6bn hit to profits from fines

Royal Bank of Scotland faces a 6bn hit to its profits over the coming years as it continues to set aside huge sums for fines and compensation, according to a leading investment bank.

Analysts at JP Morgan predicted that the taxpayer owned lender faces the biggest remaining bill for misconduct of the major UK banks, more than six years after its 45bn bail out.

In total, RBS, Barclays, HSBC and adidas originals Lloyds face 15.1bn worth of provisions for expected foreign exchange fines, PPI payouts and penalties related to US mortgages in the next two years, JP Morgan said.

The bank Raul Sinha raised his provision forecasts by 2.8bn on Monday, after saying RBS and Barclays would have to put aside more than previously thought.

When including the 11.5bn of unused provisions the banks already have on their balance sheets, this suggests 26.7bn worth of remaining fines and redress for the banks.

RBS is facing a fine of billions of pounds for selling mortgage backed securities in the US in the run up to the financial crisis.

The bank, 79pc owned by the taxpayer, was dealt a blow in the US Supreme Court on Monday, when an appeal from RBS and three other banks seeking to derail lawsuits from the Federal Housing Finance Agency over the toxic loans was unsuccessful.

The banks had argued that the FHFA had missed a deadline for filing the case.

JP Morgan said RBS will have to take an extra 3.1bn worth of provisions over the case. Although it is unclear when any fine will come, it is expected as soon as the first quarter of this year.

If a large proportion of these provisions are taken when the bank releases annual results for 2014 in February, it could wipe out much of its annual profit expected to be the first since its bail out in 2008.

The fines could also eat into bonuses, following pressure from the City watchdog.

JP Morgan said the industry’s total bill for PPI mis selling will rise above 25bn in the coming years, with Lloyds continuing to bear the biggest cost.

off airport transfers ahead of peak travel season

Summer holiday season is fast approaching and 2016 trends have already seen a rise in staycation breaks, whilst families that are heading abroad, are shopping around for separate hotel deals and flights in a bid to crack down on expensive ‘package’ deals.

Many popular destinations such as Majorca and Malaga are anticipating a big increase in visitors this year, as Brits take advantage of cheap and cheerful holiday deals with airline sales and cheaper accommodation alternatives like AirBnB.

This rise is likely to lead to even longer taxi and car rental queues at airports around the world, according to research by airport transfers service hoppa the firm is urging bookers to get in early this year to avoid the big summer rush.

If you’ve shopped around on your holiday, and managed to bag a bargain break your airport transfer may not be included meaning you’ll either be hopping on local transport on arrival, or opting for a local cab at tourist prices.

To help get you sorted, we’ve compiled a series of pre holiday advice and deals to help you find the best price on your airport transfer in 2016.

Comparison websites like SkyScanner and Go Compare will do all the shopping around for you including across private transfers, shared shuttles, minibuses or coaches to deliver a deal that suits your needs, party size and budget.

You’ll be asked to input details about your destination, dates of travel, adidas obuv pánska price points and travel times you can then book your chosen transfer directly.

Remember: As with car insurance, many companies aren’t registered with comparison sites so ways supplement their findings with your own research.

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Bookers can also redeem 20% off throughout summer 2016 with discount code SUNNY25 you can find HolidayTaxis on SkyScanner but not when you browse through Go Compare.

5. Share a ride Many firms will also offer you the chance to share your ride to help cut costs even further.

For singles, couples and smaller groups, it’s usually cheaper to share an airport transfer service with a number of other passengers and is especially cost effective when you’re staying at the same hotel or a nearby town.

The size of the vehicle will vary and includes people carriers and large minibuses. In general, larger vehicles with more people sharing tend to be cheaper per person as the cost will be spread across the group.

Shared journeys tend to be more cost effective, however, it’s likely the journey will take little longer to get you to your hotel and you’ll have to wait for all passengers before starting the journey.

Tip: If you’re travelling with a large group, opt for a mini bus transfer or ‘shuttle bus’ transfer instead of a series of cabs.

Finding your transfer at the airport

Drivers for private vehicles will usually wait at the arrivals gate with a notice with your name on it.

For shared transport like minibuses, you’ll need to find your way to a pre agreed meeting point (most likely outside the airport or in the car park zone).

Remember: Check your booking documents carefully for instructions on how to locate your transfer. Make sure you take a spare copy, in case of emergency.

On the return leg, your transfer should pick you up at a pre appointed time from your hotel, but some shared transfers may have arranged a central meeting point instead, adidas com originals so check your documents carefully.