Royal Bank of Scotland is still facing potentially painful penalties from the US authorities over the sub-prime mortgage crisis, the Treasury select committee of MPs was warned on Tuesday. Already hit by a £390m fine for rigging Libor and in discussions with regulators over an investigation into potential currency rigging, the bank has been forced to hold more capital by the Bank of England because of the possibility of further fines, MPs were told by Robin Budenberg, the outgoing Chairman of UK Financial Investments (UKFI) The Guardian reports.

British Airways has said it will continue to fight its former employees battling to recoup money from the airline’s pensions fund, after the first of the cases to come to court has been judged in the employee’s favour. The pensions dispute dates back to 2011, when BA switched the APS index-linked pension fund from the retail prices index (RPI) to the lower consumer prices index, The Daily Telegraph explains.

Pet shop chain Pets at Home is considering whether to join the rush of retailers attempting to float on the stock market. The owner of Pets at Home, private equity group KKR, has appointed advisers from Goldman Sachs, Bank of America Merrill Lynch, and Nomura to consider a float in early 2014, which could be worth up to £1.5bn. House of Fraser, Poundland, and B&M Bargains have all lined up investment banks to prepare IPOs as the value of retailers on the stock market rises because of expectations that the British economy is recovering. KKR bought Pets at Home for £955m four years ago, The Daily Telegraph writes.

General Motors is moving its international headquarters from Shanghai to Singapore. While the US car maker will maintain a large presence in China, it said in a statement it would be: “establishing a headquarters in Singapore to lead the company’s umbrella strategy for the region while we maintain the backbone of the organization in China and Korea.” The car maker stressed that it was not quitting China, saying: “China is the world’s largest vehicle market and it demands singular attention and focus for GM to remain a leader,” the Financial Times says.

Lenders are luring lucrative would-be landlords onto their books with a record number of buy-to-let mortgage deals at less than 3%. Banks and building societies have flooded the market with buy-to-let loans and slashed their cost to tempt borrowers into doing business with them. These investors are fast becoming a valuable cash cow for the lenders who view them as a safe bet – but who also charge them more interest than residential borrowers, according to The Daily Mail.