Lloyds Share News (LLOY)

Labour admitted Ukip had caused "mayhem" last night as early results in council elections pointed to a big swing towards Nigel Farage's party in its heartlands. The Eurosceptics made huge gains across the country, halting Labour's hoped for gains and taking seats off the Conservatives. Ed Miliband's aides blamed a collapse in the Conservative and Liberal Democrat votes as they braced themselves for embarrassing defeats in traditional strongholds such as Hull. But they also admitted that Labour was losing votes directly to the Ukip insurgency with one Labour MP attacking his own party's campaign as "unforgivably unprofessional". - The TimesA rush of company listings created the busiest day for London's IPO market since 2007, despite intensifying fears that investor appetite is waning. The flotation frenzy came as property website Zoopla, high street discounter B&M Bargains, low-cost carrier Wizz Air and advisory firm River and Mercantile Group all unveiled plans to list on the London stock exchange. - The Daily TelegraphRoyal Mail has warned that postal deliveries to rural areas are under threat because rivals are being allowed to cherry pick easy and profitable deliveries in towns and cities without having to run services to isolated homes such as on Scottish islands. After the furore over its sell-off last year, which sparked accusations the soaring share price at the float had effectively lost the taxpayer £750m in a day, the company issued its warning on Thursday over the universal service obligation as it reported a 12% rise in operating profits to £671m. - The GuardianBritain's huge debt interest bill remains on course to hit £1bn a week this year, after official data showed the Goverment borrowed £3bn more in April than forecast by analysts. Public sector net borrowing excluding one-off payments related to Royal Mail's pension plan and quantitative easing gilt coupon transfers, stood at £11.5bn in April, according to the Office for National Statistics (ONS). This was £1.9bn higher than in April 2013, and much higher than the £8.4bn expected by analysts. - The Daily TelegraphAstraZeneca is coming under pressure from investors to consider inviting Pfizer back to the negotiating table as early as August. As the prospect of a £69bn deal being struck before the deadline on Monday fades rapidly, it emerged that BlackRock, the world's biggest money manager and AstraZeneca's leading shareholder, had told the British group's board that its rejection of a £55-a-share bid proposal from its American rival had been right. However, in a sign that AstraZeneca's shareholders are keen to keep the prospects of a merger alive, BlackRock also suggested that the board should consider renewing negotiations in three months' time. - The TimesLloyds bank will next week begin the process of selling 25% of its TSB business through a stock market flotation by end-June, sources revealed yesterday. It is understood that the TSB share sale will be for less than its book value - the basic value of the assets - of £1.5bn, meaning that the bank will take a loss on the sale. - ScotsmanAB