Falling clothes sales at Marks & Spencer have dragged down the retail giant's annual profits to an eight-year low, as it said the executive behind the �Your M&S� branding is to step down.

Britain will be advised to sell off the state's holdings in the Royal Bank of Scotland and Lloyds Bank by the International Monetary Fund (IMF) in a move that will embolden George Osborne as he attempts to justify his economic strategy.

The annual rate of inflation eased to 2.4 per cent last month, thanks to falls in petrol prices and air fares, the Office for National Statistics reported yesterday.

U.S. Senate scrutiny of Apple Inc.'s tax strategies turned the spotlight on a unit with $30 billion in profit since 2009 that's incorporated in Ireland, controlled by a board in California, and doesn't pay taxes in either place.

Fiat Industrial aims to move its tax residency to the UK from Italy after a merger with US business CNH to take advantage of a lighter fiscal regime, according to a regulatory filing.

THE boss of the Royal Mail claims privatising the postal giant is the only way it can thrive. Moya Greene said a sell-off was vital to attract investment.

The UK tax authority's failure to hit a target of reducing tax credit fraud and error has "cost the taxpayer dear", according to a committee of MPs.

Homeserve's shares jumped more than 10 per cent as the company revealed a smaller than anticipated �6m provision for legal costs and fines it is expected to incur for mis-selling home repairs insurance.

Paragon Group continued to prosper by snapping up unwanted loan portfolios from big banks and the boom in buy-to-let loans as the specialist lender reported a rise in half-year pre-tax profits.

SHARES in Greencore rose sharply after the company reported higher-than-expected profits in the first half of its year, even as the key UK market struggled.