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

Treasury To Unveil 'Landmark' Bank Agreement

news.sky.com — Ministers will next week hail a "landmark" deal with Britain's nine biggest lenders to offer millions of consumers a new fee-free basic bank account. Sky News has learnt that the Treasury will announce on Monday that the banks will establish accounts which end charges - whcih can be as high as £35 per item - for failed direct debit or standing order payments.

Express Owner Desmond Hands £300k To UKIP

news.sky.com — The Daily Express owner Richard Desmond has agreed to donate £300,000 to UKIP, bolstering the party's war chest less than five months before the general election. Sky News has learnt that Mr Desmond pledged the money to help Nigel Farage, the UKIP leader, ahead of a poll which some political commentators believe could result in the party holding the balance of power at Westminster.

Express Owner Desmond Hands £300,000 To UKIP

news.sky.com — The Daily Express owner Richard Desmond has agreed to donate £300,000 to UKIP, bolstering the party's warchest less than five months before the general election. Sky News has learnt that Mr Desmond pledged the money to help Nigel Farage, the UKIP leader, ahead of a poll which some political commentators believe could result in the party holding the balance of power at Westminster.

MPs Summon FCA Bosses Over Insurance Probe

news.sky.com — Two City watchdog executives who were criticised on Wednesday over the disclosure of a probe into the insurance industry are expected to give evidence on the crisis to a powerful panel of MPs. Sky News understands that Clive Adamson, the Financial Conduct Authority's (FCA) director of supervision, and Zitah McMillan, its communications chief, are likely to appear before the Treasury Select Committee before Christmas.

Controversial RBS Arm Targets Jupiter Exit

news.sky.com — A hotel chain part-owned by Royal Bank of Scotland's (RBS) controversial property investment arm is being groomed for a sale that could value it at up to £100m. Sky News understands that Jupiter Hotels, which trades under the Mercure brand in the UK, is to be auctioned next year by the property agent CBRE.

FCA Bosses Face Second Bonus Blow Over Probe

news.sky.com — The City watchdog's top executives could have their bonuses withheld or reduced for a second consecutive year following a coruscating report on its handling of an inquiry into the insurance industry. Sky News has learnt that the Financial Conduct Authority's (FCA) board will review later this year whether the £3.8m cost of an independent probe into the regulator should be partly absorbed by variable pay awards.

Rutland Pounces On Ailing Serco's Waste Unit

news.sky.com — Serco, the embattled support services group, is close to agreeing the sale of its waste services arm as part of a restructuring under its new chief executive. Sky News has learnt that Serco chief executive Rupert Soames, Sir Winston Churchill's grandson, is in detailed talks to sell the unit to Rutland Partners, a specialist turnaround investor.

Top Executives Quit Woodford Funds Venture

news.sky.com — Two of the executives who were instrumental in backing Neil Woodford, the UK's best-known fund manager, have quit his asset management start-up less than a year after its launch. Sky News has learnt that Nick Hamilton, Woodford Investment Management's chief operating officer, and Gray Smith, the chief legal and compliance officer, resigned from the business on Tuesday.

Tesco Refuses Executives Appeal Over Sacking

news.sky.com — A number of senior managers who left Tesco after profits were overstated by £263m have been told by the retailer that they have no right to appeal over their departures.

RBS Deserts Dubai Over £6.7bn Refinancing Plan

news.sky.com — The state-backed Royal Bank of Scotland (RBS) is resisting plans for a restructuring of one of Dubai's largest conglomerates, underlining the UK lender's rapid retrenchment from an ill-fated global expansion.
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Dec 18, 2014

Exclusive: RBS loses fight with shareholders over £4bn lawsuit triggered by bank's mammoth rights issue in 2008. goo.gl/lIJy9m

Dec 17, 2014

My previous tweet misleading (apologies): Treasury may sell up to 5.4% of Lloyds over next 6 months, reducing taxpayer's stake to about 20%.

Dec 17, 2014

What that means in practice is that the Govt may sell its entire stake in Lloyds between now and June (subject to the 15% daily volume cap).

Dec 17, 2014

My understanding of Lloyds share sale is that it's not 15% of the Govt stake or the bank that could be sold, but 15% of daily volume.

Dec 17, 2014

Report also expected to say that he does not believe price which Royal Mail shares soared to on first day could have been set as IPO price.

Dec 17, 2014

Myners' report expected to say that Royal Mail IPO price range should have been revised up based on demand, but would have been risky move.

Dec 17, 2014

Report by former City minister Lord Myners due out tomorrow to make series of recommendations aimed at improving future asset sales.

Dec 17, 2014

Exclusive: Taxpayer lost out on Royal Mail sale by £180m rather than £1bn said by MPs, report by Lord Myners to say. goo.gl/Vy0uOv

Dec 16, 2014

Exclusive: WPP Group ends year-long chairman search with appointment of Roberto Quarta expected later this week. goo.gl/eePru8

Dec 12, 2014

The Old War Office on Whitehall used by Sir Winston Churchill has been sold to the Hinduja Group for conversion to hotel and apartments.

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