Lloyds Banking Group has set aside a further £1bn to cover compensation for customers who were mis-sold payment protection insurance (PPI). It brings the bank's PPI bill to £5.275bn so far. The further provision means Lloyds has been pushed into a loss of £144m for the third quarter of the year. After Barclays' recent decision to set aside a further £700m for PPI compensation, the banking industry's bill now stands at just over £12bn. Despite the news, Lloyds' shares rose 7% in morning trading, as investors took heart from the bank's underlying financial position. Lloyds described the further PPI provision as a disappointing "legacy issue".....Read more here: BBC News - Lloyds Banking Group raises PPI bill by a further £1bn