The shadow chancellor, John McDonnell, has called for a government investigation into the use of high-cost bank loans after a report, to which Nick Stoop of Warwick Risk Management was a contributor, found local councils stand to waste up to £16bn on interest payments over the next 40...

Northamptonshire County Council has joined the growing number of local authorities exiting Lender Option Borrower Option (LOBO) loans, repaying a £20m loan during October. (Room 151)

Kent County Council, which took out £60 million worth of RBS lobo between 2008 and 2011, repaid the expensive loan early on October 1 after the bank indicated it wanted to remove the loans from its balance sheet. (Evening Standard)