Showing results for tags 'â£30m'.
Argos owner Home Retail Group is setting aside at least £30m in compensation after admitting thousands of store card customers were overcharged. The company has launched a detailed review into the issue, which relates to "buy now, pay later" plans for some of the retailer's 1.5 million store card holders who were charged excess fees for late payments. Chief executive John Walden said it affected up to 10% of Argos card customers. They are expected to receive compensation of up to £100 each and Home Retail (Other OTC: HMRLF - news) will write to affected customers in
The Financial Services Authority has fined Prudential up to £30m and censured its chief executive Tidjane Thiam. The penalty, first revealed in The Daily Telegraph, relates to the insurer’s failure to have followed the correct protocol in notifying the City regulator ahead of its abortive $35.5bn (£23.4bn) bid for Asian rival AIA in 2010. The FSA said in a statement: "Prudential failed to deal with the FSA in an open and cooperative manner when it was seeking to acquire AIA in early 2010, because it did not inform the FSA of the proposed acquisition until after it had been leaked to the