PPI

What should I do with my massive PPI payout? There is not a lot you can do with £2.33 these days.

INFLATION

GOSLING'S GROUSE

INFRASTRUCTURE

Barclays has set aside an additional £400m to repay customers mis-sold interest rate hedging products and another £600m for payment protection insurance (PPI) redress.

The final cost to banks of the PPI mis-selling scandal could be as much as £25bn, almost double the figure the banks have estimated so far.

Welcome back! 2013 is upon us and no doubt there will be many serious conversations with clients about ‘what to expect' from the New Year.

Royal Bank of Scotland has posted a pre-tax loss of £1.2bn in the third quarter, as it sets aside a further £400m to cover PPI mis-selling claims.

High street bank staff who missed sales targets were named and shamed, forced to work late and threatened with the sack, according to the Unite union.

Lloyds Banking Group investors have shrugged off the bank's extra provisioning for PPI mis-selling, sending the bank's shares up 7% on better-than-expected progress on cost cutting.