Business News

FTSE closes at 4170

Wed, 03 Dec 2008 17:55:35 GMT

The FTSE 100 index closed 47.1 points higher at 4170 after a positive opening on Wall Street.

More bargains as retailers feel the pinch

Wed, 03 Dec 2008 16:50:40 GMT

Stores such as Debenhams and Marks & Spencer are offering customers more big savings as the economic downturn continues to bite retailers.

Northern Rock pledges six-month reprieve

Wed, 03 Dec 2008 12:54:38 GMT

Northern Rock has pledged to wait at least six months before repossessing the homes of people who have fallen behind with their mortgage.

Drug giant Glaxo to cut 200 jobs

Wed, 03 Dec 2008 12:33:09 GMT

GlaxoSmithKline has announced that 200 jobs will be axed at its Barnard Castle factory in Durham.

Swap to euro claims denied

Wed, 03 Dec 2008 10:20:32 GMT

Business Secretary Peter Mandelson has denied he was responsible for suggesting the Government should consider adopting the euro.

Another 1% cut for interest rates?

Wed, 03 Dec 2008 09:32:17 GMT

Bank of England policymakers are gathering amid growing speculation interest rates are in line for another 1 per cent cut.

FTSE closes at 4122.86

Tue, 02 Dec 2008 17:44:50 GMT

The FTSE 100 Index was revived by financial stocks to close up 57.37 points at 4122.86.

BA in talks over Qantas merger

Tue, 02 Dec 2008 13:22:15 GMT

British Airways has said it is in talks over a potential merger with Australian rival Qantas.

Downturn hits Tesco sales growth

Tue, 02 Dec 2008 11:32:51 GMT

Tesco has revealed a 2 per cent rise in third-quarter UK sales, its lowest growth since the early 1990s.

Credit Suisse to cut 650 jobs

Tue, 02 Dec 2008 07:41:35 GMT

Swiss bank Credit Suisse has announced plans to cut 650 jobs in the UK.

Downturn claims 2,000 more jobs

Mon, 01 Dec 2008 23:16:26 GMT

Four high-profile firms have announced up to 2,000 redundancies just weeks before Christmas.

Bank 'to delay repossessions for six months'

Mon, 01 Dec 2008 22:56:12 GMT

Royal Bank of Scotland has announced it will give struggling homeowners at least six months before launching repossession action.

VAT reduction comes into force

Mon, 01 Dec 2008 19:42:57 GMT

A 2.5 per cent reduction in VAT which the Government hopes will provide a boost to the ailing UK economy has come in to force.

FTSE closes at 4065.5

Mon, 01 Dec 2008 17:30:42 GMT

The FTSE 100 Index slumped by 5 per cent to close down 222.5 points at 4065.5.

HSBC to axe more than 500 UK jobs

Mon, 01 Dec 2008 15:06:29 GMT

Banking giant HSBC is to axe more than 500 jobs in the UK, the Unite union has announced.

Mortgage lending dives to £459m

Mon, 01 Dec 2008 09:53:37 GMT

Net mortgage lending dived by nearly 70 per cent during October to just £459 million, the Bank of England has said.

Dragon Paphitis eyes Woolworths

Sun, 30 Nov 2008 11:52:58 GMT

Dragons' Den entrepreneur Theo Paphitis is rumoured to be eyeing collapsed high street chain Woolworths.

Wilkinson set to cut 1,500 jobs

Sun, 30 Nov 2008 09:11:02 GMT

Discount retailer Wilkinson may shed up to 1,500 jobs next year if it adopts a new stock supply system, the company has confirmed.

Price cuts tempt in customers

Sat, 29 Nov 2008 17:21:59 GMT

Price-cutting promotions and the upcoming VAT reduction are encouraging people back into the shops as retailers report brisk trading.

New bid to block HBOS takeover

Sat, 29 Nov 2008 11:31:59 GMT

A last-ditch bid to block the planned Lloyds TSB merger with HBOS has been launched.

FTSE ends at 4288

Fri, 28 Nov 2008 17:26:18 GMT

The FTSE 100 has ended the week in positive territory after a better week for battered blue chip stocks.

Annual house prices fall 10.1%

Fri, 28 Nov 2008 11:52:10 GMT

The annual rate at which house prices in England and Wales are falling continues to accelerate, statistics show.

Government takes 57.9% stake in RBS

Fri, 28 Nov 2008 08:20:05 GMT

The Government is taking a 57.9 per cent stake in Royal Bank of Scotland after investors snubbed a £15 billion share offer.

Woolworths calls in administrators

Thu, 27 Nov 2008 20:13:59 GMT

Thousands of jobs are under threat after high street giant Woolworths went into administration.

FTSE closes at 4226

Thu, 27 Nov 2008 18:08:30 GMT

The FTSE 100 Index rose nearly 2 per cent - up 73.4 points to 4226.