City News

Marks & Spencer is expected to notch up a 15th consecutive quarter of falling sales in its clothing division

Clothing sales in spotlight at M&S

Marks & Spencer's latest performance will be in focus this week as sales in its troubled clothing division come under further scrutiny - while travel agent Thomas Cook and B&Q owner Kingfisher are also due to update the City on progress.

Ewing hails oil sector expertise

There are still "huge opportunities" in the oil and gas industry despite the "significant challenges" facing the sector, Scotland's energy minister has said.

Pension changes 'may unlock £140bn'

Up to £140 billion of savings could be released when millions of over 55-year-olds are allowed to cash in their pension pots from next month, ministers have said.

Jobs to go at Rolls-Royce plants

More than 200 jobs are being cut at Rolls-Royce plants in Scotland under plans by the engineering giant for a worldwide cutback.

Clothing sales in spotlight at M&S

Marks & Spencer is expected to notch up a 15th consecutive quarter of falling sales in its clothing division

Marks & Spencer's latest performance will be in focus this week as sales in its troubled clothing division come under further scrutiny - while travel agent Thomas Cook and B&Q owner Kingfisher are also due to update the City on progress.

£20m rise in online banking fraud

Figures from Financial Fraud Action UK showed that £60.4 million was lost in 2014 due to online banking fraud

Online banking fraud losses have surged by nearly £20 million or 48% over the last year, prompting a warning to consumers to download anti-virus software and beware of conmen trying to trick them into revealing their personal details.

RBS to sell Coutts' overseas arm

RBS has agreed the sale of the international arm of Coutts

State-backed Royal Bank of Scotland has agreed the sale of the international arm of the Queen's bank Coutts as part of its plan to focus on its UK operations.

Commodities drag FTSE 100 lower

The FTSE was 40.3 points lower at 6855

London's top-flight fell for the fourth day in a row as disappointing economic data from China dragged on commodity stocks though oil prices stabilised.

Co-op 'stronger' but 'much to do'

Pre-tax losses at the Co-operative Bank fell to £264.2 million in 2014 from £632.8 million the year before

The head of the Co-operative Bank said the troubled lender still had "much to do" as its annual losses narrowed but it warned of more job losses and dozens of branch closures to come this year.

MPs criticise head of City watchdog

Martin Wheatley has come under fire from MPs

The head of the Financial Conduct Authority (FCA) has been personally criticised in a damning report by MPs into its bungled handling of the announcement of an insurance industry investigation last year.

Home affordability 'at 2009 levels'

Oxford topped the "unaffordability" list, research from Lloyds revealed

The cost of a typical home in a UK city is at its most unaffordable level since 2009 as buyers face stretching their wages further to keep up with rising property prices, a report has found.

MPs 'highly critical' of scheme

A database containing the names of over 3,000 construction workers and environmental activists was seized previously

Construction companies have been accused of an "act of bad faith" and of "misleading" MPs over a compensation scheme for blacklisted workers.

Windfall for ex-Centrica chief

Sam Laidlaw is expected to give some of his money to worthy causes

The former head of British Gas owner Centrica saw his total pay package rise 52% to £3.4 million for 2014 despite the group tumbling to a £1.4 billion loss and slashing the dividend for its army of small shareholders.

Warning on energy profit margins

Falling wholesale gas prices will increase profit margins for energy firms, Ofgem has claimed

Britain's Big Six energy firms stand to make increasing profit margins from households amid falling wholesale gas and electricity prices, according to analysis by regulator Ofgem.

Clothing sector competition probe

The CMA said "no assumption should be made that there has been an infringement of competition law" in clothing retail

The Competition and Markets Authority has opened an investigation into "suspected anti-competitive arrangements" in the UK clothing, footwear and fashion sector.