RBS Confirms £1.2bn Loss After PPI Hit

RBS has confirmed it made a loss before tax of £1.2bn in the third quarter, compared with a profit of £2bn for the same period last year. As revealed by Sky's City Editor, the bank has set aside a further £400m for the mis-selling of payment protection...

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Car Insurance Cost Fall 'Will Not Last'

Car insurance premiums are said to have gone into reverse gear by £360 (13.6%) for young drivers - but there are concerns costs could rise dramatically after next month's EU gender ruling. Insurance comparison site Confused.com has advised 17 to 20-year-old...

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Lloyds Sets Aside A Further £1bn For PPI

Lloyds Banking Group has set aside a further £1bn to cover costs relating to the mis-selling of payment protection insurance (PPI) - taking its total bill to £5.3bn. The announcement came as the 40% taxpayer-owned bank said it made a pre-tax statutory...

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Taxpayer-Backed RBS Hit By £400m PPI Bill

By Mark Kleinman, City Editor Royal Bank of Scotland (RBS) will tomorrow set aside another £400m for the mis-selling of payment protection insurance, taking the total compensation bill for Britain's big four lenders through the £10bn mark. I have...

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JP Morgan UK Staff Hit By Offshore Tax Demand

JP Morgan workers have been ordered to pay tax - or face legal action - over allegations the firm transferred salary payments offshore, Sky News has learned. HM Revenue and Customs (HMRC) deemed the money as "disguised remuneration" and not retirement...

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Superstorm Sandy Could Cost The US $45bn

Superstorm Sandy, which ripped through the east coast of the US, could cost around $45bn (£27.9bn), according to the latest estimate. The figure, from professional services firm PwC, allows for a rise in original estimations as the full scale of damage...

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Star Wars Given New Hope In £2.5bn Disney Deal

Disney has agreed a deal to buy Lucasfilm from its founder George Lucas and says it will make a new series of Star Wars movies. The US entertainment giant, which already owns brands such as Pixar, Marvel, ESPN and ABC, announced it is paying $4.05bn...

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Heseltine Reveals Radical Local Growth Plan

By Joey Jones, Deputy Political Editor Former Cabinet minister Lord Heseltine has published a sweeping report aimed at stimulating growth, which is littered with criticism of Government inertia and delay. The report, entitled No Stone Unturned,...

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Royal Mail Delivers 1,000 New Parcel Jobs

Royal Mail is to create 1,000 new jobs as it looks to cash in on the boom in online retailing. Royal Mail is planning a £75m investment programme in its UK express parcels business as packages become increasingly important to the company against a backdrop...

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Superfast 4G Launched In 10 Cities Across UK

Superfast 4G broadband is made available to millions of consumers in 10 UK cities today, heralding a new era for mobile phone use. EE, formerly known as Everything Everywhere, is launching its range of 4G products and services in London, Bristol, Birmingham,...

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Exclusive: Lords Unite In Newspaper Deal

By Mark Kleinman, City Editor One of the City's most influential investors is to back an audacious attempt to consolidate Britain's flagging regional newspaper sector by merging the business interests of Lord Rothermere and Baron Iliffe. I can...

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Tearful 'Rogue Trader' Tells Of UBS Losses

A trader accused of Britain's biggest fraud was allegedly trying to cover millions of pounds worth of losses incurred during the financial crisis for the bank he called his "family", a court has heard. Kweku Adoboli, 32, is accused of gambling away...

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Victory For Man Who Took Cold Caller To Court

A businessman plagued by nuisance phone calls offering compensation for Payment Protection Insurance has secured £220 in an out-of-court settlement. Richard Herman, 53, was so fed up with the unwanted calls arriving from India, he decided to take matters...

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