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EXPLAINED: 11 | Rare Historical Photos

Drax’s shares plunge as City watchdog investigates sourcing of wood pellets

FCA inquiry into biomass power station relates to disclosures and transparency over two-year period

The Guardian - UK

Drax under investigation by City watchdog over biomass sourcing

The probe comes after claims by Drax’s former head of public affairs that the company had misled over its sourcing of wood for biomass pellets.

Evening Standard

‘Pig butchering’ explained as thousands targeted in scam

IN FULL

The Independent UK

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Thousands targeted by fraudsters impersonating financial regulator

The Financial Conduct Authority (FCA) said it received 4,465 reports of scammers pretending to be the watchdog in the first half of the year.

Evening Standard

Urgent scam warning issued as fraudsters pose as financial regulator

Many vulnerable people were targeted in the scam

The Independent UK

Major UK Loan Firm Enters Liquidation And Now All Their Customers' Debts Have Been Wiped Out - Are You One Of Them?

FCA urges caution against scams amid cost of living crisis. Contact administrators to confirm debt status and explore safer credit options

International Business Times UK

Now fraudsters are trying to mis-sell you a car loan payout

Motorists, who could be owed up to £950 if they were mis-sold finance, are being asked by ‘the lender’ for their details. Don’t fall for it

The Guardian - UK

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Cashback concerns raised when people are considering transferring their pension

Some people may not be considering the full financial implications of their decision, the Financial Conduct Authority said.

Evening Standard

The car finance scandal proves that the financial sector still has trust issues that need to be sorted

The car finance scandal could have ended up costing UK banks and lenders up to £44 billion in compensation payments. But after the latest court ruling, the expected bill has been reduced to less than £18 billion.

The Conversation

Trump wants Medicare to pay for your Ozempic treatment. Taxpayers may foot the bill for billions in fraud

As lawyers who represent whistleblowers under the False Claims Act, we expect a new era of fraud cases tied to GLP-1 drugs, including Wegovy, Ozempic, and Mounjaro.

Fortune

Drivers warned over car finance scammers after court ruling

Drivers could be owed up to £950, the UK’s financial watchdog has said

The Independent UK

Fake motor finance compensation offers being made by scammers, FCA warns

The Financial Conduct Authority is reminding people that it does not currently have a car finance compensation scheme in place.

Evening Standard

Martin Lewis gives major update on car finance scandal with £950 payouts owed

Those who believe they could be affected have now been told what steps to take next

The Independent UK

Neil Woodford and his investment firm fined almost £46m over fund failings

FCA also bans former star stock picker from holding senior manager roles and managing funds for retail investors

The Guardian - UK

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Evening Standard

Former fund manager Neil Woodford to be banned and fined almost £46m

The FCA said Mr Woodford and his fund business ‘made unreasonable and inappropriate investment decisions’ between July 2018 and June 2019

The Guardian - UK

Will I receive a car loan scheme payout and how much might I get?

Regulator expects to make payments of up to £950 to victims of discretionary commission scandal

Evening Standard

Car loans: Why could drivers still get compensation after court ruling?

The UK’s financial regulator is to consult on consultation payments after a landmark court ruling on motor finance agreements.

Evening Standard

Motor finance: Concerns raised that some firms’ records may be ‘patchy at best’

The Finance and Leasing Association said it will be ‘interesting to see’ how dated information will be addressed in the FCA’s consultation.

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The Independent UK

Major lenders see share prices surge after car finance mis-selling ruling

A court ruling means payouts will be at the lower end of initial estimates – though are still worth billions

The Independent UK

Shares in lenders soar after motor finance court ruling

Lloyds Banking Group and Close Brothers saw big share gains after the industry won a reprieve in the motor finance case before the UK’s highest court.

The Guardian - UK

Car finance scandal: shares in UK lenders jump after supreme court ruling

Lloyds and Close Brothers surge after Friday’s court decision slashed the expected bill for compensation on mis-sold loans

The Guardian - UK

EU-US trade deal hits investor confidence; Tesla awards Elon Musk almost $30bn of shares – as it happened

Rolling coverage of the latest economic and financial news, as shares in Lloyds and Close Brothers jump

International Business Times

UK Lenders Face $12 Bn Plus Compensation Bill Despite Court Ruling: Watchdog

British finance firms behind high interest car loans could have to pay out more than nine billion pounds ($12 billion) in compensation despite the country's highest court ruling that most of the controversial deals were lawful, a financial watchdog said Sunday.

Evening Standard

Motor finance victims urged to complain as compensation could hit £18bn

It is thought millions have people have been affected.

The Independent UK

Martin Lewis explains how to claim car finance mis-selling compensation as FCA predicts payouts worth up to £950

Martin Lewis says there is a ’very high likelihood’ that many people will receive hundreds of pounds in compensation

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