CLEANING HOUSE: Lloyds is left only with around about £4bn worth of additional Irish mortgages that it will allow to expire over time. Of the assets sold, £300m-worth are impaired, — meaning borrowers are struggling to pay them. Picture: Reuters
CLEANING HOUSE: Lloyds is left only with around about £4bn worth of additional Irish mortgages that it will allow to expire over time. Of the assets sold, £300m-worth are impaired, — meaning borrowers are struggling to pay them. Picture: Reuters

Lloyds sells Irish mortgage business

Lloyds Banking Group has sold its Irish residential mortgage portfolio to Barclays for about £4bn in cash, as part of a plan to focus on its core British market.

The deal was the last action needed to complete Lloyds’ exit from the Irish market, following the closure of its retail banking operation there in 2010.

Fujifilm set to sue

Fujifilm Holdings is planning to sue Xerox, claiming the US photocopier firm has no legal right to unilaterally scrap a US$6.1bn merger between the two companies, according to a senior Fujifilm executive.

"We are currently in talks with lawyers on the schedule for filing the lawsuit and plan to go to court as soon as possible," COO Kenji Sukeno said at an earnings briefing.

In January, Fujifilm and Xerox agreed to merge Xerox into its 56-year-old Asian joint venture, Fuji Xerox, and give Fujifilm control. Xerox pulled out of the deal last week in a settlement with activist investors Carl Icahn and Darwin Deason, who said the deal undervalued Xerox.

Reuters

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