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HBOS reveals debt worsening

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HBOS reveals debt worsening

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More bad news from Britain’s Halifax Bank of Scotland. Britain’s biggest mortgage lender says bad debts and other charges jumped by two thirds in the last two months alone, to nine billion euros so far this year. It blamed loans to companies particularly. The profit warning came just hours before investors voted in favour of a controversial merger with rival Lloyds TSB Group. HBOS shares slumped by 23 percent and Lloyds TSB’s also tumbled.