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Lloyds boss Horta-Osório forgoes £2m bonus.  Horta-Osório, who started in the job less than a year ago, could have claimed a maximum bonus of £2.4m last year, or 225% of his basic salary.

Apple suspends retail sales of iPhone 4S in China after scuffles break out between security and shoppers who queued overnight to be told store would not open

McDonald’s is set to extend its sponsorship of the Olympics until 2020 in a deal that could be valued at $100m (£65m ).

RBS Insurance has appointed British Gas commercial director Rick Vlemmiks to head up its newly formed centralised marketing structure, as it prepares for a sell-off by RBS Group.

LLOYDS BANKING GROUP

The part-nationalised British bank has hired Richard Moore, former chief executive of collapsed U.S. brokerage MF Global in Europe, as its head of trading.

PRAMERICA FIXED INCOME

An asset management business of Prudential Financial Inc named Philip Vlieghe a principal, responsible for institutional client relations with Pramerica’s team in London.

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