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.

Senior figures close to the consortium - led by Canadian infrastructure investor Borealis Infrastructure - confirmed that a second offer was highly likely after the water company rejected a sub-�5bn bid earlier this month.

The government will oppose attempts to set a new renewable energy target within the EU, in a move that could put at risk tens of billions of pounds of green investment and tens of thousands of new jobs.

More than 30 of the coalition's flagship schemes, including Universal Credit and high-speed rail, are at serious risk of failure, a report says.

Angry shareholders of HSBC on Friday bombarded the group's board with barrage of accusations ranging from financing Mexican drug cartels to supporting tax havens, slashing jobs and mis-selling products.

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.

The euro zone has been reminded lately that although investors are showing renewed confidence in its financial markets that its crisis is still simmering below the surface.

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.

Booker, Britain's biggest cash and carry wholesaler, lifted pre-tax profit by 13 per cent last year, as sales reached �4bn for the first time.