Facebook Targeted In 'Zero-Day' Hack Attack

Facebook has revealed it was the victim of a sophisticated attack by an unknown hacking group last month. The site's security was breached after a handful of Facebook employees unknowingly visited a website that had been compromised with malicious code....

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Home Ownership '£1,440 Cheaper' Than Renting

The cost of buying a home has become £1,440 a year cheaper than renting, according to new research. Halifax found the average monthly costs associated with buying a three-bedroomed house stood at £621 in December, which is £120 cheaper than the typical...

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Baked Beans Firm Heinz Sold For $28bn

The baked beans and ketchup maker HJ Heinz has agreed to a takeover worth $28bn (£18bn) in a move that could potentially effect thousands of UK workers. An investment consortium, which includes billionaire investor Warren Buffett, is behind the deal....

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2e2 Rescue Deal: Oakley Capital To Buy Chunk

By Mark Kleinman, City Editor Scores of jobs could be salvaged on Friday through a deal to rescue the data centre operations of 2e2, the collapsed IT services group. I understand that Oakley Capital, a private equity firm headed by Peter Dubens,...

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Republic In Administration As Website Shuts

Fashion retailer Republic has gone into administration and closed its website, putting 2,500 jobs at risk. The normal website was replaced with a headline saying "Site Unavailable", along with a message from the joint administrators.  Customers...

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BP Director To Chair Rolls-Royce

By Mark Kleinman, City Editor A former partner of McKinsey, the management consultancy, is poised to be named on Thursday as the next chairman of Rolls-Royce, the aircraft engine-maker. I can reveal that Ian Davis, who sits on the board of BP,...

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Horsemeat Crisis To Widen, Findus Backer Says

By Mark Kleinman, City Editor The management of Findus UK has been slow to react to the scandal over contaminated ready-meals and has dealt incompetently with the public relations aspects of the crisis, according to one of the company's main shareholders....

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UK To Avoid Triple-Dip Recession, Says CBI

Despite cutting its growth forecast for this year, the CBI has said that it believes the UK is in the clear when it comes to a triple-dip recession. However, the leading business body expects the UK economy will grow 1% in 2013, less than its previous...

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RBS Chairman: Stephen Hester's Pay 'Modest'

Stephen Hester, the chief executive of Royal Bank of Scotland (RBS) is doing one of the toughest jobs in world business and is being paid a "modest" salary compared to his peers, MPs have been told. Chairman of the bank, Sir Philip Hampton, said the...

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Barclays Boss Jenkins Sharpens Jobs Axe

By Mark Kleinman, City Editor Barclays is to axe thousands of jobs outside its investment bank as part of a streamlining of Britain's second-biggest lender under its new chief executive. The cull, which will come alongside roughly 2,000 previously-reported...

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Sir Stelios Threatens EasyJet Showdown

EasyJet founder Sir Stelios Haji-Ioannou has stoked up his increasingly bitter feud with the airline by vowing to vote against the company at its annual meeting later this month. The entrepreneur, who with his family holds 36% of easyJet's shares, will...

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Minister's Fear Of Horsemeat Scandal Scale

How Horsemeat Scandal Unfolded Updated: 9:29pm UK, Friday 08 February 2013 The horsemeat scandal has been unfolding for weeks and products have been flying off the shelves, although not in a good way. Where did it all begin? January 16 The Food Safety...

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Exclusive: Barclays To Shut Tax Advice Unit

By Mark Kleinman, City Editor Barclays is to close its controversial tax avoidance unit as part of a drive to distance the bank from the perceptions of a "casino" banking culture which flourished under Bob Diamond, its former chief executive. Sky...

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RBS Boss Hester Paid Bonus Despite Fine

The boss of the taxpayer-funded Royal Bank of Scotland will be paid a bonus of £780,000 just weeks after his bank was fined £39m for rate-rigging. Chief executive Stephen Hester will be given the bonus in shares next month as part of a reward scheme...

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