6:50 am, October 9, 2025
Shares in UK lenders rise after watchdog softens car loan compensation costs
Shares in the UK’s biggest car lenders have risen after the UK’s financial watchdog softened the estimated total cost to the industry under its compensation scheme.
Lloyds Banking Group, Close Brothers Group, and Barclays shares were all moving higher on Wednesday morning.
It comes after the Financial Conduct Authority (FCA) set out proposals for its redress scheme, which aims to compensate customers who were treated unfairly when they were sold a car loan between 2007 and 2024.
Jaguar Land Rover ‘back to doing what we do best’ after major cyber attack
Jaguar Land Rover (JLR) has said they are ‘back to doing what we do best’ as production resumes after weeks of disruption following a major cyber attack.
The British car maker welcomed back 1,000 employees to its engine plant in Wolverhampton on Wednesday, with Range Rover production lines in Solihull to kickstart production again on Thursday.
The firm’s stamping operations in Castle Bromwich, Halewood in Merseyside, and Solihull, have also resumed production on Wednesday.
Aston Martin takes DB12 performance to a new level with ‘S’ version
Aston Martin has topped its DB12 range with a new high-performance ‘S’ variant.
Following on from the DBX S, the DB12 S gains a number of enhancements made to the engine, chassis and drivetrain to help it deliver an even more involving driving experience.
Power from the 4.0-litre twin-turbocharged V8 engine has been increased by 20bhp to a total of 690bhp, helping it to manage 0-60mph in 3.4 seconds and a top speed of 202mph. Acceleration is helped by a recalibrated and optimised launch control system, too.
FTSE 100 at new high as gold rush boosts miners
The FTSE 100 hit new heights on Wednesday, boosted by gains in miners as the price of gold surpassed 4,000 dollars an ounce for the first time.
The London-based index closed up 65.29 points, or 0.7%, at 9,548.87, a new closing peak. It had earlier set a new intra-day best level of 9,577.08.
In European equities on Wednesday, the CAC 40 in Paris leapt 1.2% and the DAX 40 in Frankfurt ended up 1.0%.
Wednesday on Car Dealer
Lithia staff facing job losses after US giant splashes out on Hatfields deal
Staff at Lithia UK have reportedly been told they’re at risk of redundancy, just days after the group’s acquisition of Hatfields. While Hatfields employees are unaffected, Lithia’s workers across existing sites have now been entered into a consultation period amid restructuring plans.
JLR hack wipes £5.5m off Vertu’s profit expectations despite strong start to the year
Vertu Motors has cut its profit forecast by £5.5m after the JLR cyberattack caused major disruption across its 10 dealerships. September trading alone took a £2m hit, though CEO Robert Forrester praised staff for minimising customer impact amid system outages.
Snows Motor Group bounces back from multi-million-pound loss to post hefty profits in 2024
Snows Motor Group has bounced back to a £1.3m pre-tax profit in 2024 after a £2.6m loss the previous year. The turnaround was driven by higher margins, reduced capital spending, and network streamlining alongside new BYD, Toyota, and Lexus site openings.
Used car market is in a ‘robust’ position heading into 2026 – Auto Trader
Auto Trader COO Catherine Faiers says the used car market remains robust heading into 2026, with values, volumes, and demand all rising. She urged dealers to analyse trends by vehicle age, noting differing dynamics between nearly new and older cars require targeted retail strategies.
JLR reveals slump in sales as importance of production return is thrust into sharp focus
JLR’s global sales plunged 17.1% to 85,495 units between July and September as the August cyberattack halted production. UK sales dropped nearly a third, with CEO Adrian Mardell calling it a “challenging quarter” but confirming manufacturing has now begun to restart.
Badenoch vows to abolish stamp duty as she closes Tory conference
Kemi Badenoch promised to abolish stamp duty if the Conservatives win the next election as she closed the party conference.
Having focused on borders in her opening address, Mrs Badenoch used her leader’s speech on Wednesday to set out her vision of a country where the state ‘does less but does it better’ and ‘profit is not a dirty word’.
She pledged to impose a ‘golden rule’ on her budget plans, spending only half of any savings made through spending cuts, with the rest going to reduce the deficit.
Floating Land Rover used to cross Bering Strait is to be sold at auction
A modified Land Rover described as the first and only vehicle to cross the Bering Strait, a more than 50-mile-wide stretch of water separating Asia and North America at their closest point, is to be sold at auction.
The 4×4 had a propeller and two large red floats added to it to successfully complete the crossing in 2008.
Adventurer and cattle farmer Steve Burgess made the journey as part of the Cape to Cape Expedition.
Weather outlook…
The UK can today expect a cool, overcast autumn day with occasional light rain.
Highs will hover around 14–16 °C, while evenings drop to about 8–10 °C.
Overall, a grey, damp day with scattered drizzle and limited sunshine.
