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Thai disaster costs Lloyd's $2.2bn

Wed, 15 Feb 2012 00:00:01 GMT

Thailand's worst flooding in 50 years last October will cost the Lloyd's of London $2.2bn (£1.4bn), the insurance market warned yesterday.

BHP and Rio bet on copper with expansion

Wed, 15 Feb 2012 00:00:01 GMT

BHP Billiton and Rio Tinto have announced plans to invest $4.5bn (£2.9bn) to expand the world's biggest copper mine.

Relief for households – and Bank – as inflation falls sharply

Wed, 15 Feb 2012 00:00:01 GMT

The Bank of England gained crucial ground in its battle to tame the soaring cost of living yesterday as inflation fell in January to its lowest level for more than a year.

Savers are starting to see a real rate of return at last as prices go into retreat

Wed, 15 Feb 2012 00:00:01 GMT

The fall in inflation below 4 per cent yesterday was hailed as long-awaited good news for savers, meaning there are now seven standard savings accounts paying out a real rate of return.

Pure Gym gets £15m injection to push roll-out

Wed, 15 Feb 2012 00:00:01 GMT

Pure Gym, the value gyms chain backed by New Look founder Tom Singh, has this month raised funding of £15m to drive its expansion.

Scourge of US bankers abandons plan to cash in on mortgate chaos

Wed, 15 Feb 2012 00:00:01 GMT

Phil Angelides, who chaired the US Financial Crisis Inquiry Commission (FCIC) and raged at bonus-obsessed bankers, has abandoned his plan to cash in on the chaos in the mortgage market, following a political outcry.

Intercontinental warms up for Olympics with big dividend rise

Wed, 15 Feb 2012 00:00:01 GMT

Intercontinental Hotels, the world's biggest hotel operator, beat City forecasts for its 2011 profits and accompanied that with a bumper dividend increase.

Bloomsbury set to start a new chapter as India market thrives

Wed, 15 Feb 2012 00:00:01 GMT

Publisher Bloomsbury is to set up a new business in India to take advantage of growing demand from the country's English-speaking middle class.

Big Six accused in costly tariffs row

Wed, 15 Feb 2012 00:00:01 GMT

Energy firms came under fresh fire last night after evidence came to light of them using dubious sales tactics to sell expensive tariffs.

Clegg's hope of tax cut for poor hit by bleak news on economy

Wed, 15 Feb 2012 00:00:01 GMT

Nick Clegg's hopes of faster tax cuts for low earners have been hit by the succession of grim news in the economy.

Eurozone leaders call off Greece talks as crisis deepens

Wed, 15 Feb 2012 00:00:01 GMT

The meeting of eurozone finance ministers that was meant to approve the bailout that Greece needs to avoid defaulting on its debts was called off last night.

Why Moody's gave the UK a 'negative' alert

Wed, 15 Feb 2012 00:00:01 GMT

Moody's said in its statement putting the UK on "negative watch" that one of the "key drivers" behind its decision was "the increased uncertainty regarding the pace of fiscal consolidation in the UK due to materially weaker growth prospects over the next few years".

Carlyle cashes in with ATMs sale to Japanese rival

Wed, 15 Feb 2012 00:00:01 GMT

The US private-equity firm Carlyle is set to almost double its money by selling UK cash systems and automatic teller machines business Talaris to a Japanese rival in a deal worth £650m.

Jaguar drives leap in profits at Tata

Wed, 15 Feb 2012 00:00:01 GMT

Tata Motors reported a stronger-than-expected rise in quarterly profit as robust sales at Jaguar Land Rover more than made up for weakness in its home market in India.

Aurora seeks to exit investment in luxury label Bastyan

Wed, 15 Feb 2012 00:00:01 GMT

The retail group Aurora Fashions has appointed advisers to sell its stake in the luxury womenswear label Bastyan after just two years.

Fiji carrier chooses Rolls-Royce engines for aircraft

Wed, 15 Feb 2012 00:00:01 GMT

The aero-engines maker Rolls-Royce has bagged a $210m (£133m) contract from Fiji's national airline, Air Pacific.

New fears for jobs at Peacocks

Tue, 14 Feb 2012 11:19:33 GMT

Thousands of staff at collapsed retailer Peacocks were facing further uncertainty today after it was reported that only one company remains in the race to salvage the firm.

Takeover by Vodafone could end the misery for CWW

Tue, 14 Feb 2012 00:00:01 GMT

Vodafone may put struggling Cable & Wireless Worldwide (CWW) out of its misery after the mobile giant admitted yesterday it was weighing up a bid for the corporate telecoms supplier.

Phoenix looks to sell toy developer Vivid for £80m

Tue, 14 Feb 2012 00:00:01 GMT

The owner of the toy developer Vivid Imaginations has hired advisers at KPMG to sell the company for up to £80m.

Aurum is sparkling as it ponders sell-off

Tue, 14 Feb 2012 00:00:01 GMT

The retail jewellery group Aurum Holdings has delivered a sparkling jump in operating profits as its owners mull a sale of the company.

Peppa Pig firm in a trough after sell-off plans fail

Tue, 14 Feb 2012 00:00:01 GMT

Nearly a fifth was lost from the market capitalisation of media firm Entertainment One yesterday after it ditched plans to sell the company, following offers that did not "adequately reflect" its value.

Lack of Heathrow flights 'damaging trade'

Tue, 14 Feb 2012 00:00:01 GMT

The boss of Heathrow airport warned yesterday that capacity constraints were "damaging the UK economy when the country can least afford it", after the number of passengers flying between the UK and China fell for a fourth consecutive month.

Scandal-hit Olympus looks at tie-ups as losses loom

Tue, 14 Feb 2012 00:00:01 GMT

The Japanese camera and medical equipment maker Olympus said today it expected to have lost ¥32bn (£260m) in the year which ends next month.

High yen and Thai floods hit growth

Tue, 14 Feb 2012 00:00:01 GMT

Floods in Thailand and a strong yen did heavy damage to Japan as the world's second-biggest economy floundered in the final quarter of 2011, official figures showed yesterday.

TUC says real jobless toll is 6.3 million

Tue, 14 Feb 2012 00:00:01 GMT

Unemployment could be as high as 6.3 million in the UK if a different counting measure was used, says a new report from the TUC.