All posts in Banking And Finance

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Co-operative Group suffers heavy losses of £2.5bn in 2013

The Co-operative Group, a British consumer cooperative that operates a range of retail businesses, announced its final results for the 52 weeks ended 4 January 2014 on Thursday, which showed losses of GBP2.5bn for 2013 when compared to losses of […]

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UK Government sells shares in Lloyds Banking Group for £4.2bn

The British government has reduced its stake in Lloyds Banking Group, following the sale of 7.78% of its shares at GBP0.755 per share, HM Treasury announced

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The Co-operative Bank faced with £400 million bill for mis-selling costs

UK mutual business The Co-operative Bank needs to raise approximately GBP400m to meet additional costs related to previous misconduct and poor documentation, following a review, the

Paying off debt

OFT action results in £149m repayment to bank and building society customers

  Action taken by the Office Of Fair Trading ( OFT) has resulted in seventeen UK banks and building societies agreeing to repay an estimated GBP149m in interest and

HM Treasury

Agreement reached with major banks for provision of clearer account data

Payday loans

Payday lenders to face tougher rules on debt collection practices

The Financial Conduct Authority (FCA) announced on Wednesday that it will carry out an in-depth thematic review on the methods used by payday lenders and other high cost

Banking

OFT to address banking service and loan concerns for SMEs

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Barclays reports muted growth in consumer spending during February 2014

Despite positive reports on the UK economy, consumer spending flatlined in February, financial services provider Barclays reported on Monday. According to the bank's Retail and Business Banking arm Barclaycard,

Pension

LV= reports surge in older British retirees extending personal credit

Newly retired people in the UK are under-budgeting and overspending by an average of £6,500 in their first five years of

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New FCA rules on crowdfunding boost consumer protection

UK consumers using loan-based, or securities-based crowdfunding platforms will have access to fair, clear information that is not misleading from April this year, under new regulations announced by

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