Newspaper journalists from The Guardian initially accused Tesco of tax evasion, the supermarket group has claimed in court documents detailing its libel complaint against the newspaper. Tesco claims it did not avoid hundreds of millions of pounds in corporation tax on a sale-and-leaseback deal, as the paper claimed, and that it told The Guardian so repeatedly before and after publication.

Energy companies should prepare to hand over confidential information on their operations, including trading strategies, as part of an investigation into the UK gas and electricity market, says the regulator Ofgem.In February, Ofgem said it would look into whether the markets were functioning correctly after controversy over rising bills. The findings are due in September.

The pensions regulator will be granted sweeping powers to impose fines on owners of pension schemes that fall into deficit, under plans unveiled by the government yesterday.The proposals immediately came under attack from private equity leaders, who warned they were "incredibly dangerous" and had already caused one large buy-out to be put on hold.

J Sainsbury, Britain's third-biggest supermarket chain, is the latest retailer to attack the Chancellor's call for a charge on plastic bags after announcing plans yesterday to halve the number used by customers.

Banks will be forced to hold a bigger capital buffer against complex assets and high-risk trades under new rules proposed yesterday by the world's most powerful banking regulator.

Tap into a water revoluTODAY the M.E.N. is urging people across Greater Manchester to ditch bottled water and turn back to the tap.

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