Tag: moneymarkets
Ineos to axe hundreds of jobs as Trump tariffs send car sales veering of course
Ineos Automotive, which employs 1,700 people across the world, has been grappling with a big debt pile as well as Donald Trump's tariffs on imports into the US.
JLR posts heavy losses as production returns to normal after cyber hack
Jaguar Land Rover (JLR) revealed that its annual profits are set to be wiped out after the hack in August halted production for over a month.
Elon Musk on course to become the world's first TRILLIONAIRE: Tycoon sets out his vision for AI cars and robot army to perform surgery and 'eliminate poverty'
Elon Musk looks set to become the world's first trillionaire after clinching the largest pay deal in corporate history.
Cost of car finance scandal could cause 'significant' hit to UK economy, Santander boss warns
The group's chief executive Mike Regnier said current proposals 'could significantly impact jobs, growth and the broader UK economy'.
Lloyds accused of 'frustrating' motor finance payouts
Britain's biggest lender said it would fight plans for a £11 billion compensation scheme after the cost of the scandal caused its profits to plunge.
Lloyds mulls legal action over £11bn car finance scandal payout proposals
Lloyds saw earnings plunge 36 per cent over the last quarter after the lender ramped-up cash set aside for payouts related to the car finance commissions scandal.
'Corporate terrorists': Elon Musk hits out at opponents of his $1TRILLION pay package as profits slump
Elon Musk has branded opponents of his proposed $1trillion (£750billion) Tesla pay package 'corporate terrorists'.
More banks hit out at £11billion car finance compensation plan
Both Bank of Ireland and Secure Trust Bank were also forced to significantly ramp up provisions set aside for compensation.
Lloyds blasts FCA over car loans bill: Bank launches fightback after admitting scandal has left it facing £2bn hit
Lloyds, which is on the hook for almost £2bn over the motor finance scandal, accused the FCA of botching the design of the compensation scheme.
Lloyds hikes cash set aside for car finance scandal payouts to £2BN - as it fires a broadside at the FCA
Lloyds on Monday said it would raise its concerns with the Financial Conduct Authority as it ramped-up provisions for potential costs by £800million.
Banking shares rise after car loan scandal firms are handed a lower-than-feared compensation bill
FTSE 250 lender Close Brothers closed up 5.4% while Lloyds Banking Group gained 3.7% and Barclays rose 1.1%.
Lloyds admits £1.2bn set aside for car finance compensation may not be enough
Lloyds Banking Group has warned the £1.2billion it has set aside for potential compensation payouts related the motor finance commissions scandal may not be enough.
Vertu Motors warns of £5.5m profit hit amid Jaguar Land Rover turmoil
Luxury carmaker JLR paused production for five weeks following a crippling cyber-attack.
Aston Martin calls on Labour for support as British luxury carmaker faces heavy losses
Aston Martin is set for heavy losses this year after the luxury carmaker was forced to slash production volume forecasts in response to macroeconomic disruption.
Close Brothers takes another £33m hit related to motor finance scandal
Close Brothers suffered a fresh prang from its motor finance arm as it took a £33m hit related to 'historical deficiencies' in the way it dealt with car loan customers.
