City News

Economy growth better than thought

The economy is growing faster than estimated, according to new figures

Britain's economy grew more quickly than previously thought in the second quarter of this year though the start of 2014 was more sluggish, according to revised official figures.

Wonga announces slump in profits

Wonga has been attacked by MPs for charging interest rates of over 5,000%

Controversial payday lender Wonga has reported a slump in profits as it counts the cost of a drive to clean up the image of the business.

US stocks slip, then bounce back

The Dow Jones industrial average sank 178 points in the opening minutes, a sudden drop of 1%  but then it climbed back

Concerns over high stock prices and global politics continued to plague US markets as major stock indexes ended with slight losses in another day of choppy trading. Pro-democracy protests in Hong Kong, a major world financial centre, added to the host of political concerns on investors' minds.

Former Morrisons executive charged

The City regulator said a former executive at Morrisons has been charged with two offences of insider dealing

A former executive at supermarket chain Morrisons has been charged with two offences of insider dealing, the City regulator said today.

Mortgage approval rate falls

Higher property prices may be cooling demand, figures indicate

The number of mortgages approved for house purchase dropped again in August amid signs that higher property prices are cooling demand.

Banks close Hong Kong branches

Riot police fire tear gas at student protesters occupying streets in Hong Kong (AP)

London-based banks HSBC and Standard Chartered have been forced to shut bank branches in Hong Kong as the territory's political unrest spills into the financial markets.

Lloyds sacks 8 after rate-fix probe

Eight members of staff have been sacked by Lloyds Banking Group in the wake of revelations about rate-fixing

Lloyds Banking Group has fired eight members of staff and withheld bonuses worth £3 million as part of disciplinary action taken in the wake of July's revelations about rate-fixing.

Booming Aldi planning more stores

Aldi has announced UK sales of £5.3 billion for 2013, a rise of 36% on a year earlier

Discount supermarket Aldi plans to open up to 65 new stores next year as it continues to step up the pressure on the Big Four grocery chains.

PM pledges GP cover 7 days a week

Chancellor George Osborne makes his keynote address to the Conservative Party conference at the International Convention Centre in Birmingham

Every NHS patient in England will be guaranteed access to a GP seven days a week by 2020 if Conservatives win power in next year's election, David Cameron has said.

Campaign boosts business start-ups

Many young people are worried about starting out in business in the current economic climate, a study has found

Youth charity The Prince's Trust and RBS are to launch a new campaign to encourage unemployed young people to start up their own business.

Returns drop-off points trialled

Drop-off points for parcel returns are being trialled by the Post Office

The Post Office has announced a trial of more than 150 new drop-off points for home shopping customers returning orders using Royal Mail's pre-paid returns services.

Spending power squeeze 'continuing'

A new report warns that the squeeze on spending power will continue until 2017

A squeeze on spending power is set to last another three years and result in a "lost decade" for real take home pay, an influential report said.

Young workers embrace pensions move

Nest found that the highest opt-out rates were among older workers

Young workers are leading the way in the Government's pension savings revolution, with people aged under 30 more likely to embrace automatic enrolment than any other age group, figures released by a major retirement scheme show.

Air France pilots' strike ended

Air France pilots had gone on strike over the airline's plans to shift most of its European operations to low-cost carrier Transavia (AP)

Air France's leading pilots' union has ended a 14-day strike that crippled air traffic and led to condemnation from the French government.

Shanghai zone restrictions lifted

The free trade zone encapsulates the city of Shanghai

China has announced the lifting of restrictions on foreign investment for several industries, from green tea to civil aeroplane engines, in a special free trade zone in the business hub of Shanghai.

Weekend spend 'behind Monday blues'

People are checking the damage they have done to their bank balances over the weekend, research suggests

Workers' Monday morning blues may have as much to do with them discovering the full extent of their weekend spending as being back in the office, research suggests.

200 new jobs for city from Capita

First Minister Alex Salmond hailed the creation of more than 200 jobs in Glasgow by  Capita plc

Over 200 new jobs will be created in Glasgow by one of the country's largest private sector employers, the First Minister has announced.

Minister quits and Tory MP defects

Mark Reckless delivers his speech during the Ukip annual conference at Doncaster racecourse in South Yorkshire

David Cameron has been dealt a double blow after a Government minister quit in a sex scandal and another Tory MP announced he was defecting to Ukip.