‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Close Brothers and First Rand look to park motor finance row Banking After countless speed bumps, sharp handbreak turns and a fair few false starts, the two banks that took the motor finance scandal to the top finally look to put it in the rearview mirror. Close Brothers and Aldermore owner First Rand have sought to wrap up the over two-year long saga after the financial watchdog [...]
Lloyds shares slump amid questions over motor finance legal battle Banking Lloyds shares slumped this morning even as the banking giant declared it would not have to top up its provisions following the confirmation of a motor finance redress scheme. The group – which owns the UK’s largest car finance lender Black Horse – said it had “undertaken an assessment of the implications and impact” of [...]
Motor finance compensation scheme set to fuel even more legal action Legal The City watchdog has revealed its long-awaited motor finance redress scheme, but despite the bill for lenders coming in lower than predicted the scandal is not going away any time soon, as further legal action is expected. After a 2024 legal case ruled that car sales firms couldn’t lawfully receive commissions from finance firms unless they had [...]
FCA slashes banks’ motor finance payouts as compensation scheme finalised March 30, 2026 City banks are set to face a more than £9bn motor finance bill after the UK’s financial watchdog laid out plans for its long-awaited motor finance redress scheme in a major U-turn after months of backlash. The Financial Conduct Authority (FCA) revealed the details of its industry-wide redress scheme for the car mis-selling saga on [...]
KKR-backed fintech takes £13m hit from motor finance scandal March 10, 2026 A UK fintech backed by investment giant KKR has posted a hefty loss after being forced to set aside cash for the brewing motor finance scandal. Oodle Finanical Services recorded a pre-tax loss of £38m for the financial year ending 30 June 2025, after the firm was forced to set aside a whopping £12.8m in [...]
‘I can do terrible things’: Trump launches fresh tariffs tirade February 23, 2026 The government has said that no response to Donald Trump’s revived trade onslaught is off the table, after the President warned he could still do “terrible things” to the US’s trading partners despite his ‘liberation day’ tariffs being deemed illegal by the Supreme Court. A spokesman for the Prime Minister told reporters that while “no [...]
Businesses continue to face legal uncertainty despite court ruling on tariffs February 23, 2026 When the US Supreme Court handed down a landmark judgment against President Donald Trump’s tariffs last week the ruling sent shockwaves across the world, raising questions about what is next for businesses. On Friday, the Supreme Court, which has a 6-3 Conservative majority, struck down the tariffs, which could pose major financial consequences for the [...]
Trump’s tariffs are unconstitutional and his figures are pure fantasy February 23, 2026 Donald Trump claims to have secured $18 trillion in ‘investment’ thanks to tariffs, but much of this is just purchasing, R&D or hiring, says Rainer Zitelmann Tariffs are the central pillar of Donald Trump’s economic policy. Yet it was precisely in this area that he violated the US Constitution. This was not determined by leftwing [...]
Trump announces new blanket tariff after Supreme Court ruling February 21, 2026 US President Donald Trump has announced a new global tariff after the US Supreme Court ruled that his previously imposed duties were illegal. Trump imposed a 10 per cent global tariff shortly after the court’s ruling, a decision the president called “terrible”. The import duty will apply to all countries and be effective “almost immediately”, [...]
Diageo, Burberry rally after Trump tariff ruling February 20, 2026 Shares in two of the FTSE 100’s biggest retailers rallied on Friday afternoon after it was revealed President Trump’s sweeping global tariff regime had been struck down by the top US court. Burberry shares ended the day’s trading session up 3.2 per cent to 1,212p, while Diageo jumped 3.9 per cent to 1,851p after the [...]