French arm proves yolk around Egg's neck

Troubled internet bank Egg has reported that its annual pre-tax losses for 2003 have risen to £34.4m (€50.9m), compared to £16.6m (€24.5m) the previous year.

Egg, which is 79% owned by insurer Prudential, said that although it made an operating profit of £72.8m (€107.8m) in the UK, operating loss of £89.1m (€131.9m) in France weighed on the overall figure.