By Olesya Dmitracova and Christina Fincher. LONDON | Wed May 22, 2013 10:38am BST. LONDON (Reuters) - British retail sales dropped at their sharpest pace in a year last month, a reminder of weakness in the country's economy after some recent signs ...

Lloyds Banking Group, the UK's largest retail bank, said it would not need to issue new shares or sell other securities to meet fresh regulatory capital requirements.

The FTSE 100 company, which was fined �10.5m in April for mis-selling to thousands of customers, also rejected calls to forgo any executive bonuses, instead cutting them by 40pc.

The rand gained, snapping its longest losing streak in a year, after inflation outpaced economist estimates in April, damping expectations of a central-bank interest rate cut this year.

Tax authorities from the UK, US and Australia are to join together to investigate tax evasion from some of the wealthiest people in the world after receiving huge amounts of data from a whistle-blower.

Nationwide has more than doubled its provisions on commercial real estate loans to almost �500m and warned of weak demand and declining property values.

More than 50 English beaches have met tough new EU standards to receive Blue Flag awards, recognising their high standards and water quality.

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.

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.