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The Lloyds bank units and pension and sovereign wealth funds claim in documents filed at the High Court in London that they cannot be held liable to pay a share of the costs of financing the class action lawsuit. (AP)

Funds Argue Negligence Halts Claim For RBS Litigation Costs

A group of institutional investors that include units of Lloyds Bank has refused to contribute to costs run up by a group that represented Royal Bank of Scotland shareholders who won a £200 million ($264 million) settlement from the lender over a rights issue in 2008.

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Nomura Sues Trustee To Avoid £10M In Pension Liabilities

Nomura International is seeking to avoid raising its pension payments to spouses and children of former staff, which it says would increase its retirement fund liabilities by more than £10 million ($13 million), according to documents filed at London's High Court.

Small Businesses To Gain Access To Financial Ombudsman

More small businesses will be given access to the independent Financial Ombudsman Service to help them resolve disputes with banks outside the court system, the Financial Conduct Authority said Tuesday.

EU To Weigh Banco Popular Shareholder Gripes

The European Union’s Single Resolution Board vowed Tuesday to open a formal process for complaints from shareholders and creditors of Banco Popular who have been denied compensation for the bloc’s decision to sell the failing bank to Santander for a nominal €1.

Charities Seek Exemption From Unpopular Insurance Tax

The U.K. Treasury came under pressure on Tuesday to protect charities from insurance premium tax in this month's Budget amid warnings that the unpopular levy is undermining their work.

Crypto Exchange To Open Dublin Base To Dodge Brexit Risk

Digital currency exchange Coinbase is opening a new office in Dublin as part of contingency plans to give it continued access to customers in the European Union in the event of a "hard" Brexit, the company said Tuesday.