Lloyds Banking Group has unveiled a hefty rise in third quarter profits as chief executive Antonio Horta-Osorio struck a bullish tone on the state of Britain's economy.

British chancellor George Osborne has ruled out a public offering of the UK government’s remaining shares in Lloyds Banking Group ahead of the general election next year.

The British taxpayer’s stake in Lloyds Banking Group has been cut to 25% after the British Government raised £4.2 billion from the sale of more shares last night.

A £3.21bn chunk of UK-taxpayer-backed Lloyds Banking Group has been sold by the British Government as it begins the process of returning the bank to private hands.

A return to dividends at Lloyds Banking Group could be on the cards after its chief executive said the state-backed bank’s improving health increases the possibility of payouts.

A stinging report into the collapse of Halifax Bank of Scotland (HBOS) recommended that former senior executives at the bank should be barred from working again in financial services and severely rebuked the regulator for failing to prevent its collapse.

London: Health and beauty chain Alliance Boots has announced the shock resignation of boss Andy Hornby after less than two years in the role.

Health and beauty chain Alliance Boots has announced the shock resignation of boss Andy Hornby after less than two years in the role.

Taxpayer-backed Lloyds Banking Group today announced it was putting on hold further UK branch closures until the end of 2011 as its new boss Antonio Horta-Osorio completes a strategy overhaul.

Part-nationalised British bank Lloyds said today that it would axe another 650 jobs and shut a site in Nottingham as part of a raft of changes.

Part-nationalised British bank Lloyds today confirmed it returned to profit in the first three months of the year after a marked slowdown in bad debts.

The Taoiseach Brian Cowen has said he regrets the decision of Halifax Bank of Scotland to close its retail banking operation in Ireland with the loss of 750 jobs.

Halifax Bank of Scotland Ireland has announced it is pulling out of Ireland with the loss of 750 jobs.

The world's biggest catering firm today said it was unlikely to see a return to sales growth in the financial year ahead as economic woes continue to hit corporate hospitality spend.

Lloyds Banking Group today set out details of its £13.5bn (€15bn) UK record cash call to the bank’s army of 2.8 million private shareholders.

British prime minister Gordon Brown said today there should be a "clawback" system for UK bankers' pay if deals went wrong, as he pledged to speed up reform of financial markets.

Lloyds Banking Group gained today in the FTSE 100 Index amid reports that it plans to close its Cheltenham & Gloucester branches.

Banking giant Lloyds is to close its Cheltenham & Gloucester branches as part of a fresh wave of cuts which will see more than 1,000 jobs axed, it was revealed today.

The London market enjoyed a reversal of fortunes today as it leapt into the black after better-than-expected US consumer confidence figures.

The FTSE 100 Index drifted lower today as fresh belligerence from North Korea unsettled investors.

Lloyds Banking Group is preparing to launch a mega sale of stakes held by recent takeover target Halifax Bank of Scotland in some of Britain’s best-known companies, reports said today.

Lloyds Banking Group’s hunt for a new chairman was underway today following the resignation of Victor Blank.

BANK of Scotland (Ireland) has, as expected, reported a sobering set of annual results for 2008 — with a pre-tax loss of €250 million replacing a profit of €272m from the previous year.

Huge payouts to executives at banks bailed out by the British government were under scrutiny tonight amid legal moves to claw back any unnecessary payments.

Lloyds Banking Group said today that it expected annual cost savings of at least £1.5bn (€1.6bn) by the end of 2011 after its acquisition of Halifax Bank of Scotland (HBOS) was completed.

Marks & Spencer shares rallied today despite fears of a worst-ever Christmas for the leading high street chain.

The London market began the wind-down to Christmas today as the market drifted lower amid thin trading volumes.

A five-year Government blueprint aims to protect the Irish economy from the global recession, the Taoiseach said today.

A €10bn initiative to shore up Ireland’s banking sector was underway today.

World markets were shaken today after US plans to bail out the beleaguered car industry stalled in the Senate.

Ulster Bank and First Active have confirmed they will only be passing on 0.5% rate cut.

Miners and retailers were under pressure today as the FTSE 100 Index gave up some of the 500 points secured during last week’s rally.

British taxpayers will take a 57.9% stake in Royal Bank of Scotland after investors snubbed its £15bn (€17.9bn) share offer, the bank said today.

London’s leading share index remained in the red today despite a late session boost from Wall Street.

The London market sank into the red today as falling oil prices overshadowed advances from caterer Compass and platinum specialist Johnson Matthey.

British taxpayers were sitting on paper losses of around £2.5bn (€2.9bn) today as the deadline for Royal Bank of Scotland’s £15bn (€17.5bn) share offer expired.

Investors in Barclays will meet today to approve a £7bn (€8.2bn) fund-raising which could put almost a third of the bank in the hands of Middle East investors.

Lloyds TSB has begun sounding out potential buyers for an arm of Halifax Bank of Scotland (HBOS), it was reported today.

Two former Scottish bankers conceded defeat today in their battle to force a rethink on the Halifax Bank of Scotland takeover by Lloyds TSB.

The London market suffered a second session of heavy losses today as fears over the scale of the global recession continued to haunt stocks.

Shareholders in Halifax Bank of Scotland were assessing their options today after the bank’s chairman said it could face nationalisation if the proposed takeover by Lloyds TSB was rejected.

British Airways shares led a fightback for the FTSE 100 Index today as the flagship airline said it still expected to make a profit in the current financial year.

Banks – including the UK’s biggest lender – are under growing pressure today to reduce their interest rates in line with the Bank of England’s massive 1.5% cut.

The London market surged more than 4% today as investors banked on an aggressive cut in interest rates later in the week.

London’s leading shares rose 2% today as traders looked ahead to a strong opening on Wall Street.

Brian Lenihan has signed a ministerial order designating the first group of banks and building societies to participate in the state guarantee scheme.

A dramatic slide for share prices worldwide today killed off any hopes that markets could be on the mend after the recent banking crisis.

The City of London’s “short-selling” ban and disclosure rules for UK financial stocks will not be lifted early, the City watchdog confirmed today.

Insurers made strong advances on the London market today as blue chip stocks regained their poise in a less volatile session.

Battered financial stocks HBOS and Aviva recovered ground today as the FTSE 100 Index consolidated gains seen over the past two sessions.