The call to �bring forward planned capital investment where possible� was the centrepiece of the IMF's annual update on the state of the UK economy, and the culmination of a month-long row between the Chancellor and the Bretton Woods institution.

SSE has warned that consumers should brace themselves for further increases in energy bills, as the London-listed energy group reported a jump in full-year pre-tax profit and bolstered its dividend.

LONDON - British retail sales slid unexpectedly last month amid cold spring weather, official data showed on Wednesday. Retail sales sank by 1.3 percent in April from March, the Office for National Statistics (ONS) announced in a statement.

Royal Bank of Scotland and Lloyds Banking Group on Wednesday said they would not need to issue new shares or sell other securities to meet fresh regulatory capital requirements.

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.

Nationwide, Britain's largest building society, today said it had increased lending on mortgages by 17pc to �21.5bn as it announced its full-year results.

By Alistair Smout. LONDON | Wed May 22, 2013 12:01pm BST. LONDON (Reuters) - FTSE 100 weakened early on Wednesday after hitting 13-year highs the previous session, as investors took profits in outperforming sectors such as technology and luxury.

A poll of 404 businesses found that growth in output was broadly flat over the three months to May, again disappointing expectations for a more pronounced recovery.

The Government's failure to set out its expectations for a flagship home energy efficiency programme is unacceptable, MPs warn.

The government borrowed slightly less than first thought in the 2012-13 financial year, the latest official figures suggest. The Office for National Statistics (ONS) said the government borrowed �119.5bn last year - down from the initial estimate of �120.6bn.