The 10 biggest business stories on Thursday February 11

Fed chair signals slower pace of US interest rate rises; Rio Tinto reports slump in profits; Johnston Press in discussions to buy i newspaper

Janet Yellen as sent markets a signal that the American central bank may not push up rates as rapidly as was thought likely at the end of last year. (AP)

1. Janet Yellen, the Federal Reserve chairman, testified in front of United States Congress on Wednesday. She has sent markets a signal that the American central bank may not push up rates as rapidly as was thought likely at the end of last year.

2. Rio Tinto has announced a net loss of $855 million ($596 million) for 2015 because of lower commodity prices and slowing global growth.

3. A rise in demand from buy-to-let investors who are rushing to buy property ahead of a 3 per cent stamp duty tax hike in April are driving house prices up , according the Royal Institute for Chartered Surveyors (Rics).

4. Johnston Press, a regional publisher, confirmed it is in advanced talks to buy national daily newspaper i for around £24 million. Johnston, which owns more than 200 titles including the Yorkshire Post and The Scotsman, said the deal would make it the UK's fourth largest print publisher with more than 600,000 paid copies a day.

5. Thomas Cook's sales have taken a hit, falling 7.2 per cent to £1.41 billion as terror attacks have deterred tourists.

6. Total, the French oil giant, has a reported a 20 per cent increase in an annual net profit to $5.1 billion, compared with $4.2 billion a year earlier.

7. Mylan, the Netherlands-based pharmaceuticals group, has agreed to acquire Sweden’s Meda for Skr83.6 billion or $9.9 billion including debt, in the latest deal to reshape the global market for copycat generic drugs, the Financial Times reports.

8. Whole Foods, the upscale grocery chain, reported profit and sales above analysts' estimates, as its efforts to shed its high-price “Whole Paycheck” image bear fruit.

9. Amazon.com, the world's largest e-commerce company, said on Wednesday its board authorized a $5 billion share buyback program.

10. Twitter's user growth came to a halt in the fourth quarter of 2015, sending the company's shares down as much as 13 per cent. Monthly user numbers came in 3 million below estimates, at 320 million, while revenues just about met analyst expectations of $710 million (£488 million).