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  • Gym Fees 'Could Stop Mortgage Approvals'

    Homebuyers could find themselves turned down for a mortgage because of their gym memberships, phone bills and pension payments, under new rules introduced this weekend, experts have warned. Mortgage advisers said new restrictions introduced under the Mortgage Market Review (MMR) would drastically increase the intrusiveness …

  • Canadian Fashion Tycoon Eyes Lehman F1 Stake

    One of the global fashion industry’s most successful entrepreneurs has become the latest tycoon to hold talks about investing in Formula One (F1) motor racing, even as the sport’s long-serving boss stands trial on bribery charges. Sky News has learnt that Lawrence Stroll, who has held the marketing rights to brands including …

  • 'China's Twitter' Owner Loses Licences Over Porn

    One of China's largest internet companies has had two of its licences revoked by the Government because of online pornography. Chinese state media announced the blocking of some of the output of Sina.com, which runs the Weibo social media site, among others. It followed the discovery of 20 articles and four videos containing …

  • Ethical Hackers 'To Target 20 UK Banks'

    The Bank of England will oversee the "ethical hacking" to rate the computer systems of more than 20 major banks and financial players. The newspaper quoted one unnamed insider as saying: "The UK is leading the world on this - it is groundbreaking stuff." Computer experts who attempt to breach online security for non-malicious …

  • GM Profit Skids To A Halt Due To Recalls

    General Motors (NYSE: GM - news) (GM) has seen its first-quarter profit plunge 85%, due to a series of vehicle recalls. GM, America's biggest carmaker, said net profit was $125m (£75m) for the first three months of the year. "The performance of our core operations was very strong this quarter, reflecting the positive …

  • Mt Gox Bitcoin Exchange Liquidation Ordered

    The failed Bitcoin exchange Mt Gox is to be liquidated after a Tokyo court ordered bankruptcy proceedings to proceed, it has been confirmed. "(I) will implement the bankruptcy proceedings, in which the assets of the bankrupt entity will be managed and converted into cash," said a statement by bankruptcy trustee Nobuaki …

  • Barclays Board Face Angry Shareholders At AGM

    Senior management of Barclays (LSE: BARC.L - news) bank have faced angry shareholders at the bank's annual general meeting, with its chairman forced to defend its bonus payments. Sir David Walker told shareholders there would be an exodus of top executives if it did not raise bonus levels. The meeting, held at London's …

  • Labour Looks At Breaking Ties With Co-op Bank

    Labour is considering breaking its historic links with the struggling Co-operative Bank. The party has confirmed it is "reviewing its financial arrangements", insisting it is for commercial reasons. It is reported Labour is looking to move loans worth more than £1m to the trade union-owned Unity Trust Bank. Co-op Bank …

  • F1 Boss Ecclestone In Court On Bribery Charges

    Formula One chief executive Bernie Ecclestone is in court in Munich at the start of his trial on charges of bribery. The trial could threaten his control of F1 and, if proven, could see him jailed for up to 10 years. Ecclestone, 83, is accused of paying a $44m (£26m) bribe to a German banker to  facilitate the sale of …

  • Eurotunnel On Track Amid Freight Truck Boost

    Channel Tunnel operator Eurotunnel (Paris: FR0010533075 - news) has kept its revenue rise on track, driven by a rise in shuttle train usage by trucks. Eurotunnel Group said income for the first quarter topped €260m (£220m), up 8% on the same period last year. Groupe Eurotunnel chairman and chief executive Jacques Gounon …

  • Gazprom Turns Up Heat On Kiev With $11bn Bill

    Russia's energy giant Gazprom (MCX: GAZP.ME - news) has hit Ukraine with a new $11.4bn (£6.8bn) gas bill - more than five times its original claim. Gas supply has become a key economic weapon used by Moscow against its near-neighbour amid EU claims it can divert supplies to Ukraine. The EU has also said it could take …

  • Budget Deficit Drops By 6% In Last Year

    The UK budget deficit has fallen to its lowest level since the financial crisis five years ago. Official figures from the Office for National Statistics (ONS) show the shortfall in tax revenues over Government spending fell to £107.7bn in the 12 months to the end of March. It was slightly lower than forecast by the Office …

  • Revealed: The 50 Streets With Slowest Broadband

    Wheatley Road in Corringham is in joint-last place with Erw Fawr, in Henryd, North Wales, with an average download speed of 0.6 Mbps. The fastest street is in Derbyshire - Loundes Road in Unstone gets an average download speed of 57.58 Mbps.

  • Travis Perkins Sales Up As Housing Market Warms

    Building supply firm Travis Perkins (LSE: TPK.L - news) has seen its first quarter like-for-like sales rise by 12.7%, after weaker trading in the same period last year. The Office for National Statistics said construction output fell to £5.8bn in February, down 2.8% from January. Chief executive John Carter said: "All …

  • Facebook Profits Triple As Apple Sales Jump

    A surge in advertising sales helped Facebook (NasdaqGS: FB - news) triple its profits in the first three months of 2014, the social networking site has revealed. The company posted a Q1 profit of $642m (£380m) on the back of a 72% surge in revenues, driven by mobile advertising. Facebook chief executive Mark Zuckerberg …

  • F1 Boss Ecclestone In Court On Bribery Charges

    Formula One chief executive Bernie Ecclestone has arrived in court in Munich at the start of his trial on charges of bribery. The trial could threaten his control of F1 and, if proven, could see him jailed for up to 10 years. Ecclestone, 83, is accused of paying a $44m (£26m) bribe to a German banker to  facilitate the …

  • Travis Perkins Sales Up As Housing Market Warms

    Building supply firm Travis Perkins (LSE: TPK.L - news) has seen its first quarter like-for-like sales rise by 12.7%, after weaker trading in the same period last year. The Office for National Statistics said construction output fell to £5.8bn in February, down 2.8% from January. Chief executive John Carter said: "All …

  • Barclays Attacked In Mystery 'Staff Letter' Sky News - Wed, Apr 23, 2014 22:30 BST
    Barclays Attacked In Mystery 'Staff Letter'

    A letter claiming to represent scores of disgruntled Barclays (LSE: BARC.L - news) employees made potentially damaging claims on Wednesday about poor staff morale just hours before the bank's board gathered for its annual meeting. Addressed to Sir David Walker, Barclays' chairman, the letter made allegations of an unjustified …

  • Ex-EMI Boss Nicoli Returns With New Music Gig Sky News - Wed, Apr 23, 2014 15:47 BST
    Ex-EMI Boss Nicoli Returns With New Music Gig

    Eric Nicoli, the former chief executive of EMI, is returning to the music industry as an investor in Tunehog, a service that aims to stand out from a crowded digital streaming market through technology which sonically 'maps' millions of songs. Mr Nicoli, the chairman of R&R Music, Tunehog's parent company, has been working …

  • Factory Orders 'At Their Best Since 1995' Sky News - Wed, Apr 23, 2014 15:22 BST
    Factory Orders 'At Their Best Since 1995'

    Manufacturing orders placed with factories have expanded at the strongest rate since 1995, a new survey has shown. The results come as the Bank of England said Britain's economic recovery was "building momentum". According to the Confederation of British Industry (CBI), its industrial trends survey showed that in the …

  • Primark Sees Profit Up 26% In Last Six Months Sky News - Wed, Apr 23, 2014 13:32 BST
    Primark Sees Profit Up 26% In Last Six Months

    Discount fashion chain Primark has seen its half-yearly operating profit rise 26% to £298m. Owner Associated British Foods (ABF) said its retail arm saw the surge in profit in the 24 weeks to March 1. Revenue in the period for Primark was up 14%, to £2.278bn. While like-for-like sales growth was 4%, its aggressive expansion …

  • Battle For Control Of Net Kicks Off In Brazil Sky News - Wed, Apr 23, 2014 13:23 BST
    Battle For Control Of Net Kicks Off In Brazil

    Now hundreds of government officials, technical experts and academics are meeting at the NetMundial conference in Sao Paulo to discuss who should oversee the worldwide web in future. China and Russia want the United Nations to have some say over how the internet is controlled, while the US and parts of Europe say it should …

  • Eurostar Gets Big Boost From Business Travel Sky News - Wed, Apr 23, 2014 12:47 BST
    Eurostar Gets Big Boost From Business Travel

    Cross-Channel train service Eurostar has seen a 7% increase in revenue in the first-quarter, boosted by a rise in business travellers. So-called leisure travellers were up 3% despite the fact that numbers last year were being boosted by an earlier Easter and foreign visitors. Eurostar chief executive Nicolas Petrovic …

  • Chinese Government Shuns 'Expensive' Windows 8 Sky News - Wed, Apr 23, 2014 11:44 BST
    Chinese Government Shuns 'Expensive' Windows 8

    The Chinese government will try to patch up the outdated Windows XP operating system -because it is too expensive to upgrade. Microsoft stopped providing security updates for the 13-year-old software earlier ...

  • Sports Direct Slams £73m Boss' Bonus Rejection Sky News - Wed, Apr 23, 2014 10:20 BST
    Sports Direct Slams £73m Boss' Bonus Rejection

    High street retailer Sports Direct (Frankfurt: A0MK5S - news) has slammed shareholders who failed to support a £73m bonus share scheme proposed for founder Mike Ashley. In early April, the company halted the proposed £73m bonus for Mr Ashley, its majority shareholder, after failing to gain sufficient investor support. …

  • Eight Renewable Energy Projects Get Go-Ahead Sky News - Wed, Apr 23, 2014 09:22 BST
    Eight Renewable Energy Projects Get Go-Ahead

    Plans for eight renewable energy projects - expected to generate enough clean power for three million homes - have been approved by the Government. Contracts for schemes including offshore wind farms and the conversion of coal-fired power stations to run on biomass, are set to support 8,500 jobs and attract up to £12bn …

  • Smartphones 'Too Slow' For London Transport Sky News - Wed, Apr 23, 2014 07:57 BST
    Smartphones 'Too Slow' For London Transport

    The use of smartphones for contactless payments on London's transport network will not be allowed until transaction speeds are dramatically increased. Transport for London (TfL) has modified its reader technology, however pilot programmes have shown the time taken for smartphones to process payments is still too long. …

  • Harley-Davidson Revs Up Quarterly Revenue Sky News - Wed, Apr 23, 2014 07:55 BST
    Harley-Davidson Revs Up Quarterly Revenue

    Harley-Davidson has seen its first-quarter earnings rise 18.7% amid a surge in motorcycle ownership and greater factory efficiency. The Milwaukee-based company said global sales of new motorcycles grew 5.8% in the first three months of the year as buyers snapped up its new models. The iconic American motorcycle manufacturer's profit …

  • Center Parcs' Term-Time TV Advert Banned Sky News - Wed, Apr 23, 2014 07:53 BST
    Center Parcs' Term-Time TV Advert Banned

    A TV advert for Center Parcs which "irresponsibly encouraged parents" to take their children on holiday during term time has been banned. The ad, which promoted four-night midweek breaks at the resorts and featured families with school-aged children, aired with a small print disclaimer warning the offer "excludes school …

  • Strike Trips Up Largest Sport Shoe Factory Sky News - Wed, Apr 23, 2014 07:52 BST
    Strike Trips Up Largest Sport Shoe Factory

    A strike at the world's largest sports shoe manufacturer has entered its second week, hampering production for global brands such as Nike (NYSE: NKE - news) and Adidas (Other OTC: ADDDF - news) . Employees at Yue Yuen Industrial (Frankfurt: YUE1.F - news) (Holdings) Ltd's massive factory in southern China have failed to …

  • GSK In £8.5bn Deal With Swiss Rival Novartis Sky News - Wed, Apr 23, 2014 07:43 BST
    GSK In £8.5bn Deal With Swiss Rival Novartis

    British drug giant GlaxoSmithKline (GSK) is to sell its oncology business to Novartis for $14.5bn (£8.5bn) and will buy the Swiss company's vaccines division. Novartis is expected to pay another $1.5bn ...

  • Curb Excessive Pay Or Face Action, Warns Cable Sky News - Wed, Apr 23, 2014 06:39 BST
    Curb Excessive Pay Or Face Action, Warns Cable

    The bosses of Britain's biggest companies have been warned by Vince Cable they must do more to curb excessive pay or face "further action". In a letter to the FTSE 100 Remuneration Committee chairs, the Business Secretary wrote that "excessive and disproportionate pay in the corporate sector damages popular trust in business". …

  • Barclays Pay Plans Receive Mixed City Verdict Sky News - Wed, Apr 23, 2014 00:26 BST
    Barclays Pay Plans Receive Mixed City Verdict

    Barclays (LSE: BARC.L - news) will this week suffer a sizeable City rebellion over its decision to hike bonuses last year while simultaneously receiving overwhelming shareholder backing for its future pay plans. Sky News has learnt that more than 90% of investors who have cast their votes in advance of this week's annual …

  • David Moyes Sacked: Man Utd Shares Rise Sky News - Tue, Apr 22, 2014 20:48 BST
    David Moyes Sacked: Man Utd Shares Rise

    David Moyes has been sacked as Manchester United (NYSE: MANU - news) manager, with Ryan Giggs taking over until the end of the season. A statement on the club's website said: "Manchester United has announced that David Moyes has left the club. Shortly after, it released another statement, saying: "Ryan Giggs, the club's …

  • David Moyes Sacked As Manchester United Boss Sky News - Tue, Apr 22, 2014 17:08 BST
    David Moyes Sacked: Man Utd Shares Rise

    David Moyes has been sacked as Manchester United (NYSE: MANU - news) manager, with Ryan Giggs taking over until the end of the season. A statement on the club's website said: "Manchester United has announced that David Moyes has left the club. Shortly after, it released another statement, saying: "Ryan Giggs, the club's …

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