According to The Guardian, US internet retailer Amazon is to open a new office in London for 1,600 staff next year, moving hundreds of employees from its base in Slough and creating hundreds more of new jobs.

The Guardian cites the monthly GfK index which showed that the consumer confidence index in the UK rose five points to -22 in May as triple-dip recession fears eased.

14% fewer City professionals received any kind of bonus in the past year, according to The Independent which says that “the City fat-cat culture is being reined in”. 82% of people were awarded a bonus in 2011-12 but this slipped to just 68% last year.

Engineering giant Smiths Group is in talks to sell its medical unit for at least £2bn, according to the Financial Times which cited people close to the matter. The discussions come after an approach by potential buyers including US healthcare group CareFusion.

The Financial Times says that annuities business Partnership Assurance is awarding two of its executive directors a joint remuneration package of up to £4.6m if they hit targets ahead of the firm’s stock-market flotation. The company is thought to be valued at £1.6bn.

The British Chambers of Commerce has said that George Osborne must use next month’s spending review to commit to major capital investment, reports The Scotsman. The BCC said that the UK was “performing below its potential”.