Spanish bank giant to acquire B&B

Japanese bank to ask for capital
Japanese banking giant, Mitsubishi UFJ Financial, is to ask investors for up to $10.5bn (£6.85bn)to strengthen its financial soundness.

BAE firm in body armour pay-out
A subsidiary of UK defence giant BAE Systems has agreed to pay millions of dollars to the US government over defective body armour.

Bank giant HSBC axes 1,100 jobs
HSBC announces it is to cut 1,100 jobs, blaming current market conditions for the decision.

Lloyds TSB unveils HBOS takeover
Lloyds TSB releases details of its £12bn takeover of HBOS, a deal that will create a new UK banking giant.

LLoyds TSB set to merge with HBOS
LLoyds TSB agrees to merge with HBOS, at a price of 232p per HBOS share, creating a banking giant.