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.

British insurer group Prudential improved annual profits by 39% today as it set out its expectations for a further strong rise in sales growth in the UK this year.

Insurance giant Prudential posted sales figures well ahead of expectations today after achieving strong growth in all its key markets.

British insurer Prudential today said investors had reacted positively to its controversial £1bn (€1.4bn) rights issue.

Major investors in Prudential are planning talks with one of the Uk-based insurer’s key directors in a bid to force its boss to stand down, according to reports.

The chief executive of Prudential is under pressure to step down as investor fury at last week’s £1bn (€1.4bn) rights issue continues to mount, it was reported 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.

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.

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

Prudential reported a sharp fall in 2003 profits today after feeling the pressure from a gruelling year in the insurance industry.

Prudential Chief Executice Jonathan Bloomer has denied that the company is selling its 79% stake in online banking firm Egg to improve solvency requirements under new guidelines.

Insurance giant Prudential saw nearly £1.5bn (€2.1bn) wiped from its market value today on fears it would slash its dividend payout to shareholders as it battles against tough market conditions.

Life assurer Prudential today unveiled record insurance and investment sales of £15.1bn for the first nine months of this year.

Prudential has taken over a US financial services company in a £18b deal.

Prudential is to cut its entire direct sales force with the loss of 2,000 jobs and at a cost of £110m.