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John Lewis website crashes amid Black Friday rush

The John Lewis website is 'not available' Credit: Joel Hills/Twitter

John Lewis's website has crashed as it was overwhelmed with shoppers looking for an online deal on Black Friday.

John Lewis apologised to customers in a statement to ITV News.

There are record levels of demand for our website today and for some people it is taking longer than normal to shop on We apologise to customers for any inconvenience caused.

– John Lewis press office

Barclays fined £72m for 'poor handling of crime risks'

Barclays bank has been fined £72 million for "poor handling of financial crime risks" by the Financial Conduct Authority (FCA).

Barclays has been fined £72m Credit: PA

The fine relates to a £1.88 billion deal arranged by the company in 2011 and 2012, involving a number of "ultra-high-net-worth" and "politically exposed" clients.

The transaction - the largest of its kind executed for individuals in Barclays' history - involved investments in notes backed by underlying warrants and third-party bonds.

The FCA found that Barclays did not apply its usual standards of care and diligence in making the appropriate checks and requesting the necessary information.

Barclays went to unacceptable lengths to accommodate the clients. Specifically, Barclays did not obtain information that it was required to obtain from the clients to comply with financial crime requirements.

Barclays did not do so because it did not wish to inconvenience the clients.

– FCA statement


Government sells £13 billion of Northern Rock mortgages

Credit: PA

The Government has sold £13 billion of Northern Rock mortgages in what is the largest ever financial asset sale by a government in Europe.

The mortgages have been sold to investment firm Cerberus Capital Management.

UK Asset Resolution (Ukar), the "bad bank" created in 2010 to run down the loans in Northern Rock and Bradford & Bingley, said the sale would include residential mortgages and unsecured loans from Northern Rock Asset Management.

The Treasury said all proceeds will be used to pay down the national debt.

The sale, which raises £13 billion for the British taxpayer, is the largest ever sale of financial assets by a British government, and we are now clear that taxpayers will get back more money from Northern Rock than they were forced to put in during the financial crisis.

The highly competitive process, unprecedented scale, and the fact that these mortgages have been sold for almost £300 million more than their book value demonstrates the confidence investors have in the UK, which has only been made possible by the success of our long term plan.

– Chancellor of the Exchequer, George Osborne

The Treasury added there will be no changes to the terms and conditions of the mortgages sold and customers do not need to take any action.

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