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News: Money

Pound Set for Tumultuous Week as Brexit Bill Goes to Parliament

Monday  06:35,   11 june 2018

The pound could be in for a wild ride as the U.K.’s Brexit bill goes to a vote in Parliament. Traders will be watching for signs of what kind of Brexit U.K. lawmakers will decide on, as well as how Prime Minister Theresa May is faring, with the[...]

Rolls Royce set to axe 1 in 4 jobs at historic base: White-collar cull will see 4,000 jobs axed this week

Monday  06:25,   11 june 2018

The cull of managers and administrative staff is expected to be announced at a meeting on Friday, when boss Warren East will speak to investors. Hardest hit will be the engineering giant’s base in Derby where most of its white-collar staff are[...]

WPP set for stormy annual meeting as Sorrell fallout continues

Monday  06:10,   11 june 2018

Sir Martin Sorrell left WPP, the company he founded more than 30 years ago, following allegations of personal misconduct. WPP carried out an inquiry into allegations that Sir Martin misused company funds, but the details of the investigation were[...]

Airline deals not on cards for TUI, says chairman

Sunday  16:15,   10 june 2018

Klaus Mangold said the travel giant does not have any acquisition or merger plans.Klaus Mangold told the Press Association that the company was unlikely to make deal headlines given that its charter airline arm has been undergoing its own overhaul – [...]

Mike Ashley writes down £11 million from his House of Fraser stake

Sunday  16:00,   10 june 2018

Ashley’s firm Sports Direct owns 11 per cent of the department store chain, whose fortunes have declined rapidly. Last week, it announced it was closing 31 stores.Ashley’s firm Sports Direct owns 11 per cent of the department store chain, whose[...]

Apax revs up interest in £1.7bn BCA

Sunday  15:35,   10 june 2018

A pack of private equity firms are circling the owner of the We‎BuyAnyCar website three years after it motored onto the London stock market. Sky News has learnt that Apax Partners, the London-based buyout group, is working on a potential offer to[...]

Cryptocurrencies Losing Real Money to 51% Attacks

Sunday  15:25,   10 june 2018

So-called 51% attacks have been launched against several popular digital coins resulting so far in losses of several million dollars. These attacks can be easy and cheap to launch and result in a big payday for thieves.One of the primary selling[...]

Fiona Phillips tells of her debt hell and Gaby Roslin recalls living on £5 a week as they prepare to front new savvy shopping TV show

Sunday  15:10,   10 june 2018

Fiona Phillips and Gaby Roslin have spoken of their pre-fame days of scrimping and saving ahead of their new TV show that encourages savvy shopping in UK shops.The pair will be teaming up to present an upcoming Channel 5 show, Shop Smart: Save[...]

U.K. Firms Must Justify Executive Pay Gaps Under Government Plan

Sunday  07:00,   10 june 2018

Large companies listed in the U.K. will have to explain the pay gap between bosses and employees under government plans to be submitted to Parliament on Monday. Firms with more than 250 staff on their books will have to publish and justify the[...]

U.S. Builds World’s Most Powerful Supercomputer

Sunday  07:00,   10 june 2018

It is called “Summit” and it is now the world’s most powerful supercomputer, according to the U.S. Department of Energy’s Oak Ridge National Laboratory. Summit performs calculations at an unprecedented speed: With a peak performance of 200,000[...]

Daisy founder dials up £1.6bn buyout

Saturday  16:30,   09 june 2018

The telecoms tycoon who founded Daisy Group has snubbed a sale to private equity firms in favour of a deal that will see him take full control in a deal worth over £1.6bn. Sky News has learnt that Matthew Riley, who left school aged 16 and founded[...]

Global stocks wobble ahead of tense G7 summit

Saturday  15:36,   09 june 2018

US President Donald Trump is expected to confront global leaders over trade.Theresa May has landed in Canada, but will not be meeting Donald Trump after he fired off a series of tweets about the European Union’s “unfair” trade[...]

Wates review to tackle private company pay

Saturday  15:31,   09 june 2018

Bosses of private companies such as Sir James Dyson and Sir Philip Green should take account of ordinary workers' pay when awarding themselves lavish remuneration packages, a government-commissioned report will say next week. Sky News has[...]

BT chief executive Gavin Patterson to step down later this year

Saturday  07:45,   09 june 2018

The telecoms giant said broader reaction to its recent results signalled a need for change.The telecoms giant said it has launched a search for his replacement and expects to have a successor in place during the second half of the[...]

City watchdog opens the door for £1.5 TRILLION London listing of oil giant Saudi Aramco with controversial rule changes

Saturday  07:20,   09 june 2018

Controversial new rules that would allow state-owned companies to sidestep key requirements for premium listings on the London Stock Exchange have been finalised by the FCAThe FCA's creation of a new category from 1 July will mean[...]