Nokia And Blackberry-Maker Agree Patent Truce

Nokia has settled all its patent disputes with Blackberry-maker Research In Motion (RIM) amid the costly legal rows still gripping the fiercely competitive smartphone industry. While terms of the agreement were confidential, Nokia said, the deal on...

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Banks Face Break-Up Over Risky Trading

By Poppy Trowbridge, Business and Economics Correspondent British banks face break-up if they fail to follow new rules protecting high street operations from riskier trading. The Parliamentary Commission on Banking Standards has published a report...

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UK Economic Growth Less Than Expected

Britain's growth figure for the third quarter has been revised to 0.9% by the Office for National Statistics. That is down from their previous estimate of 1%. Britain's dominant services sector posted meagre growth in October, adding to the challenge...

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BT Slapped With £95m Refund Bill

BT has been told it must repay almost £95m to corporate customers following a row over high speed data provision. The regulator Ofcom ruled the company had overcharged for Ethernet services and must hand back £94.8m to communication providers BSkyB...

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Steve Jobs' £80m Super Yacht Impounded

A super yacht built for Apple's late co-founder Steve Jobs has been impounded in Amsterdam because of a dispute over an unpaid bill to designer Philippe Starck, a lawyer has said. Mr Jobs, who died last year, never got to use the vessel, called Venus....

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Fiscal Cliff: Republican Plan Ends In Failure

House Speaker John Boehner said on Friday that he was still open to talks with President Obama - a day after being forced to scrap a vote on his back-up plan to avoid the fiscal cliff crisis. Mr Boehner had confidently predicted on Thursday that he...

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BAE Systems Strikes £2.5bn Deal With Oman

By Alistair Bunkall, Defence Correspondent A deal worth £2.5bn has been completed between British defence manufacturer BAE Systems and Oman. It will see BAE provide the Gulf state with 12 Eurofighter Typhoon aircraft and eight Hawk training jets....

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House Prices Predicted To Edge Down In 2013

House prices across the country fall by 1% during 2013 as the London market shows signs of cooling, property analysts have said. Prices fell 0.1% month-on-month in December, marking the sixth month in a row that this has happened, and average prices...

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Belgian Chocolate: Is Its Reputation Melting?

By Robert Nisbet, Europe Correspondent Belgium's reputation as the world's chocolate capital could be melting as emerging markets develop a sweet tooth and the recession continues to bite. The region became the base for the industry shortly after...

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Christmas Day Online Sales Surge Predicted

Bargain season begins in force today as online retailers slash prices ahead of an expected onslaught of consumers hitting the high street for the traditional Boxing Day sales. Amazon's UK website said it had seen sales on Christmas Day increase by 263%...

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HMRC Missed Calls Cost Taxpayer £136m A Year

Delays in answering phone calls to HM Revenue and Customs hotlines cost the taxpayer £136m in the last year. According to a National Audit Office (NAO) report, delays cost customers £33m in call charges while they waited for HMRC to answer the phone...

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Facebook Flotation: Morgan Stanley Fined

Morgan Stanley, the lead underwriter for Facebook's initial public offering in May, has been fined $5m (£3.08m) by Massachusetts' securities regulators. The officials accused the bank of having "improper influence" over the research analysts covering...

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Higher Food Costs Add To Inflation Woes

The main rate of inflation remained unchanged in November as falling petrol prices failed to offset rises in many basic foodstuffs and home energy costs. The Office for National Statistics calculated that the CPI measure remained at an annual rate of...

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Redundancy Move 'Makes It Easier To Sack Staff'

The Government is being accused of making it easier for firms to sack their staff through reforms to redundancy rules. Unions reacted with fury after it was confirmed the 90-day period before large-scale redundancies could take place was to be cut by...

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Soaring Numbers Work Christmas Day

There has been a big jump in the number of people working on Christmas Day, according to a report by the union organisation the TUC. It found that hospitals and hospitality were among the sectors asking more staff to forgo festive breaks. The TUC said...

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Toyota Hit With Record US Fine Over Recalls

Toyota has been hit with a record $17.4m (£10.7m) fine for failing once again to quickly report problems to US regulators and for delaying a safety recall. The penalty from the National Highway Traffic Safety Administration - the agency that monitors...

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Cardiff Airport Could Be 'Nationalised'

Cardiff Airport could be bought by the Welsh Government amid an effort to turn its fortunes around and make it a key part of the country's economic growth plans. First Minister Carwyn Jones said his officials had entered an exclusive due diligence agreement...

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Queen Quizzes Osborne About Sale Of UK Gold

It was meant to be a visit without any high politics but the Queen still managed to quiz the Chancellor about British gold as she visited Downing Street. Walking along the line of ministers in the Terracotta Room inside Number 10 before sitting in on...

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Samsung Drops Attempts To Ban Apple Products

Samsung has withdrawn lawsuits which seek to ban the sale of Apple products in Europe, although the companies' legal battle over copyright continues. A statement by the South Korean company said it strongly believed companies should compete in the marketplace,...

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Investigation Launched Into Comet Collapse

The Department for Business, Innovation and Skills has launched an investigation into the purchase and administration of troubled electrical chain Comet. The Insolvency Service has been tasked with scrutinising the process following a number of...

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Twitter Snaps Back In Instagram Photo War

Twitter has fired the latest salvo in its social media war with Instagram by offering its own smartphone photo-sharing features. It was forced to act after the Facebook-owned firm made it impossible for internet users to integrate Instagram images into...

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Starbucks Tax Row Boosts Costa Coffee Sales

The UK's largest hotel and restaurant group, Whitbread, has said sales at its Costa Coffee brand have increased by over 25%. Like-for-like sales at its coffee shops were up by 7.1%, while total sales increased by 25.5% in the three months to November...

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HSBC Bonuses Hit After £1.2bn Fine

By Mark Kleinman, City Editor HSBC's top executives are to defer a portion of any bonuses they are awarded for the next five years following the bank's £1.2bn fine for breaching money laundering rules in the US. I have learned that the Deferred...

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Pension Reforms: CBI Slams Europe Reform Plan

Planned changes to pension rules by the European Commission could cost the UK an extra £350bn and 180,000 jobs, according to the Confederation of British Industry (CBI). A study for the business lobby group suggests the proposals, which include forcing...

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Labour To Oppose 1% Cap On Benefits Payments

Labour has vowed to oppose the 1% cap on benefits payments proposed by Chancellor George Osborne in his Autumn Statement. Ed Balls confirmed the decision at Treasury Questions in the House of Commons, claiming the measure is unfair. The Chancellor...

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Northern Rock To Refund £270m To Customers

Northern Rock Asset Management (NRAM) - the state-owned part of the defunct lender - is to refund a total of £270m to customers. The bank will pay an average of £1,775 to each affected customer after failing to disclose information in documents and...

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Shale Gas Drilling 'Huge Boost' To UK Economy

By Richard Suchet, Sky News Reporter Drilling for shale gas could create "tens of thousands" of jobs in the UK and generate vast sums of money for the Treasury, according to a UK-based exploration company. Cuadrilla chief executive Francis Egan...

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Virgin Atlantic Takes On BA With Delta Deal

Singapore Airlines has sold its 49% stake in Virgin Atlantic to rival Delta, in a move that will bolster Virgin's reach in the United States and intensify its rivalry with British Airways. The deal was announced just 24 hours after a verbal spat between...

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HSBC To Pay £1.2bn In Money Laundering Case

Record Fine: HSBC's Statement Updated: 8:39am UK, Tuesday 11 December 2012 HSBC released the following statement after confirming it will pay $1.9bn (£1.2bn) to the US Department of Justice over money-laundering. HSBC has reached agreement with United...

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Libor Scandal: UK Police Make Three Arrests

The Serious Fraud Office (SFO) has made three arrests as part of its investigation into the manipulation of the interbank lending rate, Libor. The major banks declined to comment on the development but Sky sources have suggested that one of the people...

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British Airways Plans Hundreds Of Job Cuts

British Airways is entering talks with a union on plans to cut 400 jobs among cabin crew. The airline, which is owned by International Airlines Group (IAG) and operates alongside Spanish carrier Iberia, said it was beginning a 90-day consultation with...

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Tax: Starbucks, Google And Amazon 'Immoral'

By Darren McCaffrey, Sky News Reporter Starbucks, Google and Amazon have been accused of "immorally" avoiding paying their fair share of tax in the UK, as the Chancellor prepares a blitz on tax dodgers. MPs on the Public Accounts Committee criticised...

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Exclusive: Germans Set To Feast On KP Snacks

By Mark Kleinman, City Editor One of Germany's biggest food companies is poised to snatch control of household name British food brands including Hula Hoops and KP Nuts after a £400m-plus raid on their owner. I understand that Intersnack, which...

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Christmas Shopping Leaves Retailers Nervous

There are signs that Christmas shoppers are adopting a "wait and see" approach in the hope of a price war among retailers in the run-up to December 25. The latest sales figures from the British Retail Consortium (BRC) show a rise of 0.4% during November,...

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Thomson Owner Paid 'Little' UK Corporation Tax

Tui Travel paid just £1.1m corporation tax in the UK over the last year, despite a hike of almost 40% in statutory profit. The boss of the British company, which owns Thomson and First Choice among others, told Sky News the low figure was a result of...

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Household Spending Up But Families Get Less

The average UK household spent £483.60 a week in 2011 - the highest amount ever recorded by the Office for National Statistics (ONS). Last year's level was £10 higher than in 2010, due in part to increases in transport and housing costs. However, although...

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Royal Mail Posties' In Boycott Threat

Postal workers are being urged to refuse to deliver letters from anyone other than Royal Mail in the New Year, in a move which threatens to cause disruption. Around half of the letters delivered by Royal Mail are collected and sorted by private companies...

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Autumn Statement: £5bn Investment Boost

Deeper cuts in some Whitehall budgets are to be used to fund an extra £5bn investment in schools and other capital projects. Government departments will be expected to cut day-to-day spending by 1% (£950m) in 2013/14 and 2% (£2.5bn) in 2014/15. But...

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