The big banks are to set aside more than �1bn next week for new PPI mis-selling compensation, Sky News learns. 12:00pm UK, Tuesday 22 July 2014.
Credit Suisse Group AG said it will abandon commodities trading as a $2.6 billion fine to settle a U.S. tax investigation pushed the Swiss bank to its biggest quarterly loss since 2008.
... * FTSE 100 up 0.8 pct. * ARM surges after posting higher profits. * Tesco hit by brokers' price target cuts. By Sudip Kar-Gupta.
Cath Kidston, the British designer famed for her eponymous chintzy prints and accessories, has sold down some of her personal stake in the brand to finance expansion in Asia, targeting 100 stores in China.
The chancellor, George Osborne's hopes of weakening the UK's carbon budget for the next decade were quashed on Tuesday when Lib Dem energy secretary, Ed Davey, said the target would not be changed.