
Martin Lewis explains car finance mis-selling case as Supreme Court to deliver verdict
The judgement will be delivered on Friday afternoon, which could pave the way for a massive redress scheme potentially affecting millions.
It will rule on a shock Court of Appeal ruling last autumn that all car finance agreements with hidden commission were unlawful.
The outcome of the ruling could have major consequences for the industry, with the FCA telling the Supreme Court last year that almost 99 per cent of the roughly 32 million car finance agreements entered into since 2007 involved a commission payment to a broker.
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Daily Mail
10 minutes ago
- Daily Mail
Interest rate hopes send Footsie to a record high as traders shrug off concerns about Trump's India tariffs
The FTSE 100 hit a fresh record yesterday as traders placed bets on another interest rate cut from the Bank of England. The index closed up 0.2 per cent, or 21.58 points, at 9164.31 after a similar record-breaking session on Tuesday when it passed 9142. Traders shrugged off concerns about a trade war between the US and India after Donald Trump announced he would slap a 50 per cent tariff on goods from the South Asian nation in response to its importing of oil from Russia. The FTSE 100 was led higher by insurer Hiscox, which jumped 9.4 per cent, or 119p, to 1379p after it announced it would be increasing its stock buyback plans by £75million. Precious metals miner Fresnillo jumped 8.9 per cent, or 135p, to 1655p following strong results this week. Traders were also pricing in an expected interest rate cut from the Bank of England later today. Market forecasts are predicting the central bank will lower rates by 0.25 per cent to 4 per cent. Rate cuts tend to boost stock markets as they make it easier for firms to borrow and invest, stimulating growth. Lower rates also make it easier for mortgage holders and other borrowers to repay their debts, leaving them with extra cash to spend elsewhere. A rate of 4 per cent would be the lowest in over two years and signal that the decision-makers on the Bank's Monetary Policy Committee believe inflation pressures are starting to ease. But Tom Matterson, investment manager at Saltus, warned 'significant instability remains', highlighting the autumn Budget and turmoil in the global economy.


Telegraph
10 minutes ago
- Telegraph
Sheep dies ‘after being chased off cliff'
A sheep was killed when it was allegedly chased over a cliff edge in Cornwall, police have said. Members of the public confronted a man following the incident in Polly Joke, near Newquay, on July 27, according to Devon and Cornwall Police, who added that it was alleged the man reacted aggressively. In a statement, the force said: 'We know this incident has had a huge impact on the local community and we can't imagine why anyone would willingly chase or harm an innocent animal. 'Behaviour like this is unacceptable and we will continue to work alongside the investigating officers to bring the offender to justice. 'We believe there were a number of people who witnessed this incident who are yet to come forward but who may be able to assist us in our investigation. 'If you were in the area and have any information that may help us, please, please come forward.' Sam Haylett, of Guildford, Surrey, has denied responsibility for the sheep's death on social media, after a picture of him circulated across several platforms. It was claimed on social media that Mr Haylett and his two teenage sons had chased the sheep, but while he admits he was there, he said another man was responsible. Children 'upset' by shouting man Mr Haylett said: 'Just to set things straight. Yes that is me in the picture that everyone has been sharing around and yes I was down in Cornwall. 'I went away for a week with my whole family to spread my grandma and grandad's ashes at their special place. 'We stopped at a few spots and took lots of beautiful pictures, there were lots of sheep running around the fields and below us.' Mr Haylett said his children became 'upset' because they thought the sheep were stuck, before a man came 'shouting and swearing', accusing his children of chasing the sheep. He said: 'This made the children even more upset! I told him to stop swearing at the children but he continued to shout and said 'How the f--- would you like it if I threw you off the cliff?' to which I replied, 'You would be going first.' Mr Haylett claimed that the man walked towards the single sheep on the edge, which made the sheep run and then slip. He said: 'I'm not sure if it fell down as we were further up and it's very dangerous along there, the man was still shouting so we walked off. 'There was another couple at the top of the path who both said that the man was out of order for shouting at the children and they weren't chasing the sheep.'


The Sun
10 minutes ago
- The Sun
Primark owner to buy 135-year-old business in huge deal
PRIMARK'S London-listed parent company is set to make a huge deal to buy a 135-year old business. The deal that will unite brands Kingsmill and Hovis under the same ownership is expected to be announced by the end of the week. 3 3 Associated British Foods (ABF), which is the London-listed parent of Primark, are set to pay about £75 million to acquire Hovis, according to Sky News. The final touches of the landmark transaction between ABF and private equity firm Endless are reported to have been put in place on Wednesday. It will see ABF acquire the 135-year-old brand, with an announcement likely to come at the end of the week. The timeline, however, is subject uncertain and subject to delay as warned by banking sources. The second and third largest suppliers of packaged bread in Britain's major supermarkets will as a result come together in this deal. The move is therefore likely to ignite lengthy reviews from competition regulators. Sources in the industry have suggested that as a combined group, benefits of up to £50 million in annual cost savings could be made from the merger. The overall bakery market in the UK is estimated to be worth around £5 billion in annual sales, which equates to roughly £11 million loaves of bread sold each day. ABF owns Kingsmill's parent, Allied Bakeries, that has been struggling in recent years. Challenges have been linked to continual price inflation, changing consumer preferences and competition from other large rivals like Warburtons, as well as new entrants into the market. Huge A-list actress follows Samuel L Jackson and Robert De Niro to star in TV ads for bread firm Warburtons Family-owned business, Warburtons, is the largest bakery in the UK, with an estimated 34% share of the branded sliced breads. Hovis holds 24% and Allied Bakeries 17%, making their merger give them the largest segment of the market. Jon Jenkins, who is the current chief executive of Hovis, is also a former boss of Allied Milling and Baking. Prior to being owned by Endless, Hovis came under Premier Foods which also makes Mr Kipling, and the Gores family. The Hovis brand has a deep history, dating back to 1890, when its name was derived from the Latin 'Hominis Vis' meaning 'strength of man'. ABF has been seeing a number of changes in its brands, particularly with Primark recently. The merger from Primark's owner comes just months after the retailer introduced click & collect services in all its 187 stores across the UK. They also opened a brand new type of store, called Primark Home. The new iteration of Primark Home came just in time for the summer, and is dedicated to interiors for shoppers want a new range of homeware. The retailer also launched it's app for the first time in the UK just this week, with some greatly-anticipated features. 3