6:50 am, January 30, 2026
Lloyds sees annual profits jump 12% in spite of motor finance hit
Lloyds Banking Group has notched up a higher-than-expected annual profit haul despite significant provisions for motor finance compensation.
The high street lending giant reported a 12% jump in pre-tax profits to £6.66bn for 2025, up from £5.97bn in 2024 – and upped its outlook for key performance measures in 2026.
This came in spite of £968m in so-called remediation costs, including another £800m charge set aside in the bank’s third quarter to compensate customers unfairly sold a car loan, bringing the group’s total bill so far for the saga to £1.95bn.
Santander to shut 44 bank branches with 291 jobs at risk
Santander is to shut 44 of its bank branches in a move putting 291 jobs at risk.
The Spain-based banking giant said the closures are part of an overhaul of its network linked to a shift from customers towards its digital services.
It said 96% of all transactions are now being completed in digital channels after a rapid increase in online banking customers.
Mini Countryman E receives government’s full £3,750 Electric Car Grant
Mini has announced that the Countryman E electric SUV is now eligible for the government’s full £3,750 Electric Car Grant.
The Electric Car Grant is an incentive that will slash up to £3,750 off the price of a new EV priced under £37,000.
Customers who order a Mini Countryman E can now benefit from the discount, with the range now starting at £29,255 for the entry-level ‘Classic’ model.
Mixed day for stocks
Stock prices in London closed mostly higher on Thursday, as investors digested the US Federal Reserve’s decision on Wednesday to stand pat on interest rates.
The FTSE 100 index closed up 17.33 points, 0.2%, at 10,171.76.
In European equities on Thursday, the CAC 40 in Paris closed up 0.1%, while the DAX 40 in Frankfurt ended down 2.1%.
Thursday on Car Dealer
Group 1 to axe more UK jobs and dealerships despite clocking up record revenues in 2025
Group 1 Automotive expects further UK job losses in 2026 as it continues restructuring, despite record 2025 revenues. The dealer group plans more workforce realignment and site closures, after already shutting multiple UK dealerships amid ongoing market challenges.
Networking break-out space added at Car Dealer Live for more inspirational conversations
Car Dealer Live has added a dedicated networking breakout area, giving suppliers space to meet dealers during breaks. Limited tables include event tickets and showcase opportunities. The March 19 Gaydon event features major industry speakers, research sessions, and extensive networking.
Tesla racks up £20,000 in fines, costs and court fees after refusing to dish the dirt on drivers
Tesla has been fined over £20,000 after failing to respond to police requests to identify drivers in at least 18 speeding cases. Courts across the UK convicted the firm after unanswered notices, despite claims nominations were posted by the company.
Toughest year for UK vehicle manufacturing in a generation as production slips 15%
UK vehicle production fell 15% in 2025 as cyber attacks, trade barriers and restructuring hit factories. Car output dropped 8%, vans 62%. Electrified production rose to 42%. The SMMT expects recovery in 2026 with new EV launches across UK plants.
Volvo shakes up UK top team as Swedish brand looks to continue ‘incredible journey’
Volvo has reshuffled its UK leadership, appointing Marc Piovesan as CFO from Porsche, expanding Suzanne Woolley’s remit to consumer experience, and naming Louise French strategic marketing director, as the brand builds on momentum from its agency sales model success nationwide.
China deal will cut tariffs, Sir Keir Starmer says
Tariffs on Scotch whisky exports to China are to be halved as a result of a deal struck by Sir Keir Starmer – with the Prime Minister insisting the agreement showed how his Government’s “hard-headed international engagement brings benefits at home”.
Sir Keir said whisky distilleries, which he hailed as the ‘jewel in Scotland’s crown’, would benefit from the move.
As a result of a new deal agreed during the Labour leader’s trip to China, tariffs on Scotch whisky are to be cut from 10% to 5% – a deal the UK Government said would be worth £250m to the UK’s economy over the next five years.
94 patients were harmed by Great Ormond Street surgeon, review finds
Some 94 patients suffered harm at the hands of a Great Ormond Street orthopaedic surgeon, a report has concluded.
Yaser Jabbar treated hundreds of children from 2017 to 2022 at Great Ormond Street Hospital (Gosh) in London, with independent experts saying in a new review that his surgery fell well below the level expected in several areas.
Many patients came to harm during botched operations or were left in pain, with some going on to need further surgery.
Further heavy rain could worsen flooding after Storm Chandra
Further heavy rainfall could worsen flooding in some areas with more downpours forecast intensifying problems across an already saturated UK.
A yellow rain alert has been issued for Devon and Cornwall, from 9am today through to 6am on Saturday for an area stretching from Land’s End to Exeter.
A separate yellow warning for Northern Ireland, on Friday, is forecast to bring ‘spells of heavy rain leading to some transport disruption and flooding in places’.
