Tribunal hears HBOS/Lloyds challenge

The Merger Action Group (MAG) has taken its case to the Competition Appeal Tribunal in hopes of blocking the deal. MAG says it has the backing of current and former employees, account holders and senior Scottish businesspeople. The MAG believes the deal will be bad for Scotland's economy and will create a huge banking group that could stifle competition across the UK. A ruling on the case is due on Tuesday, and is likely to be the last word on the proposed deal. The MAG's spokesman, Malcolm Fraser, says: "As a group, we are extremely concerned that due legal process has been ignored...