City editor of Sky News, City AM columnist and Charlton Athletic fan. London Press Club Business Journalist of the Year 2011.

Tesco Yet To Hand Finance Chief £1m Payoff

news.sky.com — Tesco has not yet handed over a near-£1m payoff to its former finance director just days before a deadline for the UK's biggest retailer to compensate him under the terms of his contract.

Lloyds To Cut 9,000 Jobs In Three-Year Plan

news.sky.com — Lloyds Banking Group is to cut approximately 9,000 jobs - equating to just over 10% of its workforce - as part of moves to automate consumer-facing services at the UK's biggest high street lender. Sky News has learnt that Lloyds will disclose plans for the cuts, which will take place over a three-year period ending in December 2017, alongside its third-quarter results next Tuesday.

Ministers Risk Controversy With NHS Sale Plan

news.sky.com — Ministers have begun exploring a sale of the main supplier of temporary staff to the National Health Service (NHS) in a move likely to revive political accusations about its creeping privatisation. Sky News has learnt that the Department of Health (DoH) has appointed Deloitte, the accountancy firm, to review options for NHS Professionals, the state-owned staffing agency.

Tesco Profit Shortfall 'Better Than Feared'

news.sky.com — A shortfall in half-year profits at Tesco which plunged Britain's biggest retailer into crisis is next week expected to be disclosed to have been smaller than initially feared. Sky News understands that the supermarket chain plans to announce alongside its first-half results on Thursday that it had previously overstated earnings by between £200m and £250m.

Virgin Money Delays Float Amid Market Chaos

news.sky.com — Virgin Money is extending the timetable for its £2bn stock market listing because of market volatility which has prompted the collapse of several high-profile City deals. Confirming a report by Sky News the bank, which is part-owned by Sir Richard Branson's Virgin Group, issued a statement on Friday saying that it will delay a plan to sell shares on the London Stock Exchange until after the end of this month.

UK Banks To Take Forex Fines Hit Within Weeks

news.sky.com — Some of Britain's biggest banks will set aside hundreds of millions of pounds in the next few weeks as they prepare to settle with regulators after a probe into the manipulation of foreign exchange markets.

Royal Mail Chiefs Deliver Plea For Reforms

news.sky.com — The chairman and chief executive of Royal Mail have implored the communications regulator to accelerate a review of postal markets or risk jeopardising its ability to deliver across the UK at a single fixed price.

Bank Raises Fixed Pay As Crackdown Looms

news.sky.com — Some of London's top bankers are being handed pay rises as European regulators demand restrictions on allowance awards which enable lenders to pay bigger bonuses. Sky News has learnt that Nomura, the Japanese bank which acquired the European operations of Lehman Brothers after its collapse in 2008, is poised to award backdated fixed salary increases to a handful of its most senior City-based employees.

Ex-RSA Executive Miles To Join Troubled Wonga

news.sky.com — The chairman of troubled payday lender Wonga is recruiting another former colleague from the insurer RSA as he accelerates the company's attempt to repair its battered reputation. Sky News has learnt that Paul Miles, the chief financial officer of Capquest, a debt recovery firm, is to take on the same role at Wonga.

RBS Lures Mastercard Boss For Payments Role

news.sky.com — The taxpayer-backed Royal Bank of Scotland (RBS) has lured the boss of Mastercard's British operation to overhaul its payments strategy following a series of failures which have left it exposed to potentially heavy financial penalties.
More Articles →
Oct 22, 2014

Exclusive: Lloyds Banking Group to cut 9000 jobs over three years, equating to 10% of workforce. Announcement next week. Full story up soon.

Oct 21, 2014

Exclusive: Tesco tapped up for multimillion pound investment to maintain stake in Asian e-commerce giant Lazada. goo.gl/r2NzYe

Oct 21, 2014

Exclusive: United Biscuits to name Thomas Cook chairman Frank Meysman as chair ahead of (increasingly unlikely) stock market listing.

Oct 20, 2014

Dept of Health responds to my story on NHS Professionals saying it is looking at "a range of options", though no specific comment on a sale.

Oct 20, 2014

Exclusive: Ministers court controversy as they revive potential plan to sell principal NHS temporary staff agency. bit.ly/1tEFnLr

Oct 17, 2014

Exclusive: Barclays, HSBC, RBS to follow US banks by setting aside large sums for FCA forex fines in Q3 results. bit.ly/1vFcj6x

Oct 17, 2014

@kevinlukemay @jeremyhead Er, because I reported it before it was announced. Keep up.

Oct 17, 2014

Exclusive: Virgin Money to extend timetable for public share sale amid choppy market conditions; deal is not being pulled. Statement soon.

Oct 17, 2014

Re Old Mutual/Quilter Cheviot deal, I understand the price was reduced as a direct consequence of recent market volatility.

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