Helen Nugent

Lloyds, investment, compensation and housing

Lloyds Banking Group has set aside a further £475 million for misconduct costs as the bank’s statutory profits more than doubled to £4.2 billion. The Times reports on results that Lloyds called a ‘good overall performance’. Its profits are the highest for a decade and shares in the bank rose by 4 per cent after the announcement. The bank, in which taxpayers own a stake of just under 5 per cent, also unveiled an 11 per cent rise in total dividends to £2.2 billion and the same percentage increase in staff bonuses to £393 million. Underlying profits fell from £8.1 billion to £7.9 billion. Investment

After a sustained period of record low interest rates, investors remain hungry for yield and more investment companies (46 per cent) are paying quarterly dividends to meet this demand.

Research from the Association of Investment Companies suggests almost half of conventional member investment companies which pay a dividend, are now paying a quarterly dividend. That means some 104 conventional member companies are now paying dividends on a quarterly basis, in comparison to 92 conventional member companies (43 per cent) a year ago. In 2010 only 17 per cent of investment companies paid a quarterly dividend. Airline compensation Some good news for travellers today after the BBC reports that five airlines that fly into Europe have been told they must pay compensation to passengers for delays. American, Etihad, Emirates, Singapore and Turkish Airlines will have to obey European laws or be taken to court. According to the BBC, ‘all had told the Civil Aviation Authority that they did not pay compensation when their delays meant passengers missed a connecting flight. But compensation is in fact due if passengers arrive at their final destination more than three hours late.’ Housing

Figures released this morning by the Council of Mortgage Lenders reveal that home-buyers in London borrowed £5.9

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