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World - Lloyds bank sets aside £1bn more for mis-selling costs

Britain`s state-rescued Lloyds Banking Group on Wednesday said it had set aside a further £1.0 billion ($1.2 billion, 1.1 billion euros) to compensate customers who were mis-sold insurance. The hit contributed towards LBG reporting a sharp drop in third-quarter net profits, to £219 million compared with a year earlier, the company said in an earnings statement. The update comes amid widespread concern across the financial sector that Brexit will hamper Britain-based banks in carrying out business across the European Union.

Wednesday, October 26, 2016  10:21


World - Britain fines Vodafone £4.6mn for breaching consumer rules

Britain`s media regulator on Wednesday said it had fined telecoms giant Vodafone £4.6 million ($5.6 million, 5.2 million euros) for breaching rules designed to protect customers. Ofcom revealed in a statement that it had uncovered evidence of `mis-selling, inaccurate billing and poor complaints handling processes` for British customers of Vodafone, the world`s second-largest mobile operator. Ofcom said it had conducted two investigations which found Vodafone had failed to credit the accounts of 10,452 pay-as-you-go mobile customers in Britain -- and then mishandled their complaints.

Wednesday, October 26, 2016  15:04


World - Premier League club in probe over fake HSBC letters: report

Premier League club Watford are under investigation for allegedly submitting forged HSBC bank letters to support Gino Pozzo taking control of the club, British media reported on Monday. The English Football League has launched a probe into documentation submitted to the sport authority by Watford in July 2014, The Telegraph newspaper said. Two letters dated a week apart state Hornets Investment Limited, the club`s parent company, had a bank guarantee of £7 million ($8.6 million, 7.9 million euros) to fund Watford for the upcoming season.

Tuesday, October 25, 2016  01:48


World - New `$1 billion` FA Cup broadcast deal agreed

England`s governing Football Association announced on Monday it had agreed a new overseas broadcast rights deal for the FA Cup worth a reported $1 billion (919 million euros, £820 million). While concerns have been expressed within English football that the FA Cup has become increasingly less important as a football tournament following the rise of the Premier League, this broadcast deal is evidence of the ongoing global popularity of the world`s oldest senior football knockout competition. `This is a hugely significant deal for the FA as a not-for-profit organisation,` said FA chief executive Martin Glenn.

Monday, October 24, 2016  19:45


World - Karius Liverpool`s number one: Klopp

Jurgen Klopp says that Loris Karius is now his first-choice goalkeeper after the young German replaced Simon Mignolet during the Reds` run up the Premier League table. Mignolet will be back in action for Tuesday`s EFL Cup tie against Tottenham Hotspur but the competition has long been used by leading clubs to rest key players. Karius, who joined for £4.7 million ($6.1 million, 5.4 million euros) during the summer, played in pre-season but then broke his hand and missed the start of the new Premier League campaign.

Monday, October 24, 2016  19:23


World - Britain pledges millions to secure Calais border

Britain has pledged up to £36 million to maintain border controls across the channel in Calais and to ensure France`s Jungle migrant camp remains closed following its demolition this week, Interior Minister Amber Rudd said Monday. `Whilst responsibility for Calais lies with the French government, the juxtaposed controls are a vital part of the UK`s border security and are a valuable economic link,` Rudd told parliament. `We will continue to work with the French government to ensure that the clearance operation is full and lasting,` she said, adding that French authorities faced a `huge challenge` in clearing the camp.

Monday, October 24, 2016  19:23


Europe - UK troops to join Nato Kosovo force in 2017

The UK is to send about 30 soldiers to join the Nato force in Kosovo next year, Defence Secretary Sir Michael Fallon says.

Sunday, October 23, 2016  00:52

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