Ford’s FCE Bank has set aside £155m for car finance mis-selling claims as the FCA prepares to unveil rules for a multibillion-pound compensation scheme.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
UK retail sales fall as shoppers tighten spending ahead of energy shock
UK retail sales fell 0.4% in February as shoppers cut spending, with economists warning the Iran war could further weaken demand and confidence.
UK firms enter new energy crisis weaker than in 2022, distress index warns
UK businesses are more financially vulnerable than before the Ukraine war, with rising energy costs and interest rates increasing corporate distress.
Dyson hit by £440m sales drop as Trump tariffs bite
Dyson reports £440m sales decline due to US tariffs and weak demand, but profits rise after cost cuts and continued investment in innovation.
Petrol set to top £1.50 a litre as Iran war drives fuel price surge
UK petrol prices are set to exceed £1.50 per litre as oil costs surge after the Iran conflict, with diesel rising even faster, warns the RAC.
US warns Starmer’s EU reset could strain UK trade ties
The US has warned Keir Starmer’s plans to align with EU rules could disrupt UK-US trade, raising concerns over future economic ties.
Next to invest £300m in UK logistics as new warehouse set to deliver £2.5bn boost
Next will invest £300m in UK warehouses, including a new Yorkshire site, as it targets £2.5bn economic boost and accelerates online growth.
UK set for biggest growth hit among major economies from Iran war, OECD warns
The OECD warns the UK will be hardest hit among major economies by the Iran war, cutting growth forecasts to 0.7% and raising inflation expectations.
JLR halts Solihull production over supplier parts issue
Jaguar Land Rover has paused production at its Solihull plant for two weeks due to a supplier parts issue affecting Range Rover models.
North Sea jobs safeguarded as HMRC drops challenge to Petrofac rescue deal
Over 2,000 North Sea jobs are set to be saved after HMRC drops its challenge to Petrofac’s restructuring deal, clearing the way for a sale to CB&I.
UK faces looming shortage of EV mechanics as transition gathers pace
Britain faces a shortage of 44,000 EV-trained mechanics as electric vehicle adoption rises, with independent garages slow to invest in training.
Co-op chief executive steps down amid culture concerns and cyberattack fallout
Co-op CEO Shirine Khoury-Haq is stepping down after reporting losses, a major cyberattack and allegations of a toxic workplace culture.
Barclays pulls back from lending after private credit losses
Barclays is scaling back lending to smaller borrowers after losses linked to private credit firm collapses, shifting focus to larger corporate clients.
Vodafone faces £85m High Court battle as franchise row sparks political scrutiny
Vodafone faces a landmark £85m High Court claim from franchisees alleging mistreatment, with MPs calling for tighter regulation of the UK franchise sector.
UK inflation holds at 3% ahead of expected post-war price surge
UK inflation remained at 3% in February, but rising oil prices from the Iran conflict are expected to push inflation higher later this year.
