Regulator ‘not going soft’ on banks
Craig TaylorThe City regulator, the Financial Conduct Authority, is “not going soft on the banks”, its interim chief executive Tracey McDermott says. BBC News – Business
Business
VW sales fall for first time in 11 years
German carmaker Volkswagen reports its first drop in VW brand sales in 11 years as the company continues to cope with its emissions scandal. BBC News – Business
Marks and Spencer chief to step down
Marks and Spencer chief executive Marc Bolland is to step down in April, the company says, as it announces its Christmas results. BBC News – Business
Sainsbury’s bid for Argos firm rejected
Supermarket group Sainsbury’s says it made a bid approach for Argos owner Home Retail Group in November, but that the offer was rejected. BBC News – Business
Stock markets dive on China worries
US and European stock markets fall after a sharp decline in Chinese shares, while oil and gold prices rise as tensions increase in the Middle East. BBC News – Business
Cost of rail fares increases by 1.1%
The price of rail tickets in England, Scotland and Wales goes up by 1.1%, the lowest rise for six years. BBC News – Business