TOKYO - The Bank of Japan stood pat on monetary policy Wednesday amid market jitters over volatility in bond markets, which has threatened to undermine the country's battle to end deflation and stimulate growth in the giant economy.

Lost tax revenue from money salted away offshore is costing governments more than $150bn (�99bn) a year, Oxfam has found - enough to eliminate extreme poverty across the globe twice over.

Britain will be advised to sell off the state's holdings in the Royal Bank of Scotland and Lloyds Bank by the International Monetary Fund (IMF) in a move that will embolden George Osborne as he attempts to justify his economic strategy.

Falling prices at the petrol pumps led to a bigger-than-expected drop of 0.4 per cent in the consumer price index in April, the first easing in the annual rate of price rises for six months.

Fiat Industrial aims to move its tax residency to the UK from Italy after a merger with US business CNH to take advantage of a lighter fiscal regime, according to a regulatory filing.

The taxman had expected to save �8bn by 2015 from reducing errors and fraud in the administration of tax credits, but is expected to miss its target by �5bn.

A congressional hearing into Apple Inc. (AAPL)'s use of offshore tax shelters called attention to how U.S. companies lower their taxes, and underscored the difficulty Congress confronts when trying to end the practice.

One in five people retiring in Britain in 2013 will fall below the income poverty line according to a study by Prudential, which also found that nearly a quarter of women will enter retirement entirely dependent on the basic state pension.

The Institute of Directors claimed the fledgling industry could create 74,000 jobs, more than double its previous estimate of the industry's potential.

Energy supplier SSE has reported a rise in annual profits despite disruption from bad weather and a fine from regulators. The company reported adjusted pre-tax profits of �1.4bn for the 12 months to the end of March, up 5.6% on last year.