Close Brothers Group anticipates a £320 million cost due to the UK Financial Conduct Authority's motor finance redress scheme addressing historic commission practices on car loans. This estimate is slightly above the existing £294 million provision set in January and covers around 720,000 loans from 2007 to 2024. The company expects about 75% of eligible customers to claim, with payouts averaging £500 each, lower than the FCA's industry estimate. Payments will start in summer 2026 and continue through 2027, with the cost expected to reduce the group's CET1 capital ratio by 25 basis points but still keep it above target levels.
The global automotive microcontrollers market is projected to grow from USD 15.49 billion in 2025 to USD 34.31 billion by 2035, at a CAGR of 8.28%. Growth is fueled by increasing adoption of advanced driver-assistance systems (ADAS), vehicle electrif...
Alpaca, a brokerage infrastructure startup, secured $435 million in funding to enter prime brokerage services, challenging traditional Wall Street firms. The company’s API supports 94% of US equities and powers tokenized stocks for Kraken. Alpaca’s t...
Raymond James Financial's rating was raised to "Buy" after positive investor event disclosures and a promising preview of its upcoming quarterly results. The company is expected to exceed earnings per share consensus for Q3 FY26, driven by strong per...
Bitcoin and Ethereum experienced combined outflows exceeding $59 million as traders moved funds into stablecoins like USDT and fiat currencies, signaling a cautious stance in the crypto market. This rotation reflects a short-term defensive strategy, ...
Whales have accumulated 70 million XRP over the past week, showing strong confidence despite XRP's price consolidating below resistance levels. The XRP Ledger surpassed 8 million activated accounts, indicating growing network adoption across payments...
