Eric Daniels, the chief executive who nearly a year ago pitched his perfectly good bank, Lloyds TSB, into a shotgun marriage with a really bad one, hbos, unveiled big losses for the first half of this year on August 5th. They totalled £4 billion for the newly combined Lloyds Banking Group, with provisions of £13 billion for dubious debts. But there is some comfort in the notion that the problem is at least contained, supported by the government's 43% stake in the group.
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