Industry

THE ALCHEMIST

Lloyds is coming under pressure from shareholders to sell Scottish Widows, which could fetch the banking giant about £7bn.

THE BIG QUESTION

Before the crunch, all that many investors wanted was superior returns.

Resolution says it will go ahead with a £2bn rights issue later this month even if the Axa deal falls through as the proceeds can be used to fund other acquisitions.

URBANISATION

Our industry is built on innovation and the willingness to support and nurture new ideas.

S&P's Tony Angel says credit ratings fared well during severe conditions and succeeded as benchmarks against default risk

Chancellor George Osborne warned yesterday tough action to cut the deficit is "unavoidable" to ensure Britain is not on the "road to ruin".

Legg Mason's Mary Chris Gay has diversified the financials holdings in the $4.8bn (£3.2bn) Value trust she runs with Bill Miller after the fund's exposure to banks hit it hard last year.