In brief: Bank suspension after forex claims, Eco City hit as rival cabs hit the road, Melrose's shares dive as profit soar

The Bank of England today suspended a member of staff following a review into claims that the Bank was involved in foreign exchange manipulation or shared confidential data. The Bank has found no evidence that staff colluded on forex manipulation or shared information but has suspended the staff member for not following internal procedures.

Eco City Vehicles, distributor of the Mercedes Vito London black cab, today warned that new rival models and changes to emission regulations are making life tough. It sold 543 cabs last year, down from 561 in 2012, with revenues up 5% to £32 million. The Vito faces challenges from Nissan and Metrocab taxis due soon. Eco City shares fell more than 10%.

Turnaround specialist Melrose today revealed its profits for last year nearly doubled after buying water meter firm Elster, although this did not stop its shares slumping. Pre-tax profits rose to £226.1 million — up from £117.9 million for the 12 months before — with revenues up 65% to £1.7 billion. But the FTSE 100 firm’s shares fell 23.8p to 304.1p as it warned “sales growth remains challenging”.