Wednesday newspaper round-up: Motor finance compensation, car manufacturers, Rebel Energy
By Michele Maatouk
Date: Wednesday 02 Apr 2025
(Sharecast News) - A court of appeal ruling that has left lenders fearing PPI-level compensation bills over the motor finance commission scandal "goes too far", the City regulator said on Tuesday. The Financial Conduct Authority (FCA) made the comments in a written submission to the supreme court on Tuesday, as part of a high-profile case being closely watched by the government. The Treasury, which tried but failed to intervene in the case, is concerned the standing decision could spook businesses and threaten investment in the UK. - Guardian
Ten leading car manufacturers - plus two automotive trade bodies - have been fined more than £77m by a UK regulator after admitting breaking competition law in relation to advertising their green credentials. The Competition and Markets Authority (CMA) launched an investigation after a tipoff from Mercedes-Benz, which allowed the German marque to avoid financial penalties despite also being involved in the cartel. - Guardian
Nearly 400,000 more people will be judged unfit to work after Liz Kendall scrapped Tory reforms in her overhaul of Britain's welfare system. The decision by the Work and Pensions Secretary to undo tighter criteria for people applying for sickness benefits means many more will qualify for it by the end of the decade. - Telegraph
Energy supplier Rebel Energy has gone bust after allegedly raiding funds that were supposed to be ring-fenced for paying green levies. It means about 80,000 domestic customers and 10,000 businesses have been abruptly left without a supplier. The Bedford-based firm's collapse followed a compliance order imposed a few weeks ago by Ofgem, the energy regulator, and raises new questions about the watchdog's ability to protect customers. - Telegraph
Tesla sales in key European markets fell again in March, adding to signs that consumers are shunning Elon Musk's electric car brand as competition from China stiffens and some protest against his political views. New Tesla sales in France and Sweden dropped for a third consecutive month, contributing to its lowest first-quarter sales figures in the two countries since 2021. The European figures come before the world's most valuable listed carmaker is due to report on Wednesday how many vehicles it delivered worldwide during the first quarter of 2025. - The Times
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