City News

Pharmaceutical and technology stocks led the rally

Stocks benefit from 'Santa' rally

The Dow Jones industrial average and the Standard & Poor's 500 index has closed at record highs as the market delivered its fourth gain in as many trading days.

Russia bank bailout amid rouble woe

Russia has bailed out a mid-sized bank to save it from bankruptcy - a clear sign that the slide in the value of the rouble in the wake of falling oil prices is straining the banking system.

Alstom to pay £494m in bribery case

A French power and transportation company has agreed to pay 772 million dollars (£494 million) in penalties to the US to resolve allegations that it bribed government officials in multiple foreign countries.

Haynes vows to repair profits fall

Car manual firm Haynes Publishing has been hit by "extremely disappointing" trading after retailers ran down stocks to lower than usual levels.

Jail term for forex rigging planned

Traders caught rigging foreign exchange (forex) markets will face up to seven years behind bars under plans confirmed today by Chancellor George Osborne.

Airbus delivers wide-bodied plane

Plane-making company Airbus, whose aircraft's wings are made in the UK, has delivered the first of its new generation of wide-bodied planes.

Tesco profit claim investigated

The accounting watchdog has launched an investigation into a £263 million overstatement of profit expectations at Tesco.

B&Q owner sells China stake

B&Q owner Kingfisher is to sell a controlling stake in its loss-making China business for £140 million as it focuses on its core European market.

Consumers buoyant for positive 2015

Consumers' confidence in their financial situation has lifted to its highest levels in at least four years - boding well for a brightening economy in 2015, according to a report.

Top City bosses set for big bonuses

Senior City workers expect to see their bonuses increase by 21% this year - despite regulatory pressure to scale back big payouts, according to a new report.

Firms hiring but skills gap a worry

Half of firms plan to hire more workers next year, but some jobs could remain unfilled because of skills shortages, a new study has shown.

North Sea oil summit announced

Aberdeen is to host a summit on the challenges facing the North Sea oil industry

A summit which aims to bring together governments, trade unions and industry bodies to save jobs in Scotland's oil capital has been announced.

Hotel booking site gives assurance

A major hotel booking website reassured customers their details are safe

One of the world's biggest hotel booking websites has insisted its customers' details are safe after a whistle-blower revealed how he helped fraudsters use personal data to trick thousands of people.

£1.2bn spending on 'Panic Saturday'

High streets are expecting a £1.2bn Panic Saturday shopping splurge

Shoppers across Britain went looking for late Christmas bargains today as h igh street spending was set to reach £1.2 billion on what was being branded "Panic Saturday".

Tidal energy project work to start

The project has the potential to power nearly 175,000 homes through a network of 269 turbines on the seabed at Ness of Quoys in Caithness

Construction of the largest planned tidal energy project in the world is expected to begin off the Scottish coast next month, developers have announced.

Ofcom probes Sky football demands

Ofcom has launched a consultation regarding Sky's hold on the live football pay TV market

Ofcom has launched a consultation into the way Sky is obliged to offer key sports channels to pay-TV rivals under regulations described as "flawed" by the broadcaster.

Obama criticises Sony film decision

The Sony Pictures Entertainment studio in California (AP)

Barack Obama has criticised Sony Pictures' decision to cancel the release of a movie about a plot to assassinate North Korean leader Kim Jong Un, saying the studio "made a mistake".