Marissa Mayer, the new chief executive of Yahoo, has made her first big bet to jump-start growth at the stalled web portal company with the purchase of New York start-up Tumblr, according to two people familiar with the transaction.

In the letter to the leaders of ten crown dependencies and British overseas territories David Cameron said he backed their right to low tax jurisdictions, but insisted rules needed to be set and enforced fairly.

Marks & Spencer's store staff could see their meagre �100 bonus trimmed or ditched after the retail bellwether posts a further fall in annual profits this week.

BAE is moving toward naming its new chairman with the UK defence company's most influential stake-holders expected to make a decision by mid June.

It began as a sideline on a Herefordshire farm little over a decade ago but is now being touted around the world to potential buyers for �100m.