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Evening Wrap: today's top business stories

News stories from around the web.

New BoE chief Carney will devalue sterling, Pimco warns (Telegraph)

Mark Carney will try to devalue the pound by as much as 15pc after he takes over as Bank of England Governor in July in a last ditch attempt to cement the UK recovery, Pimco, the world’s largest bond house, has warned.

Jaguar Land Rover roars ahead to record £1.67bn profit (BBC)

Profits at Jaguar Land Rover have roared to an all-time high.

Pre-tax annual profits at the Coventry-based vehicle maker rose 11% to £1.67bn and helped temper a 36% fall in profits at the company's parent group, Tata Motors.

Switzerland frees banks to comply with US on tax (FT)

Switzerland and the US have taken a big step towards resolving the bitter and long-running dispute over tax evasion that has soured relations between the two countries.

Goldman Sachs and UBS appointed to lead Royal Mail flotation (FT)

Goldman Sachs and UBS have been appointed as the lead banks to run the flotation of the Royal Mail, the largest UK privatisation for two decades.

European countries to be allowed to ease austerity (BBC)

The European Commission has said it will allow some EU member states to slow their pace of austerity cuts, amid concerns over growth.