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.

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.

Most Asian stocks rose as Japanese shares advanced after the Bank of Japan maintained its easing plan. European equity futures were little changed before Federal Reserve Chairman Ben S. Bernanke's testimony on the economy.

Taoiseach Enda Kenny will travel to a summit of EU leaders in Brussels today amid the continuing fallout over the US Senate committee's investigation of the computer giant Apple.