After all, Mark Carney has gone and done it all over again. Having gained the nickname for his attempts to hint about where interest rates are heading and then later changing his mind, he did precisely that in the run-up to today’s decision. In February he offered up clear …
Read More »Bank of England keeps interest rate on hold
The Bank of England has left interest rates on hold at 0.5% and slashed its forecast for economic growth this year, but warned that borrowing costs may still have to rise in the coming months. Until a few weeks ago the Bank’s Monetary Policy Committee had been widely expected …
Read More »Gaucho closures threaten 750 Cau jobs
One of Britain’s best-known restaurant groups is poised to be added to an accelerating deluge of high street closures as Gaucho examines plans which could put more than 700 jobs at risk. Sky News has learnt that the Argentine steak chain has drafted in one of the “big four” …
Read More »BT to cut 13,000 jobs in cost-cutting plan
BT is to cut 13,000 jobs over the next three years as part of a restructuring plan to invest in ultrafast broadband and the next generation of mobile networks. Britain’s biggest telecoms operator, which announced 4,000 job cuts a year ago, said middle management and back office roles would …
Read More »RBS agrees £3.6bn settlement with US over mortgage probe
Royal Bank of Scotland agreed to pay $4.9bn (£3.62bn) to settle a US Department of Justice probe into its packaging and sale of mortgage-backed securities before the 2008 financial crisis The tentative agreement means the government-owned bank would need to take a $1.44bn charge in the second quarter to pay the …
Read More »Companies face action for failing to reveal pay gaps
Almost 500 UK companies that have failed to disclose details of their gender pay gaps will face legal action. Companies that did not comply with the new requirement to report pay gap details between their male and female staff are breaking the law, the Equality and Human Rights Commission …
Read More »Funding Circle hires Keers before £2bn float
Funding Circle, the UK’s biggest peer-to-peer lender, will this week take another step towards a £2bn London flotation by naming its first female non-executive director. Sky News understands that the company, which is targeting a listing soon after the summer, will announce that former O2 executive Cath Keers is …
Read More »Walmart buys $16bn stake in India's Flipkart
Walmart is entering the Indian online market by paying $16bn (£11.8bn) for a majority stake in one of the country’s leading web-based retailers. Walmart will buy a 77% stake in Flipkart, the US retailer’s largest-ever acquisition, as it attempts to shore up its international online sales ambitions against the …
Read More »BMW recalls 312,000 vehicles from UK roads
BMW has confirmed a second recall of thousands of vehicles from UK roads in just over a year, due to problems with the cars’ power supply. The German car giant said it had recalled 312,000 vehicles, including BMW 1 Series, 3 Series, the Z4 and its X1 petrol and …
Read More »Ex-Comet owner Opcapita vies for Homebase
The controversial former owner of Comet, the electrical goods retailer which collapsed in 2012, is among a pack of prospective buyers of Homebase, the struggling DIY chain. Sky News has learnt that Opcapita has tabled an offer for Homebase, which has been put up for sale by its Australian …
Read More »