BUSINESS

Just after restarting its PlayStation Store and announcing its new Vita handheld, Sony has posted a statement on its website confirming that the security breach claimed by the hacker group LulzSec on its pictures and entertainment website was authentic.

With Nintendo having just unveiled its latest console the Wii U, the company has posted a video showing a selection games consumers can expect to see in its launch line-up later next year.

With Nintendo only just having revealed its new Wii U console, despite a lack of firm information regarding the new console's technical spec, analysts and consumers are already questioning whether Nintendo has repeated its past mistakes with the Wii.

Fashion retailer New Look has reported a sharp dip in profits and sales in its full year results.

Shares in British banks were down on the FTSE 100 in morning trading after rating's agency Moody's suggested that Britain's triple A credit rating could be downgraded.

Last night at this year's E3 fans finally got a glimpse of Nintendo's new Project Cafe console, which as it turns out is actually called the Wii U.

British households will be hit with a rise in gas prices as Scottish Power became the first of the six major suppliers to disclose a new round of price increases.

Shares in Punch Taverns were up on the FTSE 250 in morning trading after the pub owner reported a rise in sales in the third quarter ended 28 May.

With Sony having just revealed its new handheld PlayStation Vita console, analysts and consumers alike have begun speculating about whether the Vita will be able to reverse the handheld console market's ailing fortunes.

Shares in HMV were up on the FTSE after the retailer announced that it had entered into revised term and revolving credit facilities of £220 million with its banks, replacing its existing bank facility of £240 million.

Shares in British banks were mixed on the FTSE 100 in afternoon trading HSBC was given an expression of confidence from Goldman Sachs.

LulzSec's recent claim of a new successful hack on Sony's networks has come just after Sony's public apology to fans at this year's E3 expo, leading to fresh speculation about whether the company will be able to recover from its recent PSN hacking nightmare.

With Microsoft's E3 press conference out of the way, the IBTimes wraps up the key products and services it chose to reveal and demo at this year's expo.

Shares in Synergy Health were up on the FTSE 250 in morning trading after the company reported a rise in revenue and pre-tax profit in the full year ended 3 April.

Last night as a part of its contribution to this year's E3 expo, not only did Sony announce the renaming of its portable NGP console, it also released the handheld's tech specs.

After yesterday hacking Nintendo "just for LulzDec", the hacker group has today released a fresh statement claiming to have successfully breached Sony's online security again.

After the an earlier report outlining Microsoft's plans for this year's E3, the company has since leaked information confirming that it will be revealing two new Halo games at the expo.

With E3 beginning with Microsoft's press conference in just a few short hours, the IBTimes takes a look at what fans should expect from Nintendo at this year's expo.

With this year's E3 kicking-off in just a few short hours, the IBTimes takes a look at what consumers should expect from tech-giant Sony at this year's expo.

With the games industry already weakened after April's attack on Sony's PlayStation Network, the hacker collective LulzSec have mounted a fresh cyber assault not just on Sony, but also game-development guru Nintendo, leading to speculation about a possible future assault on Microsoft.

Shares in easyJet were down on the FTSE 250 in morning trading after the budget airline reported a rise in passenger numbers but a drop in load factor in May.

With Microsoft's E3 press conference set to begin in just a few short hours, the IBTimes takes a look at the last minute updates and rumours surrounding the company's 2011 line-up.

Shares in British banks were down on the FTSE 100 in morning trading as state-owned banks reportedly began preparing for asset sales.

The "Welcome Back" free gifts Sony offered consumers as recompense for the near two month PSN outage is now available for all PlayStation 3 and PSP customers.

In the wake of the latest cyber attack on Sony's networks, one of the company's chief rivals Nintendo has confirmed that its network had recently been the target of a similar hacking attempt.

With Sony only just having gotten its PSN and PlayStation Store fully functioning, the hacker group LulzSec have released a statement claiming to have once again bypassed Sony's online security -- this time on one of its websites -- but, unlike the first PSN breach, it appears that a significant proportion of the general public have reacted with pity or even sympathy rather than anger.

It will soon be that time of the month again. Yes next week the Bank of England's Monetary Policy Committee will meet to determine interest rates, or to be more precise determine to hold interest rates.

Since search-giant Google confirmed a recent attack on its Gmail service, speculation about a possible security breach to the U.S. Government's network has arisen, with the Chinese Government once again being suspected of coordinating the cyber attack.

UK-based bookmaker Betfred has been chosen to buy the Tote after an auction process that began in November.