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Lloyds Banking Group posts surging profits
Lloyds Banking Group announced soaring annual profits Wednesday on lower charges linked to an insurance scandal, as it awaits a full return to the private sector following a state bailout. LBG pointed to an "uncertain" economic outlook as Britain prepares to exit the European Union but said the UK economy was in good shape having performed better than expected following last June's referendum in favour of Brexit. Lloyds is cutting 3,000 jobs this year, bringing to 12,000 the number of positions it has decided to axe since 2014, while -- in a sign of its turnaround -- the bank bought Bank of America's UK credit card division MBNA for £1.9 billion in December.
Exclusive: China finishing South China Sea buildings that could house missiles - U.S. officials
![Exclusive: China finishing South China Sea buildings that could house missiles - U.S. officials]( "Exclusive: China finishing South China Sea buildings that could house missiles - U.S. officials")
By Idrees Ali WASHINGTON (Reuters) - China, in an early test of U.S. President Donald Trump, has nearly finished building almost two dozen structures on artificial islands in the South China Sea that appear designed to house long-range surface-to-air missiles, two U.S. officials told Reuters. The development is likely to raise questions about whether and how the United States will respond, given its vows to take a tough line on China in the South China Sea. China claims almost all the waters, which carry a third of the world's maritime traffic.
Russian space craft lifts off for international space station
![Russian space craft lifts off for international space station]( "Russian space craft lifts off for international space station")
A Russian Progress cargo space craft blasted off for the International Space Station from the Baikonur cosmodrome in Kazakhstan on Wednesday, the first such mission since a failed launch in December. The space craft, carried by the same Soyuz booster rocket as used for manned launches, took off at 11:58 (0558 GMT) with the launch broadcast live by NASA TV. It is due to dock with the space station on Feb.24.
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