Lloyds

Lloyds Banking Group has reported a 22% rise in underlying profit to £1.8bn in the first quarter of the year.

M&G's Tom Dobell has been upping his stake in the firm he described as formerly the "worst-run company" in the FTSE 100 in anticipation of a change of fortunes for the business.

FEATURE

Former Prudential chief executive Nick Prettejohn has joined Lloyds Banking Group as a non-executive director and chairman of Scottish Widows.

Investors will find little value in Lloyds Banking Group shares due to "limited" growth prospects, a UK equities manager has said.

Shares in Lloyds Banking Group fell more than 5% this morning after the government sold another 7.8% of its stake in the bank last night.

The government last night sold another 7.8% of Lloyds Banking Group to institutions in its continued effort to return the government-backed bank to shareholders.

Lloyds Banking Group has said it intends to pay its chief executive £4.9m in 2014, as well as paying some staff bonuses worth double their annual salaries.

THE BIG INTERVIEW

Lloyds CEO Antonio Horto-Osorio has been forced to defend his £1.7m bonus, claiming it is in the interests of the taxpayer.