Royal Bank of Scotland narrows proposals to buy 315 of its branches

Royal Bank of Scotland has narrowed a shortlist of prospective bidders for hundreds of branches it must sell, with JC Flowers and Apollo dropping out of the race, sources familiar with the matter said.

Cisco challenges Microsoft buy of Skype in EU court

BRUSSELS: Cisco Systems Inc, the world's leading network equipment maker, will try to convince Europe's second highest court on Wednesday that it should overturn the EU's approval of Microsoft's purchase of Skype.

EU quizzes telcos on Apple sales tactics against rivals

(Reuters) - EU antitrust regulators are seeking information whether Apple's iPhone distribution deals with mobile telecoms operators may be aimed at shutting out rival smartphones makers, in a move which could lead to a formal investigation into Apple.

RBS prepares succession plan for Hester

Royal Bank of Scotland is grooming Nathan Bostock, the state-backed lender’s restructuring boss, for the top job as part of long-term plans to replace chief executive Stephen Hester.

Ireland considering reform of corporate tax system: paper

DUBLIN (Reuters) - The Irish government is examining options to close a loophole in its tax system that has allowed multinational companies to significantly reduce taxes they pay on profits, the Sunday Business Post newspaper reported.

News Corp to take charge of up to $1.4 billion this quarter

News Corp said on Friday it will write down the value of its Australian and US publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations.

France won't force companies to cap executive pay

PARIS: The French government is trying to woo executives and entrepreneurs, amid concerns that it has antagonized the businesses needed to reinvigorate the economy.

European Union wants big companies to reveal national tax bills

BRUSSELS: Europe's top regulatory official is seeking to force large companies to disclose how much tax they pay in each country where they operate, a measure some politicians say could curb tax avoidance.

Nestle expands Singapore R&D amid Asia market growth

GENEVA: Swiss-based global food giant NestleBSE 1.20 % said Wednesday that it had expanded its research and development operations in Singapore, amid robust Asian market growth.

Royal Mail profits jump as parcel sales rise

Royal Mail's annual profits have more than doubled, helped by strong growth in parcel deliveries as more people shop online.

Apple to face tax grilling

The Apple chief executive is likely to be asked to justify why his company reports a 25.2 per cent tax rate, yet pays 15 per cent to the US authorities and then sets aside additional cash for possible future tax liabilities.

Yahoo 'to buy Tumblr for $1.1bn'

Yahoo's board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn (£725m; 857m euros), US media reports say.

Honda Returns to F1 Racing as Engine Supplier to McLaren

Honda Motor Co. (7267) will return to Formula One as an engine supplier to help develop its technology after exiting the racing series in 2008.

Sony investor Daniel Loeb urges company break-up

One of Sony's biggest shareholders has suggested that the Japanese firm should spin off up to 20% of its entertainment business and use the money to shore up its struggling electronics arm.

Big 4 US cellphone companies unite on anti-texting advertisement

NEW YORK: The four biggest US cellphone companies are set to launch their first joint advertising campaign against texting while driving, uniting behind AT&T's ``It Can Wait'' slogan to blanket TV and radio this summer.

Oil company offices raided in EU pricing probe

The offices of several firms involved in the oil market have been raided by European Commission officials.

Gas use up 18% on cold weather, British Gas says

Centrica, which owns British Gas, says gas use in the first four months of 2013 was almost a fifth higher than last year because of the cold weather.

UK's top companies condemned for prolific use of tax havens

The UK's 100 biggest public companies are running more than 8,000 subsidiaries or joint ventures in onshore and offshore tax havens, according to research published on Monday, raising fresh concerns about the full extent of corporate tax avoidance.

Chevrolet Corvette probed by US regulators for headlamp issue

DETROIT: US safety regulators said on Friday they have opened an investigation into possible problems with the headlights on General Motors Co's model year 2005 to 2007 Chevrolet Corvette sports cars.

Moody's downgrades Co-op Bank's debt rating to 'junk'

Ratings agency Moody's has downgraded the Co-operative Bank's debt rating to "junk" status, citing fears that it is vulnerable to potential losses.

Ford tells shareholders to be patient about stock price

WILMINGTON: The executive chairman of Ford Motor Co asked for patience from investors who pressed him about the company's languishing stock price at the automaker's annual meeting on Thursday.

Barratt says market 'most positive for five years'

Housebuilder Barratt Developments has said market conditions are "the most positive we have seen for five years".

Coca-Cola goes global with anti-obesity push; to make lower-calorie drinks

NEW YORK: Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world.

EU backs Apple in Google's Motorola patent move

BRUSSELS: EU anti-trust officials said on Monday that Google-owned Motorola was abusing its leading position in Germany's mobile phone market by filing a patent injunction against Apple over some core smartphone functions.

Firms rush to relocate in low-tax Britain

More than 40 multinational companies have inquired about relocating their headquarters to the UK because of the cuts in corporation tax.

Nigerian regulator aims to limit MTN mobile dominance

ABUJA (Reuters) - Nigeria's telecoms regulator has ordered South African mobile operator MTN to charge customers the same rate whether calling rival operators or other MTN users, in order to reduce its market dominance, it said on Friday.

RBS sees government stake sale next year as it posts quarterly profits of £826m

Royal Bank of Scotland has reported its best quarterly result in more than a year with a pre-tax profit of £826m and said it expects the goverment to be able to start selling its stake it the lender by the middle of next year or even earlier.

BMW profits fall on tougher European markets

BMW saw profits fall in the first quarter of 2013 after the carmaker suffered tougher trading in Europe.

Google faces fresh grilling by MPs over tax

Matt Brittin, head of Google's northern European operations, will be called again to face the Public Accounts Committee, along with its auditor Ernst & Young.

Gazprom profits fall 10 per cent in 2012

MOSCOW: The world's largest gas company Gazprom today reported $ 38 billion in net profits for 2012, the third-biggest profits of any global company, but the figure was down around 10 per cent from the year earlier due to falling sales and rising costs.