World stock markets fell sharply today after the US Federal Reserve said it could start scaling back its huge economic stimulus programme later this year and a survey showed a slowdown in manufacturing in China.

The UK's banks have been told to find an additional �13.4bn of capital this year on top of the balance sheet-strengthening measures they had already been planning.

The UK's retailers saw strong sales growth last month after a disastrous April, with both volumes of goods sold and the amount spent rising to their highest-ever level.

Sebastian James, Dixons' chief executive, said the chain had experienced a "tablet explosion" last Christmas and, given that less than a third of British households have a tablet, there is "lots of road left in this particular product".

PARIS - Shares in Eurotunnel which operates the under-sea tunnel between France and England fell by 4.47 percent on Thursday after the European Commission pressed for a cut in prices charged to run trains on the route.

The Scottish first minister has backed a break-up of RBS to split its risky investment bank from its mainstream retail and business lending arm.

The government has a duty to explain the benefits of genetically modified crops to the British people, Environment Secretary Owen Paterson is to say.

The Financial Conduct Authority has imposed its largest ever fine of almost �1m on a retail sole trader for �deliberately misleading� vulnerable customers over sale and rent back agreements.

LONDON--Gross mortgage lending was the highest in just over four-and-a-half years in May as government initiatives appear to be stimulating demand for a growing number mortgages with low interest rates, figures showed Thursday.

Ian Livingston has been lured from helm of BT to become David Cameron's Trade minister, banging the drum for UK exports and inward investment.