Category: News

The FCA has reduced the car finance compensation bill to £7.5bn, while increasing average payouts, as lenders and consumers weigh potential legal challenges.

Sir Jim Ratcliffe’s Ineos reports $593m loss and skips dividend as energy volatility and Middle East tensions drive up costs and risks.

Ford’s FCE Bank has set aside £155m for car finance mis-selling claims as the FCA prepares to unveil rules for a multibillion-pound compensation scheme.

UK retail sales fell 0.4% in February as shoppers cut spending, with economists warning the Iran war could further weaken demand and confidence.

UK businesses are more financially vulnerable than before the Ukraine war, with rising energy costs and interest rates increasing corporate distress.

Dyson reports £440m sales decline due to US tariffs and weak demand, but profits rise after cost cuts and continued investment in innovation.

UK petrol prices are set to exceed £1.50 per litre as oil costs surge after the Iran conflict, with diesel rising even faster, warns the RAC.

The US has warned Keir Starmer’s plans to align with EU rules could disrupt UK-US trade, raising concerns over future economic ties.

Next will invest £300m in UK warehouses, including a new Yorkshire site, as it targets £2.5bn economic boost and accelerates online growth.

The OECD warns the UK will be hardest hit among major economies by the Iran war, cutting growth forecasts to 0.7% and raising inflation expectations.

Jaguar Land Rover has paused production at its Solihull plant for two weeks due to a supplier parts issue affecting Range Rover models.

Over 2,000 North Sea jobs are set to be saved after HMRC drops its challenge to Petrofac’s restructuring deal, clearing the way for a sale to CB&I.

Britain faces a shortage of 44,000 EV-trained mechanics as electric vehicle adoption rises, with independent garages slow to invest in training.

Co-op CEO Shirine Khoury-Haq is stepping down after reporting losses, a major cyberattack and allegations of a toxic workplace culture.

Barclays is scaling back lending to smaller borrowers after losses linked to private credit firm collapses, shifting focus to larger corporate clients.