The 10 biggest business stories on Monday February 22

FTSE 100 bosses warn Brexit would threaten investment in UK; HSBC profit falls; Trinity Mirror confirms launch of new title 'The New Day'

FTSE 100 bosses warn Brexit would threaten investment in UK (AFP/Getty Images)

1. HSBC's net profit for 2015 dropped by 1.2 per cent from the previous year to $13.52 billion (£9.4 billion), after what it called “seismic shifts” in the world economy.

2. Bosses at more than a third of the companies in the FTSE 100 have signed a letter declaring that Britain is better in the European Union, saying a Brexit would threaten investment in the UK and lead to potential job losses.

3. Trinity Mirror has confirmed that it will launch a new mid-market daily newspaper called The New Day. It will initially be priced at 25p for the first two weeks before being priced at 50p. Trinity Mirror says the first day's print run will be 40,000 copies.

4. The British pound has dropped sharply against the dollar over uncertainty about a possible UK exit from the European Union. In early trading in London, the pound was down 1.4 per cent against the dollar to $1.42000.

5. More British consumers are shopping around for their energy, with over 6 million switches made in 2015, according to figures from the industry regulator.

6. London’s law firms are feeling the cost of high rents, with many of the biggest downsizing their offices last year. Rents for the capital’s 100 largest law firms rose 7 per cent last year to an average of £43 per square foot, according to data from CBRE, a real estate advisor.

7. Bovis Homes, British house builder posted a 20 per cent rise in profits before tax, driven by record volume

8. The vast majority of businesses operating in Scotland’s £11 billion food and drink sector expect growth of up to 20 per cent in the coming year, according to a new report by BDO, an accountancy and business advisory firm.

9. Yahoo will begin approaching potential corporate and private equity buyers as soon as Monday as the Web company seeks bidders for its core business, according to people familiar with the process, Bloomberg reports.

10. Facebook has created a new “Social VR” team to explore how we'll communicate in virtual reality. The company made the announcement in a blog post