Janet Yellen: Federal Reserve Boss Is Revealed

Federal Reserve vice chair Janet Yellen will be the new head of the world's most powerful central bank - the first woman to hold the position. The 67-year-old was Barack Obama's choice and she earned cross-party support in the bitterly divided chamber....

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Swiss Central Bank Loses £10bn On Gold Plunge

Switzerland's central bank has revealed losses of £10bn in its gold holdings, after prices for the precious metal plunged 28% last year. The Swiss National Bank (SNB) said the value of its reserves dropped by 15bn francs and as a result would not pay...

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Scottish Power To Cut Dual-Fuel Energy Prices

Energy firm Scottish Power is to reduce dual-fuel prices by 3.3% from January 31, as it passes on savings from the Government's green levy shake-up. The change will benefit 2.2 million households and reduce typical bills by around £42 to £1,199 a year...

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Economy: BCC Poll Indicates Stronger Recovery

Fresh evidence has emerged that Britain's economic recovery is set to strengthen further. The grounds for optimism came in a quarterly poll of 8,000 firms by the British Chambers of Commerce (BCC), raising expectations of continued increasing growth....

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Bank Regulators Kick Off Formal Co-Op Probes

By Mark Kleinman, City Editor Banking watchdogs are poised to kick off formal probes into last year's crisis at the Co-operative Bank in a move which could lead to significant fines or bans for former directors of the lender. Sky News understands...

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Oil Services Group Plots Giant Sale Bonanza

By Mark Kleinman, City Editor One of the biggest private equity casualties of the global financial crisis is drawing up plans to offload its biggest-remaining investment in a multibillion pound deal. Sky News has learnt that Arle Capital Partners,...

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Pay Cap Triggers Shares For Top 1000 At HSBC

By Mark Kleinman, City Editor HSBC is to hand new share awards to around 1,000 of its top managers as Europe's banks finalise plans to cope with new rules that will restrict the level of bonuses they can pay to senior staff. Sky News has learned...

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Car Sales Increased By Almost 11% In 2013

New car sales in the UK last year soared to their highest level since before the recession, according to industry figures. A total of 2,264,737 cars were registered in 2013, up by 10.8% on 2012, and the highest number since pre-financial crisis 2007....

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Co-Op: Regulator Stands By Flowers Decision

A senior City regulator has told MPs he stands by his decision to approve the appointment of disgraced former Co-op Bank chairman Paul Flowers, arguing it was "correct at the time". Clive Adamson, director of supervision at the Financial Conduct Authority...

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'Boss-Napping' Victims Freed After 30 Hours

Two bosses held against their will at a Goodyear tyre plant in France have been freed after police intervened. Workers had resorted to 'boss-napping' and taken the two men captive on Monday, inside a factory the company wants to close. But, on Tuesday...

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