|Bid||580.35 x 0|
|Ask||586.45 x 0|
|Day's range||577.25 - 587.35|
|52-week range||554.00 - 775.00|
|PE ratio (TTM)||15.33|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The American hedge funds which own the Co-operative Bank have kicked off a hunt for a new chairman as they attempt to rebuild the business in the wake of a £700m rescue deal. Sky News has learnt that Dennis Holt, who has chaired the company through a tumultuous three-year period, is to step down next year, shortly after his 70th birthday. Mr Holt's retirement will be the second major departure from the Co-op Bank's board since it was handed a lifeline during the summer by a consortium of bondholders.
Failure to complete a new customs system by the date of Brexit in 2019 will cause massive queues at Dover, a report has warned. The Public Accounts Committee warned it would be "catastrophic" if the system was not ready in time and there was no viable fall-back option in place. It said: "This is a programme of national importance that could have a huge reputational impact for the UK if it is not delivered successfully.
Multimillionaire Brexit donor Arron Banks wrote to Britain's Electoral Commission on Thursday to imply he was the subject of a politically motivated investigation amid speculation that Russia may have meddled in the 2016 referendum vote. In his letter, Banks said his campaign hired an accountant and an auditor, a lawyer oversaw all spending, and its returns were submitted after discussions with the election watchdog. The Electoral Commission, which is already looking at whether Banks' Leave.EU group received any impermissible donations, opened a new investigation last week into whether Banks was the true source of loans to a campaigner.
Jeremy Corbyn has suggested the Queen should apologise if her private estate invested £10m offshore to avoid paying tax in Britain. The Labour leader pledged to "come down hard" on tax avoiding companies and individuals after the "Paradise Papers" leak shone a spotlight on the financial affairs of the super-rich - including the monarch. Mr Corbyn was speaking after his colleague - shadow chancellor John McDonnell - said Theresa May has "questions to answer" amid reports that Tory donor Lord Ashcroft continued to avoid tax in the UK after it was believed he had given up his non-dom status.
Jeremy Corbyn has pledged to "come down hard" on tax avoiding companies and individuals after the "Paradise Papers" leak shone a spotlight on the financial affairs of the super-rich. The Labour leader was speaking after his colleague - shadow chancellor John McDonnell - said Theresa May has "questions to answer" amid reports that Tory donor Lord Ashcroft continued to avoid tax in the UK after it was believed he had given up his non-dom status. The leaked documents suggest Lord Ashcroft, who has given millions to the Tories, had a previously unknown offshore trust which at one point was worth over £300m.
The shadow chancellor has said Theresa May has "questions to answer" amid reports that Tory donor Lord Ashcroft continued to avoid tax in the UK after it was believed he had given up his non-dom status. Leaked documents - dubbed the "Paradise Papers" - suggest Lord Ashcroft, who has given millions to the Tories, had a previously unknown offshore trust which at one point was worth over £300m. Reports based on the documents suggest the former Conservative Party Treasurer retained non-domiciled tax status in Belize at a time when it was generally thought he had given up the status.
Ryanair has posted an 11% rise in half-year profits despite a rota blunder which saw thousands of flights scrapped. Passenger traffic rose 11% to 72.1 million but Ryanair said growth would slow to 4% in the second half of the financial year following the grounding of 25 aircraft. Ryanair said the " rostering failure " had prompted it to hike pilot pay, which it now says is 20% higher than that offered by rival Norwegian.
Banks will start taking "irreversible" decisions such as moving staff abroad if no Brexit transition deal is agreed by the end of this year, the head of the City watchdog has warned. Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), told MPs (BSE: MPSLTD.BO - news) that would be "the point at which these things start happening" as firms look to be ready for the UK's departure from the EU in March 2019. A report last year from consulting firm Oliver Wyman predicted that 65-75,000 financial services jobs could leave the UK due to Brexit - a figure understood to be viewed by Bank of England officials as one of a number of reasonable scenarios.
The boss of British Airways has dismissed claims - including from Chancellor Philip Hammond - that flights could be grounded if Britain leaves the EU without a divorce deal. Willie Walsh, the chief executive of British Airways' parent company IAG, expressed confidence an agreement on air travel will be reached even if there is a "no deal" Brexit. Speaking to MPs (BSE: MPSLTD.BO - news) on the House of Commons Transport Committee, Mr Walsh said: "The prospect of there being no flying between the UK and Europe, I don't agree with at all because it goes well beyond that.
Catalan president Carles Puigdemont's allies have filed a motion in the region's parliament to declare independence from Spain.
The UK is heading for a "Christmas disaster" if the Government does not back down over the six-week wait included in its flagship benefit reforms, MPs (BSE: MPSLTD.BO - news) from all parties have warned. The Work and Pensions Committee has issued an urgent report calling for ministers to cut the waiting time for claimants to receive their first Universal Credit payments. The committee welcomed the increased availability of advance payment loans but said they were "no solution to a fundamental flaw" in the design of Universal Credit.
Virgin Money is lining up a former HSBC executive as its next chairman in an appointment that will complete the only all-female leadership team among the UK's 350 biggest public companies. Sky News has learnt that the bank backed by Sir Richard Branson is close to naming Irene Dorner as Glen Moreno's successor. The appointment, which is subject to regulatory approval, is expected in the next few weeks, according to City sources.
Facebook (NasdaqGS: FB - news) boss Mark Zuckerberg has been urged to hand over details of activities by Russian-linked accounts during the EU referendum and this year's General Election. The request comes from a group of MPs (BSE: MPSLTD.BO - news) who are investigating the impact of "fake news" being circulated on social media. In a letter , Conservative MP Damian Collins told Mr Zuckerberg the House of Commons' Digital, Culture, Media and Sport Committee aims to uncover "the role of foreign actors abusing platforms such as yours to interfere in the political discourse of other nations".
The Bank of England has come under fire for a lack of diversity in top positions - and an influential group of MPs (BSE: MPSLTD.BO - news) may summon the Chancellor for a grilling over their concerns. Just one woman currently sits on the Bank's rate-setting Monetary Policy Committee (MPC), whose members are appointed by the Treasury. Nicky Morgan, chair of the Treasury Select Committee, has now written to Philip Hammond asking for evidence that enough is being done to encourage gender and ethnic diversity in recruitment.
Amazon and eBay have defended themselves as a report by MPs (BSE: MPSLTD.BO - news) accuses online marketplaces of profiting from VAT evasion. The Public Accounts Committee was particularly scathing of the taxman, saying HM Revenue & Customs (HMRC) had failed to get to grips with the scale of fraud, carried out by non-EU sellers on such sites. Its report said the traders' fast-growing and "illegal" practice of failing to charge customers VAT on goods housed in the UK was anti-competitive as it allowed them to undercut rivals by at least the 20% tax rate - putting UK retail staff out of their jobs.
Crown is accused of rigging machines to work in its favour while the whistleblowers also said staff were encouraged to use different ID cards for certain transactions to avoid the scrutiny of Australia's ...
Inflation rose to 3% in September, its highest level in more than five years, the Office for National Statistics (ONS) said. The Consumer Prices Index (CPI) measure of inflation rose from 2.9% in August thanks partly to higher food prices - adding to the squeeze on households as pay growth lags behind. It is the first time CPI inflation has reached 3% since April 2012.
Philip Hammond will restructure the tax system to make older people pay more and younger people pay less, it has been reported. The Chancellor is expected to link taxation to age for the first time in next month's Budget as part of an attempt to promote "intergenerational fairness", according to The Daily Telegraph. The Telegraph says tax breaks will be offered to workers in their 20s and 30s, and that will be paid for by cutting tax relief enjoyed by older and wealthier workers.
A Tory MP has voiced his support for the Chancellor after Philip Hammond described Brussels as "the enemy" in Brexit negotiations. Sir Bill Cash, MP for Stone, told Sky News: "I don't think that language is being used for the purposes of trying to enhance reputations. "I think it's actually a sense of frustration because everybody know that there's a war of attrition going on and every single time we re-open the negotiations, they come back and you hear (European Commission President Jean-Claude) Juncker saying there isn't sufficient progress.
The Chancellor has risked opening a major rift with Europe after describing Brussels as "the enemy" in the Brexit negotiations. Philip Hammond told Sky News that he understood emotions in the Government were running high, but urged his colleagues to stop squabbling and focus on the Brexit talks. The provocative language is a major departure for the Chancellor, who has hitherto been regarded by his European counterparts as one of the most moderate, collaborative participants in the Brexit talks.
The head of Britain's financial watchdog has admitted he met with Saudi Aramco over a potential £1.5tn stock market flotation in London. Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), held the talks before publishing heavily criticised rule changes that could attract a multi-trillion pound listing from the oil giant. MPs (BSE: MPSLTD.BO - news) and big-hitting City institutions have expressed concerns about the proposals, which would exempt state-controlled companies from stringent rules that apply to other "premium" firms.