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BUSINESS

Russian shares plummet as Western sanctions start to bite

Russian flag

Markets rounded on Russia today as Western sanctions sent shares in Moscow plunging and a second leading rating agency warned over the fallout of international isolation.

Grand Theft Auto

Video games industry to win long battle over tax breaks

Britain's video games industry has finally won its long battle for tax breaks, just days after hopes were dashed in the Budget.

UK Government doubles cost of visa scheme intended to lure foreign business

The Government has doubled the price of its flagship visa scheme aimed at encouraging international executives to do business in the UK.

MtGox finds £72m worth of Bitcoin it didn’t know it had

Bitcoins

Bitcoin exchange MtGox, which filed for bankruptcy protection last month, has found £72 million of the cryptocurrency down the digital equivalent of the back of  the sofa.

Borrowing figures give Chancellor George Osborne a post-Budget lift

George Osborne

George Osborne was given a post-Budget boost as public borrowing figures for February showed the Government remains on course to cut the deficit.

Superdrug owner’s London float scuppered by £3.4bn deal

AS Watson Superdrug

A £3.4bn deal between Asia’s wealthiest man Li Ka-shing and a Singaporean government fund has scuppered immediate hopes of a float for AS Watson.

Martin Weale warns Britain has less growth capacity than Bank of England forecasts

Bank of England

A senior member of the Bank of England’s rate-setting committee has warned that there is less slack for growth in Britain’s economy than has been forecast.

Candy Crush firm takes Facebook’s old offices

Candy Crush

The maker of the addictive Candy Crush Saga intends to double its presence in London by moving into Facebook’s old offices in Covent Garden, it emerged today.

Eurotunnel fury as ferries ban looks set to go ahead

Eurotunnel

Eurotunnel slammed the Competition Commission’s decision to bar the Channel Tunnel operator from running ferries on the Dover to Calais route.

City trader who tried to rig QE fined and banned

Credit Suisse

A leading City trader has been fined nearly £700,000 and banned for life for manipulating the price of government bonds.

Furnishers told to change cut-price offers

Carpetright shop

Carpetright and four other furniture and carpet retailers have agreed to change the way they make cut-price offers on their goods after a two-year investigation.

Modernisation of London Tube is 'most successful transport investment in a decade'

London Underground's Bond Street station

The multi-billion pound modernisation of the London Underground has been hailed as the most successful transport investment in the past decade.

Asda chief executive Andy Clarke: 'I won’t be tackled on price'

Rugby fan heads South bid to click with more of the capital’s Tube shoppers while fending off rivals' attempts to start a price war

Mining shines with Anglo’s 8% pay offer to end 2-month strike

Mark Cutifani

Anglo American had some rare good news in South Africa today as it made progress on ending a two-month strike at its platinum mines.

James Ashton: Spending, not saving, will save the UK economy

After a string of uninspiring budgets of spending cuts and tax-tinkering, yesterday will stick in the memory for the sweeping changes introduced for savers.

News in brief

Barclays bank

Direct Line boss Paul Geddes picked up a £2.4 million pay package last year as the insurer completed its first 12  months as a listed company.

City Spy: Royal London wrestles with Salmon idea, Glaxo boss gets full dose of adulation and Hayward looks out for the environment

Mud wrestling

Fancy getting together with colleagues in the Mud Wrestling room, brainstorming in the Tardis or having a performance review in Jam Roly Poly or Custard?

Intu taps the market to fund £870m Westfield malls deal

SSE

Intu sealed an £867.8 million deal with Westfield today for two new shopping complexes and a stake in one of its rival’s centres.

Russell Lynch: Osborne in running battle with a stubborn deficit

George Osborne

The Chancellor has been rewarded for pounding the pavements of St James’s Park and sticking to the 5:2 dieting fad with a newly svelte figure.

Anthony Hilton: Annuities applause - but a hidden hitch

Chancellor George Osborne delivers his Budget

We suggested that to solve the problem of poor-value annuities was to remove them, but without expectation that Osborne would take the hint.

BAE Systems fires warning shot over vote on Scotland to boost 'No' campaign

BAE Systems staff

Defence giant BAE Systems ended its silence on the risks to its business and thousands of employees if Scotland votes for independence.

Further questions for Bank of England on forex scandal

Bank of England

The BoE is under pressure amid reports that watchdogs have been handed a transcript alleging that it knew officials colluded ahead of foreign exchange fixes.

Simon Read: Budget 2014 - who are the winners and losers?

Goerge Osborne

Millions probably wondered when the economic recovery would trickle down to them when the Chancellor suggested in his Budget that the conditions were improving.

Peter Rees: The man who reshaped the Square Mile

"No two forces have had more effect on the London skyline than the Luftwaffe and Peter Rees,” says architect Ken Shuttleworth.

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Your credit rating explained

When you apply for a credit product such as a loan or mortgage, the lender will almost always conduct a credit check on you. This check draws on a number of different factors to produce a numerical score known as a credit rating. In general, customers with a higher credit rating are seen as representing a lower risk to the lender, and are more likely to be approved for credit.

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