Bankers' Body Urged To Merge After Libor Loss

By Mark Kleinman, City Editor Britain's banking lobby group is under pressure to consider a merger with another trade body as it seeks to fill a funding deficit triggered by the loss of its role setting the interbank borrowing rate Libor. I have...

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easyJet Profit Soars By Over 27%

Budget airline easyJet has reported a rise in pre-tax profit of 27.9% to £317m over the year to the end of September. The firm said a surge in late summer bookings to destinations including Malaga, Alicante and Faro helped boost its revenue,...

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Hovis Owner Premier Foods To Cut 900 Jobs

The owner of Hovis has announced plans to cut 900 jobs in its struggling bread business as profits become harder to come by. In a statement, Premier Foods said it was to close two bakeries and reform its delivery network. The biggest impact will be...

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Payday Lenders Face Regulator Inquiry

Several payday lending firms are facing a formal investigation over aggressive debt collection tactics amid concerns about poor practice in the wider industry. The announcement was made by the Office of Fair Trading (OFT) which said it was taking several...

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Energy Bills: Shake Up Could Push Up Cost

Families could end up paying more after a shake-up in energy prices because cheaper deals will be axed, experts have warned. New Government plans are expected to force companies to offer just four tariffs per fuel and make them automatically shift customers...

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Intel CEO Paul Otellini To Retire In Surprise Move

Intel chief executive officer Paul Otellini has announced he will retire sooner than expected. He will step down in May at the age of 62, earlier than the company's mandatory retirement age for CEOs of 65. Mr Otellini, Intel's fifth chief executive,...

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Japanese Food Giant Wades Into UB Auction

By Mark Kleinman, City Editor One of Japan's biggest food companies has made a late entrance into the auction of United Biscuits' snacks arm, augmenting an array of international interest in some of Britain's best-known consumer brands. Calbee...

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Shareholders Back Glencore/Xstrata Mega-Merger

Shareholders have finally given their blessing to the takeover of mining company Xstrata by commodities trader, Glencore. The deal followed nine months of wrangling among bosses and institutional investors in the FTSE 100 firms. Xstrata's shareholders...

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HP Hit By 'False Accounting' At Autonomy

Hewlett-Packard (HP) has accused Autonomy of lying about its finances, as it announced a write-down of $8.8bn (£5.5bn) relating to its purchase of the company. The Silicon Valley computing firm said the majority of this charge was because of "serious...

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UBS Rogue Trader Adoboli Jailed Over Fraud

A rogue trader who lost £1.4bn in bad deals that nearly brought down Swiss bank UBS has been jailed for seven years for fraud. Kweku Adoboli, once a rising star City trader, was found guilty by a London court of the biggest fraud in British history....

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