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.

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 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.

Wed May 22, 2013 1:14am EDT. * Asian stocks firmer, buoyed by record highs on Wall St. * Fed officials play down speculation of ending stimulus anytime soon.

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.