The FTSE 100 company, which was fined �10.5m in April for mis-selling to thousands of customers, also rejected calls to forgo any executive bonuses, instead cutting them by 40pc.

Wednesday newspaper round-up: Japan, BP, RBS and Lloyds... LONDON (SHARECAST) - The Bank of Japan has held off on new monetary easing, according to the Financial Times, "judging that the huge stimulus unveiled in April will be enough to spur ...

Lloyds said it was confident in its capital position and re-affirmed previous targets for its core tier 1 ratio. Antonio Horta-Osorio, the Lloyds chief executive, said: "Our strong capital position enables the group to actively support growth and lending in the UK ...

Nationwide Building Society, the U.K.'s largest customer-owned lender, said full-year pretax profit rose 3.4 percent as higher impairments in its property finance business offset growth at its consumer unit.

As David Cameron begins an EU offensive on tax avoidance, Oxfam accuses the Government of hypocrisy in its approach. 8:11am UK, Wednesday 22 May 2013.

Inflation is expected to edge down to 2.7 per cent in April from 2.8 per cent in March as lower petrol prices help keep inflation under control.

Royal Mail is expected to unveil a huge jump in annual profits this week as it clears the way for a �3billion stock market flotation later this year.

Fiat Industrial aims to move its tax residency to the UK from Italy after a merger with US business CNH to take advantage of a lighter fiscal regime, according to a regulatory filing.

The taxman had expected to save �8bn by 2015 from reducing errors and fraud in the administration of tax credits, but is expected to miss its target by �5bn.

... Comments. � Japan reports worst April trade deficit � Power giant SSE pre-tax profit up 5.6pc � Europe faces lost decade, says Mark Carney � US and Canada eye Royal Mail stakes after privatisation � Apple: 'We pay every dollar of tax we owe' ...