Audi RS E-Tron GT Performance review: With great power… November 14, 2024 My knuckles wrap white around the roll cage as the car slews violently sideways then slingshots onto the main straight. A mechanical war cry bursts forth as the driver rams the graunchy manual lever into third gear, then fourth, then back to third, each shift punctuated by the giddy chirrup of a dump valve. I’m [...]
Motor finance: The legal battles are only just beginning November 13, 2024 The legal troubles for banks and lenders may widen says a lawyer, following the success of the landmark Court of Appeal decision last month.
UK banks could limit buybacks as car loan scandal grows November 13, 2024 Some UK banks could be forced to reduce upcoming investor payouts, analysts have warned, as the Financial Conduct Authority mulls whether to expand a probe into now-banned car loan deals.
Motor finance: City watchdog considers deadline extension November 13, 2024 The Financial Conduct Authority (FCA) said firms are likely to receive a "high volume" of complaints following the Court of Appeal's judgement last month.
Motor finance: Court blocks Close Brothers pathway to Supreme Court November 12, 2024 After a landmark ruling last month in the motor finance test case, a court has hit Close Brother with yet another blow
FCA could spend £20m on car loan probe after shock court ruling November 7, 2024 The Financial Conduct Authority (FCA) could splash £20m on the first stage of its review into car loan commissions, City AM can reveal, reflecting the scale of a scandal that may see lenders forced to pay billions of pounds in compensation.
Close Brothers warned of £640m hit if car loan scandal spreads November 5, 2024 Close Brothers could take a hit to its profits worth almost double its stock market value if a brewing car loan scandal spreads to other areas of consumer finance, analysts have warned.
Natwest shares hit 13-year high after broker upgrade November 4, 2024 Natwest shares jumped to a 13-year high on Monday after a leading broker upgraded the bank’s price target. Shares in the London-listed bank, formerly known as Royal Bank of Scotland Group (RBS), jumped over three per cent on Monday to just under 390p per share. The discernible jump came after analysts at Peel Hunt upgraded [...]
Secure Trust Bank slashes profit expectations amid motor finance ruling November 1, 2024 Secure Trust Bank has slashed profit expectations for this year due to the performance of its motor finance business. In a trading update today, the London-listed lender said that following the Financial Conduct Authority’s motor finance decision, it restored vehicle finance loan collections activity to normal levels. Meanwhile, early arrears in vehicle finance are at [...]
Motor finance industry in crisis mode after landmark court ruling November 1, 2024 Motor finance providers are scrambling to avoid a full-blown market meltdown after a landmark London court ruling on "secret" car loan commissions sparked chaos across the sector.