6:53 am, July 16, 2026
Stronger protections for buy now pay later customers come into force
Buy now pay later (BNPL) customers must be given clearer information and undergo proportionate affordability checks under stronger protections that have been introduced.
The sector is now under the regulation of the Financial Conduct Authority (FCA) and lenders will need to be authorised by the regulator to provide BNPL products.
BNPL firms will also be subject to the Consumer Duty, which requires financial firms to put customers at the heart of what they do, and which is overseen by the FCA.
Andy Burnham declines to rule out wealth tax and will be ‘upfront’ with Trump
Andy Burnham has declined to rule out introducing a wealth tax and suggested the Government ‘might be having to ask for a little more’ at some point to balance Britain’s books.
The incoming prime minister said he needed time to look at the state of the public finances before committing to policy changes but argued a ‘greater sense of fairness’ was needed.
The Makerfield MP also indicated he would be willing to disagree with Donald Trump, promising to be ‘very upfront’ while ‘respecting the office’ as he faced questions about his approach to a strained transatlantic relationship.
Geely’s EX2 arrives priced from £20,990
Geely has announced full pricing and specifications for its new EX2 compact electric SUV.
The EX2, which follows on from the Chinese brand’s Starray and EX5 models, is available with a 35kWh electric motor bringing a range of up to 155 miles, or a larger 47kWh battery and a range of up to 214 miles. All cars get a rear-wheel-drive layout as standard, too.
The entry-level, £20,990 Pro model gets electrically adjustable front seats, a 14.6-inch infotainment display and an 8.8-inch digital instrument cluster. All cars get Apple CarPlay and Android Auto as standard, too, which can be accessed wirelessly.
The markets
The FTSE 100 ended lower on Wednesday as weak miners kept London’s lead index in check amid soft economic data in China.
The FTSE 100 closed down 13.47 points, 0.1%, at 10,515.92. The FTSE 250 ended up 55.56 points, 0.2%, at 23,462.39, while the AIM All-Share rose 0.16 of a point at 765.74.
In European equity markets on Wednesday, the CAC 40 in Paris ended up 0.2%, while the DAX 40 in Frankfurt fell 0.6%.
Wednesday on Car Dealer
Dealers perplexed as Carwow radically shakes up its daily auctions removing reserve prices
Carwow has removed visible reserve prices from dealer auctions, replacing them with retail valuations. The move has divided dealers, with critics saying it forces blind bidding while Carwow argues it increases bids, improves seller commitment and reduces post-auction negotiations.
CarGurus launches AI-powered car search tool as it celebrates 10 years in UK
CarGurus has launched Discover, an AI-powered conversational search tool that matches buyers with suitable cars using natural language. The feature aims to deliver more qualified leads for dealers and marks the marketplace’s 10th anniversary in the UK.
Brindley profits edge up as dealer group shakes-up network with influx of Chinese brands
Brindley increased pre-tax profit 2% to £3.29m and turnover 3.5% in 2025, despite losing its Volvo franchise. The dealer group says expanding partnerships with Chinese brands positions it strongly for growth amid a rapidly changing UK automotive market.
The Motor Ombudsman opens new Liverpool hub in response to hike in demand
The Motor Ombudsman has opened a Liverpool hub alongside its London headquarters after a 22% rise in consumer disputes. The expansion will create 17 jobs and increase capacity to handle growing demand for its automotive dispute resolution service.
Heartbreak for England fans as Three Lions endure semi-final sorrow again
England fans were devastated as their hopes that the Three Lions could end 60 years of World Cup hurt were dashed when Argentina won 2-1 in their semi-final.
Supporters of Thomas Tuchel’s side had been optimistic that they could beat the defending champions, despite their concern that captain Lionel Messi could get in the way.
The joyous mood after Anthony Gordon put the Three Lions ahead 10 minutes into the second half – after a goalless, cagey first 45 minutes – came crashing down as Enzo Fernandez equalised 85 minutes in. It soured even further when Lautaro Martinez put Argentina in the lead in the 92nd minu
Keir Starmer pledges ‘wholehearted support’ to Andy Burnham in final PMQs
Sir Keir Starmer has pledged to give his ‘wholehearted support’ to prime minister-in-waiting Andy Burnham, as he made his final appearance at the despatch box.
The Prime Minister said he will ‘give my support privately if asked for, not publicly when not asked for’, as he faced his last Prime Minister’s Questions.
Sir Keir received a standing ovation from the majority of the House of Commons at the end of the session, as he said it was the ‘end of (his) political journey’.
Weather outlook…
Northern England, Scotland and Northern Ireland should be mainly dry and sunny today after early cloud clears, with fresher conditions in the far north and stronger breezes.
Southern England and Wales will stay very warm to hot with prolonged sunshine, though southwest England could see isolated thunderstorms later.
Overall, most regions will be dry, bright and above average in temperature.