The FTSE 100 index was down 51.51 points, or 0.7 percent, at 6,889.13 points at the close on Tuesday, not far from a record high of 6,974.26 points set in the previous session.
Royal Bank of Scotland is aiming to cut as many as 14,000 jobs in its investment banking units across the United States and Asia, the Financial Times reported.
Australia's Bengalla coal mine has been cleared to boost output by a third and operate for another two decades, majority owner Rio Tinto said on Wednesday.
Ryanair wants details of British Airways owner IAG's plans for Aer Lingus, including possible remedies to competition concerns, before it decides whether to accept IAG's offer for its 30 percent stake, its chief executive said on Tuesday.
Prices in British shops fell at a faster pace in February as tough competition drove down clothing and furniture costs, while food prices fell for a second month in a row, an industry body said on Wednesday.