The taxpayer could lose about £2bn once the assets of collapsed bank Northern Rock are wound down, the National Audit Office estimates.

Private rents in England and Wales went up by 0.5% in April, according to letting agency group LSL Property Services.

Asking taxpayers and child benefit recipients to reveal information to their partners is legal, HM Revenue & Customs says, despite claims it breaks confidentiality rules.

The US says it will impose import tariffs of about 30% on Chinese solar companies, saying China is flooding it with subsidised products.

The UK agrees a £50m trade deal to sell British pork to China, the world's biggest market for pig meat.

European stock markets open lower after a ratings agency downgrades 16 Spanish banks and uncertainty continues about the fate of Greece.

Chinese property prices continued to fall during April after the government kept policies in place to curb speculation.

Pubs group Mitchells & Butlers reports a sharp slowdown in sales, saying the recent wet weather has led to fewer customers.