Sir Mervyn King, like a Scotsman with a grievance, is rarely mistaken for a ray of sunshine - still less for the first cuckoo of spring.

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.

The Scots are accustomed to having their views ignored in the British political system. In 18 general elections since the second world war, the Conservatives have had a majority in Scotland only once (1955), yet they have formed the government nine times.

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.