Hamleys sold to French toy group

17 September 2012 Last updated at 12:36 ET The 250-year old toy chain Hamleys has been taken over by a French toy retailer for a reported £60m. The chain, whose flagship store on London's Regent Street calls itself the biggest toy shop in the world, has a total of eight outlets in the UK and Ireland and stores around the world. The buyer, Groupe Ludendo, has 300 toy stores in France,...

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iPhone orders boost Apple shares

17 September 2012 Last updated at 11:59 ET Continue reading the main story Apple shares hit a new record high of almost $700, after the firm revealed it had received two million pre-orders in 24 hours for its iPhone 5. Most will be delivered to stores later this week, but due to high demand, some customers will not receive their new handsets until October, Apple said. The latest...

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HSBC to allow Post Office access

17 September 2012 Last updated at 07:57 ET HSBC is to allow customers to use the Post Office counter network for basic transactions following criticism by the government. Most UK banks, except for HSBC and Santander, allow customers to make withdrawals and deposits at post offices. A previous consumer minister last year accused the duo of "holding out" against offering the service....

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Bankrupts face account shut-out

17 September 2012 Last updated at 06:00 ET People recovering from bankruptcy will no longer have a choice over where they can access a bank account as Co-op withdraws from the market. Only the Co-op and Barclays offered accounts to those who are undischarged bankrupts - generally the 12 months after a bankruptcy order is made. The former has said it will no longer accept new customers...

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US in new trade spat with China

17 September 2012 Last updated at 05:17 ET US President Barack Obama is expected to file a new trade complaint against China, accusing it of illegally subsidising exports of cars and car parts. A White House official said China's actions were forcing US manufacturers to shift production overseas. "The key principal at stake is that China must play by the rules of the global trading...

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Wonga profits from loan demand

17 September 2012 Last updated at 04:54 ET Money lender Wonga has announced a sharp jump in profits, thanks to strong demand for credit during the downturn. Net profit more than trebled to £45.8m in 2011, from £12.4m in 2010. Revenue grew at a similar rate, to £185m. The number of loans made by the company quadrupled to almost 2.5 million, taking the total number of loans made since...

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India makes move to boost lending

17 September 2012 Last updated at 03:18 ET India central bank has lowered the amount of money that banks need to keep in reserve, in a bid to boost lending and spur domestic demand. The Reserve Bank of India (RBI) cut the Cash Reserve Ration (CRR) by 25 basis points to 4.5%. However, the bank left its key interest rate unchanged at 8%. The CRR cut, which will inject 170bn rupees...

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India party ministers may quit

17 September 2012 Last updated at 00:52 ET A key political ally is to meet on Tuesday to decide on whether or not to withdraw from the Indian government. The Trinamool Congress party has demanded that the government scrap its decision to open up India's retail sector to global supermarket chains. Separately, India's opposition parties have called for a nationwide strike on Thursday...

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Oil trading near four-month high

17 September 2012 Last updated at 02:45 ET Continue reading the main story Oil prices rose for the eighth session in a row, with Brent crude trading near a four-month high, boosted by the Federal Reserve's move last week to stimulate the US economy. The central bank said on Thursday that it would inject $40bn (£25bn) a month into the economy. Brent crude for November delivery...

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Economy may be recovering - Major

16 September 2012 Last updated at 08:11 ET Please turn on JavaScript. Media requires JavaScript to play. Sir John Major tells Andrew Marr UK economic recovery begins "from the darkest moment" The British economy may have passed its "darkest moment" and an economic recovery may be under way, former Prime Minister Sir John Major has said. He said falling unemployment...

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