Google tests drone deliveries in Project Wing trials

Google has built and tested autonomous aerial vehicles, which it believes could be used for goods deliveries.

Tesco shares drop on profit warning

Shares in Tesco reached an 11-year low after the firm cut its full-year profit forecast to £2.4bn from £2.8bn.

Qantas reports record annual loss

Australia's national flag carrier Qantas has reported a net loss of 2.8bn Australian dollars ($2.6bn; £1.6bn) for the year to June - its biggest ever annual loss.

Russian food safety regulator shuts 5th McDonald's restaurant

MOSCOW (Reuters) - Russia's food safety watchdog has ordered the temporary closure of one of McDonald's restaurants in Yekaterinburg in the Urals region, the fifth such closure in recent weeks, the fast food chain said on Tuesday.

Hewlett-Packard recalls 6 million power cords over fire hazard

The recalled item, the LS-15 AC power cord, was distributed with Hewlett-Packard and Compaq notebook and mini notebook computers and with AC adapter-powered accessories such as docking stations, the commission said in a statement.

Lufthansa attempts to stave off German pilots' strike by urging talks

Lufthansa has asked the German pilots' union to return to talks as the airline tries to stave off another costly strike over changes to an early retirement scheme.

Burger King in Talks to Buy Tim Hortons

Burger King may be the home of the Whopper, but Canada may be the new home of Burger King.

Family Dollar rejects rival's $9.7bn takeover bid

Family Dollar, the US discount retailer, has rejected a $9.7bn (£5.8bn) bid from larger rival Dollar General. Family Dollar said the offer could face competition issues and "did nothing to address" the matter.

EDF to pay £3m for mishandling complaints from vulnerable customers

EDF has been ordered to pay out £3 million to benefit “vulnerable customers” after an investigation by the energy industry watchdog Ofgem found that the big six supplier had breached complaint handling rules.

US clothing store Gap to set up in India

US clothing store Gap is bringing its brand to India with the aim of opening 40 outlets, and it will launch the first two stores early next year.

Apple iPhone 6 suppliers 'struggling to get enough screens ready for launch'

Suppliers to Apple are scrambling to get enough screens ready for the new iPhone 6 smartphone as the need to redesign a key component disrupted production ahead of next month's expected launch.

Bank of America to pay $16.65 billion over mortgages

Bank of America (BAC)'s tab for the financial crisis is now nearly $74 billion.

HP's sales boosted by computer unit but profit falls

Computer giant Hewlett-Packard has reported a sharp fall in profit despite a rise in revenue helped by improved computer sales.

Macy's settles racial profiling allegations from shoppers

Macy's is to pay $650,000 (£390,000) to settle claims it racially profiled and detained ethnic minority shoppers at its flagship Manhattan shop.

Asda reports increase in sales and market share

Asda said sales for the last 10 weeks increased and the supermarket also improved its market share.

Bargain-hungry shoppers damaging supermarket sales

Supermarkets are grappling with their first significant fall in sales volumes since the second world war, according to analysts who warned shoppers' efforts to save money are having an "unprecedented effect" on the UK's major supermarkets.

Samsung and Apple 'growth to stagnate' as cheaper players enter smartphone wars

Technology giants Samsung and Apple’s seemingly unstoppable march to dominate the global smartphone market is to run aground and “stagnate”, ratings agency Fitch warned today.

HSBC awards 15 top bankers £7.1m in move to sidestep bonus rules

HSBC has given 15 of its top bankers “fixed pay allowance arrangements” worth £7.1m under a controversial new pay scheme designed to dodge tough new European Union rules on bankers’ bonuses.

Former Autonomy finance boss fights back in HP row

Computer giant Hewlett-Packard (HP) has been accused in a court filing of "mismanagement" in its 2011 takeover of UK software firm Autonomy.

Ofgem defends record of reform over big six energy firms' high prices

Ofgem has hit back at claims it may be partly to blame for high prices, after a group of former regulators said it had presided over a weakening of competition in the energy market.

US buyer of Boots ruled out tax dodge over fears of public anger

The US pharmacy giant Walgreens’ decision not to move its tax base overseas in its takeover of Alliance Boots saw $10bn wiped from its stock market value as investors reacted with dismay.

Co-op Group announces sweeping reforms

The Co-op has unveiled radical reforms to the way it is managed following a series of financial problems at the group. It will cut the number of board members from 18 to 11 and create a board of directors who have qualifications suited to running the business.

Malaysia Airlines: State fund proposes takeover

Malaysia's state investment firm Khazanah Nasional has proposed a "complete overhaul" of troubled national carrier Malaysia Airlines.

Japan Shame Index Dumps Sony Stock, Adds Panasonic

Sony Corp., the consumer-electronics maker that posted losses in five of the past six years, was rejected in the first reshuffle of Japan’s profit-oriented stock index while Panasonic Corp. made the cut.

Barclays to move 2.3m Isa savers

Barclays will shift 2.3 million savers on to a new Isa product with two-thirds of them getting a worse interest rate.

China to punish Audi, Chrysler for 'monopoly' acts

German luxury car maker Audi and Chrysler of the United States have committed "monopoly behaviour" in China and will be punished soon, the country's regulator said on Wednesday, as a probe of foreign auto firms grows.

Co-op sells farms business to Wellcome Trust for £249m

The troubled Co-operative Group has sold its farms business for £249m to health charity the Wellcome Trust.

Exxon Mobil sees profits jump 28%

Exxon Mobil, the US's largest oil and gas company, has reported a sharp rise in profits as it cut capital and exploration spending.

BA calls for global treaty to track surface-to-air missiles after MH17 crash

British Airways has called for an international treaty to track the whereabouts of surface-to-air missiles around the world in the wake of the downing of Malaysia Airlines flight MH17.

Sharp posts a 55% rise in operating profit

Japanese electronics maker Sharp has reported a 55% year-on-year increase in its operating profit for the April-to-June quarter, beating forecasts.

AstraZeneca Raises Forecast as Nexium Fee Boosts Profit

AstraZeneca Plc (AZN) raised its forecast after reporting quarterly profit that beat analyst estimates, helped by a $200 million payment from one-time suitor Pfizer Inc. for rights to a version of the Nexium heartburn treatment.