IFS: Recession Has Hit Young Adults Hardest

Young people have "borne the brunt of the recession" with their pay and job prospects hit much harder than older generations, a leading economic think tank has said. The Institute for Fiscal Studies (IFS) found that among those aged 22-30 household...

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Citigroup To Pay $7bn Sub-Prime Mortgage Fine

Citigroup has confirmed it will pay $7bn (£4.1bn) to settle a US Justice Department investigation into sub-prime mortgages. The agreement was announced following weeks of talks between officials and the New York-based investment bank over the size of...

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Dot Scot: New Web Domain Is Launched

Scotland now has its own national domain name - and both the yes and no referendum campaigns have been among the first to sign up. Yes Scotland, Better Together, NHS Scotland and the Scottish government are among 50 businesses and organisations to use...

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Inflation Jump 'May Be Down To Good Weather'

Inflation rose by more than forecast last month - possibly driven by retailers delaying summer sales because of good weather. Figures released by the Office for National Statistics showed the annual pace of inflation rose in June to 1.9% from 1.5% in...

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Firms Fined In Sausage Price Fixing Scandal

The latest price-fixing scandal to hit Germany has seen 21 companies fined a total of €338m (£270m) for collusion on pricing its national dish - the humble sausage. The country's Federal Cartel Office (FCO), fresh from slapping a similar penalty on...

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eBay To Stream Art Auctions In Sotheby's Deal

High-rolling art collectors will soon be able to bid for iconic works on eBay. The site, renowned for selling everything from second-hand clothes to cheap electronics, has teamed up with auction house Sotheby's. An online streaming platform is being...

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Manchester United Sign £750m Adidas Deal

Manchester United have agreed a record-breaking £750m kit sponsorship deal wth Adidas after Nike walked away from contract extension talks. The 10-year agreement, starting at the beginning of the 2015/16 season, dwarfs the £150m deal over five...

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MPs Demand £22bn In Unpaid Debts Be Collected

A report by MPs has slammed the Government for failing to chase down at least £22bn of debts owed to the Treasury. The Public Accounts Committee was reacting to an earlier study by the National Audit Office which calculated, that of March last year, £15bn was...

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White House Ex-Press Chief Tipped For Apple Job

Apple is lining up former White House press secretary Jay Carney to take over as its head of PR, according to reports. Mr Carney would replace Katie Cotton, who stepped down from the position earlier this year. He worked as White House press secretary...

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Payday Loan Caps To Cut The Cost Of Borrowing

The City regulator is to impose caps on payday loans from January to tackle abuses in the quick-credit market, in a move set to cost the industry £420m of its annual revenue. The headline measure was a limit in the overall cost of a loan, which the...

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