Business News

People reaching the age of 65 will no longer be forced to retire from October next year, under plans announced by the government.

UK house prices fell 0.5% in July, the Nationwide says, cutting the annual rate of house price inflation to 6.6% from 8.7%.

Satellite TV group BSkyB reports a sharp jump in profits, driven by new subscriptions, particularly for high definition services.

California governor Arnold Schwarzenegger declares a fiscal state of emergency, putting pressure on lawmakers to pass a budget.

Second-quarter profits at oil giant Royal Dutch Shell almost double after it completes a year-long restructuring programme.

Up to 60,000 people working in the public sector in Scotland could lose their jobs, according to an independent review commissioned by ministers.

The first High Street bank to launch in the UK for more than 100 years opens its doors for the first time.

Shares in AstraZeneca rise more than 4% after the drug company reports a rise in profits after strong sales of key drugs.

Mining giant Rio Tinto completes a deal with Chinese firm Chalco to enter a joint venture in West Africa.

BT reports what it describes as "acceptable" quarterly results, with profits sharply higher despite a fall in revenue.