Economics / Markets

Santander has confirmed it is "exploring the possibility" of the sale of a stake in its asset management division.

FIVE THINGS

The Co-operative Bank has appointed the former head of HSBC's North American propositions as its new chief executive.

The head of the International Monetary Fund (IMF) Christine Lagarde appeared before a French magistrate yesterday to face questioning over allegations of embezzlement and fraud.

George Osborne has started the sale process of the taxpayer stake in Royal Bank of Scotland (RBS) and Lloyds, within hours of both banks getting approval from regulators over their capital strength.

European markets recorded sharp falls in early trading on Thursday after Japan's Nikkei 225 index shed more than 1,100 points on concerns the US Federal Reserve may scale back its quantitative easing programme.

The Treasury raised an extra £1.3bn from income tax in the first month since the introduction of the 45p top rate, according to the latest figures.

TOP PERFORMERS

Households and businesses should be told that borrowing costs will remain at rock-bottom levels until the economy is motoring again, the International Monetary Fund has said.

Lloyds has said it will raise £450m in gross proceeds by selling a 15% stake in wealth manager St. James' Place (SJP).