Lloyds Banking Group

Lloyds Banking Group made a loss of £3.5bn last year - largely due to money set aside to cover payment protection insurance (PPI) claims - and said its bonus pool was down 30% against 2010.

Banking giant Lloyds is to strip five current and former senior bankers of some £1m in bonuses over their role in the mis-selling of payment protection insurance (PPI), according to the Telegraph.

Three of the country's largest pension schemes are in talks to join a lawsuit against Lloyds TSB directors for allegedly misleading investors over the Halifax Bank of Scotland (HBOS) merger.

Phone hacking at News International has cost Rupert Murdoch's News Corporation nearly $200m (£126m) to date, the company said last night, as it warned it could not predict the final bill.

IFAs have welcomed Scottish Widows' plan to re-enter the IFA annuity market as a move they said will boost competition in the sector.

Scottish Widows has revealed it is examining the possibility of re-entering the IFA protection market.

Labour leader Ed Miliband will next week launch an attack on bonus culture in all sectors by calling for a Commons vote on the practice.

A eurozone meltdown would plunge Britain back into a two-year recession and send unemployment soaring above 10%, the Institute for Fiscal Studies (IFS) has warned.

Lloyds Banking Group chief executive António Horta-Osório said he will not take an annual bonus for 2011, a year in which the company's shares fell by 60%.

The ten worst offending payment protection insurance (PPI) mis-selling firms could face costs of over £55m to enable regulators to deal with the problem.