Profits fell 49 per cent to £351m in the second quarter of the year. Sales fell 9 per cent to £6.6billion.

The firm said its board agreed to give its billionaire head (pictured) 96m shares as part of a pay deal, according to a recent filing.

The FCA estimated the scandal will cost between £9bn and £18bn after the Supreme Court ruled lenders would not be liable for most of the payouts.

Motor finance lenders breathed a 'small sigh of relief' after a landmark Supreme Court ruling left them facing a much smaller compensation bill than initially feared.

Secure Trust Bank plans to cease activity in the motor finance market to focus on more profitable business after the sector was rocked by a commissions scandal.

The computer vision technology firm said its Guardian Generation 3 driver monitoring system will be used in Mitsubishi's logistics, distribution and maintenance fleet.

Nearly 400 jobs are at risk at Lotus as the car maker becomes the latest household name to look at slashing its workforce.

UK motor insurers are set to just about break even this year before falling to a loss in 2026, according to industry forecasters.

UK motor claims inflation is set remain elevated over the next year after total payouts hit a record high in 2024, according to EY analysis.

EDF will pay 6.5p per share. That values Pod Point at £10.6m and sets the scene for Pod Point to join the exodus from the London stock market.

Britain's financial regulator has warned that any compensation paid out in the wake of motor finance commissions scandal can not be allowed to result in corporate bankruptcies.

The Japanese car maker is planning to cut 15% of its workforce as part of a major restructuring drive. It is unclear if the Sunderland factory (pictured) is impacted.

Consumers are angry at Tesla boss Elon Musk's role in Donald Trump's administration and have been boycotting the electric car firm.

The car industry was rocked when Trump announced a 25% charge on vehicle and part imports in a bid to ramp up domestic manufacturing.

Electric vehicle charging point maker Pod Point looks set to be sold to EDF after a sharp slowdown in demand hurt sales last year.