RBS Deserts Dubai Over £6.7bn Refinancing Plan

By Mark Kleinman, City Editor The state-backed Royal Bank of Scotland (RBS) is resisting plans for a restructuring of one of Dubai's largest conglomerates, underlining the UK lender's rapid retrenchment from an ill-fated global expansion. Sky News...

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Wealth Gap Harms Countries' Growth - OECD

The growing wealth gap between the middle class and poor households is the single biggest factor affecting a country's economic growth, according to a new global report. The Organisation for Economic Co-operation and Development (OECD) said income...

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Athens Stock Exchange Drops 15% On New Fears

Athens Stock Exchange Drops 15% On New Fears We use cookies to give you the best experience. If you do nothing we'll assume that it's ok. Close The stock exchange in Athens is set for its biggest one-day fall since 1987 ...

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ASOS Booms In UK But Unravels Abroad

Online fashion group ASOS has seen a slowdown in its quarterly sales, as international purchases continue to contract. This comes on the back of the company being a big beneficiary of the online sales frenzy prompted by Black Friday and Cyber Monday....

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Tory Peer Says 'Poor Don't Know How To Cook'

A Conservative peer has said she chose the wrong words after suggesting hunger in Britain is caused by poor people being unable to cook. Baroness Jenkin was speaking at the House of Commons launch of the Feeding Britain report which calls for action...

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Interest Rates Rise: Will You Feel The Impact?

The Bank of England has signalled that thousands of households will have to cut back as they struggle to keep up with mortgage payments when interest rates start rising. The bank estimates that 37% of households will either need to work more or spend...

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Borrowers Could Handle Rate Rise, Says BoE

Home borrowers could handle rate rises, according to the Bank of England. Gradual increases would not have "unusually large effects" on household spending, it said. The bank does warn a rate rise to 2.5% would see the number of families struggling...

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Don't Panic: Bank Keen Not To Alarm Borrowers

Don't panic! That's the broad gist of the Bank of England's latest analysis on the impact of higher interest rates. And in case you were in any doubt, it has published a handy infographic explaining precisely why not. If interest rates rose by 2%,...

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Tesco Refuses Executives Appeal Over Sacking

By Mark Kleinman, City Editor A number of senior managers who left Tesco after profits were overstated by £263m have been told by the retailer that they have no right to appeal over their departures. Sky News has learnt that Tesco has informed lawyers...

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Top Executives Quit Woodford Funds Venture

By Mark Kleinman, City Editor Two of the executives who were instrumental in backing Neil Woodford, the UK's best-known fund manager, have quit his asset management start-up less than a year after its launch. Sky News has learnt that Nick Hamilton,...

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