|Ryanair chief rapped by Advertising Standards Authority over Thomas Cook Group plc adverts|
|Wednesday, 07 March 2012 09:18|
News round up: Thomas Cook, Ryanair, HSBC Holdings plc, Payment Protection Insurance, Impala Platinum, Lehman Brothers, British institutions, and Iceland.
HSBC Holdings plc
HSBC has quietly revealed it paid the directors of its UK retail bank a total of 64% more in 2010 than it disclosed in its accounts at the time. The report and accounts for HSBC Bank published last week show that directors were paid £5.019m rather than the £3.076m disclosed in the 2010 accounts.
Payment Protection Insurance
Banks could end up paying an extra £6.4bn in controversial payment protection insurance payouts to millions of ‘forgotten victims’, new Money Mail research shows. The City watchdog, the Financial Services Authority, is ordering banks, insurers and brokers to write to 12million PPI customers who have yet to claim, telling them they may be due a payout.
The glinting steel of the platinum smelting works soaring above the once-orderly grainfields of Selous comes as a shock. It was here, west of Harare, that white farmers were driven out by President Mugabe’s hired thugs a decade ago. From today, the Zimplats complex — the result so far of a $1.8bn (£1.1bn) investment by South Africa’s Impala Platinum through its 87% stake in the Zimbabwe-based company — is in serious danger of becoming another symbol of Mr Mugabe’s ruin, to set alongside the wasted farmland that surrounds it.
More than three years after its collapse sparked the worst of the financial crisis, Lehman Brothers yesterday emerged from bankruptcy. The investment bank will not return to making bets on the markets and advising on deals, but has instead started the long process of selling off its remaining assets and paying back creditors and investors. The first group of payments to creditors will take place on April 17 and is expected to be worth at least $10bn (£6.4bn). In total, $65bn will be paid back, The Times reports.
Backing for British institutions such as the monarchy, the pound, and even the nationwide BBC Six O’Clock News has risen in Scotland at the same time as support has grown for a more powerful Scottish Parliament, a new poll reveals today.
Senior members of Iceland's former government have accused the UK of making "unreasonable demands" in the run-up to the financial crisis that doomed attempts to rescue one of the country's biggest banks. On the second day of the trial of Geir Haarde, the country's prime minister during the country's banking collapse, Bjorgvin Sigurdsson, the country's former trade minister, was sharply critical of the stance taken by former Chancellor Alastair Darling and the Financial Services Authority (FSA).
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