A new study into the accounting machinations of corporate America claims that 25 of the country's largest companies last year paid more to their chief executives than they paid Uncle Sam in taxes.

The two-week long strike at Verizon Communications is set to end this week after the unions and the US telecoms group reached an agreement to restart negotiations. Around 45,000 workers are expected to start going back to work, with some resuming late shifts today, and the remainder following suit tomorrow. The weekend pact will see Verizon extend the old contract terms indefinitely while it talks to the unions about changes.

Sportingbet; French Connection

More than 45,000 workers at US telecoms giant Verizon have gone out on strike after the unions walked away from contract negotiations.

US Outlook: Vodafone has been standing there with its little porridge bowl saying, "Please, sir, can I have some more" for so long, the dollop that just landed was bound to warm investors' hearts.

Lloyds was the weakest of the blue chips last night as traders, already wary of banking stocks owing to the impasse over the federal debt ceiling in the US, took note of some bearish comment from Royal Bank of Scotland, the other part-nationalised lender on the FTSE 100.

Vodafone shareholders are set to receive a £2bn windfall next year, after its joint venture in the US resurrected its dividend following years of squabbling between the two partners.

Risers were in short supply on the top-tier index last night, but Vodafone managed to creep up as analysts said fears around the mobile phone giant were wildly overdone.

A surge in demand for smartphones and better-than-expected growth in the UK helped boost Vodafone's annual profits to £9.5 billion today.

April has proven to be a dramatic month for bwin.party so far, and the rollercoaster continued yesterday as it slumped to the bottom of the mid-tier index. Declining 8.6p to 163.9p, the online gambling group was knocked back by sceptical comments over the chances of its being able to operate in the US.

The Philadelphia Orchestra, one of America's most prestigious ensembles and a favourite among classical music lovers around the world, not least in Britain, is expected to file for bankruptcy this week in a desperate effort to pull itself back from the brink of extinction.