UNITED KINGDOM

FCA says motorists should start to receive payments in 2026 with most individual payouts likely to come in under £950Drivers could be handed a share of between £9bn and £18bn in compensation next year, after the City regulator said it would consult on a redress scheme for consumers affected by the car finance scandal.The Financial Conduct Authority (FCA) said on Sunday that it plans to launch the redress scheme in 2026, with consumers “starting to receive compensation next year”. Continue reading... Source link : https://www.theguardian.com/business/2025/aug/03/city-regulator-unveils-car-loan-compensation-scheme-worth-up-to-18bn Author : Kalyeena Makortoff Banking correspondent Publish date : 2025-08-03 14:29:00 Copyright for syndicated content

Common Wealth report calls discounted sales of council homes one of the ‘largest giveaways in UK history’Margaret Thatcher’s right-to-buy scheme has cost UK taxpayers almost £200bn, according to a report into the policy’s contribution to Britain’s housing crisis.In its report into the sale of millions of council homes to their tenants at steep discounts since 1980, the Common Wealth thinktank said the policy had fuelled vast shortages in social housing and turbocharged inequality. Continue reading... Source link : https://www.theguardian.com/society/2025/aug/03/right-to-buy-england-fuelled-housing-crisis-cost-taxpayers-common-weath-report Author : Richard Partington Senior economics correspondent Publish date : 2025-08-03 11:31:00 Copyright for syndicated content belongs to the linked Source.

Images of emaciated Rom Braslavski and Evyatar David fuel renewed calls to reach a truce and hostage release dealMahmoud Abbas, President of the Palestinian Authority, has condemned Ben-Gvir’s visit to al-Aqsa mosque, which he said “crossed all red lines.”The Waqf, the foundation that administers the complex, said Ben-Gvir was among another 1,250 people who visited the site, Associated Press reports. The foundation said the group prayed, shouted and danced at the mosque. Continue reading... Source link : https://www.theguardian.com/world/live/2025/aug/03/israel-gaza-war-live-netanyahu-hostage-video-famine-latest-updates-news Author : Matthew Pearce Publish date : 2025-08-03 09:14:00 Copyright for syndicated content belongs to the linked Source.

City predicts quarter-point drop to 4% when MPC meets on ThursdayBank of England policymakers are widely expected to cut interest rates this week to prevent the economy sliding backwards amid rising unemployment and the hit to global trade from Donald Trump’s fresh round of import tariffs.City traders are betting that the Bank’s nine-member monetary policy committee (MPC) will reduce the headline rate on Thursday by 0.25 percentage points to 4%, marking the fifth cut since last August and taking interest rates back to where they were in March 2023. Continue reading... Source link : https://www.theguardian.com/business/2025/aug/03/bank-of-england-interest-rates-cut-forecast-rising-unemployment-and-trump-tariffs Author : Phillip Inman Publish