Barclays Plc , the first of Britain’s biggest five banks to report annual earnings, may say profit before one-time gains advanced last year, helped by a decline in writedowns at its investment banking unit.
Chancellor of the Exchequer George Osborne said lenders need to share the pain of tax increases as he announced a levy on lenders’ balance sheets. Investors and analysts say banks have dodged a bullet.
RSA Insurance Group Plc, the U.K.’s biggest non-life insurer, made a 5 billion-pound ($7.8 billion) bid for Aviva Plc ’s general insurance business in the U.K., Canada and Ireland, according to two people with knowledge of the situation.
Prudential Plc ’s Tidjane Thiam, who has staked his career on the $35.5 billion purchase of American International Group Inc. ’s main Asia unit, faces pressure from investors on both sides of the transaction as he negotiates to salvage the takeover.
BP Plc’s board approved a plan to name Robert Dudley as chief executive officer, replacing Tony Hayward as the company looks to rebuild after battling the biggest oil spill in U.S. history, two people familiar with the situation said.