An Indian state consortium is considering making a rival bid for Riversdale Mining, a day after Rio Tinto upped its offer for the firm. On Thursday, Riversdale’s directors said they would be recommending Rio’s improved $3.9bn (£2.5bn) offer to shareholders.

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JJB Sports has announced plans to raise £31.5m from shareholders, three weeks after warning it was likely to breach the terms of a key banking agreement. The retailer said it was raising funds from major shareholders including

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Canada’s Toronto-Dominion Bank (TD) has agreed a deal to buy Chrysler Financial from private equity firm Cerberus Capital Management for $6.3bn (£4.1bn). The price includes $5.9bn for the company’s assets and $400m of

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Toyota has paid $10m to the family of four people killed in a runaway Lexus car in the US in 2009. The amount, agreed in September but kept confidential, was released by a lawyer for the dealership that lent the Lexus to the family.

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The gender pay gap has narrowed as women have seen bigger pay increases in 2010, official figures show. It shrunk to a 10.2% gap between men and women’s median pay – the closest since figures started in 1997, the Office for National Statistics said.

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Anglo-Australian miner Rio Tinto has made an initial $3.5bn bid for Sydney-based Riversdale Mining. Riversdale, whose largest shareholder is India’s Tata Steel, has huge coking-coal projects in Mozambique.

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Two Chinese internet companies have seen their share prices rocket on their first day of trading on Wall Street. Dangdang, an online retailer similar to Amazon, and Youku, which models itself on YouTube, were both floated on the New York Stock Exchange on Wednesday.

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