Exclusive: Banks Braced For Cash Bonus Cap

By Mark Kleinman, City Editor The two giant banks bailed out by British taxpayers in 2008 are preparing to impose a fourth consecutive annual cap on cash bonuses as they finalise staff payouts for last year. I have learned that executives at Lloyds...

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Exclusive: ShEx Boss In DECC Move

By Mark Kleinman, City Editor The man responsible for stewarding tens of billions of pounds-worth of state-owned assets and who oversaw the sale of the Government's stakes in the Tote and British Energy is to step down from his role. I can reveal...

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Morrisons Sees Sales Drop Over Christmas

Morrisons has revealed it had a "disappointing" Christmas period with like-for-like sales, excluding fuel, down 2.5% in the six weeks to December 30. The supermarket chain appears to have been the big loser in the so-called supermarket war over the...

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New Car Sales At Best Level Since 2008

New UK car registrations rose more than 5% in 2012, an increase that has taken the annual volume to its highest level since 2008. More than two million vehicles were registered, which is the largest recorded increase since 2001. The Society of Motor...

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VAT Evasion At Highest Level Since Start Of Crisis

Tax fraud has reached its highest level since the start of the financial crisis, a new study suggests. VAT evasion now accounts for 44% of all fraud and is costing Britain more than £3bn a year. - the equivalent to a 1p reduction of the effective rate...

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HTC Profit Plunges 91% In Smartphone War

HTC is losing the smartphone sales war, with its devices continuing to be outsold by Apple's iPhone and Samsung's Galaxy range. The Taiwanese firm, whose phones include the Butterfly, said net profit in the fourth quarter of 2012 had missed forecasts...

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City Jobs: New Posts Down Amid Weak Economy

The number of City jobs being created has fallen by more than a third, according to new figures. Just 35,115 posts were created in 2012 - down 35% on the 54,025 in 2011. In addition, around 800 new City jobs were available in December last year, compared...

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Google's Eric Schmidt Arrives In North Korea

Google's executive chairman Eric Schmidt has arrived in North Korea for the highest-profile visit by an American CEO since Kim Jong-Un took power a year ago. Mr Schmidt arrived on a commercial Air China flight with former New Mexico Governor Bill Richardson,...

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House Of Fraser Boasts Cracking Festive Sales

Online sales helped make it a bumper Christmas for House of Fraser which has posted record trading results for the festive period. The company said demand for fashion and beauty products pushed like-for-like sales up 6.3% in the six weeks to January...

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Exclusive: PPI Bankers Face Public Grilling

By Mark Kleinman, City Editor The bankers responsible for one of Britain's worst mis-selling scandals are to be interrogated publicly about the sales culture that artificially inflated industry profits by billions of pounds. I have learned that...

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