Apple 'among US's big tax avoiders'. Apple is accused of being "among America's largest tax avoiders" by senators, who say the company avoided paying billions of dollars in taxes.

Marks and Spencer sees profits fall. Marks and Spencer reports a big fall in annual profits, as troubles in its clothing division continue.

Pound falls after dip in inflation. The pound falls after lower fuel prices lead to a lower-than-expected inflation rate of 2.4% for April.

Former Saab cars chiefs arrested. Three former top executives from car maker Saab Automobile have been arrested in Sweden on suspicion of accounting fraud charges.

Scotland 'can afford independence'. Scotland can "more than afford" to be a successful independent country, its first minister says as he launches a paper outlining the nation's economic strength.

Sharp jump in Royal Mail profits. Royal Mail's annual profits more than double, helped by strong growth in parcel deliveries as more people shop online.

London Market Report. The FTSE 100 rises again, but shares in cruise operator Carnival drop sharply after it warns of falling revenues.

G4S chief Nick Buckles steps down. Nick Buckles, the chief executive of global security group G4S, is to step down from his position at the end of May.

Vodafone sales hit by European slump. Vodafone's full-year sales slip for the first time in eight years as tough economic conditions in Europe take their toll on customers.

Data suggests housing market pick-up. The UK housing market is seeing a slight pick-up in activity with mortgage lending and prices both rising, figures suggest.