The Ernst & Young ITEM Club said �the persistence of high inflation could undermine the Monetary Policy Committee's credibility� and �tie [its] hands�.

Prime Minister David Cameron wrote to the Cayman Islands and nine other U.K. territories to request action to tackle company tax evasion as Britain prepares to host the Group of Eight summit next month.

Marissa Mayer, the former Google executive who is now in charge of Yahoo, is poised to create yet another nothing-to-riches tale in the web industry with the $1.1bn (�720m) acquisition of the blogging site Tumblr.

The retailer dispatches online orders destined for mainland Europe from the UK but bills the transaction to Ireland, according to documents seen by the Guardian.

Helped by the warmer weather, footfall on the high-street rose 3.4pc year-on-year in April, the biggest increase since the run-up to Chrismtas in 2011.

A UK Treasury analysis paper will say an independent Scotland could have "significant difficulties" providing protection for savers.

Has the time come to halt the demonisation of bankers? Outgoing Bank of England governor Sir Mervyn King thinks so. His point is not simply that it has gone on long enough and that it is time to move on.

BAE is moving toward naming its new chairman with the UK defence company's most influential stakeholders expected to make a decision by mid June.

FirstGroup is expected to announce that chairman Martin Gilbert is set to step down in an attempt to placate investors as it unveils plans for a �600m rights issue and cuts the dividend.

Eurasian Natural Resources Corp.'s three founding shareholders sent a letter with details of a planned bid for the company at a price of less than 300 pence a share to its independent committee of directors, according to people familiar with the matter.