It will take another five years or more to make real inroads into the dominance of Britain’s five biggest banks, a senior Bank of England official said yesterday.

Top bosses at troubled music label EMI are to quit the group as the firm’s new private equity owners prepare to take the company private, it was announced today.

The former boss of EMI's music division quit the troubled group with a £3.6m (€5.32m) pay-off, it was revealed today.

BSkyB today said it had begun the search for a new chief financial officer after Martin Stewart announced plans to leave the pay-TV firm.

THE past 12 months have seen a remarkable turnaround in the financial performance of BSkyB. Having generated a pre-tax loss of £22m last year, final results released this week saw it move back into the black for the first time since 1999, delivering a pre-tax profit of £259.6m.