George Osborne

Sir Mervyn King, the outgoing governor of the Bank of England who has spent more than two decades at Threadneedle Street, is to be made a life peer.

Chancellor George Osborne has denied claims he forced Royal Bank of Scotland (RBS) chief Stephen Hester to stand down from his position, the BBC reports.

FIVE THINGS

HM Revenue & Customs (HMRC) has launched a consultation on two new forms of protection for people caught unfairly by the government's most recent cuts to the lifetime allowance (LTA).

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.

The government has launched a consultation on allowing the transfer of existing savings from Child Trust Fund (CTF) accounts into Junior ISAs (JISAs).

Britain's recovery is gathering momentum on the back of a "stunning" resurgence in manufacturing, economists said, as advertising spending - another economic bellwether - bounced back to levels not seen since the recession struck.

The UK is experiencing a slower economic recovery than 23 of the 33 advanced economies monitored by the International Monetary Fund (IMF), according to analysis.

George Osborne has told the Financial Policy Committee (FPC) to prioritise short-term economic growth while acknowledging the difficulty in managing its dual objectives.

Royal Bank of Scotland is set to unveil its best quarterly figures since the financial crisis, in a move that will spark renewed debate about the bank returning to private ownership.