Evening Wrap: today's top business stories

News stories from around the web.

New Statesman

BoE names Charlotte Hogg as first chief operating officer (Telegraph)

Charlotte Hogg, a senior executive at Santander UK and daughter of former government minister Douglas Hogg and Baroness Hogg, has been named at the first chief operating officer of the Bank of England.

‘Big three’ container shipping groups plan alliance (FT)

The world’s three largest container shipping lines are aiming to set up an operational alliance on three of the busiest trade routes, in a sign of the tough conditions in the sector.

Mengniu Dairy seeks to rebuild reputation with Yashili stake deal (FT)

China Mengniu Dairy is looking to rebuild its reputation and secure safe supplies of baby formula with a bid to buy Chinese milk powder producer Yashili International, in a deal that is worth more than HK$12.6bn ($1.6bn).

Lloyds denies political pressure in Co-op deal (Telegraph)

Lloyds Banking Group has denied being subject to political pressure to sell hundreds of branches to the Co-operative Group, as its chief executive and chairman were quizzed by MPs on the deal.

Moody's downgrades Co-op as it warns investors may only get a third of their money back (Telegraph)

Ratings agency Moody's has downgraded the troubled Co-operative Bank for the second time in two months, as it warns investors may only get back a third of their original investment, or potentially less.