UK Business News

Thrifty families are ‘prolonging recession’

The share of income saved in banks and building societies has risen to highest level in more than a decade, figures show

OFT quits legal battle against bank charges

Watchdog insists that it is still committed to reforming the personal current account market by other means

• Court decision leaves millions out of pocket

• How to reclaim bank charges

Lloyds fined $217m for sanctions breach

US Treasury fines Lloyds for hiding transactions for clients in Iran, Sudan and Libya in breach of anti-terror laws

Rio Tinto agrees $2bn Alcan packaging sale

Deal marks the next stage in the Anglo Australian miner's disposal programme to reduce debt after buying Alcan in 2007

World Business News

Copenhagen failure puts nuclear options at risk

Leading energy industry figures say that lack of agreement from UN climate summit undermines economic case

Iraq will double exports to China to satisfy oil thirst

In China, the world's second-biggest consumer, demand is growing rapidly, prompting a search for fresh sources of supply

• Opec wants lost revenue if oil use is cut

• China oil deals flow with $1bn acquisition

US house sales figures beat forecasts

Stock markets approach 14-month highs after strong housing market performance offset disappointment over lower economic growth

America looks for a renewable future

A solar plant in the Mojave Desert relies on thousands of mirrors focusing sunlight to heat water and drive a turbine

Analysis  

No evidence Britons can save the day

The British public seems to have lost the savings habit, and will do until the right products are introduced

• Time to get rid of the trash?

• Boards don’t need stardust

The inconvenient truth about climate change

Talks like those held at Copenhagen will continue to fail until we recognise that China is now in charge

Tempus: Bingo prospects improve 888's chances

Acquisition significantly enhances the company’s presence in the fastest-growing segment of the online gambling market

Law  

Law Society starts action over costs

The society has accused the Government of power misuse by preventing acquitted defendants from recouping costs

Lawyers grow rich on NHS negligence

The rise of no-win, no-fee actions has been blamed for more payouts ending up in the pockets of claimants’ representatives

• Loopholes skew system

• Lawyers get more than victims in NHS compensation scandal

BBC settles Trafigura case with £25,000 damages

The oil-trading company accepted the settlement over claims it caused deaths, miscarriages and sickness in Ivory Coast

Money  

OFT drops case against banks' overdraft fees

Watchdog will not pursue legal action but admits it is still concerned about high charges

• Dickensian ‘logbook loans’ to be banned

• Bank customers in line for £6bn refund

Pension projections are ‘too optimistic’

Savers in closed with-profit pension funds are being given optimistic assumptions as to what they will receive in retirement

• Retirement planning just got trickier

• Third company snubs government pension work

Where next for the soaring price of gold?

Half the fund managers recently surveyed said the precious metal was overvalued and would fall next year

business travel  

Eurostar services 'to operate normally' this weekend despite strike

Journeys on Friday and Saturday should not be disrupted despite union action over expenses

Hilton hikes Hhonors points for free nights

Hotel group goes against the recent trend of more generous guest loyalty programmes

Profile: Leisure boss John Morphet

The man who runs the estate where Freddie Flintoff and Wayne Rooney have homes shares his views on business travel