Evening Wrap: today's top business stories

News stories from around the web.

New Statesman

Co-operative Bank outlines restructuring plan to raise £1.5bn (FT)

The Co-operative Group has agreed a debt restructuring to help fill the £1.5bn capital hole in its balance sheet that will result in the mutual group’s banking arm issuing publicly traded shares.

Starboard Value calls for Smithfield Foods break-up (FT)

A large investor in Smithfield Foods has called for a break-up of the US pork producer as an alternative to its planned $4.7bn takeover by China’s Shuanghui International.

Apple discloses US data requests following Prism leaks (BBC)

Apple is the latest tech firm to publish details of data requests from the US authorities.

The firm said it received requests for information linked to between 9,000 and 10,000 accounts or devices between December and the end of May.

Google to tackle child sexual abuse images on web (BBC)

Google has announced a plan to do more to tackle online images of child sexual abuse.

Using both technology and funding, it hopes to find and eradicate images and track down abusers.

Elan shareholders approve share buy back in blow to Royalty Pharma bid (Telegraph)

Shareholders of Irish drugmaker Elan have approved a share buyback at a meeting on Monday, meaning Royalty Pharma's hostile bid for the Irish drug firm will lapse unless a legal challenge it has mounted succeeds.