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      City watchdog suspends parts of £9bn motor finance scheme after industry backlash

      The FCA has appointed Liam Coleman interim chair of the FOS.

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UK Government

  • The conduct that sent Dominic Raab to the backbenches – key points

    April 22, 2023

    Press Association takes a look at the key allegations concerning Dominic Raab and bullying – and which ones were upheld.

  • Shrinking workforce limiting UK economic growth, MPs warn

    April 21, 2023

    The UK’s shrinking and ageing population is limiting economic growth, with “outdated and static” working practices, MPs have warned. An “exodus” of over-50s from the labour market has worsened shortages, a cross-party House of Commons Business, Energy and Industrial Strategy (BEIS) committee report said. Chairman Darren Jones said: “Our shrinking and ageing UK labour market, and [...]

  • FCA will ‘keep its eyes’ on banks’ Q1 results for evidence of savings rate profiteering

    April 20, 2023

    Savers are facing a rising “loyalty penalty” from high street banks, the Financial Conduct Authority (FCA) has warned. Customers banking with the UK’s big name lenders are likely to earn less competitive interest rates on their savings over time, while new savers are given more attractive offers, the City watchdog told MPs today. “Harm” from [...]

  • ‘Genie won’t go back in the bottle’ on artificial intelligence, says security minister

    April 20, 2023

    Security minister Tom Tugendhat has said while he understands fears about artificial intelligence (AI), it would be misguided to pause further developments on the new technology. He also suggested that suspending the field could squander UK cybersecurity efforts. “Given the stakes, we can all understand the calls to stop AI development altogether,” he said, speaking [...]

  • UK military may break NATO pledges, MPs warn

    April 20, 2023

    The UK’s plan for arming its military is a “broken system” and government ministers may struggle to meet crucial commitments to NATO, a prominent group of MPs has warned. A critical report into the Ministry of Defence’s (MoD) plans to buy military equipment found a “cycle of costly delay and failure” and an ignoring of [...]

  • SNP treasurer Colin Beattie steps down from role after arrest

    April 19, 2023

    SNP MSP Colin Beattie will step down as the party’s treasurer after he was arrested in connection with a police investigation into the party’s finances, he has said. In a statement released through the party, Beattie also confirmed he will be “stepping back” from his role on Holyrood’s Public Audit Committee until the probe has [...]

  • Minister Paul Scully ‘considering’ running for London mayor in 2024

    April 18, 2023

    Minister for London Paul Scully said today he is “considering” running against Sadiq Khan to be the next London mayor in 2024. Speaking at a Centre for London event today, Scully said: “Let me tackle this head on, am I considering running for London mayor in 2024? Yes, I am considering it. I haven’t made [...]

  • SNP treasurer Colin Beattie arrested in party finance probe

    April 18, 2023

    The Scottish National Party’s (SNP) treasurer Colin Beattie has been arrested in a police probe into the party’s finances, according to reports. Beattie, 71, is under arrest in connection with the ongoing investigation into the funding and finances of the party, Police Scotland has said, the PA news agency has reported, In a statement, the [...]

  • Regulators must be kept in check, Tory MPs warn

    April 18, 2023

    Tory MPs have warned powerful regulators operating “largely unchecked” are holding back the UK’s economy and “directly hindering” the country’s growth prospects. The backbench Regulatory Reform Group (RRG) has called for increased parliamentary oversight of the UK’s regulators – from water and energy watchdogs Ofwat and Ofgem to banking supervisor the Financial Conduct Authority (FCA). [...]

  • US says G7 will resist Chinese ‘coercion’ as Taiwan tensions heighten, per reports

    April 18, 2023

    A US official has said the G7 nations will resist any “coercion” from China during a key summit in Japan, as tensions heighten over Taiwan, according to reports. Foreign ministers from the Group of Seven countries – the UK, the US, Germany, France, Japan, Canada and Italy – are meeting in the central Japanese city [...]

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