City News

BA owner IAG hails 'solid progress'

British Airways owner International Airlines Group (IAG) said its carriers had beaten a stay-at-home World Cup effect to enjoy their best quarter since the financial crisis.

RBS reiterates independence warning

Royal Bank of Scotland has repeated its warning of a "material adverse effect" on its business if Scots vote in favour of independence next month.

Broadband customers 'held captive'

Broadband customers are being "punished" with average cancellation fees of £190 to escape unsuitable or sub-standard contracts, a consumer group has claimed.

Rolls-Royce targets profit revival

Rolls-Royce has promised a significant improvement in its performance after "growing pains" caused half-year profits to drop by a fifth.

Carillion mulls Balfour options

Carillion is weighing up its next move after potential merger partner Balfour Beatty walked away from talks to create a new FTSE 100 construction giant.

£1.5m damages for tycoon over probe

Tycoon Robert Tchenquiz is to receive £1.5 million in damages after he settled his claims against the Serious Fraud Office (SFO) following a botched investigation.

Average house price hits new record

House prices increased to another new all-time high of £188,949 on average in July but the pace of growth is slowing, Nationwide has reported.

Centrica questions Ofgem's claims

British Gas owner Centrica showed little sign of cutting energy tariffs today as profits fell and it hit back at Ofgem over "deficiencies" in analysis suggesting household margins were set to double.

Lloyds hit by £600m PPI bill

Lloyds Banking Group continued to count the cost of past misdemeanours today after taking a further £1.1 billion hit from "legacy issues" in the year to date.

Revamped New Street to open 2015

An artist impression of how the the revamp to Birmingham New Street station will look when it is completed next September (Network Rail/PA)

A multimillion-pound project to revamp Birmingham New Street station will be completed by next September, Network Rail has said.

Children 'given biggest bedroom'

Some 31 per cent of adults living with children under the age of 18 said they have squeezed into a smaller room to give their offspring more space

Almost one in three parents have sacrificed the biggest bedroom in the house to their children, according to a study into "space-starved" families.

US stocks enjoy mixed fortunes

US stocks saw little movement despite new figures showing good economic news

US stocks are closing mixed after the Federal Reserve said the economy was strengthening enough for the central bank to continue cutting its stimulus.

ITV hails ad momentum

ITV profits rose 16% to £312 million in the first six months of the year.

ITV kept up its momentum today after a strong World Cup for the broadcaster boosted advertising revenues by 7% in the first half of the year.

Greggs on a roll as profits rise

Greggs said it has been encouraged by recent sales initiatives as underlying profits rose 48% for the first six months of the year.

Pasty and sausage roll maker Greggs boosted profits today as the firm benefited from the launch of low-fat sandwiches and a new coffee blend.

Barclays reveals 7% profits slide

The bank revealed it has taken another hit to cover PPI claims

Barclays took a fresh £900 million hit to cover payment protection insurance (PPI) claims as it revealed a 7% slide in first-half profits today.

Flipkart set for Amazon battle

Flipkart is gearing up for competition in India from Amazon

India's largest online e-commerce company, Flipkart, has raised one billion dollars (£589 million) in new capital as the company gears up for competition with Amazon's push into the Indian market.

Home power bills to be cut by £12

Energy watchdog Ofgem said the move followed around two billion pounds of savings in the sector

Households are set to see £12 a year cut from bills after the energy regulator announced plans to curb the spending of power network operators.

Results send Twitter stock soaring

Stronger financial results gave Twitter's stock a surge with its second quarter revenue more than doubling

Stronger-than-expected financial results has pushed Twitter's stock sharply higher after the short messaging service said its revenue more than doubled in the second quarter.

Biotech giant axes up to 2,900 jobs

Biotech drug giant Amgen is to shed up to 2,900 jobs worldwide (AP)

Biologic drug-maker Amgen is to shed 12 to 15% of its worldwide workforce and close four sites, despite reporting stellar second-quarter results that trounced Wall Street expectations.