Industry

Banks were told to brace themselves for "payback time", as Alistair Darling put the finishing touches to a Budget that will propose new bank taxes and force them to improve the way they deal with customers and small businesses.

Chancellor Alistair Darling has decided to freeze all income tax bands in the Budget this afternoon, to fund another increase in public spending.

Royal Bank of Scotland and Lloyds Banking Group will agree to lend up to £100bn to customers this year in a new deal with the Government to help businesses and individuals survive the recession.

Lloyds Banking Group could be about to sell its entire stake in St James's Place.

It may be one of the best explanations yet for why the global financial crisis occurred: genuine relationships got processed away in what became an industrialisation of the investment business, says Elizabeth Corley, Europe CEO of Allianz Global Investors...

The Prudential chief executive Tidjane Thiam was under fire from shareholders last night after taking on a second high-profile job while trying to steer the insurer through a record takeover deal.

A one-year investigation into the collapse of Lehman Brothers has found evidence top executives including Dick Fuld approved misleading financial statements.

AIG is selling its American Life Insurance Company (Alico) business to rival MetLife for $15.5bn (£10.3bn), as part of its continued efforts to pay off its federal bail-out.

Aegon UK, the Edinburgh-based life and pensions business, is thought to be in the sights of Clive Cowdery, who heads the Resolution acquisitions vehicle.

Former 3i Group chief executive Brian Larcombe has joined the board of Investment Week's publisher Incisive Media as a non-executive director.