Banks Merger Could Mean the Loss of Thousands of Jobs

Summary

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There were fears for thousands of jobs last night after Lloyds TSB agreed the UK's biggest bank rescue deal with ailing rival Halifax Bank of Scotland.

The Government-approved pounds 12 billion takeover, which values HBOS at a fraction of its worth six months ago, will create a "mega- bank" with nearly a third of the UK mortgage market and more than pounds 300 billion of deposits.

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Extract

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Banks Merger Could Mean the Loss of Thousands of Jobs

It will also have around 3,000 branches, leapfrogging industry titan Royal Bank of Scotland's 2,300 and dwarfing HSBC, which has aro...

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