Regulators target motor finance CMCs amid redress costs concern October 6, 2025 The Financial Conduct Authority is teaming up with a fleet of regulators to crackdown on misleading claims firms in the motor finance saga – even as the sector’s displeasure on the redress scheme rumbles on. The City watchdog will join the Solicitors Regulation Authority (SRA), Information Commissioner’s Office and the Advertising Standards Authority to tackle [...]
Close Brothers looks to ‘accelerate’ after ‘messy’ year October 1, 2025 Close Brothers is hoping to switch gears and “accelerate” after the motor finance scandal had the bank stuck in a rut. The specialist lender’s share price has swerved between a low of 185.00 and peak of 555.00 over the last 12 months. The car misselling saga has been the driving force of stock woes, sending [...]
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.