The mutual needs to raise as much as �1.8bn to repair its bank's balance sheet and said on Friday that it was �undertaking an extensive review� of the business.

Britain's largest bank HSBC suffered an embarrassing shareholder revolt as more than 14pc of investors failed to back its directors' pay packages.

More than 30 of the Government's flagship projects are at serious risk of failure with some classed as unachievable, Whitehall documents have revealed.

Households paid off �241m more mortgage debt than they borrowed in an effort to get on top of their debts. Before May last year, net lending had never been negative since the BBA started collecting the data in 1997.

Suffolk's growing reputation as the �green coast� has received a major shot in the arm after officials approved a 140 turbine offshore wind farm.

Bus drivers on the Isle of Man have started a 12-day strike, their fifth since December. Unite the Union rejected a final offer from The Department of Community, Culture and Leisure on Friday afternoon.

Mario Draghi, president of the European Central Bank, tackled the political debate surrounding Britain's EU membership on Thursday night, telling a City of London audience that Europe needed �a more European UK�.

Activity in the vital services sector increased, according to the latest Markit PMI survey for April giving the clearest indication yet that the economy is improving.

With the cold weather continuing to increase demand for gas and a lack of investment meaning there is little storage capacity UK gas reserves are at a critical level.

TAXPAYERS could end up footing a �62 million bill for restoring coal mines in one local authority area following the collapse of Scotland's largest mining companies.