Ford Revs Up To Stem £3.7m Daily EU Loss

The Ford Motor Company has stemmed quarterly losses in Europe by 21%, but it is still losing £3.7m a day. It said $571m (£344m) was lost in the three months to the end of December. That figure was down from the £441m European loss in the third quarter,...

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Ikea Growth Contracts Amid Record Profit

Profit growth at Swedish home furnishing giant Ikea has contracted by nearly two-thirds, year-on-year. Net earnings increased by 3.1% in the 2012-13 financial reporting period, reaching €3.3bn (£2.7bn). But despite it being a record profit, the rate...

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Lloyds Cuts 1,390 Jobs Amid Strategic Review

Lloyds Banking Group is cutting 1,080 jobs and outsourcing another 310 roles, the company has confirmed. It said the losses are part of the strategic review, previously announced in 2011. The cuts affect the retail, risk, operations and commercial...

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Ed Balls Says Stronger Recovery Is Needed

Labour Needs Better Response To Economic Growth Updated: 4:50pm UK, Tuesday 28 January 2014 When does good growth turn bad? Statistics showing the UK economy is growing at the fastest rate since the financial crash have been met by a wall of warnings....

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iPhone Sales Drive Record Apple Revenue

The release of Apple's iPhone 5s and iPhone 5c have helped drive record revenue figures for the tech giant, the company's quarterly results show. Apple's revenues rose to $57.6bn (£34.7bn) for the last three months of 2013, which is a new quarterly...

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Honda: Japan's First Net Car Exporter From US

Honda has become the first Japanese carmaker to become a net exporter of cars from the United States. The company said it exported 108,705 vehicles from its production plants in the US last year while importing 88,537. The statistics cover vehicles...

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Cable Warns About Wrong Type Of Recovery

Business Secretary Vince Cable has warned that Britain's economic recovery could prove to be a "short-term bounce" if it is based on a housing boom. He made the comments on the eve of the publication of the latest GDP figures, which have shown the country's...

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Barclays Imposes Travel Ban As Jobs Axe Looms

By Mark Kleinman, City Editor Barclays has slapped travel restrictions on its staff around the world as part of a renewed cost-cutting drive that is expected to include hundreds of job cuts in the coming weeks. Sky News has learnt that Antony Jenkins,...

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Branson Targets Take-Off For US Airline Float

By Mark Kleinman, City Editor Sir Richard Branson has opened talks with banks about a flotation of Virgin America, his domestic US airline that moved into the black for the first time last year. Sky News has learnt that Virgin America is preparing...

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Economy Grows At Fastest Rate Since Crash

The British gross domestic product (GDP) figure for the fourth quarter of 2013 stood at 0.7%, with growth for the full year reaching 1.9%. Output for 2013 reached its fastest annual rate of growth for six years, according to the Office for National...

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