BATTERSEA Power Station’s next owner may have to commit £700 million (€814.8m) to the derelict London development site before any construction work can be started.

CREDITORS of the Irish- owned Battersea PowerStation asked a court to put the landmark property’s owner into administration the day after Britain’schancellor of the exchequer George Osborne backed a London Undergroundextension to boost the area’s development.

A SHANNON-BASED workforce that was cut by 80 earlier this year contributed to a life assurance company recording pre-tax profits of £29.4 million (€32.5 million) last year.

London: Lloyds Banking Group Plc, Britain’s biggest mortgage lender, set aside £3.2 billion (€3.6bn) to settle claims that clients were improperly sold loan insurance, breaking ranks with British competitors.

IRELAND’S decision last October to guarantee all deposits and borrowings at six Irish banks to prevent a run on the banks rattled governments across Europe, according to a BBC documentary screened last night.