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News: Money

Debit card payments overtake cash for first time after Britons use plastic for 13.2billion transactions in a year

Tuesday  05:05,   19 june 2018

There were 13.2billion debit card payments in 2017 – eclipsing the 13.1billion payments made in cash. This is the first time card use has outdone cash payments in the UK.The number of debit card payments overtook the number of payments made with[...]

Economists rubbish Theresa May's claim that boosted NHS spending will be funded by a 'Brexit dividend'

Tuesday  05:00,   19 june 2018

Theresa May announces plans for an extra £20 billion a year for the NHS. The prime minister said this will be partly funded by a "Brexit dividend". However, Paul Johnson, director of the Institute for Fiscal Studies, rubbished this claim[...]

Lufthansa may fly into Norwegian takeover tussle

Monday  19:57,   18 june 2018

CEO Carsten Spohr said that Lufthansa has made contact with Norwegian.Carsten Spohr said that Lufthansa has made contact with Norwegian amid talk of consolidation in the[...]

Bitcoin Could Break the Internet, Central Bank Overseer Says

Monday  17:45,   18 june 2018

The Bank for International Settlements just told the cryptocurrency world it’s not ready for prime time -- and as far as mainstream financial services go, may never be. In a withering 24-page article released Sunday as part of its annual economic[...]

Virgin Money takeover threatens 1,500 jobs

Monday  16:11,   18 june 2018

Virgin Money has agreed to be taken over by Clydesdale and Yorkshire Banking Group (CYBG) in a deal worth £1.7bn that could result in 1,500 job losses. The banks, which had until 5pm on Monday to strike an agreement, said the combined group would[...]

Does the Rubik’s Cube need a Bluetooth connection?

Monday  13:15,   18 june 2018

Kickstarter has once again risen to the challenge of making a smart device out of something that probably didn't need to be a smart device.Of course, that’s never stopped Kickstarter before, which has once again risen to the challenge of making[...]

P2P lender Ratesetter to hit £280m valuation

Monday  11:30,   18 june 2018

One of the UK's largest peer-to-peer lenders is in talks about a £30m fundraising that is expected to be a prelude to a long-awaited effort to join the London stock market.  Sky News has learnt that Ratesetter has kicked off talks with[...]

Melrose to kick off sale of £1.5bn GKN‎ unit

Monday  04:50,   18 june 2018

The industrialists who bought GKN, the British engineering group, in a controversial £8bn takeover this year are plotting the £1.5bn sale of one of its most valuable divisions. Sky News has learnt that executives at Melrose are drawing up plans to[...]

Coca-Cola mulls a bid for the 145-year-old malted milk drink maker Horlicks

Monday  04:50,   18 june 2018

Coca-Cola is believed to be considering a bid for malted milk drink maker Horlicks. It has held early talks with Horlicks owner GSK.It has held early talks with Horlicks owner GSK, which has put the 145-year-old brand under review as it tries to[...]

Comcast's bid for Sky cleared by European Commission

Monday  04:25,   18 june 2018

US cable giant Comcast's £22.1bn takeover bid for Sky plc, the owner of Sky News, has been cleared unconditionally by the European Commission. The decision removes the last regulatory hurdle that stood before Comcast as the bidding war for[...]

The joy of shopping: Five ways the high street can survive the e-commerce onslaught

Sunday  16:45,   17 june 2018

The future of retail is about social interaction. Customers want to be entertained, engaged and emotionally stimulated. Physical stores must enable consumers to have positive experiences. This may be done through creating an element of surprise for [...]

Relaxed lane shopping for those who need more time

Sunday  11:20,   17 june 2018

Sainsbury's is trialling a new relaxed shopping lane for those who need extra time to do their grocery shopping. The idea is being tested at the supermarket's Prestwick store in South Ayrshire, Scotland, and is aimed at people who suffer from[...]

Zero-interest credit-card offers pose a risk to lenders and could saddle them with losses, watchdog warns

Sunday  05:10,   17 june 2018

Officials at the Prudential Regulation Authority said that some banks are too optimistic about the long-term value of customers lured in by introductory 0 per cent rates. The criticism will be seen as a rebuke to the most enthusiastic providers of[...]

Trump announces 25% tariff on Chinese imports

Sunday  04:40,   17 june 2018

US president Donald Trump has announced a 25% tariff on $50bn in Chinese imports. The move will escalate the trade dispute between the world's two largest economies and deepen the trade war between the US and a host of others, including the[...]

'Shambles': Universal Credit 'is bad value for money'

Saturday  20:20,   16 june 2018

The government's Universal Credit system has not - and may never - deliver value for money, according to a public spending watchdog. In a highly critical report, the National Audit Office (NAO) says the single payment scheme may cost more than[...]