Morning Wrap: today's top business stories

News stories from around the web.

New Statesman

GSK seals £1.35bn sale of Lucozade and Ribena (FT)

Suntory of Japan is to pay £1.35bn to buy GlaxoSmithKline’s high profile consumer drinks brands Lucozade and Ribena.

Banks face up to £10bn hidden bill for swaps mis-selling (Telegraph)

Banks face a hidden bill of as much as £10bn to settle mis-selling claims linked to commercial real estate projects, according to research by one of the property sector's largest consultants.

Neiman Marcus up for sale with $6bn price tag (FT)

Luxury US retailer Neiman Marcus is likely to be sold rather than listed, in an unexpected development. Neiman’s private equity owners TPG and Warburg Pincus are close to an agreement with Ares Management and Canadian Pension Plan Investment Board on the terms of a deal that is likely to be valued at more than $6bn, according to people familiar with the matter.

UK economy is turning corner, George Osborne to say (BBC)

The UK economy is "turning a corner", Chancellor George Osborne is expected to say during a speech in London later.

Mr Osborne will cite "tentative signs of a balanced, broad based and sustainable recovery", but is expected to stress that it is still the "early stages" and "plenty of risks" remain.

TSB name reappears across UK High Streets (BBC)

The TSB name is reappearing after 18 years at 600 Lloyds bank branches across the country.

Five million people will have their accounts transferred.