Andrew Lloyd Webber Music Videos

Andrew Lloyd Webber, Baron Lloyd-Webber Kt. is a British composer and impresario of musical theatre. Lloyd Webber has achieved great popular success in musical theatre. Several of his musicals have run for more than a decade both in the West End and on Broadway. He has composed 13 musicals, a song cycle, a set of variations, two film scores, and a Latin Requiem Mass. He has also gained a... MORE

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Mis-sold loan insurance hits Lloyds

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Mis-sold loan insurance hits Lloyds www.euronews.com Britain's Lloyds Banking Group has taken another one billion pound hit to compensate customers who were mis-sold insurance on loans - that's almost 1.25 billion euros. The charge dragged it to a loss in the third-quarter. Before this latest provision, Britain's biggest retail bank had already set aside the equivalent of 5.3 billion euros to repay customers who were wrongly sold payment protection insurance on mortgages and other loans. Lloyds, which had the biggest share of the PPI market, said it still does not know how much the mis-selling scandal will eventually cost it. The total cost of payouts for the industry could hit 15 billion pounds (18.7 billion euros) and some analysts have estimated Lloyds' final PPI bill could rise to as much as 7.6 billion pounds (9.46 billion euros). Lloyds reported a pretax loss of 144 million pounds (180 million euros) for the three months to the end of September, compared with a loss of 607 million (756 million euros) a year earlier. However, its underlying profit (without the PPI provisions) rose to 840 million pounds (1.04 billion euros) from 419 million (522 million euros) a year before. *False claims* Lloyds complained that around half of the PPI claims it is receiving from claims management companies (CMCs) are not valid. The CMCs take a sizeable chunk of payouts in return for handling the paperwork for clients. Along with other banks, Lloyds says many cases received from CMCs are erroneous and often relate to ... From: Euronews Views: 92 1 ratings Time: 00:31 More in News & Politics