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Business News

Philip Green agrees 363 million pounds BHS pension deal with regulator

Britain's pensions regulator has agreed a cash settlement worth up to 363 million pounds with Philip Green, the former owner of collapsed department store BHS, it said on Tuesday.

Business

Pensions triple lock could push age past life expectancy

​The Work and Pensions Committee publishes research on the state pension triple lock and state pension age ahead of a Commons debate this afternoon.

Business

London Stock Exchange merger in doubt

The London Stock Exchange has all-but ended a planned merger with Deutsche Boerse to create Europe's biggest stock exchange.

Business

Esure expects healthy 2016 profits

British insurer esure Group Plc has said it expects 2016 group profit to be ahead of market expectations, helped by strong investment return.

Business

UK workers bottom in global rankings of wage growth

​The UK ranks 103 out of 112 countries for pay real wage growth since the financial crisis, according to a report by the TUC.

Business

UK workers do £33bn of unpaid overtime a year

Workers in the UK performed £33.6 billion worth of unpaid overtime last year.

Business

British Airways owner IAG to buy back shares after solid results

British Airways owner IAG (ICAG.L) reported an 8.6 percent rise in annual operating profit in line with expectations on Friday and said it would increase cash returns to shareholders through a stock buyback.

Business

RBS posts £6.96 billion loss in ninth straight year without a profit

Royal Bank of Scotland (RBS.L) reported a sharp rise in losses on Friday as higher misconduct charges and restructuring costs underscored the challenges facing the lender nine years after it was bailed out in the world's biggest bank rescue.

Business

John Lewis says 773 staff to be offered redundancy

John Lewis, Britain biggest department store group, said it was planning to cut hundreds of jobs in a reorganisation of its soft furnishings retailing business and changes to the way it operates its in-store restaurants.

Business

Unilever to review strategy

Anglo-Dutch consumer goods group Unilever said it was reviewing its options to drive shareholder value.

Business

Lloyds profit hits 10-year high

Lloyds Banking Group reported its highest full-year profit in a decade on Wednesday, as the taxpayer-backed bank nears a complete recovery from its crisis-era past.

Business

HSBC's 2016 profit slumps 62 percent

HSBC reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring.

Business

Britain failing on promises over boosting women's pay

Britain will fail to close the pay gap between men and women within a generation as promised without more flexible working, paternal leave, and encouraging women aged over 40 back to work, a parliamentary committee has said.

Business

PM determined to protect Vauxhall jobs

Prime Minister Theresa May will have a private conversation with the chief executive of Peugeot Carlos Tavares and is determined to protect Britain's car industry.

Business

RMT to ballot Night Tube drivers for strike action

The RMT union is to ballot Night Tube drivers for strike action and action over what they claim is a block on career progression which has been imposed by London Underground.

Business

Kraft walks away from 'friendly' bid for Unilever

U.S. food company Kraft Heinz Co withdrew its proposal for a $143-billion merger with larger rival Unilever Plc, raising questions about whether Kraft will turn its focus to another target.

Business

Amazon to create over 5,000 jobs in Britain in 2017

Online retailer Amazon is set to create more than 5,000 jobs in Britain this year, boosting its investment in the country once more even as it prepares to leave the European Union.

Business

PM to meet with Peugeot boss over Vauxhall fears

The chief executive of Peugeot manufacturer PSA Group will meet Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall.

Business

UK employers spending £6bn less on skills

UK employers spending £6 billion less on skills than the European average, according to a new report by the IPPR think tank.

Business

Council Tax incentive to report Liverpool fly-tippers

Mayor of Liverpool Joe Anderson has announced people could get their Council Tax free for a year if they report fly-tippers.

Business

Aegon reports better-than-expected profits

Insurer Aegon has reported a better-than-expected underlying pretax profit of $591 million for the fourth quarter, up 27 percent on the same period a year earlier.

Business