City News

Eurozone inflation creeps to 0.4%

Inflation in the eurozone rose to 0.4 per cent in October from 0.3 per cent

Inflation crept higher in the 18 countries that use the euro in October - but the rise to an annual 0.4% offered little relief to the European Central Bank as it tries to boost a weak economy.

BA owner sees profits climb

British Airways' profits are up after it grew capacity and maintained its focus on cost control

The owner of British Airways stepped up pressure on its European rivals today by forecasting it will make bigger than expected profits this year.

Banks lead FTSE 100 surge

The FTSE 100 Index opened 1% stronger, up 64.1 points at 6527.8 on Friday

Bank stocks led a surge for the FTSE 100 Index today after new standards on financial health from the Bank of England were met with relief by lenders.

Indian summer hits Superdry profits

SuperGroup said exceptional warm weather had dented demand for its coats and outerwear

Britain's Indian summer took its toll on another major retailer today when the owner of the Superdry brand revealed profits will be lower than expected.

Proposals to repay £2bn WWI debt

National War Bonds were first issued in 1917 as part of an effort by the government to raise money to finance the continuing cost of the First World War

Steps to repay the UK's £2 billion in outstanding First World War debt have been unveiled with plans to redeem bonds dating back to the 18th century.

Banks given capital rules deadline

The Bank of England's new rules will aim to ensure that the banks are in a better position to withstand a financial crisis

Banking shares rose today after Britain's biggest lenders were given until 2019 to meet new standards on financial health set by the Bank of England.

RBS writes off further £780m

RBS is 80% owned by the taxpayer after being rescued during the financial crisis

Royal Bank of Scotland wrote off another £780 million for past misconduct today and suggested more pain was to come before taxpayers would see a return on their £46 billion bail-out of the lender.

Shell defies oil price slump

Shell revealed a sharp jump in quarterly profits

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

Seasame has been fined nearly 1.6 million pounds

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.

Apple boss Cook 'proud to be gay'

Apple chief executive Tim Cook has publicly come out as gay (AP)

Apple boss Tim Cook has revealed he is "proud to be gay" and hopes that in publicly coming out he can help others come to terms with their sexuality.

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.

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.

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 Bank is being prepared for a sell-off

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

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.

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.