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Unemployment falls to 2.24 million people

Unemployment fell by 77,000 between December and February to 2.24 million, official figures showed today.

The number of people claiming Jobseeker's Allowance last month also fell by 30,400 to 1.14 million, said the Office for National Statistics.

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Wages rise by 1.7% and over the rate of inflation

Average earnings increased by 1.7% in the year to February, above the CPI inflation rate of 1.6%.

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Average Weekly Earnings in Dec-Feb up 1.7% on same time last year http://t.co/sFvlwU6XkF

The increase in earnings will be the first time in six years that the average wage has risen above the consumer price index (CPI), which stands at 1.6% for 2014.

Read More: Wages expected to surpass inflation for first time in 6 years

Starbucks 'will pay more tax in UK' after moving HQ

Coffee chain Starbucks says it will "pay more tax in the UK" in the future after opting to move its European headquarters from the Netherlands to London.

The company said the move would make it "better able to oversee the UK market".

Starbucks is moving its European headquarters from the Netherlands to the UK Credit: DPA DEUTSCHE PRESS-AGENTUR/DPA/Press Association Images

Starbucks has come under scrutiny over its tax affairs in the past, with the company telling a parliamentary committee in 2012 that it had not made a taxable profit for 14 of the 15 years it had been operating in the UK.

Read: Starbucks UK: £30.4 million loss 'an improvement'

Tesco boss: Results reflect trading 'challenges'

Tesco's chief executive Philip Clarke has said that the supermarket's results reflect "challenges" in a rapidly changing trading environment.

Our results today reflect the challenges we face in a trading environment which is changing more rapidly than ever before. We are determined to lead the industry in this period of change.

Having strengthened the foundations of our business in the UK, we are now accelerating our growth in new channels and investing in sharper prices, improved quality, stronger ranges and better service.

– Philip Clarke, chief executive

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UK wages expected to surpass inflation

Wages are expected to surpass inflation today for the first time in six years.

On Tuesday the Consumer Prices Index (CPI) rate dropped to a new four-year low of 1.6%.

ONS figures are expected to show wages have surpassed inflation for the first time in six years. Credit: Press Association

ONS labour market statistics are expected to show that regular pay is rising at a rate of 1.8%, up from 1.3%.

Read more: Inflation is falling, slowly but surely

Virgin Money backs call for inquiry into retail banking

The bank Virgin Money has backed a call from consumer group Which? for a full competition inquiry into retail banking after "woeful" switching rates.

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@virginmoney (a bank) tells me it supports @whichuk call for full inquiry into competition in banking. More soon...

Read: Which? calls for full competition inquiry into retail banking

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