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The Financial Conduct Authority (FCA) has imposed a penalty of £5.6 million on the state-owned Royal Bank of Scotland for issues in reporting trades to regulators.

The regulator has alleged that the Edinburgh-based bank did not report more than a third of its investment banking deals during a period of five and half years. Misreporting occurred under the leadership of both Fred Goodwin and outgoing chief executive Stephen Hester. The practice also continued after the bank was contacted by the Financial Services Authority in 2010.

British drugs giant, GlaxoSmithKline (GSK) has reportedly admitted to the Chinese authorities that some of its executives might have broken the law in China.

It is believed that the UK economy might have grown faster during the second quarter of the year backed by supportive government policies and improving sentiments.

Figures for the second quarter are expected to be published soon and it is expected that the UK's gross domestic product (GDP) might have grown at 0.6 per cent, which is twice as 0.3 per cent recorded earlier. The rise is expected to the highest since the third quarter of 2011 if special events are excluded.

Los Angeles, July 25 - Socialite

Harare, July 24 : Skipper Virat Kohli was a happy man as India kicked off the five-match series with a convincing six-wicket win over Zimbabwe in the first ODI at the Harare Sports Club here Wednesday.

"Happy with the win. Always good to kick off a tour with a win and personally I was happy with the way I played. The ball was moving around a bit early on and it was all about percentage cricket, rotating the strike and then playing your shots at the end," said Kohli, who was adjudged Man of the Match for his sublime 115.

New Delhi, July 24 : The World Health Organisation (WHO) Wednesday said that though the fight against leprosy has made great progress in the last two decades, complacency may now threaten the last push towards freeing the world of the disease.

The development of multi-drug therapy in the 1980s effectively cured 16 million people in the past 20 years. But in many countries where the disease is endemic, new case-detection rates have been either static or showing increases, WHO warned on the opening day of an international leprosy summit held in Bangkok.