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BBC Business News

IFS says 'worst of cuts to come'

The Institute of Fiscal Studies' Green Budget says the worst of UK spending cuts are still to come with a "long way to go" before recovery.

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Falling oil price hinders FTSE 100

After closing at a four-month high on Tuesday, the FTSE 100 falls back as a drop in oil prices hits energy stocks.

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GlaxoSmithKline sees sales fall

Drugs giant GlaxoSmithKline (GSK) reports a drop in fourth-quarter sales as demand for its asthma drug Advair remains weak.

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US watchdog to defend net neutrality

The chairman of the US's communications watchdog intends to defend the principles of net neutrality by treating net providers as utilities.

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Staples buys Office Depot for $6.3bn

US office supply store Staples announces it will buy rival Office Depot for $6.3bn in an effort to fend off competition from Amazon.

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Alibaba begins drone delivery trials

Retail giant Alibaba says it is using quadcopter drones to deliver tea to hundreds of its customers in China as part of a test.

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