The competition watchdog has unveiled wide-ranging allegations of cigarette price-fixing involving tobacco companies and some of the UK’s leading supermarkets, days after it was forced to make a humiliating apology over incorrect accusations in another antitrust probe.

Using wood to create biofuels, rather than corn and sugar, could be the way to wean the world off oil without triggering a surge in the price of basic foodstuffs, according to one of the world's most powerful pension fund managers.

High street banks could be forced to return billions of pounds in overdraft fees to customers after a high court judge said the charges could be challenged by the Office of Fair Trading.

The installation of smart meters across the country could cost more than £16 billion, dwarfing earlier industry estimates, according to figures released by the Government yesterday.

BP is moving into the plantation business, taking a half share in a billion-dollar venture to produce ethanol from Brazilian sugar cane.

Johannesburg - Anglo American has raised the stakes in its crusade to achieve zero deaths at its mines, warning managers that they would forfeit promotion opportunities if they failed to improve the company's safety record.

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