3580
Another $1.45b Hit for Lloyds
World Economy

Another $1.45b Hit for Lloyds

Lloyds Banking Group took another 900 million pound ($1.45b) charge to compensate customers for mis-sold loan insurance on Tuesday and unveiled plans to axe 9,000 jobs and about 150 branches to cut costs, Reuters reported. The extra payment protection insurance (PPI) bill will take the bank’s total costs for the issue to more than 11 billion pounds, representing well over a third of the industry’s bill. As part of a strategic plan for the next three years unveiled alongside third quarter results, the bank said it will invest one billion pounds in digital technology.

Short URL : http://goo.gl/nPGQgG

You can also read ...

Google and Walmart are set to start a partnership through which thousands of Walmart products are offered through the Google Home voice-controlled speaker.
Lowe’s Inc the number-two US home improvement retailer,...
Lowe’s Q2 Profit Jumps 21.6%
Lowe’s Inc the number-two US home improvement retailer,...
There were rallies on Wall Street overnight due to US President Donald Trump’s comments.
Asian indexes put in mixed performances on Wednesday following...
Toshiba, Western Digital Start Talks on Memory Sale
Toshiba has begun negotiations with business partner Western...
Blackstone Explores $7b IPO of Gates Global
Private equity firm Blackstone Group LP is exploring an...
Italian 10-year yields climbed 6 basis points to  a 3-1/2-week high at 2.17%
Eurozone bond yields rose on Wednesday, with Italian yields...
China Court Awards US Co. $1.5m in Court Case
A Chinese court has ordered three domestic shoemakers to pay...
Identity Fraud Soars to New Highs in UK
Cifas, the UK’s leading fraud prevention service, has released...

Trending

Googleplus