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Aviva, Friends Life 5.6 billion pound merger plan makes sense: investors

LONDON - Aviva's potential 5.6 billion pound ($8.8 billion) purchase of Friends Life reflects a need to consolidate and cut costs in Britain's insurance industry, fund managers said.

Recent Business News

Giving thanks for big stock gains

NEW YORK - U.S. stock investors head into the Thanksgiving holiday thankful for the market's recent strength, which puts major indexes on track for another year of double-digit gains, though the swiftness of the advance has raised eyebrows.

21 Nov 2014

Lufthansa says it has gained market share in Germany

FRANKFURT - Germany's largest airline Deutsche Lufthansa has won a bigger slice of its domestic market in recent months, its chief executive told newspaper Sueddeutsche Zeitung.

3:08pm EST

Italian bank Intesa eyes UK's Coutts International: FT

- Italy's retail bank Intesa SanPaolo is looking at a possible bid for Coutts International, the wealth management arm of Royal Bank of Scotland , the Financial Times reported.

2:51pm EST

Telecom firms call for change to BT's business broadband 'monopoly'

LONDON - Britain's biggest telecoms service providers have filed a complaint to media regulator Ofcom demanding greater competition in the business broadband market, where they say BT has an effective monopoly.

2:04pm EST

Putin stands by hawkish Russian central bank - for now

MOSCOW - With Russia's economy battered by economic sanctions and plunging oil prices, President Vladimir Putin has allowed the central bank to administer strong medicine, sharply raising interest rates even as it freed the rouble to float.

2:05am EST

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