CMA largely rejects water company requests for increased spending funded by bills, but customers at five water companies will still pay higher bills
Shares in Lloyds Bank have dropped by 3.5% at the start of trading in London, after it warned shareholders that it could face a larger financial hit from the UK motor finance scandal.
Lloyds told the City this morning that it may need to take an “additional provision” to cover the cost of the issue.
As previously noted, the Group continues to consider the impact and implications of the recently published FCA consultation paper on motor finance. Uncertainties remain outstanding on the interpretation and implementation of the proposals but based on our initial analysis and the characteristics of the proposed scheme, an additional provision is likely to be required which may be material.
This remains subject to ongoing analysis and review of the proposals. The Group will continue to update the market as and when appropriate.
“All these things cause a lot of issues that we don’t know how to answer.
“So I say the level of uncertainty should be higher in most people’s minds than what I would call normal.”
Continue reading…CMA largely rejects water company requests for increased spending funded by bills, but customers at five water companies will still pay higher billsShares in Lloyds Bank have dropped by 3.5% at the start of trading in London, after it warned shareholders that it could face a larger financial hit from the UK motor finance scandal.Lloyds told the City this morning that it may need to take an “additional provision” to cover the cost of the issue.As previously noted, the Group continues to consider the impact and implications of the recently published FCA consultation paper on motor finance. Uncertainties remain outstanding on the interpretation and implementation of the proposals but based on our initial analysis and the characteristics of the proposed scheme, an additional provision is likely to be required which may be material.This remains subject to ongoing analysis and review of the proposals. The Group will continue to update the market as and when appropriate.“All these things cause a lot of issues that we don’t know how to answer.“So I say the level of uncertainty should be higher in most people’s minds than what I would call normal.” Continue reading…
