Weekend catchup — this week’s personal finance headlines – Money Perception

Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.

Shopping and filmmaking prop up UK growth The UK economy remained lacklustre in the second quarter of the year, growing only 0.3 per cent, and largely because of shopping, filmmaking and business services, writes Gavin Jackson. According to the preliminary estimate of second-quarter GDP published on Wednesday, the construction sector shrank 0.9 per cent while production, which includes manufacturing and utilities such as water and electricity, shrank 0.4 per cent. The largest contribution to services sector growth came from retailers. Film production made the second-biggest contribution. This continues a trend of the industry supporting UK growth since the Brexit vote. Beauty and the Beast, Wonder Woman and Pirates of the Caribbean 5 were all partially made in Britain and were in cinemas during the second quarter. Read more on FT.com © Bloomberg House prices drive London exodus as buyers seek better value The number of Londoners leaving the capital for elsewhere in the UK has reached its highest level in at least five years as steep housing costs push more people in every age group away from the city, writes Judith Evans. Net departures to places outside London totalled 93,000, up more than 80 per cent from five years earlier, in the year to mid-2016. This was led by people in their 30s, whose departures reached a post-crisis high, according to analysis by property agents Savills. The city’s population growth has continued, with the total figure reaching 8.8m in mid-2016, but this was driven by arrivals from overseas and by births. Read more on FT.com Lloyds earmarked more for PPI as the number of claims has increased over the past few months © Reuters Lloyds Bank hit by further £1.1bn provision on PPI claims Lloyds Banking Group has revealed it has been forced to set aside a further £1.1bn for mis-selling payment protection insurance because of a rise in compensation claims, overshadowing a modest increase in first-half profits, writes Emma Dunkley. The bank, which was returned to private ownership in May, reported a 4 per cent rise in pre-tax profit of £2.5bn in the six months to the end of June, undershooting analyst estimates of £2.9bn. Lloyds earmarked more for PPI as the number of claims has increased over the past few months ahead of the financial regulator’s compensation deadline in August 2019. The bank set aside £350m for

[Source”timesofindia”]