City News

Advice sought for annuity holders

The Government's plans give five million people the right to sell the income they receive from their annuitites

Pensioners looking to cash in their retirement annuity under plans set to come into force next year could be at risk of making a bad decision over its true worth, the Institute for Fiscal Studies (IFS) has warned.

Letter prompts 'neutrality' fears

Paul Walsh could become the next CBI chief, according to reports

Labour have raised questions about a senior businessman's hopes of being appointed president of the Confederation of British Industry, after he put his name to a high-profile letter backing the economic policies of the Conservative-led Government.

More big bosses get wage freezes

Analysis of the first 39 remuneration reports filed by FTSE 100 companies this year shows 45% of executives received no salary increase

More bosses at Britain's biggest companies are having their salaries frozen, although bonuses are rising for the first time in four years.

Mixed message on manufacturing

Figures showed new export orders enjoying their fastest growth in seven months

Manufacturing grew at its fastest pace in eight months in March, figures showed today, but separate data showing a decline in UK productivity are likely to raise fresh concerns about the sustainability of the wider recovery.

Factory cheer aids FTSE recovery

The FTSE 100 climbed 35.3 points to 6808.3

Blue-chip shares have recovered their poise after a bout of profit taking led to big losses at the end of the first quarter of 2015.

Half of workers have had a pay rise

The typical increase has been 2% for the past two years

Just over half of workers had a pay rise last year and more are optimistic about seeing their salaries increase in 2015, according to new research.

Parties trade blows on job policies

Labour party leader Ed Miliband greets workers as he arrives with shadow work and pensions secretary Rachel Reeves at David Brown Gear Systems in Huddersfield

The big parties exchanged blows on jobs on the third day of the General Election campaign, with Chancellor George Osborne accusing Ed Miliband of "an assault on everyday working people", while the Labour leader said Tories were only interested in "looking after a few big firms and individuals at the top".

US stocks slide at end of quarter

The Dow Jones industrial average slumped 200 points

The US stock market closed out the first three months of the year on a down note, erasing much of the gains from the prior day's big rally.

NHS 'was target for blacklist'

Industry chiefs drawing up a blacklist were also considering targeting NHS workers, it has been suggested

The organisation which drew up a blacklist of construction workers was planning to extend the practice to the NHS, it has been revealed.

Departing Pru boss had 36% pay hike

Tidjane Thiam became the first black chief executive of a FTSE 100 company when he was appointed at the Prudential in 2009

Departing Prudential boss Tidjane Thiam received a 36% pay hike as he was awarded a package worth £11.8 million for his final year in charge of the insurance giant.

Net-A-Porter set for Italian merger

Former fashion journalist Natalie Massenet founded the business from her London flat in 2000

The founder of upmarket fashion website Net-A-Porter is set for a reported £70 million payout after the firm she launched 15 years ago announced a merger with an Italian rival.

Economic figures give mixed message

Chancellor George Osborne said the figures confirms 'UK as clearly fastest growing major advanced economy'

The economy grew at its fastest pace since 2006 last year according to revised official figures that showed growing exports helped boost performance in the final quarter.

FTSE 100 retreats after oil slump

The FTSE 100 Index opened in positive territory, albeit by a single point at 6892

London's top-flight share index was hit by a bout of profit-taking today as it fell sharply on the last day of a broadly positive quarter for stocks.

Thomas Cook hails UK progress

Thomas Cook said UK winter holidays were 92%, sold which is 9% up on last year

Tour operator Thomas Cook said holidaymakers were flocking to Cuba and Greece this year but added that prices remain under pressure.

Investment boost for Honda plant

Honda is investing £200m in its plant in Swindon, Wiltshire, which will manufacture the new Civic

Car giant Honda has shown its commitment to the UK by announcing that its Swindon plant will be the world manufacturing centre for its next-generation five-door Civic model.