Business headlines

APPLE PROFIT 'BIGGEST IN HISTORY'
Apple's first quarter profit of $18bn is the biggest ever quarterly profit for a public company, according to Standard and Poor's.

ENGLAND DRIVES GLOBAL FOOTBALL DEALS
Football clubs spent a record £2.7bn in international transfers in 2014, with English football clubs accounting for £795m of the total.

YAHOO TO SPIN-OFF ALIBABA STAKE
Yahoo has announced a plan to spin-off its 15% stake in China's Alibaba Group and hand the business to its shareholders.

ELECTRONIC ARTS SHARES UP ON RESULTS
Shares in Electronic Arts jump almost 5% after the video games publisher reports stronger than expected results.

ASIAN SHARES LOWER ON US EARNINGS
Asian shares traded lower on Wednesday with markets tracking losses on Wall Street on Tuesday.

CITY LINK OVERTIME 'WILL BE PAID'
City Link employees will receive overtime payments, according to Jon Moulton, the founder of the company which owns the collapsed parcel delivery firm.

UK ECONOMIC GROWTH HITS 2.6% IN 2014
The UK's economy grew by 2.6% last year, the fastest pace since 2007, but there was a slowdown in the last three months, figures from the Office for National Statistics show.

DUBAI CLAIMS HEATHROW'S TRAFFIC CROWN
Dubai International has taken over from Heathrow as the world's busiest international airport in terms of yearly passenger numbers.

EDF TO CUT GAS PRICES BY 1.3%
EDF says it will cut gas prices by 1.3%, the last of the "big six" energy firms to reduce prices in the wake of a fall in the wholesale price of gas.

US SHARES HIT BY WEAK EARNINGS
US stocks fall sharply following a string of disappointing company results.