Lloyds had make a pre-tax profit of £1.1bn in the same three months a year ago Bailed-out Lloyds Banking Group has sunk to a first quarter loss after taking a larger than expected provision of £3.2bn to cover the costs of misselling payment protection insurance. New chief executive Antonio Horta-Osorio has also upped the impairment charge for bad loans by £500m more than expected, blaming the situation in Ireland where the bank was a major lender following its rescue of HBOS during the 2008 banking crisis. It is expecting another 10% fall in commercial property prices in Ireland. The £3.2bn provision for PPI forced the bank to report a pre-tax loss of £3.4bn barely three months after the former boss Eric Daniels had heralded the return to a first full-year profit for the bailed-out bank since the crisis. The bank had make a pre-tax profit of £1.1bn in the same three months a year ago and insisted that its performance was “satisfactory” on what it calls a combined business basis, which strips out the costs associated with the integration. On this measure profits were £284m. The PPI provision follows the high court judgement on 20 April which upheld a ruling by the Financial Services Authority that banks should compensate customers retrospectively for PPI. Signalling a new approach to PPI, where banks have stalled on compensation, Horta Osorio said on Thursday: “It is appropropriate to take a provision now and move on.” The £3.4bn of losses also included integration costs of £333m. The bank reiterated its surprise at the independent banking commission’s decision to suggest more branches should be sold off in addition to 600 branches demanded by the EU in return for almost £20bn of taxpayer aid. For the whole of 2010 the bank took a £13.1bn hit from bad debt provisions – some £5.7bn related to problems in Ireland and Australia inherited from the controversial HBOS deal. Lloyds Banking Group Banking António Horta-Osório Payment protection insurance Jill Treanor guardian.co.uk
Continue reading …Lloyds had make a pre-tax profit of £1.1bn in the same three months a year ago Bailed-out Lloyds Banking Group has sunk to a first quarter loss after taking a larger than expected provision of £3.2bn to cover the costs of misselling payment protection insurance. New chief executive Antonio Horta-Osorio has also upped the impairment charge for bad loans by £500m more than expected, blaming the situation in Ireland where the bank was a major lender following its rescue of HBOS during the 2008 banking crisis. It is expecting another 10% fall in commercial property prices in Ireland. The £3.2bn provision for PPI forced the bank to report a pre-tax loss of £3.4bn barely three months after the former boss Eric Daniels had heralded the return to a first full-year profit for the bailed-out bank since the crisis. The bank had make a pre-tax profit of £1.1bn in the same three months a year ago and insisted that its performance was “satisfactory” on what it calls a combined business basis, which strips out the costs associated with the integration. On this measure profits were £284m. The PPI provision follows the high court judgement on 20 April which upheld a ruling by the Financial Services Authority that banks should compensate customers retrospectively for PPI. Signalling a new approach to PPI, where banks have stalled on compensation, Horta Osorio said on Thursday: “It is appropropriate to take a provision now and move on.” The £3.4bn of losses also included integration costs of £333m. The bank reiterated its surprise at the independent banking commission’s decision to suggest more branches should be sold off in addition to 600 branches demanded by the EU in return for almost £20bn of taxpayer aid. For the whole of 2010 the bank took a £13.1bn hit from bad debt provisions – some £5.7bn related to problems in Ireland and Australia inherited from the controversial HBOS deal. Lloyds Banking Group Banking António Horta-Osório Payment protection insurance Jill Treanor guardian.co.uk
Continue reading …The advice bears repeating: Beware links promising photos of a dead Osama bin Laden . And now we can add: Especially , if you’re a US senator. Scott Brown admitted he got fooled today, reports the Boston Globe . In an interview with a Boston TV station earlier in the day, he asserted:…
Continue reading …Reuters has released a series of photos it says were taken in the aftermath of the raid on Osama bin Laden’s compound. Among them are gruesome images of three dead men, though not of bin Laden. The news agency says it bought them from a Pakistani security official who entered…
Continue reading …A 10-year-old boy was charged today with murdering his neo-Nazi father in the family’s Southern California home. Riverside County prosecutors decided to charge the boy with murder after reviewing the facts surrounding the Sunday shooting of Jeff Hall, a 32-year-old plumber who had carried a swastika flag and led rallies…
Continue reading …The elite special forces team that took down Osama bin Laden is getting lots of credit, but the Sun reminds us that a four-legged member of the team helped, too. One bomb-sniffing dog, probably a German shepherd, took part in the raid. It likely dropped out of a military chopper…
Continue reading …Gray wolves in Montana and Idaho will officially start fearing two words tomorrow: hunting season. The US Fish and Wildlife Service will lift federal protections for the animal under the Endangered Species Act, reports Reuters . The two states have an estimated 1,200 wolves, which is way too many for…
Continue reading …Bad: A Muslim high school student in Houston faced bad jokes and teasing over Osama bin Laden’s death to the point where she began crying. Worse: The jokes came from her algebra teacher, reports KTRK-TV . “I bet you’re grieving,” the teacher told the girl Monday in front of the class….
Continue reading …British-born Choules never liked to fuss over his achievements, which included a 41-year military career and the publication of his first book at the age of 108 Claude Stanley Choules, the last known combat veteran of World War I, died on Thursday at a nursing home in the West Australian city of Perth, his family said. He was 110. “We all loved him,” his 84-year-old daughter Daphne Edinger said. “It’s going to be sad to think of him not being here any longer, but that’s the way things go.” Beloved for his wry sense of humor and humble nature, the British-born Choules nicknamed “Chuckles” by his comrades in the Australian Navy never liked to fuss over his achievements, which included a 41-year military career and the publication of his first book at the age of 108. He usually told the curious that the secret to a long life was simply to “keep breathing.” Sometimes, he chalked up his longevity to cod liver oil. But his children say in his heart, he believed it was the love of his family that kept him going for so many years. “His family was the most important thing in his life,” his other daughter, Anne Pow, said in a March 2010 interview. “It was a good way to grow up, you know. Very reassuring.” Choules was born March 3, 1901, in the small British town of Pershore, Worcestershire, one of seven children. As a child, he was told his mother had died a lie meant to cover a more painful truth: she left when he was 5 to pursue an acting career. The abandonment affected him profoundly, Pow said, and he grew up determined to create a happy home for his own children. In his autobiography, “The Last of the Last,” he remembered the day the first motor car drove through town, an event that brought all the villagers outside to watch. He remembered when a packet of cigarettes cost a penny. He remembered learning to surf off the coast of South Africa, and how strange he found it that black locals were forced to use a separate beach from whites. He was drawn to the water at an early age, fishing and swimming at the local brook. Later in life, he would regularly swim in the warm waters off the West Australian state coast, only stopping when he turned 100. World War I was raging when Choules began training with the British Royal Navy, just one month after he turned 14. In 1917, he joined the battleship HMS Revenge, from which he watched the 1918 surrender of the German High Seas Fleet, the main battle fleet of the German Navy during the war. “There was no sign of fight left in the Germans as they came out of the mist at about 10 am,” Choules wrote in his autobiography. The German flag, he recalled, was hauled down at sunset. “So ended the most momentous day in the annals of naval warfare,” he wrote. “A fleet of ships surrendered without firing a shot.” Choules and another Briton, Florence Green, became the war’s last known surviving service members after the death of American Frank Buckles in February, according to the Order of the First World War, a US-based group that tracks veterans. Choules was the last known surviving combatant of the war. Green, who turned 110 in February, served as a waitress in the Women’s Royal Air Force. Choules met his wife Ethel Wildgoose in 1926 on the first day of his six-week boat trip from England to Australia, where he had been dispatched to serve as a naval instructor at Flinders Naval Depot in Victoria state. Ten months later, they were married. They would spend the next 76 years together, until her death in 2003 at the age of 98. Pow recalls that even in their final days together, they could often be spotted sitting side-by-side, holding hands. “I think it was love at first sight,” Choules wrote in his autobiography. “Certainly on my part, anyway.” He later joined the Royal Australian Navy and settled permanently Down Under, where he found life much more pleasant than in his home country. “I was nobody,” he told Australian Broadcasting Corp. radio in November 2009 of his years in the UK. “But I was somebody here.” He and Ethel had three children, Daphne, Anne and Adrian, now in their 70s and 80s. During World War II, he was the acting torpedo officer in Fremantle, Western Australia, and chief demolition officer for the western side of the Australian continent. Choules disposed of the first mine to wash ashore in Australia during the war. He later transferred to the Naval Dockyard Police and remained in the service until his retirement in 1956. He and Ethel bought a beach house south of Perth and spent the next 10 years cray-fishing, relishing the peaceful moments at the end of their days when they would have tea aboard their boat. In his 80s, he took a creative writing course at the urging of his children and decided to record his memoirs for his family. The memoirs formed the basis of his autobiography, which was finally published three decades later in 2009. He would cite the book as one of his greatest achievements. Even as he passed the century milestone, he remained remarkably healthy and active, and continued to dance until a few years ago. He liked to start each day with a bowl of porridge, and occasionally indulged in his favorite treats: mango juice and chocolate. “He doesn’t have medication because there’s nothing wrong with him,” Pow, his daughter, said on Choules’ 110th birthday. “He’s just going to quietly drift out of life eventually,” she added with a laugh. Still, the aging process took its toll, and in recent years, he grew blind and nearly deaf. Despite that, his children say he retained his cheerful spirit and positive outlook on life. “I had a pretty poor start,” he told the ABC in November 2009. “But I had a good finish.” Australia Military First world war guardian.co.uk
Continue reading …We apparently listened to all those Mel Gibson tapes for no good reason: Ex-girlfriend Oksana Grigorieva dropped domestic violence charges against Gibson today, reports TMZ , which says both the judge and Gibson’s attorney were “visibly shocked” at the move. An order of protection keeping Gibson away from her also has…
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