The Church of England has backed consortium of financiers who are trying to win a bid for 315 Royal Bank of Scotland branches with millions of pounds, The Telegraph reported.

Ted Baker‘s chief executive and founder, Ray Kelvin, is selling a £20m stake of the company. He placed 1.2m shares at £17, representing about 3% of the company, according to The Times.

Jon Corzine, former chief executive of MF Global, and Edith O’Brien, its former assistant treasurer, have been charged in connection with the misuse of nearly $1bn of customer funds before the brokerage’s 2011 collapse, the Financial Times said.

New data from the Office for National Statistics has revealed the crash under Labour during 2008 and 2009 was even worse than previously reported – with gross domestic product falling 7.2%, The Guardian reported.

The rise of social networks and blogs has produced an undisciplined online media world that may do more harm to society than good, said Sean Parker, the first President of Facebook and co-founder of Napster, according to the Financial Times.