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US pizza chain, Domino's Pizza Group has indicated that it will slow down its expansion in Germany after the company recorded a loss in the country.

The company lost £3.2million from its 25 stores in Germany during the previous six years and also wrote down £11 million from the value of its operations in the country. Due to the write down in Germany, the global pizza giant's profits fell 46 per cent to £11.6million during the first six months of the year.

A panel involving cross-party lawmakers has urged the government to conduct a review of the existing corporate income tax laws and bring necessary reforms.

British oil giant, BP has said increased its estimate for the total expenditure on providing compensation for the 2010 disaster to £27.7billion.

The company also said that it will appeal $1billion of compensation payments for the disaster after criticising US law firms of trying to cash in on the disaster. About £6.3billion of the total £27.7billion includes claims from people who say that lost money as a result of the oil spill. They are mostly fishermen, hoteliers and restaurant owners in the region.

Los Angeles, July 31:

New Delhi, July 30 :  Force India team principal Vijay Mallya feels the Indian government needs to resolve the tax issues faced by the Formula 1 teams.

Mallya's comments on a day when F1 boss Bernie Ecclestone confirmed to IANS that the Indian Grand Prix will be dropped for 2014 to return in the first half of 2015.

F1 teams have been finding it tough to deal with India's strict tax policies, including the customs duties levelled on them and the drivers on each visit.

Mallya said it would be a pity if tax issues jeopardise the Indian GP, which started in 2011.