UK

Lloyds Banking Group reported a loss for the full year to December 2012, much lower than the heavy losses seen the previous year, as reports suggest the UK government is gearing up to sell its stake in the bank.

The UK economy never experienced a 'double-dip' recession, if offshore oil figures are stripped out of the data, said Henderson Global Investors' economist Simon Ward.

UK GDP contracted 0.3% in the last quarter of 2012, according the second reading of the data.

The On-Line Partnership Group, which owns the IN Partnership and Whitechurch networks, has signed a strategic partnership with London & Capital (L&C), making the discretionary's range of managed portfolios available to its 500 advisers.

Henderson Global Investors saw underlying profits fall 8% last year as it struggled in a challenging sales environment and moved to streamline its business.

The Bank of England's deputy governor Paul Tucker has raised the prospect of introducing negative interest rates to boost lending and support the UK economy.

Royal London Asset Management's Ivor Pether will take over management of the £405m RLAM UK Equity fund following the departure of the firm's head of equities, Jane Coffey.

Moody's has stripped the UK of its AAA credit rating on fears over rising government debt and years of slow economic growth ahead.

British defence giant BAE has started a three-year share buyback programme of up to £1bn, despite reporting declines in full year pre-tax profits and revenues.

Sir Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.