City News

Small firms told of pension duties

A drive to raise small companies' awareness of their duties to enrol employees into a pension scheme is being launched (DWP/PA)

A new drive to raise small companies' awareness of their duties to enrol employees into a pension scheme is being launched by the Government.

Builders lay foundations for growth

The building industry has shown signs of growth since the general election

Britain's builders enjoyed a post-election bounce back last month as the construction sector grew at its fastest pace since February, according to new figures.

BP to pay out £12bn for oil spill

The agreement would settle all US federal, state and local claims for the Gulf of Mexico disaster, BP said

Oil giant BP said it had reached an 18.7 billion US dollar (£12 billion) legal settlement in the US to cover the Deepwater Horizon explosion and oil spill that killed 11 workers five years ago.

Nestle to close pension scheme

A view of the Nestle factory in Hayes, Middlesex

Food giant Nestle has announced plans to close its defined benefit pension scheme, sparking the threat of industrial action.

Magners firm reveals sales blow

The maker of Magners cider and Tennents lager saw weaker-than-expected trading in its first quarter to the end of May

The maker of Magners cider and Tennents lager said tough new drink drive limits in Scotland and May's unseasonally cold weather hit sales in the first three months of its year.

'Photo cheque' to speed payments

Plans to kill off cheques from 2018 were ditched a few years ago after an outcry from MPs, small businesses, charities and pensioners

A new service which allows people to pay in cheques by taking a photo of them rather than having to go to their bank has been made available to nearly one million more people.

1,000 jobs to go at 'leaner' BBC

The BBC says there is a £150 million shortfall in its licence fee income

The BBC is making big changes to its structure, cutting more than 1,000 jobs, and stripping out layers of management because of a £150 million shortfall in its licence fee income as more people watch programmes online.

Dixons Carphone buoyed by US deal

The FTSE 100 Index opened 5.1 points lower at 6603.5

Dixons Carphone shares were given a boost today after the group announced plans to launch up to 500 stores across the US under a tie-up with one of America's biggest telecoms firms.

Greek No vote would 'test' defences

Greek pensioners line up as they wait to be allowed into a bank (AP)

A No vote in Sunday's referendum in Greece would "test" the defences established in the UK and Europe against financial instability spreading, the deputy governor of the Bank of England has said.

Warning on housing debt levels

The Bank of England took action last year to damp down rising property prices

Levels of debt being taken on by British households to fund increasingly expensive homes are creating a "risk" to financial stability, the Bank of England's deputy governor has warned.

Dixons Carphone plans US tie-up

Dixons Carphone's Connected World Services arm has agreed a deal with Sprint - America's third largest mobile phone group

The newly created company behind Carphone Warehouse and Currys PC World has announced plans to launch up to 500 stores across the US under a tie-up with one of America's biggest telecoms firms.

House price rises slowing - survey

Property values across the UK increased by 3.3% in the 12 months to June, Nationwide said

House prices increased at their slowest annual pace in two years in June, with property values in Northern Ireland rising at a faster rate than those in London, Nationwide Building Society has reported.

Talks stall but banks keep lifeline

Demonstrators shout slogans during a rally by supporters of the No vote in the upcoming referendum in the northern Greek port city of Thessaloniki (AP)

Greece is braced for more chaos on the streets outside its mostly shuttered banks after Athens and its creditors halted talks on resolving the country's deepening financial crisis until a referendum this weekend.