City News

Microsoft buy Minecraft game studio

Microsoft has bought the development studio behind gaming phenomenon Minecraft for more than two billion US dollars (£1.2bn), both companies have confirmed.

Experts scale back growth forecasts

A weak euro is affecting prospects for economies this year

The OECD has scaled back its economic growth forecasts with a warning that bullish financial markets are failing to price in mounting global risks.

Greggs rolls out more profits cheer

Greggs said its profits will beat expectations

Pasty and sausage roll maker Greggs said its profits will beat expectations after customers warmed to its new products and refurbished shops.

Small firms' confidence 'improving'

Three-fifths of small firms expect to grow in the next 12 months

Confidence among small businesses is continuing to improve after a surve y showed three-fifths of firms expect to grow in the next 12 months.

Economic risk 'underestimated'

YES and NO supporters as campaigning on both sides enters its final days

Scottish nationalists have severely underestimated the economic risks of independence, according to a centre-right think tank.

Call to help 'save civilisation'

It is hoped the billions of pounds held in endowment funds could help tip the scales in favour of climate action, stimulating vital investment in a clean energy future

Philanthropists and foundations should use funds worth billions of pounds to fight climate change, leading environmentalists have urged.

Strong housing market due in autumn

Asking prices jumped by 0.9% month-on-month in September to reach an average of £264,875, figures show

The housing market has picked up earlier than usual after the summer break in signs that strong activity is set to return this autumn, a property website has reported.

Call to restrict payday loan ads

Youngsters find payday loan firms' adverts to be fun, tempting or exciting, a survey found

Almost three quarters (74%) of parents want payday loan companies to be banned from broadcasting television and radio adverts before the 9pm watershed, according to a new study.

Boss blames 'callous networks'

The Phones 4u mobile phone shop on Oxford Street is among those expected to close pending a decision by the administrators on whether the business can be reopened for trading.

The founder of Phones 4u has blamed "extremely callous" mobile networks for the collapse of the company, which has put 5,600 jobs at risk.

Phones 4u to go into administration

Phones 4u's stores will be closed on Monday

Phones 4u is to go into administration - placing more than 5,500 jobs at risk - after network operator EE joined Vodafone in cutting ties with the retailer.

37% 'feel worse off post-recession'

Some 37% said utility bills, food and transport costs were among common financial worries, a poll shows

More than one-third of people feel that their finances have worsened over the last year despite signs of wider economic improvement, a survey has found.

CEO informs Co-op of relationship

Co-op Bank chief executive Niall Booker has informed the board he is having a relationship with senior colleague Samantha Davenport

The board of the Co-operative Bank has backed its chief executive after he informed them he was having a relationship with a senior colleague.

Tory donor in independence backing

Leading businessman John McGlynn said he is voting Yes in the independence referendum because the offer of more power for Holyrood is 'too little too late'

A leading businessman who has donated cash to the Conservatives has said he is voting Yes in the independence referendum because the offer of more power for Holyrood is "too little too late".

Trade deal potential 'immense'

Earl Howe hailed the merits of the trade deal

Excluding health from talks over a huge trade deal between the European Union and the United States would be "highly unwise and detrimental" to British firms, a Government minister said.

Deutsche Bank boss in stark warning

Scottish First Minister Alex Salmond.

The financial and economic arguments against Scottish independence are "overwhelming", a leading bank warned as it compared a Yes vote to the mistakes which led to the Great Depression of the 1930s.

Swinney hails pub group comments

The boss of Wetherspoons has said there is no reason why the price of beer should go up in an independent Scotland

Yes campaigners have welcomed comments from the chairman of pub group Wetherspoons, stating there is "no reason" why Scotland cannot be a "very successful independent country".

Cable urged retailers to speak out

Vince Cable said the 'overwhelming bulk of businesses' considered a Yes vote as a potential disaster

Business Secretary Vince Cable has said he directly encouraged two leading retailers to publicly express their concerns over independence.