City News

Shell defies oil price slump

Royal Dutch Shell showed signs it is riding out the " volatility" caused by falling oil prices today as it revealed a sharp jump in quarterly profits.

Sesame fined £1.6m over advice

The UK's largest network of financial advisers has been fined nearly £1.6 million by the City regulator for promoting its own commercial interests over those of its clients.

UKAR cuts loan burden by £1.6bn

The body behind failed lenders Northern Rock and Bradford and Bingley is making progress on repaying its taxpayer loans

The body behind failed lenders Northern Rock and Bradford & Bingley has repaid almost a quarter of its taxpayer loans, including £1.6 billion in the six months to September 30.

National Express on 'right track'

National Express saw profits rise 15% in the third quarter compared to last year

National Express has boosted quarterly profits after winning foreign contracts and carrying more passengers on its UK rail, coach and bus services.

BT squeezed in broadband battle

BT has invested heavily in TV football rights in its battle with Sky

BT said it had been squeezed by rivals in the cut-throat battle for broadband customers as it reported the lowest level of customer growth for two years.

Clydesdale and Yorkshire bank sale

The Clydesdale and Yorkshire banks are being readied for a stock market flotation after their Australian owner confirmed plans to exit UK banking.

House prices hit all-time high

House prices climbed to another all-time high in October after dipping slightly the previous month, Nationwide Building Society has reported.

Barclays reserves £500m for forex

Barclays is being investigated over the alleged rigging of foreign exchange markets

Barclays has put aside £500 million to settle foreign exchange rigging allegations as it finalises talks with global regulators investigating the scandal.

US Fed ends bond-buying programme

The US Federal Reservehas ended its landmark bond-buying programme

The US Federal Reserve cited an improving economy as it ended its landmark bond-buying programme and pointed to gains in the jobs market - a key condition for an eventual interest rate hike.

Most firms optimistic over growth

More than half of firms expect to increase their workforce in the next year, a survey found

More than half of firms expect to increase their workforce in the next year although many are worried that "burdensome" employment regulations could affect their business, according to a new report.

Private school graduates earn more

University graduates who were privately educated are likely to earn up to a fifth more than state-educated graduates, research claims

University graduates who attended private school earn thousands of pounds more on average than those who were state-educated, according to research.

CBI in call over future spending

The CBI report calls for web consultations between patients and GPs, an e-prescriptions system for smart phones

Rules stopping governments spending more than they earn on public services must be introduced once the deficit is wiped out, business leaders have recommended.

US stocks slip after Fed statement

The Dow Jones industrial average fell 31 points to 16,974

An optimistic statement from the US Federal Reserve sent the dollar up and gold prices down as traders prepared for rising interest rates.

Surge in payday loan fee complaints

A banking group has been taking hundreds of complaints a day from customers who are upset at being charged high and unexpected fees by payday loan middlemen.

SFO to probe Tesco over profits

Tesco faces a criminal investigation by the Serious Fraud Office following the discovery of a £263 million hole in its profit expectations

Tesco has formally been placed under criminal investigation by the Serious Fraud Office (SFO) following its discovery of a £263 million hole in profit expectations.

Yorkshire fined £4.1m over delays

Yorkshire Building Society has been fined 4.1 million pounds by the Financial Conduct Authority

A building society has been fined £4.1 million on top of the £8.4 million it is already paying to compensate mortgage customers who were poorly treated when they got into difficulties.

Aquila wins £1.5bn MoD contract

The programme will involve a 400 million pounds investment in advanced surveillance radars and other air traffic management equipment

The Ministry of Defence (MoD) has awarded a £1.5 billion contract to update and sustain the UK's military air traffic management (ATM) system.