Prudential, the UK’s biggest insurance company, is negotiating with AIG, the American insurance company to buy their Asian business, AIA, for more than £23 billion. It’s up for sale as part of AIG’s mission to repay the US government the $180 billion it spent saving the company from collapse in 2008. We get results today from HSBC, where according to reports over the weekend, its boss Michael Geoghegan is going to give away his £4 million bonus to charity. Next month’s budget is fast approaching and the country’s supermarkets are among those getting in early to bend the Chancellor’s ear. Everyone agrees the deficit must come down but the British Retail Consortium is calling for spending cuts rather than tax hikes as a way to get the public finances back into balance.
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