And in the real world... IBM, further tax rises, record royalties for UK music artists and more.

LONDON - Today's round-up of the biggest business stories.

And in the real world... IBM, further tax rises, record royalties for UK music artists and more.

A proposed deal that would see IBM acquire its computer rival Sun Microsystems for  $7 billion has collapsed after the two companies failed to agree on the price and terms of the deal.
Source: The Times

The chancellor, Alistair Darling, will announce another rise in taxes in this month’s budget after admitting that the Treasury had underestimated the seriousness of the recession.
Source: Daily Telegraph

British musicians including Coldplay and The Cure earned a record £139.6 million in royalties from music exports last year, according to PRS for Music, the royalties collection society for songwriters and composers.
Source: Financial Times

Recruitment professionals have called for a return to good old-fashioned banking to help save Britain’s lenders, with the proposed appointments of Lord Leitch as the new senior independent director of Lloyds Banking Group and Brendan Nelson as the chairman of the Royal Bank of Scotland’s audit committee.
Source: Daily Telegraph

Sainsbury’s has renamed pollack, a cheap and plentiful alternative to cod, as Colin, after a study revealed that many customers are too embarrassed to ask for it. The revamp followed a consultancy project from Wayne Hemingway, the founder of the fashion brand Red or Dead.
Source: The Independent


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