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China Insurer Ping An to buy London Lloyd's building

A general view of the Lloyds Building, London. Credit: John Walton/PA Archive

China's second-largest life assurer has become the latest Asian investor to buy a City of London property. Ping An Insurance has agreed to buy the Lloyd's in London building for £260 million ($388 million).

The building, a landmark property in London and home to the world's leading insurance market, was owned by German asset management fund Commerzbank.

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Bank security boss admits £2 million fraud

A former Lloyds bank boss from Croydon, who was in charge of online security, admitted a £2.4 million fraud today.

Jessica Harper took the money over a four-year period while working as head of fraud and security for digital banking at Lloyds Banking Group.

Harper stood in the dock at Southwark Crown Court and admitted a single charge of fraud by abuse of position by submitting false invoices totalling £2,463,750.

She also admitted a single charge of transferring criminal property, the money, which she had defrauded from her employers.

The 50-year-old carried on the fraud between December 28 2007 and December 21 last year, the court heard.