Barclays rolls out face-to-face video banking

Barclays is to offer a “video banking” service that allows customers to have a “face-to-face” conversation with an adviser via their smartphone, tablet or computer, wherever they are in the world, whatever the time of day.

Malaysia Airlines Apologizes for Tweet, Posts Loss

Malaysia Airlines on Friday said its loss widened last quarter and apologized for a promotional tweet slammed as insensitive after two deadly passenger jet disasters this year.

Tesco executive under suspension leaves company

The BBC has learned one of the Tesco executives suspended by the company over the £260m profit misstatement has left the company.

SFO still not equipped to handle its most serious cases, report finds

The Serious Fraud Office was still not equipped to handle the most serious cases of corruption when it was last inspected last year, an official report has found.

HP earnings fail to impress investors ahead of split

Technology giant Hewlett-Packard's fourth quarter earnings failed to impress investors ahead of its big business split next year.

Amazon offers package collection at post offices

Amazon shoppers will be able to avoid missed deliveries in the runup to Christmas by collecting packages from their local post office.

RBS 'wanted critic Tomlinson's mortgage back'

A businessman who wrote a government report that criticised RBS has been told he can no longer remain a customer of the bank, Panorama has learned. In the 2013 report, Lawrence Tomlinson accused RBS of systematically wrecking viable businesses.

Apple $450 million e-book settlement gets final court approval

NEW YORK (Reuters) - A U.S. judge on Friday gave final approval to Apple Inc's (AAPL.O) agreement to pay $450 million to resolve claims it harmed consumers by conspiring with five publishers to raise e-book prices.

British Gas owner Centrica sees profits hit by mild weather

British Gas owner Centrica has reduced its earnings forecast, as milder winter weather cut into its revenues.

RBS fined £56m over 'unacceptable' computer failure

Royal Bank of Scotland (RBS) has been fined £56m by regulators after a 2012 software issue left millions of customers unable to access accounts.

Royal Mail says Amazon delivery service will hit its UK parcels business

Royal Mail shares slumped on Wednesday after the newly privatised postal service warned that its profits would be hit by Amazon launching its own delivery service.

Shell wins tax battle against Indian authorities

Oil giant Royal Dutch Shell has won a long-running court battle against Indian authorities over a tax dispute involving billions of dollars.

Post Office facing pre-Christmas strike action

Post Office staff who work in the company's supply chain have voted in favour of strike action over pay. The workers - who deliver and collect cash from post office branches - backed strike action by 76%, the Communication Workers Union (CWU) said.

Serco chairman to leave troubled government contractor

The chairman of Serco, the beleaguered outsourcing firm that has several contracts with the UK government, has announced he will leave the company.

Barclays may face massive new penalty over currency rigging

Barclays could face a huge new penalty for rigging currency markets after pulling out at the 11th hour from the settlement talks that led to £2.6bn of fines being slapped on six other big players in the currency markets.

Microsoft leapfrogs Exxon to become second largest firm

Energy giant Exxon has ceded its position as the world's second-largest public company to tech firm Microsoft, after concerns about the falling price of oil drove its shares down.

Virgin America shares soar on IPO as airline industry shakes off turbulence

Shares of Virgin America Inc, a low-cost airline partly owned by Richard Branson, soared as much as 28% in their market debut, underscoring the buoyant mood in an industry that is emerging from a long spell of turbulence.

Asda sees sales fall as 'shockwave' hits supermarkets

Sales at Asda have fallen, hit by what the retailer called "a shockwave" in the supermarket sector. Asda, which is owned by US grocery giant Wal-Mart, said sales at stores open more than a year were 1.6% lower in the third quarter, compared with the previous three months.

Sainsbury’s to splash out £150m on price cuts as it slumps to first-half loss

Sainsbury’s has slumped into the red after taking a one-off charge of £628m to pull out of building 40 new supermarkets and downgrading the value of 40 underperforming stores, just a year after writing off plans for 15 new supermarkets at a cost of £92m.

Apple to Fiat EU Tax Cases Should Be Finished Ahead of New Ones

The European Union should complete its four tax probes before it can “decide what to do next,” EU Competition Commissioner Margrethe Vestager said.

Serco shares plunge after it unveils plans to raise £550m

Outsourcing firm Serco's shares have plunged 32% after it unveiled plans to raise up to £550m through selling new shares and cut its profit forecast.

Twitter opening office in HK despite China ban

Social media giant Twitter has said it will open an office in Hong Kong in the first quarter of 2015. The messaging service has been banned from operating in China since 2009 over fears that it could be used to organise protests against the government.

Full investigation into the dominance of 'big four' UK banks confirmed

Britain's biggest banks face the prospect of being broken up by the competition regulator, in spite of warnings that this would be hugely expensive and hold back lending to the economy.

UK new car sales hit 2m mark

Britons have bought more than 2m new cars so far this year, following an unexpectedly sharp jump in sales in October.

Morrisons supermarket suffers another sales fall

Supermarket Morrisons suffered a 6.3% fall in sales in the three months to 2 November compared with a year earlier.

Toyota raises full-year profit forecast

Japan's biggest car manufacturer, Toyota, has raised its full-year profit forecast by 12.4%, citing a weaker yen and cost cutting efforts.

HSBC sets aside $378m for potential forex-rigging fines

HSBC has warned it is facing a $378m (£237m) penalty for rigging currency markets and a possible criminal investigation in France over alleged tax offences.

Samsung wobbles but stays its ground

Seoul (AFP) - Buffeted by sliding profits and emboldened competitors, mighty Samsung Electronics is looking unusually vulnerable these days, but analysts say its financial muscle and product diversity make "crisis" talk more than a little premature.

RBS reserves £400m for currency probe

Royal Bank of Scotland has set aside £400m to cover potential costs from an investigation into alleged manipulation of the foreign exchange market.

Sony reports a quarterly loss of $1.2bn

Japanese consumer electronics giant Sony has reported a net loss for the three months to September of 136bn yen ($1.2bn; £762m).

JP Morgan directors top income averages of investment banks

Investment banks may be cutting back on their trading activities but for those still in the market the money remains good – especially at JP Morgan.

BlackBerry CEO pens open letter ahead of Classic launch

TORONTO (Reuters) - BlackBerry Ltd Chief Executive John Chen penned an open letter to current and former BlackBerry users on Wednesday in a push to create some buzz for the company's new BlackBerry Classic device, which is set to debut later this year.

Retailer Next cuts profit forecast after warm weather

Retailer Next has cut its forecast for 2014 profit after a mild autumn reduced demand for winter clothing.

Tata Steel Starts Debt Clean-Up After Corus Purchase Mess

Saddled with $13 billion of debt seven years after buying Corus Group Plc, Tata Steel Ltd. (TATA) is seeking to pare its liabilities. Rating companies are pleased.

Tesco executives taken on back to basics mini-break

First he ordered managers back to the shop floor so they could “reconnect” with customers.

Big Macs go cold as young Americans drop McDonald’s for tastier rivals

It is not just the world’s biggest burger chain; it is also a global emblem of American consumer capitalism. But these days the golden arches of McDonald’s are looking a little tarnished.

Banana splits as Chiquita chops merger with Fyffes

Shareholders in banana company Chiquita have voted against a merger deal with Irish rival Fyffes. As a result, Chiquita will enter talks with Brazil's Cutrale and Safra following its $14.50 a share offer.

Energy firms ‘could cut £800m off household energy bill’ with 5% tariff cut

Britain’s householders could save more than £800m over the next 12 months on their energy bills if the big six suppliers took advantage of plunging wholesale power prices and cut their charges by as much as 5%, according to the founder of a price comparison website.

Microsoft profits beat expectations despite Nokia drag

Microsoft has reported a fall in profits as a result of costs related to job cuts and its purchase of Nokia's smartphone business earlier this year.

ASOS sets £2.5 billion sales target despite fall in profits

The boss and founder of ASOS was defiant in the face of a 14 per cent fall in profit as he set an ambitious target for £2.5 billion in sales.

Apple earnings beat expectations on strong iPhone sales

Apple reported third-quarter earnings of $8.47bn (£5.24bn), a 13% rise from the same period a year earlier, beating analysts' expectations.

Lufthansa pilots' strike expanded to long-haul services

A Lufthansa pilots' strike on Monday affecting mostly European flights has been expanded to include long-haul destinations on Tuesday.

Chevron makes FID on Indonesia deepwater gas project; delays 2nd stage

Oct 17 (Reuters) - Chevron Corp said on Friday it has made a final investment decision (FID) on the first stage of a deepwater natural gas project in Indonesia, but delayed a decision on the second phase of the multi-billion dollar project.

Virgin Money delays float amid global market turmoil

Virgin Money has pushed back plans for a £2 billion flotation following a week of market turbulence.

Apple unveils new iPads, releases OS X Yosemite

Apple (AAPL, Tech30) unveiled new editions of the iPad and iPad Mini at an event in California on Thursday, where it also announced that its new Apple Pay system will launch on Monday, Oct. 20.

Goldman Sachs profits leap 50% as bond market takes off

US investment bank Goldman Sachs has reported a 50% jump in third-quarter profit after a sudden jolt in bond market activity helped boost revenues.

Royal Mail sells central London sorting office for £111m

Royal Mail has sold its former central London sorting office next to Paddington station to a Singaporean consortium for £111m.

Burberry sees revenues rise despite 'difficult' environment

Burberry, the UK luxury fashion brand, has reported a 7% rise in revenue for the first half of the year despite what it described as a "difficult external environment".

Apple to blame for Finland's economic problems, prime minister says

Apple is to blame for the economic weakening of Finland, the country’s prime minister suggested in an interview on Monday morning.

Exxon owed $1.6bn by Venezuela for 2007 nationalisation

Venezuela must pay oil giant Exxon Mobil $1.6bn (£1bn) in compensation for expropriated assets, an international arbitration tribunal has decided. Exxon had claimed up to $16.6bn over the nationalisation of its Cerro Negro Project and other losses in 2007.

Passed their use-by date? The businesses Tesco could sell

Tesco’s fleet of corporate jets is up for sale and Dunnhumby, the data mining empire behind its Clubcard loyalty scheme, could also be up for grabs as the troubled supermarket group’s new boss Dave Lewis looks for ways to shore up the supermarket giant’s finances.

Microsoft's Nadella sorry for women's pay comments

The boss of Microsoft, Satya Nadella, has apologised for remarks he made advising women not to ask for a pay rise but to have "faith in the system".

European commission to probe Amazon’s tax status in Luxembourg

The European commission has widened its investigation into the tax treatment of multinationals, opening a formal investigation into whether online retailer Amazon’s complex tax arrangements in Luxembourg are so generous as to amount to state aid for the $146bn (£90bn) group.

Nokia to suspend production at India handset plant

Nokia plans to suspend production at its mobile phone factory in India because of an unresolved dispute with the country's tax authorities.

iPhone 6 and budget rivals hit Samsung profits

Profits at Samsung, the world’s biggest smartphone maker, collapsed in the third quarter as cheap Chinese brands ate into its share of the budget market and Apple’s iPhone sliced away at the top.

Hewlett-Packard to split into two companies

Technology giant Hewlett-Packard, known as HP, is to split itself into two separate companies.

Easyjet revenues boosted by Air France strike

Shares in Easyjet have risen after the airline said it had benefited from a strike at Air France, as passengers switched to the no-frills carrier.

Tesla Said to Add Popular Automated-Driving Functions

Tesla Motors Inc. (TSLA) will make its first foray toward automated driving with a suite of new high-tech features including one that can keep the car in its lane, said a person familiar with the carmaker’s plans.

Senator: JP Morgan data breach is threat to US national security

The massive data breach at JPMorgan, which compromised the personal information of 76 million households, is "an invasion of the US financial system" and a threat to American national security, a leading senator has warned.

Warren Buffett: Tesco shares 'a huge mistake'

Billionaire investor Warren Buffett has described his decision to invest in Tesco as a "huge mistake".

Japanese broker makes £380bn ‘fat finger’ trade

Japan avoided the biggest of all “fat finger” meltdowns on Wednesday when an unidentified large stockbroker managed to cancel rogue trades worth more than the size of Sweden’s economy.

Microsoft unveils Windows 10 operating system

Microsoft has announced that Windows 10 will be the name of its next operating system (OS). The choice is a surprise bearing in mind it represents a jump from the last version - Windows 8.

EU to accuse Apple of taking illegal tax aid from Ireland, reports say

The European Union will accuse Apple of taking illegal aid from the Irish state through sweetheart tax deals over two decades, the Financial Times reported on Monday.

BlackBerry looks to long turnaround despite sliding sales

BlackBerry posted a net loss of $207m (£127m) in its second quarter as it revealed that revenues are continuing to fall, just days after launching a new handset.

Ford recalls 850,000 cars with airbag fault

US car giant Ford says it is recalling about 850,000 cars in North America over a "potential issue" with airbags.

Apple says bent iPhones are 'rare'

Apple has responded to claims that its new handsets are prone to bending by saying such damage would be "rare" during normal use.

Japanese probe comes up empty on Boeing Dreamliner's battery problems

TOKYO: The Japanese probe into a battery problem that forced the emergency landing of a Boeing Dreamliner last year wrapped up today with investigators saying they still haven't found the root cause.

RBS cuts price for Citizens Bank sell-off in US

Royal Bank of Scotland has been forced to cut the price for the flotation of its Citizens Bank business after investors expressed doubts about the US bank’s potential profitability.

Barclays fined £38m for putting clients' assets 'at risk'

Barclays has been fined a record £38m by the City regulator for failing to keep its clients' assets separate from its own.

Tesco suspends execs as inquiry launched into profit overstatement

Tesco has suspended four executives, including its UK managing director, after the supermarket overstated its half-year profit guidance by £250m.

Apple voted United Kingdom's coolest brand as Twitter slumps

Apple has retained its title as the coolest brand in Britain for the third year running but Twitter has fallen out of favour to make way for rival Instagram, according to an annual survey.

Microsoft cuts another 2,100 jobs as it nears 18,000 target

Microsoft has confirmed another 2,100 redundancies as part of a plan to cut 18,000 jobs, some 14% of its workforce.

Vodafone to buy 140 Phones 4u stores

Vodafone has agreed to buy 140 Phones 4u stores, saving almost 900 jobs at the stricken retailer. The mobile phone operator said it had no plans to cut staff in the stores and that all 887 employees at the outlets would be kept on.

UK retail sales boosted by vacuum cleaner sales

UK retail sales rose by 0.4% during August, helped by shoppers looking to snap up high-powered vacuum cleaners ahead of an EU ban on the products.

Sony counts cost of smartphone failures with £1.3bn projected loss

Sony will not pay a dividend for the first time in its 56-year history as a public company after it warned that troubles at its smartphone division will push it into an annual loss of more than ¥230bn (£1.3bn).

Alibaba raises price of share sale as demand increases

Chinese online giant Alibaba has increased the price range of its initial public offering (IPO), meaning it could raise more than $25bn (£15bn) when it lists in New York.

Small business economic confidence grows

Confidence among small business continues to improve, according to a survey by the Federation of Small Businesses (FSB). Its regular quarterly survey showed three-fifths of firms expect to grow in the next 12 months.

Apple keeps customers happy – and paying a little more each year

Does the wisdom of crowds apply to Apple? Because there is a large crowd of people who hate it. But usually with American companies that make huge amounts of money – such as mobile carriers or TV companies – the hatred comes from their own customers.

Virgin Money preparing for IPO after appointment and profits quadruple

Sir Richard Branson and the US billionaire he bought Northern Rock from the government with are preparing to float the operation, rebranded as Virgin Money, in a move that could value it at up to £2bn.

RadioShack seeks rescue and warns of bankruptcy

US electronics retailer RadioShack has said that it is in talks to restructure the firm but warned that if an investment is not secured soon, it could be forced to declare bankruptcy.

RBS will leave Scotland if voters back independence

Royal Bank of Scotland has drawn up plans to shift its head office from Scotland – where it has been based since 1727 – in the event that next week's referendum backs a break away from the rest of the UK.

BP urges Scotland to vote against independence

BP, one of the North Sea's biggest investors, has urged Scotland to vote against independence next week, arguing that oil wealth would best be protected by remaining inside the UK.

Apple unveils watch and new iPhones

Apple has unveiled a smartwatch - the Apple Watch - its first new product line since the first iPad and the death of Steve Jobs.

'Big six' energy firms lose further market share

Britain's big six energy companies are continuing to lose market share to smaller independent suppliers, new figures show.

Apple doesn't need another charismatic leader. It needs Tim Cook

Steve Jobs always had his "one last thing" – the hotly anticipated moment at the end of presentations when he would reveal the latest innovation to Apple's adoring fans.

Volkswagen to invest 1 billion euros in Thai plant - Wirtschaftswoche magazine

FRANKFURT (Reuters) - Volkswagen plans to invest 1 billion euros (0.80 billion pounds) to build a new manufacturing plant to produce fuel efficient cars in Thailand, a German magazine said on Saturday.

HP alleges Autonomy email warning of falling revenues and 'imaginary deals' shows fraud

Hewlett-Packard has made public an internal email from the former chief financial officer of Autonomy to its founder Mike Lynch warning of revenues falling away that had been “covered up”, and of sales staff chasing “imaginary deals”.

Standard Life shares jump 10% on sale of Canadian business

Shares in Standard Life rose 10% on news it is selling its Canadian unit to Manulife Financial for $4bn Canadian dollars ($3.7bn; £2.2bn) in cash.

China Targeting Foreign Companies, American Chamber Says

China is targeting foreign companies with opaque laws and rules, according to a group representing U.S. businesses there, contributing to a deteriorating environment for investment in the nation.

Heineken sells Mexico packaging unit to US firm Crown

Heineken has sold its Mexican packaging business to US firm Crown Holdings in a deal worth $1.23bn (£740m).

Barclays sells Spanish businesses

Barclays Bank has agreed to sell part of its Spanish business for £633m to the country's third largest lender CaixaBank.

Malaysia Airlines cuts 6,000 jobs

Malaysia Airlines is to slash its staff numbers by a third, cutting 6,000 jobs, after the airline suffered the two worst disasters in modern aviation only five months apart.

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.

Bupa calls for 15% industry price cut

Britain's biggest private healthcare company has told the BBC that it is charging its own customers too much money and that the industry needs to urgently rethink how it sets prices.

U.S. regulators looking into UBS, Deutsche Bank speed trading operations

(Reuters) - Germany's Deutsche Bank (DBKGn.DE) and Switzerland's UBS (UBSN.VX) said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders.

BSkyB in £5bn deal to create Sky Europe

BSkyB is paying £4.9bn to take over Rupert Murdoch's pay TV companies in Germany and Italy.

GM profits hit by recall problems

Earnings at the carmaker General Motors (GM) have slumped because of costs related to its vehicle recalls. Second-quarter net profits fell 85% from a year ago, to $190m (£112m), the company said.

Amazon posts huge loss in second quarter, despite sales rise

Amazon has reported a rise in sales on Thursday but posted a bigger-than-expected $126m (£74m) loss for its second quarter, sending shares sharply lower in after-hours trading.

McDonald's halts nuggets sales in Hong Kong

Fast food chain McDonald's has suspended sale of chicken nuggets and some other products in Hong Kong. It said it had imported chicken and pork from Shanghai Husi Food, the Chinese firm that allegedly supplied out of date meat to fast food firms.

Barclays defends itself against US allegations over 'dark pool' trading

Barclays is mounting a vigorous defence against allegations that it defrauded its customers – accusations levelled by the US attorney general last month that sparked a fall in its share price and led to customers withdrawing their business.

RBS bosses 'wilfully obtuse' over alleged mistreatment of small firms, say MPs

Senior executives at the Royal Bank of Scotland have been accused of being “wilfully obtuse” in answering MPs questions about the alleged mis-treatment of the bank’s small business clients.

Yahoo buys app analytics firm Flurry

Yahoo has acquired an app analytics firm, Flurry, to help boost its advertising revenue from smartphones.

Yum, McDonald's apologize as new China food scandal hits

(Reuters) - Yum Brands Inc YUM.N and McDonald's Corp MCD.N are facing a new food safety scare in China, denting the fast-food companies' efforts to shore up reputations and businesses that were hurt by a 2012 safety scandal in one of their biggest markets.

RJ Reynolds told to pay wife of cancer victim $23.6bn

A US court has ordered the country's second largest cigarette company to pay $23.6 billion (£13.8bn) to the wife of a smoker who died of lung cancer.

Google seen best placed for growth as it transitions to mobile

(Reuters) - Google Inc is the best placed of any company to benefit from the shift to mobile, increased local advertising and wearables, analysts said after the search giant posted its 18th straight quarter of 20 percent-plus revenue growth.

Microsoft to slash 18,000 jobs in deepest cuts in tech giant's history

Microsoft is embarking on the deepest cuts to its workforce in its 39 year history, axing 18,000 jobs over the next year, as it absorbs its newly acquired Nokia phone business and takes out layers of management.

eBay profits rise despite 'challenging quarter'

Online retailer eBay reported profits of $676m (£395m) during the period from March to June, beating analyst expectations.

Buoyant jobs market largely fails to translate into pay rises, figures show

The squeeze on British households will return to centre stage this week as official figures confirm a buoyant jobs market is failing to deliver pay rises for most workers.

Microsoft to overtake Yahoo in global digital ad share

(Reuters) - Microsoft Corp is expected to surpass Yahoo Inc for the first time in the $140.2 billion worldwide digital advertising market, according to estimates by research firm eMarketer released on Tuesday.

Pizza Express sold to Chinese private equity group Hony Capital for £900m

British restaurant chain Pizza Express has been bought by a Chinese equity firm for about £900million.

BNP, tax evasion: US still dictates its economic law

Although its diplomatic clout is compromised on several fronts, the United States still dictates its economic law around the globe and has even expanded its reach, at the risk of raising hackles.

Wells Fargo profits rise as US economy improves

Profits at Wells Fargo rose 3% in the second quarter, as the US's largest bank benefitted from a pick-up in the US economy.

Taxpayers 'lost £1bn' on Royal Mail sale, MPs say

Taxpayers may have lost out on about £1bn from the undervaluing of Royal Mail, a committee of MPs has said.

Apple targets rising water use, production partners' emissions

(Reuters) - Apple Inc acknowledged on Wednesday it needs to address manufacturing partners' carbon emissions and its own rising water consumption, though the iPhone maker said it had cut back sharply on greenhouse gas output.

Lufthansa considers launching cheap long-haul flights under new brand

Lufthansa may launch low-cost long-haul flights under a new brand as part of plans to attract more price conscious travellers and battle competition from Middle East carriers and low-cost airlines, its new chief executive has said.

Rolls-Royce sees record 33% boost in luxury car sales

Engineering firm Rolls-Royce has seen a record 33% rise in luxury car sales in the half year to June compared with last year.

Network Rail fined more than £50m for late trains

Network Rail has been fined more than £50m by the regulator for causing trains to run late – with the Treasury pledging to plough some of penalty back into the railways to provide faster Wi-Fi on commuter trains.

Apple poaches another luxury executive as iWatch nears

(Reuters) - Apple has poached a senior executive from Swiss luxury watch brand Tag Heuer, which could be to help it with the launch of its iWatch expected this autumn.

British Gas staff mis-sold deals, says regulator Ofgem

The UK's biggest energy supplier, British Gas, mis-sold energy deals by making exaggerated claims to potential customers, the regulator has said.

Google reverses decision to delete British newspaper links

(Reuters) - Google Inc on Thursday reversed its decision to remove several links to stories in Britain's Guardian newspaper, underscoring the difficulty the search engine is having implementing Europe's "right to be forgotten" ruling.

Small businesses are the UK's greatest advantage – we must help them look overseas

After weathering the recession, recent data suggests the British economy is finally mounting a sustained recovery.

Target bans guns from its stores after demonstration

US retail giant Target has asked customers not to bring guns into its stores, after Texas gun rights activists demonstrated in a Texas shop with rifles slung over their shoulders.

Japan firms see bigger spending, outlook mixed: BOJ tankan

(Reuters) - Major Japanese companies plan to increase spending more than expected this year, Bank of Japan's "tankan" survey showed, adding to signs the country's economic recovery will get back on track after an expected slip in the second quarter.

GM recalls 8.4 million more cars due to ignition defect

Embattled US car giant General Motors is recalling another 8.4 million cars - 7.6 million in the US.

Nestlé agrees to pay all employees living wage

Food giant Nestlé has become the first leading manufacturer to commit to paying the living wage. The firm already pays at least the living wage to its 8,000 staff but the move will benefit contract employees and agency workers.

Tesco chairman pledges to turn around ailing supermarket group

The chairman of Tesco has stuck his head above the parapet for the first time defending the supermarket's "poor" performance and promising not to flinch from the tough action required to turn around the ailing UK chain.

Germany cancels Verizon contract over snooping fear

The German government has cancelled a contract with Verizon over concern that US firms may be giving data to US authorities.

Barclays shares fall 6.5% on fraud accusation

Shares in Barclays have fallen 6.52% after the New York attorney general filed a fraud lawsuit against the bank.

Sky to shut down door-to-door sales following mis-selling claims

Sky has suspended its controversial door-to-door sales operation with immediate effect, with its UK-wide team of 550 "Sky Walkers" told they face redundancy.

Nissan, Honda and Mazda in mass recall over faulty airbags

Japanese carmakers Nissan, Honda and Mazda have recalled close to three million vehicles citing faulty airbags that could potentially explode and send pieces flying inside the car.

Asos resumes trading again after fire

Online fashion firm Asos has started taking orders again after it was forced to suspend trading following a fire at its main warehouse in Barnsley.

Google considering investment in new subsea cable - WSJ

(Reuters) - Google Inc is considering an investment in a new cable across the Pacific Ocean, the Wall Street Journal reported citing people familiar with the matter.

H&M sees 'strong' spring sales

Swedish fashion retailer Hennes & Mauritz (H&M) has said "well-received" spring collections led to a "strong" second quarter.

Royal Mail: competing services threaten six day-a-week delivery

Royal Mail has warned communications watchdog Ofcom that its mandate of delivering post six days a week to any address in the UK is under threat from competing services.

Blackberry shares jump on surprise $23m profit

Shares in Blackberry jumped 12% in early trading on Wall Street after the troubled smartphone maker reported a surprise profit.

Zoopla float to value property website at £919m

Zoopla has priced its flotation in the lower half of its proposed range, valuing the property website at less than the £1bn it was seeking.

GM safety crisis grows with recall of 3 million more cars for ignition issues

(Reuters) - General Motors Co GM.N recalled three million more cars for ignition switch issues on Monday, roughly doubling the number of GM vehicles with known switch problems in a crisis that has defined the automaker and new Chief Executive Mary Barra this year.

Starbucks to pay college fees for US staff

US coffee chain firm Starbucks will pay college fees for US workers to complete a bachelor's degree online in a tie-up with Arizona State University.

Europe creates 30 $1bn-plus tech firms since 2003

Europe has produced 30 technology companies worth more than $1bn (£590m) since the millennium, according to research that explodes the myth that the region's internet entrepreneurs lack vision and sell up too early.

GM recalls more cars over ignition concerns

General Motors (GM) has recalled more than 500,000 Chevrolet Camaro cars, mostly in North America, after finding a fault with the ignition system.

Intel forecasts revenue growth on better PC sales

Intel has delivered a rare piece of good news for the shrinking PC market after the chipmaker noted a pick-up in demand.

Justin King insists Sainsbury's will not go the way of Tesco when he departs

Sainsbury's outgoing chief executive Justin King has insisted the supermarket will not unravel when he leaves – as Tesco did after Sir Terry Leahy's departure – despite revealing a second consecutive quarter of falling sales.

China's Alibaba plans US online shop

China's e-commerce giant Alibaba is launching its first online marketplace in the US - 11Main.com - as it looks to expand its operations outside China.

Two GM lawyers, quality control executive among those pushed out over switch

(Reuters) - Two product litigation attorneys and a quality control executive are among the 15 employees who have been forced out by General Motors Co (GM.N) over the company's poor handling of a defective ignition switch linked to at least 13 deaths, according to two people familiar with the decisions.

TSB announces share flotation price range

Shares in TSB will be sold at between 220p and 290p when the bank floats on the stock market later this month.

Google search results may indicate 'right to be forgotten' censorship

Google is planning to flag up search results it has censored following a controversial ruling that allows European citizens the right to demand information on them be erased.

Tesla boss Elon Musk hints at technology giveaway

Tesla boss Elon Musk has given the strongest hint yet that the firm is considering "freeing" its patents to help speed up electric car development.

Vodafone reveals existence of secret wires that allow state surveillance

Vodafone, one of the world's largest mobile phone groups, has revealed the existence of secret wires that allow government agencies to listen to all conversations on its networks, saying they are widely used in some of the 29 countries in which it operates in Europe and beyond.

GlaxoSmithKline in $105m (£63m) settlement with 44 US states

UK pharmaceutical giant GlaxoSmithKline (GSK) has agreed to a $105m (£63m) settlement with 44 US states and the District of Columbia over allegations it mis-promoted three drugs.

Tesco reports sharp fall in sales

Tesco has reported a third consecutive quarter of falling sales as the UK's largest supermarket chain faces increasing competition from rivals.

The Chinese technology companies poised to dominate the world

As we walked into Huawei's offices in Shenzhen, southern China, our English guide paused for a moment.

Apple says now sold well over 800 million mobile devices

(Reuters) - Apple Inc Chief Executive Officer Tim Cook, opening the iPhone maker's annual developers' conference on Monday, said the iPhone maker has sold more than 800 million mobile devices.

Siemens restructuring to affect 11,600 jobs worldwide

German industrial giant Siemens plans a major reorganisation of its business, affecting 11,600 workers. The restructuring directly affects 7,600 jobs worldwide, with another 4,000 potentially affected as part of changes to its regional organisation.

Rolls-Royce plans remote-controlled ships with no captain or crew on board

A fleet of giant cargo ships, up to almost a quarter of a mile long and wider than a motorway, are to crisscross the world's oceans without a captain or crew on board.

Google sets up 'right to be forgotten' form after EU ruling

Google has launched a service to allow Europeans to ask for personal data to be removed from online search results.

White and male, Google releases diversity data

SAN JOSE, Calif. (AP) — In a groundbreaking disclosure, Google revealed how very white and male its workforce is — just 2 percent of its Googlers are black, 3 percent are Hispanic, and 30 percent are women.

Nationwide warns of 'natural correction' in house prices

Nationwide building society has warned the London housing market may face a "natural correction". The mutual's chief executive, Graham Beale said there was already a "slowing down in the market place".

AstraZeneca shares fall after Pfizer walks away from deal

AstraZeneca shares fell on Tuesday after its spurned US suitor Pfizer walked away from a £69.4bn takeover attempt.

Apple wants retrial in Samsung patent case

Apple is requesting a retrial after a Californian jury ordered Samsung to pay the US company $119m (£71m) in damages for infringing two of its patents.

General Motors recalls more cars over fire safety fears

US car giant General Motors has announced it will recall another 218,000 cars in the US over fire safety fears.

BP chief says firm's Russia business unaffected by sanctions on Rosneft CEO

ST PETERSBURG Russia (Reuters) - Sanctions imposed on the chief executive of Rosneft over the Ukraine crisis have not impacted BP's business with the Russian oil producer, Interfax news agency quoted BP chief executive Bob Dudley as saying on Saturday.

McDonald's shareholders approve executive pay plan

McDonald's shareholders have approved an executive pay plan at the company's annual meeting despite protests.

The 1% is spending: Luxury stocks soar

Catering to the one percent has its perks. Just look at the recent performance of luxury retail stocks.

Barclays Bank fined £26m for gold price failings

Barclays Bank has been fined £26m by UK regulators after one of its traders was discovered attempting to fix the price of gold.

U.S. factory data upbeat, euro zone business stays strong

(Reuters) - U.S. manufacturing growth picked up to a three-month high in May, while private business activity in the euro zone grew at just under its fastest pace in three years, surveys showed on Thursday.

BP appeals to US Supreme Court over Gulf oil payments

BP has appealed to the US Supreme Court over a ruling regarding how businesses must be compensated in the wake of the 2010 Gulf of Mexico oil disaster.

Apple and Google settle patent row

Mobile phone industry giants Apple and Google have agreed to dismiss lawsuits they had brought against each other over technology patents.

Wal-Mart blames cold weather for fall in profits

The world's largest retailer, Wal-Mart, has reported a fall in profits due to particularly cold winter weather.

Vietnam's anti-China protests force Foxconn shut down

The Vietnamese protesters are angry about China's deployment of an oil rig into waters that both countries claim as sovereign territory.

GM's recall total nears 13 million worldwide

General Motors has recalled another 3 million autos, bringing the troubled automaker's total for the year to 12.8 million worldwide.

UK executive accused in GlaxoSmithKline China probe

Chinese police have accused a British GlaxoSmithKline (GSK) executive of ordering staff to bribe hospital officials to use its medical products.

Apple Wins a Battle Against Samsung... But Not Where You Think

Apple (NASDAQ: AAPL ) and Samsung (NASDAQOTH: SSNLF ) continue to duke it out in the mobile electronics wars as Apple's latest incarnation of the iPhone, the iPhone 5, goes up against Samsung's just-released Galaxy S5.

Nissan profits jump 10% as sales rise

Nissan has seen full-year profits jump 10%, boosted by better sales, cost-cutting and a weaker yen.

Co-op Group's stake in Co-op Bank set to fall

The Co-operative Group is set to see its 30% stake in the Co-op Bank reduced further under a plan to shore-up the bank's finances.

GM to invest $12 bn in China and plans more plants

BEIJING: US car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it steps up its presence to compete with aggressive rivals in the world's largest auto market.

Sony to close e-reading store in Europe, Australia

[TOKYO] Sony is to shutter its ebook Reader Store in Europe and Australia following a similar pullout in North America, the company has said, as the once-mighty electronics giant pulls in its horns.

Toyota profit nearly doubles to $17.8bn

Japanese carmaker Toyota has seen its profits nearly double, boosted by the yen's weakness and cost cutting. It made a net profit of 1.82 trillion yen ($17.8bn; £10.5bn) in the year to 31 March, up from 962bn yen a year ago.

Twitter ads get language targeting

Social networking giant Twitter has introduced a new feature that will allow advertisers to target users on its platform based on their language.

Barclays profits dragged down by investment bank slump

Profit at Barclays' investment bank almost halved in the first quarter after a slump in income at its rates and currency business.

Tiger Airways shares slump on widening losses

Shares in Singapore-based budget carrier Tiger Airways slumped by as much as 8%, to a one-month low, after it posted widening losses.

Labour should reform the railways, prospective MPs say

Labour should renationalise the rail industry if it wins the next election, a group of 31 prospective MPs has said. In a letter to the Observer, they said services should be returned to public ownership when current franchises end.

Samsung ordered to pay Apple $120m for patent violation

An American jury has ordered Samsung to pay $119.6m to Apple for smartphone patent violations, far less than Apple had sought and marking a big loss for the iPhone-maker in the latest round of the two companies’ worldwide litigation.

AstraZeneca rejects Pfizer's $106 billion bid

AstraZeneca has rejected Pfizer's sweetened takeover bid, describing the proposed $106 billion deal as inadequate.

Rolls-Royce blames strength of pound for profit slump

The strength of the pound and a one-off charge for fixing a product problem will reduce Rolls-Royce's profits by £70m this year.

Japan Airlines profit hit by weak yen and higher costs

Japan Airlines (JAL) has reported a dip in full-year profits, which it says is mainly due to the weaker yen pushing up costs.

Vince Cable rebuts claim government massively undervalued Royal Mail

Vince Cable has continued to contest claims that the government significantly undervalued Royal Mail, costing taxpayers £750m on the day of the postal service was privatised in October.

French president meets rival German and US bidders for Alstom

French president François Hollande met rival German and US bidders for Alstom, one of France's prime industrial assets, on Monday amid concerns that the company will fall into American hands.

Barclays in $280m settlement with US regulators

Barclays agreed to a $280m (£167m) settlement with the US Federal Housing and Finance Authority (FHFA).

Wal-Mart Names China CEO to Head Asia as Regional Sales Slow

Wal-Mart Stores Inc. (WMT) named its top China executive to head its Asian operations amid store closures and sluggish sales in the region that have hampered the retailer’s attempts to counter slowing growth in the U.S.

Microsoft and Nokia complete mobile phone unit deal

Microsoft has completed its purchase of Nokia's mobile phone business for 5.44bn euros ($7.5bn; £4.5bn).

Facebook earnings surge on mobile advertising

Social networking giant Facebook has reported profits of $642m (£383m) during the first quarter of 2014, beating analyst expectations.

GM accused of hiding ignition flaws in 2009 bankruptcy

Lawyers pressing cases against General Motors say the automaker concealed the controversial ignition defect when it "took billions of dollars in taxpayer money" during its government-sponsored bankruptcy in 2009.

Pharmaceutical shares soar after Novartis and Glaxo deal

Novartis and GlaxoSmithKline have agreed a multibillion dollar swap of assets under which the two pharmaceutical companies will join forces in the consumer healthcare sector combining brands including Aquafresh, Beechams and Tixylix and exchange their oncology and vaccine businesses.

Halliburton reports $622m profits

US oil exploration firm Halliburton has reported better-than-expected first quarter profits, helped by robust drilling activity in Russia, Saudi Arabia and Angola.

Toyota Motor aims to double sales in China to 2 mn vehicles in future

BEIJING: Toyota Motor Corp plans to make and sell hybrid versions of its Corolla and Levin sedans in China next year, fitting them with locally-made components, in its first bid to entirely manufacture gas-electric hybrids outside Japan.

Weibo shares pop 19% in IPO

Weibo shares rallied on the first day of trading Thursday, in what could be a positive sign for other Chinese technology companies hoping to list on the U.S. market.

RBS cleared of forcing clients into insolvency to buy up assets

Royal Bank of Scotland has been cleared of deliberately engineering the collapse of some of its business customers, but has decided to sell off the £3.2bn commercial property portfolio at the centre of the row.

GlaxoSmithKline says it is investigating bribery claims in Jordan and Lebanon

GlaxoSmithKline, the UK's largest drug firm, is investigating claims that its staff in Jordan and Lebanon have bribed doctors.

GM asks bankruptcy judge for special protection to head off lawsuits

General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.

Google buys solar-powered drone maker Titan Aerospace

Internet search giant Google has bought US high-altitude drone maker Titan Aerospace for an undisclosed sum.

Peugeot Citroen outlines recovery plan

Struggling French carmaker PSA Peugeot Citroen has announced a major recovery plan after recording net losses of 7.2bn euros ($10bn; £5.9bn) over the past two years.

Tesco pays the full price for failure to offer discounts

The supermarket business is conducted in the language of wars – price wars – so embattled Tesco boss Philip Clarke probably needs to channel his favourite military hero if he is to survive the barrage heading his way.

Documents show GM's sluggish response to deadly defect

(Reuters) - Documents made public on Friday by a U.S. House of Representatives committee provided fresh details on General Motors Co's awareness of problems surrounding ignition switches in millions of its cars - long before the Detroit automaker recalled the vehicles.

JPMorgan profits fall 19% as mortgage business fades

US banking giant JPMorgan Chase has reported a sharp fall in profits at the start of 2014, which it blamed on declines in its mortgage business.

BlackBerry may exit handset business if it can't make profit, says CEO

The struggling handset and services company BlackBerry may stop selling handsets if it cannot do so profitably, its chief executive officer John Chen says, as he looks to expand its corporate reach with investments, acquisitions and partnerships.

Rolls-Royce engineer loses tribunal case on 'whistle-blowing dismissal'

An employment tribunal has dismissed a claim from a senior Rolls-Royce engineer saying he was sacked for blowing the whistle on allegations of potentially serious problems with the company's jet engines.

Samsung Electronics forecasts drop in profits

Samsung Electronics, the world's biggest maker of TVs and mobile phones, has forecast a drop in profit for the second quarter in a row.

Sun Pharmaceutical to acquire Ranbaxy in $4bn deal

India's Sun Pharmaceutical has agreed to acquire rival Ranbaxy - majority owned by Japan's Daiichi Sankyo - in an all-stock deal worth $4bn (£2.4bn).

Barclays sells its United Arab Emirates retail business

Barclays has agreed to sell its retail banking arm in the United Arab Emirates to Abu Dhabi Islamic Bank (ADIB).

Tesco facing fresh turmoil after finance director resigns

Tesco was facing fresh turmoil on Friday as the supermarket confirmed that Laurie McIlwee, its embattled finance director, has quit just days before the company is expected to announce a new decline in profits.

New car sales hit 10 year high in March

Sales of new cars rose at their fastest pace for a decade, the Society of Motor Manufacturers and Traders (SMMT) has said.

Credit card companies face FCA competition inquiry

Credit card providers will come under the spotlight of the City regulator, amid concerns that vulnerable customers are being offered "payday loans with plastic" and paying high interest rates which subsidise wealthier borrowers.

Pilots' strike grounds Lufthansa flights

German airline Lufthansa has cancelled around 900 flights at the start of a three-day strike that is expected to affect some 425,000 passengers.

Asos chief defends investment strategy after profit slowdown

The chief executive of young fashion website ASOS defended his investment strategy and said it will allow the group to be truly global.

Apple and Samsung patent row back in court

The latest round in a bitter tit-for-tat legal row between the two biggest players in smartphones will be resumed later in California.

Microsoft muscles into YouTube territory with new video advertising service

Microsoft is to launch a new video advertising service in Britain as it seeks to grab a share of the market that is dominated by Google’s YouTube.

GM adds 824k small cars to ongoing recall

General Motors is adding 824,000 more cars to an ongoing recall over defective ignition switches that have caused some engines to shut off and to disable airbags.

BlackBerry revenues fall below $1bn but John Chen sees signs of recovery

Struggling smartphone maker BlackBerry saw its quarterly revenues fall below $1bn (£601m) for the first time in seven years in the three months to March, recording its ninth successive quarter of operating losses and ending its fiscal year with net losses of $5.8bn.

Candy Crush maker's shares collapse after IPO

Wall Street proved immune to Candy Crush’s charms Wednesday as shares in King Digital, the company behind the mobile gaming phenomenon, dropped 16% on their debut.

Airbus to supply 70 jets to China, worth more than $10bn

European aviation giant Airbus has signed a deal to supply 70 jets, worth more than $10bn (£6bn), to China's state-owned purchasing agency.

Co-op Bank’s ethical investors fret over another £400m hole

The stricken Co-op Bank has abandoned plans to float this year as it admitted it needs a further £400m just three months after raising £1.5bn to fill the hole in its accounts.

Nu Skin surges despite China's fine

Shares of Nu Skin (NUS) surged nearly 20% Monday after China announced a minimal fine to the skin care sales and marketing company.

Turkish Finance Minister Simsek defends Twitter ban

Turkish Finance Minister Mehmet Simsek has defended his government's ban on Twitter, accusing the website of failing to comply with court orders.

Tesco signs deal to enter India's supermarket sector

Tesco has signed a deal to become the first foreign supermarket to enter India's £330bn ($500bn) retail sector.

Toyota Lifts Lockout at Indian Factories After Wage Dispute

Toyota Motor Corp. (7203), the world’s largest automaker, said it will resume production in India after an impasse with union workers over wages led to a temporary lockout and halt in assembly work.

Russia 'closes Ukrainian Roshen chocolate factory'

Russian authorities have taken over a Ukrainian-owned sweet factory in the southern Russian city of Lipetsk, Ukraine's government says.

China's high wire act on failing companies

China looks ready to let more companies go to the wall as part of its economic reforms, shaking financial markets that are used to the government bailing out firms at the last minute.

Offshore taxes may slow audits for some U.S. multinationals: IRS

WASHINGTON (Reuters) - Multinational businesses that often fight with the U.S. Internal Revenue Service over their worldwide taxes may be dropped from an IRS program meant to smooth corporate audits, a senior IRS official said on Tuesday.

Vodafone to buy Spain's Ono in 7.2bn euro deal

Vodafone has agreed to buy Spanish cable operator Ono for 7.2bn euros ($10bn; £6bn), in deal aimed at expanding its interests in Europe.

GM recall: Report 'links' faulty vehicles to 303 deaths

A report has linked faulty airbags in two of the six models recalled by General Motors to 303 deaths.

US regulator sues 16 banks for alleged Libor rigging

A US regulator has sued 16 banks for allegedly manipulating the London interbank offered rate (Libor).

Britons in the lead with smartphone shopping

Britons are far ahead of their European counterparts when it comes to smartphone usage for online shopping, according to new research.

Panasonic to pay China workers pollution compensation

Japanese electronics firm Panasonic has said it will pay its employees working in China a premium to compensate them for the country's high pollution.

Tesco market share shrinks to lowest level in almost a decade

Tesco's share of the UK grocery market has shrunk to its lowest level in almost a decade as British shoppers defected to German discount chains Aldi and Lidl to save money.

General Motors recall faces US investigation

A US congressional committee has said it is investigating General Motors' recall of nearly 1.6 million vehicles over faulty ignition switches.

Facebook's WhatsApp purchase challenged

Facebook's purchase of mobile messaging service WhatsApp has been opposed by privacy groups.

Boeing freezes pensions for 68,000 employees

US aerospace company Boeing has frozen defined-benefit pensions for 68,000 employees, including management and executives.

Rolls-Royce to buy Daimler stake of power systems unit with cash, borrowing

LONDON (Reuters) - British engineering company Rolls-Royce said on Friday it would fund the purchase of German carmaker Daimler's 50 percent stake of a jointly owned power systems company using cash and some borrowing.

John Lewis overtakes Marks & Spencer as darling of the high street

John Lewis has stolen the UK high street crown from Marks & Spencer after sales in Britain overtook the high street bellwether for the first time.

Glencore Xstrata directors share $500m of dividends in one year

The commodities, mining and trading behemoth Glencore Xstrata has shown what the vast merger that created it does for the bank balances of its billionaire bosses – create ever bigger dividends.

McDonald's says wages could rise

Fast food giant McDonald's has said growing concerns over income inequality may force it to raise its wages. It said the public focus on the issue "may intensify" over the coming months.

Serco reports sharp drop in profits after crisis-hit year

Troubled outsourcing company Serco reported plunging profits for 2013 and expects a further 20% fall this year following a series of scandals that left its reputation in tatters.

Multinationals See Reputations Eroding from Tax Planning

More than three-quarters of multinational CFOs believe that exposure to the public of their corporate tax planning activity has a detrimental impact on a company’s reputation, according to a new survey.

Rolls-Royce Portsmouth naval plant to close

Rolls-Royce is to close its manufacturing plant in Portsmouth.

Cisco cleared in rights case, as tech sector watches

Washington (AFP) - A US court has cleared Cisco Systems over liability for human rights abuses in China, in a case closely watched by the global technology sector and activists.

Qantas meets unions over 5,000 job cuts

Qantas is meeting unions anxious about 5,000 planned job cuts, as rival Virgin posts a half-year loss citing tough conditions across the airline industry.

RBS pays out £588m in bonuses despite suffering £8.24bn loss

Royal Bank of Scotland has defended plans to pay £588m in staff bonuses despite suffering an £8.24bn loss in 2013 as it slumped into the red for the sixth successive year.

Tesco: Who says it's hard to make home delivery profits?

Tesco has piled the pressure on its rivals to state whether they make any money from their online operations after the UK's biggest supermarket said its groceries home delivery business made a massive £127m profit last year.

JP Morgan to cut 8,000 jobs in mortgage and retail

JP Morgan announced it will cut 8,000 jobs in its mortgage and retail banking sections as those businesses continue to shrink.

Google's Schmidt to give the world a $1 million tech upgrade

Google executive chairman Eric Schmidt plans to dole out $1 million to companies around the world to help them upgrade their communication technology.

Apple, Samsung Again Fail to Settle U.S. Patent Case

Apple Inc. (AAPL) and Samsung Electronics Co. (005930) told a judge they again failed to settle their dispute over smartphone technology, with their next trial in federal court in California set to begin March 31.

Shell in $2.6bn Australia asset sale

Oil giant Royal Dutch Shell has agreed to sell its Australian downstream business to oil trading firm Vitol for $2.6bn (£1.6bn).

Richard Branson insists he will be aboard first Virgin Galactic space flight

Richard Branson has reiterated his plan to fly with his children on the inaugural flight of his long-planned commercial space operation, Virgin Galactic, despite the relatively untested nature of the technology and a departure date which has slipped repeatedly.

Wal-Mart reports fall in quarterly profits

The world's largest retailer, Wal-Mart, has reported a 22% drop in quarterly profit and given a weaker-than-expected earnings forecast for the coming year.

Samsung plans to sue Dyson over 'copycat' allegations on vacuum cleaner

Samsung Electronics has filed a lawsuit demanding 10bn Korean won (£5.6m) in compensation from the British appliance maker Dyson because it claims it was depicted as a copycat.

Poundland in £750m stock market float

Discount chain Poundland plans a £750m flotation on the London Stock Exchange.

Toyota to Honda Lose Some Output as Snow Hits Japan

Toyota Motor Corp. (7203), Honda Motor Co. and Suzuki Motor Corp. suspended output in some factories in Japan after the second major snowstorm this month disrupted shipments of parts from suppliers.

Thousands protest at axing of Coca-Cola bottling plants in Spain

MADRID: Thousands took to the streets in Madrid Saturday in protest at the closure of four bottling plants of US soft-drink giant Coca-Cola that would affect 1,250 workers.

Shell to sell off three North Sea assets

Shell is to sell its interests in three of its assets in the North Sea but says it is still committed to its operations in UK waters.

China Smartphone Shipments Post First Quarterly Drop Since 2011

Smartphone shipments in China fell for the first quarter in more than two years in a sign that growth in the world’s biggest market may moderate, according to market researcher IDC.

Lloyds Bank's Horta-Osorio defends £1.7m bonus to BBC

Lloyds Bank chief executive Antonio Horta-Osorio says in an exclusive interview with the BBC that his bonus, worth £1.7m, is aligned with taxpayers' interests.

H&M to open first store in India in a bid catch up with rival Inditex

H&M will open its first store in India this year as the world’s second-biggest fashion retailer becomes the latest to take advantage of the opening of its economy to foreign operators.

Car industry: what Australia could learn from state support around the world

Car manufacturing is a proud pillar of the western world's industrial history, but the hollowing out of Detroit as a city and an economic force is just the most shocking example of a decline that has afflicted automotive superpowers such as the US, the UK, France and now Australia, where Toyota will close all of its factories by 2017.

Toyota to end car production in Australia by 2017

Toyota is to end its vehicle and engine production in Australia by the end of 2017, affecting thousands of jobs. It also announced plans to possibly scale down the operations of its development and technical centre there.

Barclays blasted over 'catastrophic' theft of thousands of customer files

Barclays is under scrutiny by regulators and could face a hefty fine after thousands of confidential files on customers were stolen in a data breach described as catastrophic by an adviser to the business secretary, Vince Cable.

Royal Mail staff accept 'ground-breaking' pay deal

Postal workers have voted overwhelmingly to accept what their trade union called "a ground-breaking" pay deal. Previously the Communication Workers Union (CWU) had been threatening industrial action.

Google search results changing in Europe

Google's search results in Europe will look very different after the company agreed to changes that should settle a long-running antitrust case.

Sony to sell PC unit and cut jobs

Sony has said it will sell its personal computer (PC) unit and split its TV division into a separate subsidiary as part of its restructuring programme. It will also cut 5,000 jobs globally in an attempt to turn around its fortunes.

What Facebook knows about you

Facebook has spent the past 10 years building a business upon your personal information. The social network knows a lot about you.

Oil giant BP sees profits fall as sell-offs hit

Oil giant BP saw profit fall in 2013 as lost income from asset sales hit.

Companies fight back against hedge funds

As activist investors intensify their efforts to shake up large firms, a new alliance has formed to hit back at the Carl Icahns and Dan Loebs of the world.

Coca-Cola workers protest layoffs in Spain

MADRID: Thousands of workers from Coca-Cola bottling factories in Spain marched Sunday in protest at plant closures they say will cost 750 jobs.

Wal-Mart lowers profits guidance

Wal-Mart has trimmed its trading outlook for this year, citing a range of one-off costs including the closure of some stores in China.

For companies, a rocky road ahead in emerging markets

(Reuters) - International companies are taking steps to mitigate the effects of the turmoil in emerging markets, including hedging foreign currency exposure more aggressively, reducing some investment plans, cutting costs, and raising prices frequently.

Facebook revenue surges 63% on strong ad sales

Social networking giant Facebook has reported profits of $523m (£316m) and a 63% increase in revenue for the fourth quarter, beating expectations.

Barclays considering closure of a quarter of its high street branches

Fresh fears of job cuts in the banking industry were raised on Tuesday night after it emerged Barclays could close a quarter of its high street branches in coming years.

Vodafone investors back $84 billion payout from Verizon sale

LONDON: Vodafone shareholders secured one of the biggest pay-outs in corporate history on Tuesday, as they approved the $130 billion sale of the British company's stake in its US joint venture Verizon Wireless.

Royal Bank of Scotland set to report up to £8bn losses for 2013

Royal Bank of Scotland is on track to report up to £8bn in losses for 2013 after taking a fresh hit for conduct and mis-selling issues, forcing its top management to refuse any bonuses for the year.

Samsung Electronics quarterly profit declines

Samsung Electronics, the world's biggest maker of mobile phones and TVs, has reported a drop in quarterly profit for the first time in two years.

JP Morgan boss Jamie Dimon pay rises to $20m in 2013

The chairman and chief executive of JP Morgan, Jamie Dimon, will be paid $20m (£12.1m) for the past year's work.

Royal Mail performance boosted by strong parcel demand over Christmas

More people sending Christmas cards and higher revenue from parcels helped Royal Mail achieve solid business over the first Christmas since the company floated on the stock market.

Samsung 'infringed' Apple's auto-complete text patent

A US judge has ruled that Samsung infringed Apple's patent-protected word recommendation technology.

Pimco Dropping Linkers Calls Time on Abenomics Inflation Target

Pacific Investment Management Co. stopped favoring Japanese government bonds that benefit from consumer price gains as it predicts Abenomics won’t generate 2 percent inflation.

Volvo CEO Hakan Samuelsson sees Europe demand "levelling out" this yea

STOCKHOLM: The head of Chinese-owned carmaker Volvo Car Group forecast flat demand for cars in Europe's struggling automotive sector as the region slowly pulls out of a deep downturn.

Shell's profit warning linked to cost of drilling in Arctic waters

The costs of a trouble-prone drilling programme in Arctic waters off Alaska have contributed to Shell being forced to issue a shock profit warning which has shaken investor confidence.

Customers to win big from GM-VW sales race

Volkswagen AG and General Motors are neck-and-neck for the number two spot in the global sales race. But it's U.S. car buyers who might come out ahead.

Bank of America profits up as credit improves

Bank of America has reported stronger-than-expected profits for the fourth quarter of 2013, helped by improving credit conditions.

Shell to sell $15 billion of assets including some North Sea fields: Report

LONDON: Royal Dutch Shell could look to sell $15 billion worth of assets over the next two years including some North Sea fields, said a media report on Tuesday, expanding on its existing guidance that divestments would accelerate this year.

GM's global sales rise four percent in 2013

(Reuters) - General Motors Co (GM.N) said on Tuesday its global sales grew 4 percent in 2013 on strong demand in the world's two largest auto markets, China and the United States.

BP loses bid over Gulf oil payouts

BP has lost an appeal to cancel the terms of its multi-billion-dollar settlement with businesses over the 2010 Gulf of Mexico oil spill disaster.

Price war in US mobile market raises fear of profit hemorrhage

NEW YORK: New Year's rivalry among US mobile operators has Wall Street worried that the industry's profits could seriously decline.

Volkswagen posts 6.3% December group sales gain, 2013 record deliveries

BERLIN/FRANKFURT: Germany's Volkswagen increased group sales by 6.3 per cent in December as demand from China and North America more than offset declining deliveries in core European markets.

Prada owners under investigation for tax avoidance: Sources

MILAN: Italian fashion designer Miuccia Prada and her husband, Prada chief executive and fellow shareholder Patrizio Bertelli, are under investigation as part of a tax avoidance probe by Milan prosecutors, three investigative sources told Reuters on Friday.

Labour attacks 'botched' privatisation of Royal Mail

Labour has accused the government of botching the privatisation of Royal Mail, saying taxpayers have been short-changed by hundreds of millions of pounds.

Sainsbury's cuts its sales forecast

Sainsbury's has cut its full-year sales forecast after warning that customers are likely to "spend cautiously" in the first few months of 2014.

Samsung to report profit decline as phone sales lag

Samsung is on track to report lower operating profit for the first time in more than two years amid increased competition in the smartphone market.

JPMorgan nears $2 billion settlement in a case tied to Madoff: Reports

JPMorgan Chase & Co is nearing a $2 billion settlement with federal authorities to resolve suspicions that the bank ignored signs of Bernard Madoff's Ponzi scheme, the New York Times reported, citing people briefed on the case.

Facebook sued over alleged private message 'scanning'

Facebook is facing a class action lawsuit over allegations that it monitors users' private messages. The lawsuit claims that when users share a link to another website via a private message, Facebook scans it to profile the sender's web activity.

Japan Companies Say Recovery to Survive Higher Tax, Poll Shows

More than 80 percent of large Japanese companies expect the nation’s economic recovery to survive Prime Minister Shinzo Abe’s planned sales tax increase in April, according to a survey by the Mainichi newspaper.

Ford, Chrysler close 2013 with more gains in US sales

CHICAGO: Ford and Chrysler closed out 2013 by extending strong sales gains Friday as the booming US auto industry was expected to rack up its best performance in years.

Wal-Mart recalls donkey meat in China

Wal-Mart has recalled a donkey meat product in China after tests showed that it contained DNA of other animals.

Restoring trust in Barclays 'to take five to 10 years'

Barclays chief executive Antony Jenkins says he expects it to be five to 10 years before he can restore public trust in the bank. Mr Jenkins said that people in large organisations, "want to do the right thing - it's sometimes that they perceive the right thing differently".

Fiat reaches deal to buy remaining 41.5% of Chrysler shares

Italian car manufacturer Fiat announced on Wednesday that it has reached an agreement to acquire the remaining shares of Chrysler for $3.65bn (£2.2bn) in payments to a union-controlled trust fund.