Tag: moneymarkets
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.
Carwow races towards £100m sales milestone despite sluggish EV uptake
The digital marketplace connects buyers and sellers of new and used cars via a network of dealerships, and has a popular Youtube channel.
Car crash for Musk as Tesla sales plunge despite demand for electric cars revving up
The company, led by Elon Musk (pictured), sold just 8,220 vehicles in the European Union in August. Chinese rival BYD's sales trebled to more than 9,000.
Porsche shares crash almost 10% on weak demand for its electric vehicles
Porsche, which at one stage counted Emma Raducanu (pictured) as a brand ambassador, is delaying the rollout of its battery-powered vehicles.
Companies must be better prepared for cyber attacks after Jaguar hack exposes weaknesses
JLR made no cars this month at any of its plants in Liverpool, Solihull and Wolverhampton, with its production cut by 24,000.
Trade taxes halve profits at Jaguar Land Rover
Profits fell 49 per cent to £351m in the second quarter of the year. Sales fell 9 per cent to £6.6billion.
Elon Musk handed £22bn of Tesla shares to stop him quitting the electric car maker
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.
Bank shares surge after Supreme Court slashes car loan compensation payouts
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.
