Formula 1 commercial arm sees profits dip but still makes £250m September 23, 2025 Formula 1’s commercial arm saw profits fall by five per cent last year, but still managed to be over £250m to the good. Formula One World Championship Limited, which holds the exclusive commercial rights to the globetrotting motor racing series, posted a profit of £251.7m for the year ending 31 December 2024, down £14.5m from [...]
Motor finance: BMW sets aside over £200m for car mis-selling September 22, 2025 BMW’s UK car finance arm has set aside over £200m to cover a potential hit from the motor finance scandal. The firm joins a batch of British lenders and motor companies, which have been forced to prepare provisions with millions of drivers eligible for compensation. In July, the Supreme Court handed City banks a lukewarm [...]
Investec expectations hit by challenging market backdrop September 19, 2025 Investec has said it remains on track despite battling a “challenging macroeconomic backdrop and market volatility” during the first half of its financial year. The FTSE 250 bank said it expects its adjusted operating profit before tax for the six months to be between £451m and £481.8m, in line with £474.7m it recorded during the [...]
FCA hires influencers to raise awareness of motor finance compensation scheme September 12, 2025 In its attempt to stop people using claims management companies or law firms to access the motor finance compensation scheme, the City watchdog has kicked off a £1m media campaign. The Financial Conduct Authority (FCA) is launching a £1m campaign to inform people that they don’t need to use a CMC or law firm to [...]
Carlyle announce deal with Formula 1 team Red Bull September 9, 2025 Global investment firm Carlyle has announced a multi-year strategic partnership with Formula 1 team Red Bull in a first-of-its-kind deal. The Nasdaq Carlyle Group, with a market cap of $23bn, will use its partnership with the Formula 1 team title sponsored by Oracle to “open new avenues” for engagement, global connectivity and technology. And their [...]
FCA: ‘Large number of consumers’ wronged in motor finance deals September 9, 2025 The UK’s financial watchdog is gearing up for an industry-wide redress scheme on the historic motor finance scandal where huge swathes of customers could be eligible for compensation. Nikhil Rathi, chief executive of the Financial Conduct Authority, said there was “evidence that there have been unfair relationships between lenders and their consumers” and that a [...]
Lloyds to hand shareholders over £17bn by 2027, analysts say August 26, 2025 Lloyds Banking Group shareholders are set for a bumper payout with analysts projecting the lender will return over £17bn to investors by 2027. The FTSE 100 giant was listed as Jefferies analysts “preferred” banking stock following a strong year-to-date performance. Shares in Lloyds have jumped over 50 per cent since January. The bank received a [...]
Law firms slammed by regulator over risky client practices on high-volume claims August 22, 2025 The legal regulator has criticised law firms that handle high-volume consumer claims for poor practices that could harm the public, warning that urgent improvements are needed.
Close Brothers shares downgraded despite motor finance win August 18, 2025 Analysts have slapped a downgrade on Close Brothers stock despite the bank’s motor finance win last month at the Supreme Court. The FTSE 250-listed bank’s stock rating was lowered to ‘Sector Perform’, down from previous ‘Outperform’ expectations. Close Brothers shares were down over four per cent in early trading to 494.80. It comes after the [...]
Banks ombudsman fights for relevance amid Treasury crackdown August 18, 2025 The Financial Ombudsman Service is battling against a litany of obstacles as the government looks to “fundamentally” change its regulatory makeup. The organisation was rocked earlier this year by a leadership crisis following the abrupt departure of chief executive Abby Thomas in February. A Treasury Committee report, published in July, revealed Thomas had been dismissed [...]