Leighton In Talks To Become Co-op Chairman

By Mark Kleinman, City Editor Allan Leighton is in talks to become the first independent chairman of the Co-operative Group in a move that would herald a crucial stage in the mutual's efforts to reinvent itself after two years of crisis. Sky News...

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Greece In New Debt Deal Talks With Osborne

Greece's finance minister is due to meet British counterpart George Osborne, as Athens launches its drive to secure a new debt agreement. Yanis Varoufakis is in London after holding talks in Paris, where he compared Greece to "drug addicts craving...

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SUBC: Miliband Attacks Boots Boss Over Tax

Labour leader Ed Miliband has hit out at Boots chairman Stefano Pessina, saying British voters should not be "told how to vote by someone who avoids paying his taxes". The attack comes after the Monaco-based Mr Pessina said Mr Miliband's plans for...

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'No Justification' For Energy Prices - Report

The big six energy companies are failing to pass on price cuts in full - costing the average household £145 a year - a new report says. Which? said its research shows a failure to align retail prices with wholesale costs has seen consumers forced...

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Santander UK Profit Up 30% As It Trims Costs

High street bank Santander UK has seen its full-year pre-tax profit rise by 30%, as it continues to trim operating costs. The Spain-based parent company said profit at its British arm reached €2bn (£1.5bn) last year. The bank has operations in Spain,...

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BP Full-Year Profit Down 9.7% Amid Crude Slide

Oil giant BP has seen its full-year profit drop by almost 10%, amid a global slide in crude prices. It said the underlying replacement profit for the 12 months ending in December was $12.1bn (£8bn) against $13.4bn (£9bn) in the previous year. The...

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Tesco Lifts Suspensions On Ex-Bosses' Payoffs

Tesco has announced a lifting of the £2.1m pay settlement suspensions for its former chief executive and finance boss. In a statement, Tesco said it had agreed to pay ex-CEO Philip Clark almost £1.22m and Laurie McIlwee £970,880, as part of their...

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Ocado Sees First Profit Since Launch In 2000

Online grocery firm Ocado has reported its first annual pre-tax profit since it was launched in 2000. The company said in the year to November 30 its profit reached £10.1m. The figure was in line with expectations and comes on the back of a £3.8m...

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EU Starts Big Firm Tax Inquiry Into Belgium

Belgian tax arrangements for multinational firms are being investigated over claims of unfair state aid, it has been confirmed. EU Competition Commissioner Margrethe Vestager said Belgium's system may breach the existing rules. She said that it "appears...

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L&G And Schroders In £200m Regeneration Drive

By Mark Kleinman, City Editor Two of the UK's biggest fund managers are to commit £200m to an urban regeneration project that will underline such companies' growing emphasis on the deployment of 'slow money'. Sky News understands that the property...

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