 million people have used an unauthorised overdraft in the last year and more than two thirds say the fees and charges are too high or unfair, a survey has found.

Fall in banks' customer complaints

Barclays said its complaints for the first half of 2014 were down by 26% compared with the first six months of 2013

Banks have seen large falls in customer complaints in the first half of this year in further signs that the payment protection insurance scandal has peaked.

Fall in North Sea tax receipts

HMRC figures show corporation tax revenues from the North Sea have fallen from 4.4 billion pounds in 2012-13 to 3.6 billion pounds in 2013-14

The Scottish independence campaign has received "a body blow" with new figures showing tax receipts from North Sea oil and gas have dropped by almost a fifth, Treasury Secretary Danny Alexander said.