And in the real world: Mortgages, Phorm, M&S, GM/Chrysler

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

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Campaign... daily round-up

Mortgage approvals grew by 19 per cent between January and February, signalling that the housing market is beginning to show signs of recovery, according to figures from the Bank of England. Source

Korea Telecom has begun a trial of the digital technology company Phorm’s monitoring software, which analyses browsing habits online to deliver targeted advertising. The trial has led to Phorm’s shares jumping up from 20p to 465p.  Source

M&S shareholders are preparing a resolution to demand that Sir Stuart Rose gives up his dual role as chief executive and executive chairman a year earlier than expected, as the retailer delivers a trading update today. Source

Barclays has rejected a government taxpayer-backed insurance scheme, which insures it against toxic loans, because the cost of joining was too expensive. Source

President Obama has rejected restructuring plans presented by General Motors and Chrysler to the administration last month. The decision could lead both car manufacturers into bankruptcy if more aggressive plans are not agreed. Source