Economics

A row has broken out over the cost of setting up all of the public bodies needed in an independent Scotland.

US pharmaceutical giant Pfizer has abandoned its plans to buy AstraZeneca following an unsuccessful pursuit of its UK rival.

Lloyds Banking Group has announced plans to float a 25% stake in its TSB business next month in a bid to meet European rules on state aid for banks.

Sterling has fallen back below $1.69 after worse-than-expected borrowing figures disappointed those investors hoping for further confirmation the economy is back on track.

Royal Mail has reported a rise in operating profits in its first set of full-year results since floating on the stock market.

Kames Capital's CEO Martin Davis warned the Scottish independence debate will be much closer than anticipated, resulting in wide and long lasting ramifications for the UK and Europe.

Sterling has spiked further against the dollar and other currencies after strong retail sales and minutes of the latest Monetary Policy Committee meeting stirred up the rate hike debate.

The rate of UK CPI inflation rose in the year to April, the first increase in ten months, according to the Office for National Statistics.

Credit Suisse is to pay fines of $2.6bn (£1.6bn) after pleading guilty to helping US clients evade tax.

AstraZeneca has rejected a new takeover bid by Pfizer, arguing it still undervalues the business.