Virgin Money UK leaps on hopes worst of insurance scandal over
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(Reuters) - Shares in Virgin Money UK leapt as much as 24% on Thursday after the British bank said it believed the worst of an industry-wide insurance scandal was behind it.That helped to overshadow a drop in annual profit and the company's decision to suspend its dividend payout. The owner of Clydesdale and Yorkshire Bank said it had set aside 385 million pounds ($494 million) in the last quarter to cover costs related the mis-selling of payment protection insurance (PPI) - a scandal that has..