Thames Water: Bonuses from £3bn emergency loan ‘withdrawn’ May 20, 2025 Hefty bonuses to Thames Water bosses that were carved out of a £3bn emergency loan have been “withdrawn” following backlash, the government has announced. Environment secretary Steve Reed said on Tuesday he was “very happy indeed that Thames have now dropped those proposals. It was the wrong thing to do. They have now withdrawn their [...]
Lloyds Bank boss: No evidence of harm in motor finance scandal May 20, 2025 Lloyds Banking Group’s chief executive faced a grilling from the Treasury Select Committee on Tuesday over the lender’s historical exposure to the motor finance market. Charlie Nunn, the bank’s boss, said there was “no evidence of harm” from the firm’s operations in the car financing market. The scandal in the sector headed to the Supreme [...]
Santander to spin off motor finance division from UK business April 22, 2025 Santander is poised to spin off its litigation-hit motor finance division as part of a major overhaul of its UK operations. The Spanish lender has sought permission from regulators to separate its car loan business, which is facing a near-£300m payout as part of the ongoing motor finance scandal, from the rest of its British [...]
Has the English court unlocked diplomatic immunity problems for the UK? April 17, 2025 Diplomatic immunity is under the spotlight after several embassies found themselves before UK courts and saw their immunity stripped away
Philip Green loses legal challenge over parliamentary privilege for court injunctions April 8, 2025 A legal challenge lodged by Sir Philip Green to curb parliamentary privilege to name individuals shielded by court injunctions has been rejected by the European Court of Human Rights (ECHR) Eight ECHR justices ruled on Tuesday that Article 8 – “Right to respect for private and family life” – had not been breached. The Strasbourg [...]
Ryanair at court seeking to appeal employment rights case April 1, 2025 Budget airline Ryanair is in court today seeking to overturn a decision on the worker status of a Ryanair pilot
Eat marshmallows with your hands? HMRC wants you to pay more tax March 24, 2025 A case over the VAT liability of giant marshmallows "has taken a new bizarre twist" following questions on how people eat the chewy sweets
Analysts put Close Brothers shares ‘under review’ as stock plummets March 18, 2025 Peel Hunt analysts placed Close Brothers shares ‘under review’ after the banking group suffered a £104m loss in the first half of its 2025 financial year. The lender said losses were driven by the £165m reserved for potential motor finance payouts, along with costs of complaint handling and legal expenses. Close Brothers’ stock sank as [...]
In the dumps: Man with £769m of bitcoin in landfill has appeal rejected March 14, 2025 James Howells, the man who claims to have lost £769m worth of bitcoin in a Welsh landfill, has had his appeal thrown out by the second-highest court in the land – and has now resolved to take his case to the European Court of Human Rights. Howells, who lost 8,000 coins of the cryptocurrency after [...]
Motor finance complaints hit record levels March 4, 2025 The UK financial ombudsman has received a record number of complaints about motor finance loans in the most recent quarter, according to new data. On Tuesday, the Financial Ombudsman Service (FOS) said that complaints about car loan cases had surpassed credit cards as the subject with the most unresolved complaints in the financial sector. Some [...]