AMP waves goodbye to Britain

AUSTRALIAN financial group AMP declared its ill-fated British adventure over today - but not before announcing a loss of A$5.5bn (£2.25bn).

The second-biggest net loss in the country's history was dominated by heavy losses as AMP rid itself of British assets now trading separately as fund management group HHG.

AMP's net profit before UK write-offs was A$619m compared with A$257m last year.