Tuesday newspaper round-up: HBOS, energy deal, Shell, British Airways

by | Jun 14, 2022

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Victims of one of Britain’s biggest banking frauds will each be offered £3m compensation packages, according to a source familiar with the proposed deal expected to be announced later this week. Halifax Bank of Scotland (HBOS) – which is now part of Lloyds Banking Group – was involved in a major fraud at its Reading branch in the early 2000s. – Guardian

The UK government is close to striking a deal to keep a coal-fired power station in Nottinghamshire open longer than planned as ministers attempt to shore up Britain’s energy supplies. UK officials are in negotiations with the French energy company EDF over plans to extend the operations of the West Burton A power station near Retford. – Guardian

Shell is pursuing a significant expansion of its business supplying electricity to UK households amid intense volatility in energy markets. The FTSE 100 company wants to supply clean power to five million households and electric car drivers by 2030, up from about 1.5m today, as part of plans to diversify away from oil and gas. – Telegraph

 
 

British Airways is facing a summer of strikes after ground and cabin staff backed industrial action in a dispute over pay. Unite, which represents 16,000 BA workers, won a 97pc majority in a ballot for potential industrial action after claiming the airline reneged on a pay deal. The union, the UK’s second largest, is also balloting 500 check-in staff on strikes that could be staged in July when demand is expected to surge. – Telegraph

More than one in every five pounds paid so far by taxpayers to cover bank losses on failed pandemic loans relates to credit issued to suspected fraudsters. New figures show that by the end of March, the government had settled £351 million of claims on the state guarantee to lenders who issued credit under the emergency bounce back loan scheme, £72 million of which banks had marked as potentially fraudulent. – The Times

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