City News

Alibaba sets New York share price

Alibaba, the Chinese e-commerce powerhouse named after a fabled, poor woodsman who discovers a thieves' den full of treasures, is ready to strike it rich on Wall Street.

Private rents 'hit record high'

Private sector rents have lifted to a new all-time average high of £761 a month as the peak season for tenants snapping up new homes gets under way, a major lettings network has reported.

Petrol prices up as pound weakens

A stronger dollar and a pound "weakened by the Scottish referendum" have put the brake on falling petrol prices, according to the AA.

Economy pushes stocks to new highs

More encouraging economic news and friendly signals from the Federal Reserve cheered investors, as the US stock market climbed to another record high.

Hopes of Phones 4u rescue dashed

Hopes for a last-ditch rescue of Phones 4u have been quashed as talks continue over deals to save at least some of its shops and jobs.

News Corp opposes Google in EU case

Google has been accused of diverting users away from relevant search results to its own offerings

Rupert Murdoch's News Corp has joined the fray in Google's protracted European antitrust case, saying the technology company unfairly distorts competition.

Factory export orders 'faltering'

Firms saw total order books fall below "normal" levels, with the impact on exporters particularly severe

Factory export order books have weakened to their worst level since January 2013 amid political uncertainty at home and abroad, the CBI has said.

Mortgage lending 'may be slowing'

Mortgage lenders have reported their strongest August since 2008 with an estimated total of £18.6 billion handed out to borrowers last month.

French Connection cuts losses

French Connection has employed a new design team as part of its drive to end a long period of losses. (Picture French Connection).

French Connection posted a smaller half-year loss of £3.9 million today as the fashion chain took a further step on its drive to rebuild the business.

easyJet places new Airbus order

Low-cost airline easyJet stepped up its expansion today by taking up an option with Airbus for the addition of another 27 planes to its fleet.

Dow hits record after Fed statement

Trader William Lawrence works on the floor of the New York Stock Exchange (AP)

The US stock market rose after the Federal Reserve told investors to expect low interest rates for a while yet, pushing the Dow Jones industrial average to a record high.

800 Phones 4u jobs saved

Dixons Carphone has agreed to take on 800 posts

Some of the 5,600 Phones 4u jobs in peril following the retailer's collapse have been saved after Dixons Carphone offered to take on 800 posts.

MPC members outvoted on rates rise

Martin Weale and Ian McCafferty argued that the Bank needed to raise rates

A split at the Bank of England over when to hike interest rates from their record low continued this month, when two members voted for a rise.

Sony forecasts increased losses

Sony president Kazuo Hirai bows at the end of a press conference at the company's headquarters in Tokyo (AP)

Sony expects its annual loss to swell to 230 billion yen (£1.3 billion) and has cancelled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business.

JD Sports surges to record profit

Footwear sales have driven the strong profits performance at JD Sports Fashion

JD Sports Fashion said profits doubled as demand for branded athletic footwear powered an "exceptional" performance in its sports shops.

180,000 'lied over motor insurance'

Nearly 3,500 cases of motorists lying on their applications for insurance or deliberately leaving relevant information off them are being uncovered by insurers each week, new figures reveal.

More cheer for Government on jobs

The jobless total was down by 146,000

The UK's improving jobs market delivered more cheer for the Government today after the largest annual fall in unemployment since 1988 .

Big Six energy firms bottom of list

A customer service poll has given energy company npower the lowest rating

The "Big Six" energy companies are among the worst offenders when it comes to poor customer service, with npower finishing bottom in a poll of the UK's biggest brands.