IMF Downgrades Global Growth In 2014 And 2015

The International Monetary Fund (IMF) has downgraded its global output forecast but says Britain will have "decent growth" this year and in 2015. It said global GDP for this year would drop from 3.4% to 3.3% and from 4% to 3.8% next year. The IMF...

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Clegg: Lib Dems Would Ask Rich To Pay More Tax

The Liberal Democrats would seek to increase taxes on the wealthy as part of efforts to reduce the deficit, Nick Clegg has said. Speaking to Sky News from the party's conference in Glasgow, the Deputy Prime Minister accused Chancellor George Osborne...

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Tesco Suspends Fifth Exec Over £250m Black Hole

A fifth Tesco executive has been suspended over a £250m black hole in its financial accounts. It is understood to be group commercial director Kevin Grace. Shares in Tesco were up more than 3% in mid-Tuesday trading, however they are down around...

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TPG Eyes £2bn Bid For Tesco Clubcard Arm

By Mark Kleinman, City Editor The private equity giant TPG is among a pack of suitors circling the marketing services group behind the rise of Tesco's pioneering Clubcard loyalty scheme. Sky News has learnt that TPG, which is one of the world's biggest...

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Samsung Pledges New Phones As Profits Drop 60%

Electronics giant Samsung has forecast a profit plunge of almost 60% in the last quarter but promised it would soon release a new range of smartphones with "innovative designs". The South Korean firm is struggling to maintain dominance in the ultra-competitive...

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Rio Tinto Rejects Glencore's £100bn Merger

Mining giant Rio Tinto has rejected a potential merger with key competitor Glencore, which would create the world's biggest commodities firm. Rio Tinto, which is based in Australia and Britain, said it had rejected a July approach from its Switzerland-based...

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Banker Pleads Guilty Over Libor Manipulation

A senior banker from a British bank has admitted conspiracy to defraud over the Libor manipulation. The banker is the first person in Britain to plead guilty to the offence. The person cannot be named for legal reasons. The Serious Fraud Office...

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HSBC Directors Quit In Protest At Jail Threat

By Mark Kleinman, City Editor Two directors of HSBC's UK arm are poised to quit in protest at new Bank of England rules that pave the way for lengthy jail sentences to be imposed on senior managers of failed lenders. Sky News can exclusively reveal...

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Yahoo Denies Shellshock Flaw Led To Hack Attack

Hackers have exploited a vulnerability to infiltrate Yahoo's servers - but the firm has denied it was the notorious Shellshock flaw and says no user data was put at risk. A report by Future South Technologies claimed Yahoo had failed to patch the...

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Which? Warning Over Smart Meter Costs

The Government has been warned over the potential cost of installing energy smart meters "spiralling out of control". Consumer group Which? has told Energy Secretary Ed Davey action must be taken ahead of the official roll-out next year. The £10.9bn...

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