The FT analysis makes grim reading for chancellor George Osborne ahead of his 19 March budget. Photograph: Getty Images. Put away the champagne.
The British financier Guy Hands has agreed to end a lawsuit against Citigroup in the United States, though the legal battle may continue in England.
The 91,000 staff of the John Lewis Partnership will receive an annual bonus worth 15% of their salaries. The bonus is the equivalent to almost 8 weeks' pay, but the bonus rate is lower than last year's 17%.
Ross McEwan, new boss of the bailed-out Royal Bank of Scotland, has been handed �3m in shares. Photograph: Lefteris Pitarakis/AP.
A group of banks including taxpayer-owned Royal Bank of Scotland has seized control of the loss-making gym chain LA fitness from its private equity owner since 2005, MidOcean Partners.