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Prudential hit with fine for 'failing to be cooperative'

Prudential has been hit with a £30 million fine for breaching financial regulations. The Financial Services Authority says the company failed to inform them "at the earliest opportunity" that it wanted to acquire AIA, the Asian subsidiary of AIG, in 2010.

Offices of financial services company Prudential in central London Credit: Press Association

Prudential was accused of failing to deal with the FSA in an "open and cooperative manner". The financial services company only told the FSA about its plans after they were leaked to the media.

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Conservation campaign group opposes runway

Brendon Sewill, chairman of the Gatwick Area Conservation Campaign, said: 'We have always been totally opposed to a new runway on environmental grounds, and have had massive support from across Surrey, Sussex and west Kent.

"We have been supported by all the local MPs and all the county, district and parish councils in a wide area. If necessary, we will resume the battle."

Gatwick to undertake new runway options

Gatwick Airport. Credit: Gareth Fuller/PA Wire

Gatwick bosses are beginning detailed work on the option for a new runway at the airport. But the plans will honour a 1979 legal agreement that no runway can be built before 2019.

The options will be submitted to the Government-appointed aviation commission led by former Financial Services Authority (FSA) chief Sir Howard Davies boss which will make its full report in summer 2015.

Gatwick chief executive Stewart Wingate said a new runway at Gatwick "could be affordable and practical" and was a better option than new runways at Heathrow or Stansted airports. For more on this story visit the ITV News Meridian website.