DAILY BRIEFING: UK’s four largest banks shell out £71bn since financial crisis


DAILY BRIEFING: UK’s four largest banks – Barclays, RBS, Lloyds and HSBC – shell out £71bn in fines, legal fees and compensation since financial crisis

City & Finance Reporter for the Daily Mail

BANK PAYOUTS 

The UK’s four largest banks – Barclays, RBS, Lloyds and HSBC – have had to shell out £71 billion in fines, legal fees and compensation since the financial crisis. 

Lloyds has coughed up the most, paying at least £24.3 billion since 2008.

Hit hard: Lloyds has coughed up the most, paying at least £24.3 billion since 2008

Hit hard: Lloyds has coughed up the most, paying at least £24.3 billion since 2008

Hit hard: Lloyds has coughed up the most, paying at least £24.3 billion since 2008

NORTHERN EXODUS 

The number of Londoners heading north to buy homes has tripled over the last eight years, claims estate agent Hamptons. 

In the first half of 2018 Londoners bought 30,280 homes outside the capital, 21 per cent of which were in the north of England or the Midlands.

INSOLVENCY MOVE 

Government ministers want to tighten insolvency laws to stop ‘reckless’ bosses dissolving their firms to avoid paying off staff or meeting pension commitments.

HOTEL BATTLE 

Sir David and Sir Frederick Barclay, the billionaire owners of the Ritz and the Telegraph, have won a bidding war for the five-star Beaumont Hotel in London. The twins reportedly paid between £125 million and £140 million for the lease.

TROLL TACKLING 

Social media company Pinterest is trying to oust trolls ahead of its public market float next year.

 The website will create a new public misinformation policy, change its recommendation algorithm and expand its safety engineering team.

COLLEGE COLLAPSE 

One of the UK’s largest privately funded college networks, GSM London, is in talks with the Department for Education over securing an emergency funding line to save it from collapse.

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