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Japanese Yen has fallen to its lowest level in more than two years against the US dollar on Monday as the country’s central bank continued to face pressure to boot economic stimulus. The national currency today touched 89.67 against the dollar, its lowest since mid-2010 and it was trading at around 120 against the Euro.

World’s biggest package-delivery company, United Parcel Service Inc. (UPS) is planning to scrap its plans to acquire TNT Express NV following the negative response from the European Union regulators.

UPS had announced a $6.9 billion or 5.16 billion-euro bid for TNT Express but the deal ran into troubles after the regulators in Europe expressed reservations on the deal. Following its decision to scrap the deal, USP will pay a termination fee of 200 million euro to the Netherlands based delivery company.

The authorities in the UK are set to release a plan proposing f flat rate pension system for the citizens in the country.

He British government is planning to introduce a flat-rate pension in the country by the year 2017 and the amount will be equivalent to about £144 per week at current terms. It is believed that the self employed people and woman are expected to benefit from the changes in the pension scheme. On the other hand, some workers will be required to pay hundreds of pounds more in order to make the changes possible.

Goldman Sachs Group Inc. (GS) is considering delaying distribution of bonus dues from the previous year in April this year to the next year in the UK.

The company is considering delaying the bonus until after top income-tax rates fall from 50 per cent to 45 per cent. Several financial institutions including banks are considering delaying bonus payments in order to help their save hundreds of pounds in taxes. However, the banks are not acknowledging their plans due to the recent criticism of multinationals over payment of inappropriate taxes in the UK.

Swatch Group has said that it is planning to acquire the luxury jewellery unit of Canada's Harry Winston in a deal valued at $750 million.

The acquisition will allow Swatch to expand into high-end bracelets, rings and necklaces. Swatch Group, which is already the biggest watchmaker by sales in the world, has agreed to pay the amount in cash to acquire the unit. Following the acquisition, Swatch will directly compete with Richemont, which dominates the high-end jewellery market with its Cartier brand.

Sydney, Jan 14 : Malaysian Prime Minister Najib Razak has been mired in a controversy involving a murder, bribery, blackmail, betrayal and political cover-up, setting back his chances of winning the upcoming elections.

Najib has been accused of being involved in the murder of a 28-year-old Mongolian fashion model, Altantuya Shaariibuu, who worked as a translator in a 2 billion-dollar deal negotiation for the purchase of two French-Spanish built Scorpene submarines in 2002, while Najib was defence minister, reports The Age.