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LONDON — The British government moved Tuesday to break up the country’s two biggest retail banks, imposing a major shake-up on the financial sector as it exacts payback for last year’s massive state bailout at the height of the financial crisis.
The government also injected billions of pounds more of taxpayer funds into Royal Bank of Scotland PLC and Lloyds Group PLC, underscoring worries that the banking sector is not out of trouble yet.
