UK's FCA faces legal challenge over car loan redress scheme - report
22nd Apr 2026 08:25
(Sharecast News) - A consumer group is reportedly preparing to take Britain's financial regulator to court in an attempt to overhaul the £9.1bn compensation scheme agreed for victims of the car loan scandal, claiming they have been shortchanged.
Read moreShore Capital downgrades Close Brothers to 'hold', says it's time to take profits
8th Apr 2026 13:07
(Sharecast News) - Shore Capital downgraded Close Brothers on Wednesday to 'hold' from 'buy' as it recommended that investors take profits.
Read moreFCA says millions of drivers to get average £830 car finance payout
30th Mar 2026 07:05
(Sharecast News) - The Financial Conduct Authority confirmed on Monday that millions of drivers who were mis-sold car finance will be entitled to an average of £830 in compensation.
Read moreShore Capital upgrades Close Brothers to 'buy' after Viceroy-fuelled selloff
20th Mar 2026 10:50
(Sharecast News) - Shore Capital upgraded Close Brothers on Friday to 'buy' from 'hold' as it said the selloff on the back of a research note by Viceroy was overdone.
Read moreClose Brothers to cut around 600 jobs; H1 losses narrow
17th Mar 2026 08:05
(Sharecast News) - Close Brothers reported a narrowing of its first-half losses on Tuesday and said it was planning to cut around 600 jobs by the end of financial 2027 as it accelerates its cost-cutting programme.
Read moreClose Brothers tumbles as short-seller Viceroy warns of potential 'wipeout'
16th Mar 2026 17:48
(Sharecast News) - Close Brothers tumbled on Monday after short-seller Viceroy Research said the company has "systematically misrepresented" its exposure to the car finance scandal.
Read moreRBC Capital upgrades Close Brothers to 'outperform', shares spark
16th Jan 2026 09:29
(Sharecast News) - Close Brothers sparked on Friday after RBC Capital Markets upgraded the stock to 'outperform' from 'sector perform' and hiked the price target to 625p from 475p.
Read moreClose Brothers delivers stable Q1 performance, increases motor finance provision
20th Nov 2025 08:05
(Sharecast News) - Merchant banking group Close Brothers said on Thursday that it had increased its provision for a proposed motor finance redress scheme following the FCA's October consultation, while also reporting a solid first-quarter performance from its banking division, supported by a strong net interest margin, stable credit quality, and ongoing cost discipline.
Read moreChancellor set to rule out tax hikes on banks - report
6th Nov 2025 09:44
(Sharecast News) - UK bank shares rallied on Thursday, on reports chancellor Rachel Reeves was minded to rule out increasing taxes on the sector.
Read moreClose Brothers lifts motor finance redress provision to £300m
14th Oct 2025 08:10
(Sharecast News) - https://www.sharecast.com/news/news-and-announcements/lloyds-hikes-motor-finance-redress-costs-by-pound800m--21030766.htmlClose Brothers said on Tuesday that it was increasing its motor finance redress provision to £300m following the Financial Conduct Authority's ruling on the scandal last week.
Read moreClose Brothers sees 'material increase' to existing motor finance provisions
9th Oct 2025 12:30
(Sharecast News) - Close Brothers shares tanked on Thursday as it warned that the Financial Conduct Authority's motor finance redress scheme would result in a "material increase" to its existing provision of £165m.
Read moreLosses mount at Close Brothers, shares fall
30th Sep 2025 09:08
(Sharecast News) - Shares in Close Brothers fell sharply in morning trading on Tuesday, after the specialist banking firm slumped into the red.
Read moreClose Brothers delays full-year results, shares slide
19th Sep 2025 12:33
(Sharecast News) - Close Brothers shares tumbled on Friday after the merchant banking group announced that it was delaying the publication of its preliminary results for the year ended 31 July.
Read moreLondon close: Stocks fall on bank tax concerns, US inflation
29th Aug 2025 17:42
(Sharecast News) - London stocks ended lower on Friday as banking shares slumped after a think tank suggested a potential windfall tax on the sector, while investors assessed the latest US inflation data.
Read moreLondon close: Stocks mixed as world watches Ukraine talks
18th Aug 2025 17:50
(Sharecast News) - London equities ended Monday in mixed territory amid subdued trading, as investors monitored geopolitical developments and looked ahead to a key gathering of central bankers later in the week.
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