1.48 billion pounds is today's daily digit in Europe - the pre-tax profits for Lloyds Banking Group in the first quarter. It's almost Â£500 million more than a year ago. The state-backed bank has been working to cut costs to shrink the business. Costs fell 6 percent in the first quarter from a year ago. So does this signal a turnaround for Europe's banks? William Hobbs from Barclays says there's still plenty of work to do.moreless
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