City News

Barclays chief executive Antony Jenkins has warned of a 'lost generation' with no basic people skills

'Lost generation' lack work skills

A "lost generation" of young people are turning up for interviews lacking basic people skills such as maintaining eye contact, according to a senior business leader.

Call for oil industry tax cuts

Further exploration and investment in the North Sea is only going to be made by operators with "substantial tax reductions", Scotland's First Minister has said.

Plea to limit stolen mobile fees

A consumer group has called on mobile phone providers to do more to protect customers who face huge bills if their handset is lost or stolen.

1.8 million sign up to Paym service

Nearly two million people have registered to receive payments under the Paym scheme, which has the potential to eventually link up every current account in the country with a phone number, new figures released by the service show.

First Milk reassurance over crisis

First Milk is a co-operative owned by British farmers

The UK's largest diary firm reassured farmers today that the financial crisis which led to it delaying a £10 million payment earlier this month is over.

US GDP growth slower than UK

US gross domestic product (GDP) rose by 2.4 per cent in 2014, figures show (AP)

The UK's claim to be the fastest growing major economy last year was today cemented by official figures confirming that US gross domestic product (GDP) rose by 2.4% in 2014.

Ex-Bank chief tells of 'scary time'

A former deputy governor of the Bank of England has described the global financial crisis that brought economies to the brink of collapse as a "very scary time".

PPI claim time limit considered

The City watchdog is considering whether to introduce a time limit on complaints for one of the country's biggest and longest running insurance scandals.

BT pensions deficit rises to £7bn

BT has revealed its pension deficit has swollen to £7 billion, prompting boss Gavin Patterson to deny that it will handicap the group's sporting ambitions as it limbers up for the latest Premier League TV rights auction.

Qatar snaps up 10% stake in IAG

Qatar Airways and the owner of British Airways have vowed to strengthen ties after the Gulf carrier snapped up a 10% stake in its European counterpart.

Big-spending Amazon surprises City

Online retailer Amazon's fourth-quarter profit has filled investors' orders (AP)

Amazon has notched up a Prime fourth quarter, surprising investors with a profit that soundly beat expectations, despite a continued increase in spending and a slight sales miss, partly linked to the strong dollar.

House-building creating jobs boom

A surge in house-building has created thousands of jobs

More than 100,000 jobs have been created over the past two years through a surge in house-building, with thousands more workers needed to meet the demand for homes, according to a new report.

Aer Lingus 'does not need takeover'

Aer Lingus does not need a takeover, TDs heard

A takeover of Aer Lingus by the owner of British Airways would put money in the pockets of top managers while threatening Ireland's economic future, a parliamentary watchdog has been warned.

Unfair supermarkets face huge fines

Business Secretary Vince Cable said this will give the Groceries Code Adjudicator the power it needs to address disputes between supermarkets and suppliers

Supermarkets face fines of up to 1% of their annual UK turnover if they do not treat their suppliers fairly under new measures laid in Parliament.

Energy profit 'up to £114 per home'

The estimated profit is 9% of the average dual-fuel bill

Energy companies stand to increase their profits to £114 per household over the next year, even after cutting tariffs in response to dramatic falls in wholesale prices.

Monarch on course for profit return

Monarch Airways is in the process of turning itself into a short-haul airline

European airline Monarch said it is on course to return to profit this year following a rescue package of more than £100 million and hundreds of redundancies.

Sky to launch mobile phone service

Sky has been in talks for some time to use the O2 network to operate a mobile service

Sky is to enter the mobile phone sector next year in a partnership with O2 operator Telefonica, in the latest of a series of deals and takeovers shaking up the industry.

Robust sales boost retail sector

Analysts said falling oil prices and low inflation had led to shoppers having more money to spend

Retailers have kicked off the new year in robust fashion after a rebound in fortunes for clothing stores, figures from the CBI showed today.

Shell puts pressure on FTSE 100

The FTSE 100 Index was 13 points lower at 6812

Shares in Royal Dutch Shell weighed on the FTSE 100 Index today after the oil giant's annual results came in below City expectations.