And in the real world... Phorm, RBS, L'Oréal and more

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

World news... round-up
World news... round-up

Phorm plans to cut its sales and administrative expenses after announcing a pre-tax loss of $48 million, compared with $32.1 million in 2007.
Source: Financial Times

Sir Fred Goodwin, the former chief executive of the Royal Bank of Scotland, has agreed to reduce his £17 million pension by £4.7 million after mounting public pressure.
Source: The Times

General Motors will relaunch in mid-July with a new board of directors and senior managers a month ahead of schedule after filing for bankruptcy protection.
Source:  Financial Times

L’Oréal has won a legal case against rival Bellure, which sells cheap imitations of the French cosmetics giant's perfumes.
Source: Financial Times

Retail rent across the UK will fall by 20 per cent by the end of 2010 and will not return to growth until 2012.
Source: Financial Times

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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).