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Business headlines at 15:54

M&S Rejects Retail Entrepreneur's Offer
Marks & Spencer has rejected a bid by retail entrepreneur Philip Green for the high street group.

Tate & Lyle Earnings Sour
Sugar and sweetener group Tate & Lyle has revealed a slight dip in full-year profits of £227m.

More Oil Production Fuels Price Hopes
OPEC has agreed an increase in oil production of 2m barrels a day.

Hays To Sell Off Mail Business
Mail service Hays is to demerge its mail business to transform itself into purely a staffing company.

British Gas Sheds Hundreds Of Workers
Centrica is to cut 850 jobs at British Gas as part of a shake-up at the company.

Ban For Equitable Ex-CEO
The former CEO of Equitable Life has been banned from holding a management role at a regulated company for six years.

Buzz Note For Carphone Profits
Carphone Warehouse has beaten forecasts with a 33.8% rise in pre-tax profits of £76.3m for the year.

Service Sector Growth Slows
Growth in Britain's dominant service sector slowed last month.

Green Reveals Marks And Spencer Offer
Retail entrepreneur Philip Green has submitted the outline terms of a possible bid for Marks and Spencer.

Liverpool Deal Not Thai'd Up
Thailand's prime minister has scrapped plans to use a state lottery to buy a stake in Liverpool football club.