British Bank Body Hands Libor To US Exchange

By Mark Kleinman, City Editor The administration of the controversial Libor benchmark interest rate will be handed to a US stock exchange under a deal to be announced on Tuesday that will remove it from British oversight. Sky News understands that...

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IMF Upgrades UK Growth Forecast For 2013

The International Monetary Fund (IMF) has upgraded its 2013 growth forecast for Britain, reinforcing claims of green shoots of economic recovery. The IMF is now predicting growth of 0.9% this year, up by 0.3% since its last report in April when it downgraded...

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M&S Clothing Sales Continue To Unravel

Retailer Marks and Spencer has seen a continued decline in its troubled clothing department, according to its latest trading update. It said like-for-like clothing sales declined by 1.6% during the 13 weeks to the end of June. Clothing sales have been...

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Award-Winning Singer Lauryn Hill In Jail

Grammy-winning singer Lauryn Hill has begun serving her three-month prison sentence for failing to pay about $1m (£670,000) in taxes over the past decade. Hill is serving her time at a federal prison in Danbury in the state of Connecticut, Ed Ross,...

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Corruption Seen To Be Growing In UK, Report

Corruption in the UK is increasing, according to the world's largest public opinion survey. Transparency International said a tally of respondent views indicated the perception of media corruption increased significantly since the publication of its...

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Fraudster Held After 'Catch Me' Twitter Taunt

A fraudster who cheekily tweeted to US authorities to "catch me if you can" after skipping her trial for an insurance scam is now behind bars. Wanda Podgurski was captured on July 4 in Rosarito Beach, Mexico, a popular retirement spot for American expats...

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Flight Delays After Air Traffic Control Glitch

Travellers have been delayed by a computer glitch that forced air traffic controllers to restrict the number of planes flying across the south of England. Air traffic control company Nats said the "technical problem" happened at its control centre in...

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UK Coal Calls In Administrators Over Daw Mill

Britain's largest coal miner has gone into administration, with the loss of 350 mining jobs. The move comes after an underground fire closed its most profitable mine at Daw Mill colliery in Warwickshire last March. Management confirmed the decision...

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Royal Mail Staff To Get Free Shares In Sale

By Mark Kleinman, City Editor Tens of thousands of Royal Mail staff will receive free shares worth as much as £300m as part of the privatisation of the postal operator, the Government will announce on Wednesday. Sky News can reveal that ministers...

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Rupert Murdoch Recalled By Commons Committee

Rupert Murdoch has been invited to re-appear before the Commons Culture, Media and Sport Committee. It comes after a tape recording emerged of him apparently telling journalists he regretted the level of co-operation given by News UK - formerly News...

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