Browsing Category
Cars
Car Finance Scandal Could Lead To Billions In Consumer Claims As FCA Issues Warning
Britain's car finance industry faces unprecedented turmoil following a landmark Court of Appeal ruling that could trigger massive compensation payouts to consumers. The Financial Conduct Authority's chief executive, Nikhil Rathi, has…
Car Finance Scandal Could Cost British Lenders £30 Billion Pounds in Compensation
British lenders might face a staggering £30 billion compensation bill due to the mounting car finance mis-selling scandal, according to leading credit ratings agency Moody's. The estimate represents the highest projection to date,…
Car Finance Industry Grinds to Halt as Court Ruling Sparks Crisis
Major car finance companies have suspended lending operations following a groundbreaking Appeal Court ruling, throwing Britain's automotive sector into disarray. The judgement, which found lenders liable for undisclosed commissions, has…
UK Banks Hold Emergency Talks With Treasury Over Car Finance Ruling Fallout
Leading financial institutions have engaged in urgent discussions with the UK Treasury amid growing concerns about potential upheaval in the consumer credit sector following a groundbreaking court ruling on car finance commissions.
The…
Jim Ratcliffe’s Ineos cancels launch of Fusilier Electric SUV
Ineos, owned by Sir Jim Ratcliffe, has delayed the release of its Fusilier electric vehicle. The company blames a lackluster consumer demand as well as uncertainty over government policies.
Ratcliffe announced its plans to manufacture…
Volkswagen to invest $5bn in Tesla electric car rival
Volkswagen announced plans to invest $5bn (£3.9bn), or up to 9% of its total revenue, in Rivian's US electric carmaker. This comes as manufacturers are rethinking their strategies due to uncertain demand.
The German automaker said that…
China accepts tariff talks on electric cars as EU tries to avoid a trade war
The EU and Beijing have concluded last-ditch negotiations over plans to increase tariffs on Chinese electric car imports amid concerns of an upcoming tit-fortat trade conflict.
The European Commission and China's trade ministers agreed…
Tesla will raise prices following EU crackdown on Chinese Electric Cars
Tesla warned that it would be forced to increase prices in European Union nations after Brussels announced new trade tariffs for electric cars imported by China.
The US company warned customers in Germany and France to order soon, or…
Hornby now offers Corgi cars in its toy collection
Hornby's annual revenue is expected to increase by 2 million pounds sterling after it adds Corgi racing cars to its model train collection and Scalextric racing car.
The Frasers Group, owned by Mike Ashley, increased its investment in…