Business News
The power struggle
The price of power and who foots the bill for Britain's rocketing energy costs took centre stage as the oil giants unveiled huge profits and consumers were hit with more steep rises in prices from gas and electricity to air travel.
Inside Business News
Royal Mail calls for end to price controls after profits collapse
Friday, 9 May 2008
Royal Mail's chief executive, Adam Crozier, is to call for price controls in the market to be lifted after revealing that the company lost £200m on its regulated letters and parcels business last year.
Bank keeps interest rates on hold as fears grow of rising inflation
Friday, 9 May 2008
Fears of accelerating inflation as the price of commodities and foodstuffs continues to soar led the Bank of England to keep interest rates unchanged at 5 per cent yesterday.
City of Vallejo goes bankrupt after property crash hits taxes
Friday, 9 May 2008
The city of Vallejo, very briefly the capital of California in the middle of the 19th century, has returned to national prominence for a much less edifying reason: it is about to become the first city in the history of the state to file for bankruptcy.
Banks raise fees for current accounts
Friday, 9 May 2008
High street banks have put up fees for millions of current account customers after their High Court defeat over penalty fees for overdraft charges. Monthly fees for packaged accounts at Lloyds TSB, Royal Bank of Scotland and NatWest will rise by up to 20 per cent this month.
Warm weather helps to boost beleaguered Next
Friday, 9 May 2008
The clothing retailer Next saw sales fall sharply through the first months of this year but said that the improving weather had begun attracting people back to the high street, providing the first chinks of light amid the gloom afflicting the UK high street.
Dubai wealth fund eyes property group Minerva
Friday, 9 May 2008
Minerva, the property group long rumoured to have a string of suitors, is preparing for a potential takeover bid from the sovereign wealth fund Dubai World, which officially confirmed its interest yesterday, sending the shares soaring by almost a quarter.
Environmentalists battle to prevent search for oil in ancient South Downs landscape
Friday, 9 May 2008
Northern Petroleum, an independent oil and gas explorer, has sparked a controversy with environmentalists over its application to drill for oil in an unspoilt area of the South Downs.
FSA orders price comparison sites to provide accurate information
Friday, 9 May 2008
The Financial Services Authority has ordered insurance price comparison websites to overhaul their systems after identifying a string of failings that could mislead customers.
Mortgage recovery 'will take two years'
Friday, 9 May 2008
Building societies have warned that the mortgage market will take two years to return to normal.
Hedge fund SRM leads legal fight over Rock deal
Friday, 9 May 2008
SRM, the hedge fund that was Northern Rock's biggest shareholder, has joined forces with 150,000 small investors to mount a legal action against the Government over the nationalisation of the stricken bank.
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Most popular in Business
2 City of Vallejo goes bankrupt after property crash hits taxes
3 Royal Mail calls for end to price controls after profits collapse
4 Jeremy Warner's Outlook: Carphone faces up to DSG International
5 Banks raise fees for current accounts
6 The currency crunch: British tourists pay price for euro's strength
7 Honeymoon period runs out for Citigroup's new chief executive Pandit
8 Hamish McRae: Lower interest rates are no magic bullet, but given time they will work
9 The Investment Column: Investors can raise a glass to dependable drinks firm Diageo
10 Bank keeps interest rates on hold as fears grow of rising inflation
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