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Peston analyses Lloyds losses

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Lloyds Banking Group made a loss of £3.5bn for the year to 31 December after setting aside £3.2bn to cover payment protection insurance claims.

Business editor, Robert Peston told John Humphrys that "it's not good news," but part of it is also "old news", as the compensation for miss-sold Payment Protection Plans was already known about.


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