Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

Chinese police probe GSK deals (FT)

Chinese police are probing more than Rmb3bn ($489m) of transactions by GlaxoSmithKline dating back to 2007, according to the chief investigator.

Benefits cap of £500 a week rolls out across Britain (BBC)

A cap on the total amount of benefits that people aged 16 to 64 can receive has begun rolling out across England, Scotland and Wales.

Rent 'unaffordable' for low-income families in third of UK (BBC)

A third of Britain is effectively off-limits to lower-income working families because private rents are unaffordable, a new report claims.

The report comes from the Resolution Foundation, which campaigns on behalf of low to middle-income families.

GlaxoSmithKline accused of "criminal godfather" behaviour in China (Telegraph)

GlaxoSmithKline behaved like a criminal "godfather" in China, dispensing some 3 billion yuan (£323m) in bribes since 2007, Chinese police said on Monday.

Ailing Co-op Bank could seek billions from taxpayers (Telegraph)

Taxpayers risk having to provide billions of pounds of emergency support to the stricken Co-operative Bank if the mutual’s rescue plan fails.