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 coalition's flagship schemes, including Universal Credit and the West Coast Main Line scheme, are at serious risk of failure, a government annual report has warned.

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.

Ms Lagarde, French finance minister at that time, now appears unlikely to be brought to trial in the case, lifting a cloud that had gathered over her position as leader of one of the world's top international institutions.

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.

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�.

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.

British private equity investor 3i Group has made an offer to buy Barclays' European infrastructure fund management unit, as it seeks to boost assets under management.

Britain came within six hours of running out of gas earlier this year, it emerged yesterday. The severe winter weather coupled with a faulty import pipeline led to supplies being rapidly used up at the end of March.