John-Paul Ford Rojas

Shell has pulled out of controversial drilling off the coast of Alaska after failing to find sufficient signs of oil and gas to make further exploration worthwhile.

Discount retailer Aldi reported a fall in profits today as the supermarket price war took its toll on earnings despite sales surging to a new record level.

The taxpayer stake in bailed-out Lloyds Banking Group has fallen below 12pc after the Government sold another 1pc chunk of the lender.

Discount retailer Poundland took a shares hit after warning over half-year profits as it also revealed takeover target 99p Stores was in weaker financial health than previously thought.

Fashion retailer French Connection sank deeper into the red today after a poor sales performance over the spring extended into the following months.

Workers are enjoying the strongest rise in real terms regular pay for more than a decade but the number of those without work is rising, according to official figures.

The boss of JD Wetherspoon launched a fresh attack on ministers over living wage and tax policies as the pub company reported a 25pc fall in profits today.

The best performance in 17 years from firms in areas such as accountancy, law and marketing helped Britain's dominant services sector bounce back after a weak start to the year, CBI figures show.

Sainsbury's is to increase wages by 4pc for 137,000 employees from this weekend, the supermarket said.

Volatile stock market conditions took their toll again today as the FTSE 100 Index plunged after sharp gains in the previous session.