PRESS DIGEST - British business - July 27

July 27 Thu Jul 26, 2012 8:33pm EDT

July 27 (Reuters) - The Times

LLOYDS TAKES ANOTHER MIS-SELLING HIT

A thousand employees are tied up rejecting bogus compensation claims for mis-sold insurance, Lloyds Banking Group said on Thursday as it admitted that it had been wrong footed about the size of the final bill.

The Telegraph

CENTRICA DEFENDS 23 PERCENT LEAP IN BRITISH GAS

Centrica defended a 23 percent surge in profits at its British Gas household division, insisting the jump was due to the comparison with a "weak" 2011.

MARKETS BUOYED AS ECB HINTS AT SPAIN SUPPORT

The European Central Bank has opened the door to emergency support for the Spanish and Italian bond markets, setting off a blistering rally on bourses across the world.

LLOYDS SETS ASIDE EXTRA CASH FOR PPI MIS-SELLING

Banks need to undergo a "cultural change" after the recent spate of scandals that have hit the industry, Antonio Horta-Osorio, the chief executive of Lloyds Banking Group , has warned.

JJB SPORTS CHIEF EXECUTIVE TO GO

JJB Sports chief executive Keith Jones is to step down from the troubled retailer just weeks after a new chairman was parachuted in to revive the company's ailing fortunes.

The Guardian

REPUBLICANS MERGE AS 'NEW IRA' TO OPPOSE STORMONT

Three of the four main dissident republican terror groups in Northern Ireland are to merge and reclaim the banner of the IRA, in an escalation of attempts to de-stabilise power sharing.

The Independent

FACEBOOK SHARES HIT RECORD LOW

Facebook shares slumped to a new record low on Thursday, after it admitted it could not forecast when it will start to make the big profits investors have been hoping for.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.