City News

ITV hails ad momentum

ITV profits rose 16% to £312 million in the first six months of the year.

ITV kept up its momentum today after a strong World Cup for the broadcaster boosted advertising revenues by 7% in the first half of the year.

Greggs on a roll as profits rise

Greggs said it has been encouraged by recent sales initiatives as underlying profits rose 48% for the first six months of the year.

Pasty and sausage roll maker Greggs boosted profits today as the firm benefited from the launch of low-fat sandwiches and a new coffee blend.

Barclays reveals 7% profits slide

The bank revealed it has taken another hit to cover PPI claims

Barclays took a fresh £900 million hit to cover payment protection insurance (PPI) claims as it revealed a 7% slide in first-half profits today.

Home power bills to be cut by £12

Energy watchdog Ofgem said the move followed around two billion pounds of savings in the sector

Households are set to see £12 a year cut from bills after the energy regulator announced plans to curb the spending of power network operators.

Flipkart set for Amazon battle

Flipkart is gearing up for competition in India from Amazon

India's largest online e-commerce company, Flipkart, has raised one billion dollars (£589 million) in new capital as the company gears up for competition with Amazon's push into the Indian market.

Results send Twitter stock soaring

Stronger financial results gave Twitter's stock a surge with its second quarter revenue more than doubling

Stronger-than-expected financial results has pushed Twitter's stock sharply higher after the short messaging service said its revenue more than doubled in the second quarter.

Biotech giant axes up to 2,900 jobs

Biotech drug giant Amgen is to shed up to 2,900 jobs worldwide (AP)

Biologic drug-maker Amgen is to shed 12 to 15% of its worldwide workforce and close four sites, despite reporting stellar second-quarter results that trounced Wall Street expectations.

EU 'must absorb sanctions impact'

Foreign Secretary Philip Hammond said the European Union must be prepared for any impact as a result of sanctions levelled on Russia

European countries must be prepared to absorb the impact of economic sanctions on Russia in order to encourage president Vladimir Putin's regime to behave "properly" in Ukraine, Foreign Secretary Philip Hammond has said.

Start-up loans bid passes £100m

David Cameron during his visit to a small business start-up, Seven Bro7hers brewery in Salford

The Government-backed Start Up Loan scheme has issued its 20,000th loan taking the total advanced to entrepreneurs under the programme to more than £100 million, David Cameron has announced.

PM complacent on economy: Balls

The Government's record on wages is a dismal failure, Ed Balls claimed

Homeowners are facing a "real risk" of premature interest rate rises, shadow chancellor Ed Balls warned today, as he branded David Cameron the "you've never had it so good" Prime Minister.

SMEs still 'teetering on the brink'

Despite the improving economy, a sizeable number of small firms are reportedly "teetering on the brink of shutting up shop"

Around one in eight smaller firms have considered closing down in the last few months despite the economic recovery, according to a new study.

BP's Conn to take reins at Centrica

Iain Conn is to take the helm at Centrica

British Gas owner Centrica has hired BP director Iain Conn on a £925,000 salary for one of the most politically sensitive jobs in UK industry.

Tesco suffers 3.8% decline in sales

Tesco's sales fell 3.8% as the chain's market share fell to 28.9% from 30.3% a year ago, figures show

Britain's largest supermarket Tesco has suffered its worst sales decline in at least two decades, while discount rivals achieve more record trade.

Carpetright hails UK sales lift

Carpetright has posted a lift in like-for-like sales of 6.1 per cent in the 13 weeks to last Saturday

Retailer Carpetright reported "small but steady" progress in the UK today but warned sales continue to be driven by promotional activity.

Job vacancies and salaries 'rise'

The number of vacancies jumped by a fifth to almost 840,000 in the past year, a study showed

Job vacancies are increasing and advertised salaries growing amid fresh evidence of a recovering labour market, according to a new report.