Irish Life Group Ltd chief Kevin Murphy postponed his plans to retire at the end of 2012 as the Government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc.

American insurance broker Marsh & McLennan could cut hundreds of jobs in the UK this spring, it emerged today.

The sixth-biggest mutual fund, Putnam Investments, is to pay fines totaling $110m (€90.93m) over market timing and has agreed to make "far-reaching reforms".

Putnam Investments was slow to respond to allegations of mutual-fund trading abuses when they emerged inside the Boston-based firm four years ago, according to a report from the company’s independent fund trustees.

Wall Street surged again today lifting the Nasdaq composite index to its best close in nearly 22 months as investors welcomed reports of strong growth in the nation’s manufacturing sector and a hefty rise in construction spending.