Banking giant Citigroup today said it planned to shed 52,000 jobs with losses falling “particularly heavily” in London and New York.

The saga over Prudential’s sale of internet bank Egg took a final twist today when it emerged the Pru netted less than expected for the firm.

Insurer Prudential agreed to part company with banking group Egg for £575m (€871m) today – just a year after it took complete control of the business.

INSURER Prudential said yesterday it had rejected an approach for online bank Egg, after the Sunday Times reported that Citigroup was con- sidering a bid for the bank.

The London market made further progress today as the Dow Jones Industrial Average traded above 12,000 for the second session running in New York.

Banking stocks led the London market into the red today after Egg owner Prudential warned of a “marked deterioration” in market trends.

The London market slid into the red today as the scale of losses by internet bank Egg hurt owner Prudential.

The London market rallied today as the FTSE 100 Index recovered much of the ground it lost in yesterday’s heavy sell-off.

Stocks caught in a heavy sell-off in London yesterday rallied to prevent the FTSE 100 Index sustaining more heavy losses today.

Insurance giant Prudential sought complete control of internet bank Egg today by pledging to spend £200m (€293m) on buying out fellow shareholders.

Mining giant Anglo American led the London market higher today after promising to return $1bn (€829m) to investors next year.

Mining giant Anglo American put the London market in a good mood today by promising to return $1bn (€828.6m) to investors next year.

Internet bank Egg warned today it was taking longer for the impact of tighter lending rules to filter through into its figures for bad debt.

The new boss of Prudential mapped out his plans for the British insurer today with a pledge to retain ownership of the internet bank Egg.

Insurers provided a boost to the London market today as investors welcomed an upbeat set of results from Prudential.

The FTSE 100 Index pushed ahead today as investors celebrated positive figures from blue-chip companies Prudential and Morrisons.

Internet bank Egg said today that its UK credit card business had done well as it unveiled a move into the black in the first half.

The new boss of UK insurance giant Prudential today unveiled a 31% hike in half-year profits and revealed that a review of the business was underway.

Sophie Hares

Takeover talk swirling around internet bank Egg helped the FTSE 100 Index hit a fresh three-year high today.

US investment bank Citigroup is pondering a potential £1bn (€1.45bn) bid for internet bank Egg, it was reported today.

US credit card firm MBNA was today reported to be lining up a £900m (€1.3bn) bid for online bank Egg.

The FTSE 100 Index racked up its fifth consecutive session of gains today to close at its highest level since mid-April.

The FTSE 100 Index slumped to its lowest level in three months today as a profits warning from B&Q owner Kingfisher cast a chill over the retail sector.

The FTSE 100 Index moved closer to its lowest point this year after a profits warning from B&Q owner Kingfisher further unnerved the retail sector today.

Online bank Egg said today it was axeing senior managers in a £12m (€17.6m) cost-cutting exercise.

The ousted chief executive of insurance giant Prudential is set to receive a payoff of up to £1.8m (€2.6m), it was reported today.

London shares received a pre-Easter boost today when insurance giant Prudential led the FTSE 100 Index to a positive end to the week.

Prudential shares soared 5% today after the insurance giant stunned investors by announcing the departure of chief executive Jonathan Bloomer.

Online bank Egg said today it had been encouraged by recent trading as it looked to move forward after a year of upheaval.

Speculation that Argos owner GUS was on the shopping list of a consortium of private-equity firms and banks boosted the London market today.

Online bank Egg has received an approach for its savings and online brokerage in France from ING Direct France.

Internet bank Egg today offered a glimmer of hope for workers affected by the planned closure of the company’s failed venture in France.

Losses by media stocks and record oil prices sent the London market into the red today.

Record oil prices and a painful session for media stocks ensured the London market’s recent progress came to a juddering halt today.

Online bank Egg is to remain under the control of the Prudential after the insurer today called a halt to its seven-month search for a buyer.

Positive momentum on the London market was being driven by financial stocks today as the sector recovered from yesterday’s decline.

UK-based insurance giant Prudential said today that businesses across the group were “firing on all cylinders” after reporting better-than-expected half-year figures.

Traders were struggling to find reasons to enter the London market today as a poor session in New York and fears over higher interest rates derailed a recent rally.

Financial stocks were in demand as the London market set about breaking a run of four consecutive weekly losses.

Concerns over the high price of oil and the weak US dollar combined to put the London market in a subdued mood today.

Internet bank Egg is just days from being taken over by American credit card company Capital One, it was reported today.

The Iseq closed down 17.88 points today to end the day at 5,303.97.

US credit card firm MBNA is believed to be winning the auction to buy internet bank Egg, it was reported today.