The Bank of Japan kept its monetary settings on hold on Wednesday, judging that the huge stimulus unveiled in April will be enough to spur price gains in the world's third-largest economy.

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.

LONDON�The storm brewing over Apple Inc.'s tax practices in the U.S. has already rained down hard in the U.K., where multinationals including Starbucks Corp.

The state-owned delivery company said pre-tax profits jumped to �324m from �201m last year and a loss of �165m in 2011. Underlying operating profits soared 165pc to �403m from �152m in 2012.