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.

UK retail sales recorded a larger-than-expected rise last month, helped by a strong increase in food sales. Sales rose 2.1% in May from the month before, and were up 1.9% from a year earlier, according to the Office for National Statistics (ONS).

SINGAPORE--The Singapore dollar was lower against the U.S. dollar on Thursday as traders piled into the U.S. unit after Federal Reserve Chairman Ben Bernanke pointed to a tapering of bond buying toward the end of the year.

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".

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.

Eurotunnel is charging train companies too much - according to the European Commission - resulting in higher fares for Eurostar passengers as well as discouraging freight customers.

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

A home finance arranger has been fined nearly �1m, a record sum, for misleading homeowners when selling and renting back their properties.

Diageo said in May that Mr Walsh would step down as chief executive at the end of this month, after 13 years at the helm of the group that makes Gordon's Gin and Smirnoff vodka.