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Lloyds profits increases to £1.2 billion while PPI compensation costs rise by £1.4 billion

Lloyds Banking Group has set aside a further £1.4bn to cover compensation claims by customers who were mis-sold payment protection insurance (PPI), but has declared a 38% rise in half year profits to … Continue reading “Lloyds profits increases to £1.2 billion while PPI compensation costs rise by £1.4 billion”


UK has exported five million cars since 2010

UK motor industry trade association the Society of Motor Manufacturers and Traders (SMMT) revealed on Thursday that UK car exports have reached five million since the beginning of 2010. Steady growth in the … Continue reading “UK has exported five million cars since 2010”


Fraudulent insurance claims rise to over £110 million in 2013 – Aviva

More than GBP110m worth of fraudulent insurance claims were detected by UK insurance company Aviva during 2013, it revealed on Wednesday. Aviva said its claims fraud detection data for 2013 shows that there … Continue reading “Fraudulent insurance claims rise to over £110 million in 2013 – Aviva”


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 … Continue reading “Co-operative Group suffers heavy losses of £2.5bn in 2013”


UK to spend over $24bn on upgrading and improving road network until 2021

Britain’s road network is to benefit from major improvements over the next 8 years and road building companies are advised to prepare for a huge increase in work as a result of a … Continue reading “UK to spend over $24bn on upgrading and improving road network until 2021”


Bank of England to issue plastic five and ten pound banknotes from 2016

UK banknotes will be printed on polymer, a flexible plastic film, instead of cotton paper, the Bank of England revealed on Wednesday. New GBP5 polymer banknotes will be issued in 2016 and banknotes … Continue reading “Bank of England to issue plastic five and ten pound banknotes from 2016”


Olympic Legacy Budget helps to fund £2.3m London Professional Apprenticeship programme

A new apprenticeships programme in London’s professional services sector is to receive a total of GBP2.3m in funding, comprised of GBP1.4m from the Olympic Legacy Budget and GBP900,000 from professional services firm PricewaterhouseCoopers LLP … Continue reading “Olympic Legacy Budget helps to fund £2.3m London Professional Apprenticeship programme”


Lloyds TSB Bank and Bank of Scotland fined total of GBP28m by FCA

The Financial Conduct Authority (FCA) has found that certain Lloyds Banking Group (LBG) firms did not properly control higher risk features in financial incentive schemes for their staff, which resulted in advisers selling … Continue reading “Lloyds TSB Bank and Bank of Scotland fined total of GBP28m by FCA”


Buyer demand outstrips number of UK homes for sale during November

House prices in the UK are predicted to continue to rise in 2014, according to the Royal Institution of Chartered Surveyors (RICS), which released its UK Residential Market Survey on Monday. The independent, … Continue reading “Buyer demand outstrips number of UK homes for sale during November”


JCB to expand operations in Staffordshire and create 2,500 jobs by 2018

Construction and agricultural equipment manufacturer JCB announced on Friday that its planned investment of GBP150m, for expansion of operations in Staffordshire over the next five years, has been welcomed by the Chancellor of … Continue reading “JCB to expand operations in Staffordshire and create 2,500 jobs by 2018”


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