BP will on Monday attempt to block what it describes as “inflated” compensation payments to businesses over the 2010 Deepwater Horizon disaster lawsuit at the US appeals court in New Orleans, the Financial Times said.

Negotiations to create free-trade between Europe and US this week could be worth £10bn to the UK economy, according to The Telegraph.

The UK’s opposition government has asked the coalition to detail how it will ensure taxpayers get the best deal from any sale of stakes in Britain’s bailed-out banks Royal Bank of Scotland and Lloyds Banking Group, The Guardian reported.

Carlos Slim, the world’s richest man, has bought a $40m interest in British mobile app company Shazam, The Independent revealed.