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25.02.26 - 18:51
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One In Five California Home Sales Canceled Due To Unaffordable Insurance (ZeroHedge)
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One In Five California Home Sales Canceled Due To Unaffordable Insurance
Authored by Mike Shedlock via MishTalk.com,
Ponder a $44,000 insurance bill. This does not count as inflation in the CPI.
Dysfunction in California's Insurance Market
The Wall Street Journal reports A $44,000 Bill Shows the Dysfunction in California's Home-Insurance Market
Glenn and Lorraine Crawford paid about $500 a month to insure their home in Agoura Hills northwest of Los Angeles when they bought it in 2012.
The Crawfords say they have little alternative but to pay the bill that arrived last month, which, at more than $44,000 a year, is almost as much as their mortgage bill. The only other insurer willing to cover their home, Lloyd's of London, quoted them $80,000 a year.
More than a year after infernos tore through Los Angeles County, millions of Californians like the Crawfords are suffering through a home-insurance crisis that has rolled on for years with eye-watering rate increases, canceled policies and rejec...
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23.10.25 - 11:12
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Lloyds profits plunge 36% as it feels impact of UK car finance scandal (The Guardian)
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Bank's drop in quarterly earnings comes after it put aside further £800m to cover expected wave of driver claimsLloyds Banking Group profits have been sent plunging by more than a third by the car loans commission scandal, as the lender steels itself for a surge in compensation payouts to drivers.The high street bank took the 36% hit in the third quarter after putting aside a further £800m to cover the prospective costs of a redress scheme proposed by the Financial Conduct Authority (FCA). Continue reading......
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24.07.25 - 12:12
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Lloyds boss warns Reeves against hiking taxes on banks as profits rise 17% (The Guardian)
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Charlie Nunn says higher tax on banking sector would be inconsistent with chancellor's drive for growthBusiness live – updatesThe boss of Britain's largest mortgage lender has warned Rachel Reeves that increasing taxes on banks in her autumn budget would damage Labour's plan for the City of London to power an economic recovery.Charlie Nunn, the chief executive of Lloyds Banking Group, said a rise in bank taxation “wouldn't be consistent” with the chancellor's overtures as the government pushes to reboot growth. Continue reading......
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24.07.25 - 09:30
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Lloyds Banking H1 Results Rise; Confirms Outlook (AFX)
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LONDON (dpa-AFX) - Lloyds Banking Group (LLOY.L, LYG) reported Thursday higher profit in its first half with growth in net income. The company also maintained its outlook for fiscal 2025 and fisca......
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