Lloyds sheds 420 personal finance jobs

Harian Padang.com-The latest round of redundancies come as Lloyds, 41 percent government-owned after accepting taxpayer-funded support during the financial crisis, closes personal loans unit Black Horse Personal Finance to new business, the bank said on Tuesday.

Lloyds, Europe's fourth-biggest bank, has been cutting jobs as part of its effort to integrate ailing mortgage lender HBOS, which it acquired in a government-brokered takeover in 2008.

Lloyds' Black Horse motor finance unit remains open for business, and existing Black Horse Personal Finance customers will be unaffected, the bank said.

(Reporting by Myles Neligan; Editing by Golnar Motevalli)

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Volkswagen eyes rehaul of trucking: report

Harian Padang.com-Volkswagen wants to rehaul its trucking activities by boosting its interest in Sweden's Scania while transferring its share in German truck firm MAN to its Nordic rival, the weekly Spiegel reported.

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In its edition to appear Monday, Spiegel said Volkswagen's plans would see the German auto giant boosting its share in Scania to between 75 to 80 percent -- compared with the current 46 percent -- and transferring its 30 percent stake in MAN to Scania.

Scania would then make an offer to MAN shareholders to be the main owner and ultimately merge with MAN, Spiegel reported.

MAN currently holds a 13.4 percent stake in Scania, which it once tried to take over.

Volkswagen could not be immediately reached for comment.

Last July Scania said it was studying a collaboration with MAN to manufacture spare parts.

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