City News

Duncan Smith welcomes Bank claim

Work and Pensions Secretary Iain Duncan Smith has welcomed suggestions from a key Bank of England committee that benefit reforms may be driving a rise in self employment.

Ad surge boosts Facebook profits

Social network giant Facebook reported soaring profits during the first quarter of 2014, driven by a major surge in advertising revenue.

Bosses to face shareholder anger

Barclays bosses will face more shareholder anger over pay during the banking giant's annual general meeting in London today .

Families see spending power boost

Families' spending power is growing almost twice as fast in the North East as it is in London as the economy recovers, a report has found.

Shale gas 'a unique opportunity'

Prime Minister David Cameron (centre) visiting a shale drilling plant oil depot

Developing shale gas in the UK could draw in £33 billion of investment and create tens of thousands of jobs, a report for the industry has claimed.

Facebook revenue soars nearly 70%

Social network giant Facebook has reported an increase in revenue and profit despite recent acquisitions, the company's quarterly figures show tonight.

Stocks lower after six-day streak

US stocks were lower today after recent gains.

Stocks edged mostly lower today, breaking a six-day winning streak, as investors reacted to another round of quarterly earnings reports from US companies.

Primark owner surges on US plan

Shares in Associated British Foods jumped 9% after it announced plans to take Primark to the United States

Shares in Primark owner Associated British Foods surged today after it unveiled plans to launch the budget fashion chain in the US at the same time as it also published more strong trading figures from Europe.

Cake shop eyes shares sale

CPP Group sold card protection on behalf of lenders including HSBC and Royal Bank of Scotland

Cake shop chain Patisserie Valerie is set to roll out more new stores after unveiling plans to raise £33 million through a stock market flotation.

Bosses to face shareholder anger

Bosses at Barclays are likely to face angry shareholders at tomorrow's annual general meeting.

Barclays bosses will face more shareholder anger over pay tomorrow when the banking giant holds its annual general meeting in London.

Shed-bashing badger among claims

A trapped badger bashing its way out of a shed and a pigeon causing £8,000 of damage to a home after flying down a chimney are among the most bizarre but successful claims that an insurance provider has seen in recent months.

Factory orders picking up speed

Exports have been growing strongly

Factory orders are growing at their fastest rate for nearly two decades, figures showed today, as Bank of England policymakers said the UK's economic recovery was "building momentum".

Rise in fraudulent insurance claims

A major insurer has reported a 19% year-on-year increase in fraudulent claims, which it says is being driven by organised gangs and a "lack of effective deterrents".

Bonus failure angers Sports Direct

Sports Direct said it was "extremely disappointed" by the failure of its shareholders to support an incentive scheme for founder Mike Ashley.

Sports Direct turned on its shareholders today following the collapse of a plan to award founder Mike Ashley a potential windfall worth more than £70 million.

Property values expected to jump 9%

Home owners are expecting property values to jump by nearly 9% typically between now and September in further signs of growing market confidence.

EDF workers to strike amid pay row

Hundreds of workers at energy giant EDF are to go on strike in a dispute over pay.

Hundreds of workers at energy giant EDF are to go on strike in a dispute over pay, warning the action will lead to delays in fixing and installing meters.

UK debt £10bn higher than expected

Britain's debt mountain was £10.7 billion higher than expected in the last financial year as it rose to more than three-quarters of gross domestic product (GDP), despite a fall in annual borrowing.

Primark seeks to crack US market

Primark is to open stores in the United States for the first time as it looks to replicate the success behind a 26% jump in profits in the last six months.