The Government has netted another £500 million from the sale of shares in Lloyds Banking Group, it was revealed today.
The transactions mean the UK taxpayer now holds a 23.9% stake in the bank, compared with 40% when it was bailed out during the financial crisis.
The amount of money recovered from the bank is now just under £8 billion after the latest round of share sales was launched in December.
Can confirm today that we have raised a further £500m for the taxpayer through Lloyds share sales, taking total recovered to £7.9bn
HSBC chief executive Stuart Gulliver earned £7.6 million in 2014 - including a bonus of £1.3 million and an "allowance" of £1.7m - it was revealed today as the group announced its annual figures.
My Gulliver's bonus was down from last year's £1.8 million, mainly due to the impact of a £216 million fine from the Financial Conduct Authority relating to HSBC's failure to prevent the rigging of foreign exchange operations.
The group today announced a 17 percent fall in its annual profits and Gulliver admitted the bank had "disappointed" in 2014.
HSBC has reported a 17 percent drop in annual pre-tax profits to £12.1 billion.
Chief executive Stuart Gulliver admitted that the banking giant had "disappointed" last year, as its share price slid 3 percent in early trading today.
The results were announced as Mr Gulliver was dragged into the ongoing furore over the bank's tax activities following the disclosure that he has a bank account in Switzerland to hold bonus payments.
The group has been mired in allegations that its Swiss private banking subsidiary helped thousands of wealthy clients avoid tax.
Centrica's chief executive tells ITV News British Gas customers could get a better deal if they switched, but many value service over price.Read the full story ›
The boss of British Gas owners Centrica has said the company will be cutting its investments in order to lower costs following a "difficult year" which saw their profits fall by 35%.
CEO Ian Conn said: "2014 was a very difficult year for Centrica and the recent fall in oil and gas prices creates further challenge.
"We are cutting investment and costs in response."
Centrica, the company who own British Gas, have reported that their profits fell 35% to £1.75 billion last year.
The company also confirmed that profits from their residential energy supply fell 23% to £439 million.
HSBC, in the eye of a storm over tax-evasion, had another uncomfortable knock on its Geneva door this morning.Read the full story ›
The Government's been celebrating new figures that show the number of people out of work has fallen to a near seven-year low.Read the full story ›