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| Lloyds bank shares slide further | Lloyds bank shares slide further |
| (about 1 hour later) | |
| Lloyds Banking Group shares have fallen 7% in early trading as the bank continues to reel from Friday's announcement of massive losses at HBOS. | Lloyds Banking Group shares have fallen 7% in early trading as the bank continues to reel from Friday's announcement of massive losses at HBOS. |
| Lloyds shares fell 32% on Friday after it announced expected losses of nearly £11bn for 2008 at its HBOS subsidiary. | Lloyds shares fell 32% on Friday after it announced expected losses of nearly £11bn for 2008 at its HBOS subsidiary. |
| Fears are growing that the government may be forced to put more money into the bank, or even nationalise it. | Fears are growing that the government may be forced to put more money into the bank, or even nationalise it. |
| Lloyds, which is 43%-owned by the government, has also been criticised for planning to pay bonuses to staff. | Lloyds, which is 43%-owned by the government, has also been criticised for planning to pay bonuses to staff. |
| Many analysts are now questioning Lloyds' decision to take over HBOS. | |
| Further injection | Further injection |
| The losses forecast at HBOS were much bigger than expected, and sent Lloyds shares sharply lower on concerns that the bank might need a further injection of government funds. | The losses forecast at HBOS were much bigger than expected, and sent Lloyds shares sharply lower on concerns that the bank might need a further injection of government funds. |
| The government has already poured £17bn into the group. | The government has already poured £17bn into the group. |
| FROM THE TODAY PROGRAMME More from Today programme | FROM THE TODAY PROGRAMME More from Today programme |
| Some analysts believe that it may in fact need to be nationalised, like Northern Rock before it. | Some analysts believe that it may in fact need to be nationalised, like Northern Rock before it. |
| Over the weekend, it emerged that the bank planned to reward retail and commercial staff with bonuses reportedly worth about £120m. | Over the weekend, it emerged that the bank planned to reward retail and commercial staff with bonuses reportedly worth about £120m. |
| Lloyds said its employees deserved "financial recognition" for hitting targets, but the group has been criticised by investors and politicians for rewarding failure following the government bail-out. | Lloyds said its employees deserved "financial recognition" for hitting targets, but the group has been criticised by investors and politicians for rewarding failure following the government bail-out. |
| The government and the Tories have said executives should not receive bonuses, but staff on lower salaries should. | The government and the Tories have said executives should not receive bonuses, but staff on lower salaries should. |
| Indeed, the group's five executive directors have all voluntarily agreed to forego any bonus they may be awarded for 2008. | Indeed, the group's five executive directors have all voluntarily agreed to forego any bonus they may be awarded for 2008. |
| Last week, bosses and former bosses of key British banks were grilled by MPs about their role in the financial crisis. | Last week, bosses and former bosses of key British banks were grilled by MPs about their role in the financial crisis. |
| The former heads of the two biggest UK casualties of the banking crisis - Royal Bank of Scotland and HBOS - apologised "profoundly and unreservedly" for their banks' failure. | The former heads of the two biggest UK casualties of the banking crisis - Royal Bank of Scotland and HBOS - apologised "profoundly and unreservedly" for their banks' failure. |