Portugal will spend €4.9bn to rescue its largest listed bank, testing the eurozone’s resilience to another banking crisis just months after Lisbon exited an international bailout.

Royal Bank of Scotland Group, Britain’s largest state-controlled lender, may need to set aside additional provisions to cover rising mortgage losses at Ulster Bank over the next two years, according to Espirito Santo Investment Bank.

Banks helped lift London's leading index sharply higher today after Lloyds Banking Group boss Antonio Horta-Osorio received backing for his plans to overhaul the taxpayer-controlled bank.

PHILOMENA GARVEY, the most famous Irish lady golfer in history played in the inaugural Vagliano Trophy match back in 1959, making it particularly appropriate that, on the first occasion this biennial fixture is contested in Ireland, it should be fought out on the spectacular links of County Louth made famous by Garvey.