Category Archives: Business

Lloyds bank faces £66m court battle with car loan customers

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Law firm is preparing claim on behalf of 30,000 consumers who fear the FCA’s redress scheme will shortchange them

Lloyds Banking Group is facing a court battle with 30,000 aggrieved car loan customers who are to abandon the City regulator’s official redress scheme amid fears it will shortchange consumers and favour lenders.

The claims law firm Courmacs Legal is planning to file a £66m omnibus claim on behalf of borrowers who believe they were financially harmed by car loan contracts set up by Lloyds’ motor finance arm, Black Horse.

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Italy investigates beauty brands over concerns about young girls’ mental health

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Regulator fears use of ‘covert marketing strategies’ by Sephora and Benefit might fuel compulsive habits

Italian regulators are investigating Sephora and Benefit Cosmetics over the apparent use of “covert marketing strategies” to sell beauty products to young girls that might be fuelling an unhealthy skincare obsession known as “cosmeticorexia”.

The Italian Competition Authority said it was looking into promotions for skincare products such as face masks, serums and anti-ageing creams that in some cases appeared to target girls under 10.

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Older Australians in ‘immediate danger’ as fuel crisis affects travel for aged care workers

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Unions and farmers call for government intervention as agriculture, construction and waste industries also at risk from higher prices

Care workers, tradespeople and transport drivers are being hit hard by ballooning fuel costs, with some industry groups urging the government to roll out assistance packages or even a jobkeeper-style wage assistance program to help businesses avoid laying off staff.

Reports of small mining businesses scaling back operations and some construction companies deciding against hiring more apprentices have prompted suggestions the government should step in to help, with the Master Builders Association already forecasting a downturn in the number of homes that will be built this year.

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Five firms including Autotrader and Just Eat investigated over fake review failings

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CMA also looks into Pasta Evangelists, funeral operator Dignity and review company Feefo in latest crackdown

The UK competition watchdog has launched investigations into five companies including Autotrader and Just Eat over concerns they have not done enough to tackle fake and misleading online reviews.

The Competition and Markets Authority (CMA), which has previously investigated the tech companies Amazon and Google, said its latest crackdown includes the funeral services operator Dignity, the review company Feefo and the restaurant chain Pasta Evangelists.

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Next says Middle East conflict could raise clothing prices by up to 10%

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Retailer says higher fuel and factory costs may hit supply chains and lead to ‘significant increase in prices’

The boss of Next has said clothing prices could rise by 4% to 10% if conflict in the Middle East extends into the autumn and factories are hit by higher fuel and fabric costs.

Simon Wolfson said the clothing and home retailer had so far seen little disruption to its supply chain.

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Iran war threatens to delay large offshore wind projects in EU and UK

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Industry fears strait of Hormuz closure could disrupt shipping of crucial parts for UK and German North Sea projects

• Business live – latest updates

A string of large offshore wind projects in Europe are facing potential delays as the Iran war threatens to disrupt shipping of crucial parts manufactured in the Gulf.

Industry sources are concerned that components ordered from suppliers in the United Arab Emirates could become trapped if shipping remains effectively blocked through the strait of Hormuz.

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‘Makes Covid look like a tea party’: Australian food prices could rise for the next year, farmers warn

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Iran conflict could see shortages not just in fuel, but fertiliser and fossil fuel resins – used to make milk bottles

Farmers say Australian consumers could pay more for everyday staples for the next year at least as a result of the US-Israel war on Iran.

But the CEO of dairy farmer cooperative Norco, Michael Hampson, says a six- to 12-month disruption to food supply is likely a best-case scenario, depending on the strait of Hormuz reopening soon and global petrochemical supply chains beginning to stabilise.

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Irish metals refinery is in supply chain that feeds Russian war machine, records suggest

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Shipments to Russian smelters from Aughinish Alumina have increased sharply since the invasion of Ukraine

A leading Irish metals refinery is part of an international aluminium supply chain that appears to conclude with shipments to arms producers feeding the Kremlin’s war machine in Ukraine, leaked records and public data suggests.

Trading records show that shipments to Russian smelters from Aughinish Alumina, which is located on the Shannon estuary in the west of Ireland and has been owned by the Russian aluminium group Rusal since 2006, have increased sharply since the invasion of Ukraine in 2022.

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Japan to begin biggest-ever oil release from national reserves as Middle East energy crisis bites

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PM Sanae Takaichi says about 80m barrels of stockpiled oil to be provided to refiners – equivalent to 45 days of domestic demand

• Middle East crisis – live updates

Japan will begin the biggest-ever release of oil from its strategic reserves this week, the prime minister, Sanae Takaichi, has said, as the country braces for possible shortages caused by the US-Israel war on Iran.

The government last week approved the release of 15 days’ worth of private-sector reserves, amid concern that the conflict in the Middle East will continue to hinder the flow of tanker traffic along the strait of Hormuz.

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‘We consider every mile we drive’: how fuel shortages are affecting readers worldwide

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From a shop owner in India to a community worker in New South Wales, rising fuel prices are forcing people to ration oil usage

Alagesan, 35, needs liquefied petroleum gas (LPG) to run his roadside drink and snack shop in Coimbatore, India, but with the fuel shortage since the US-Israel attacks on Iran, he worries his business could fold.

“I am far away from the Middle East, but my life is affected,” he said. “The gas cylinder is not available because of the war. I don’t know what to do.”

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Ministers tell HS2 to consider slower train speeds to cut costs

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Company will assess whether drop to 186mph from 224mph will save money and help bring forward launch

Ministers have told High Speed Two to consider running its trains at lower speeds, in an attempt to rein in the spiralling budget and begin operations as soon as possible.

HS2 Ltd will assess whether limiting the speed to 186mph (300km/h) instead of 224mph could save money – potentially billions of pounds – and bring the railway into being earlier in the 2030s.

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HS2 firm says new steel tariffs will ‘exacerbate’ cost pressures for UK construction industry

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Doubling tariffs on imported steel will raise cost of the metal when Iran war is already inflating steel and concrete prices

One of HS2’s biggest contractors has warned the government that raising tariffs on foreign steel imports will “exacerbate” cost pressures for the UK construction industry, amid growing concern over the £100bn railway’s rising budget.

Ministers said last week they would double the tariffs on imported steel and slash the amount that can be bought from overseas, in an attempt to save Britain’s struggling steelmakers.

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‘The stakes are enormous’: how a prolonged Iran war could shock the global economy

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Donald Trump’s ‘little excursion’ is likely to have long-term effects, from oil prices to inflation to growth, say experts

In the days after the US and Israel first bombed Iran, financial markets bet the economic fallout from Donald Trump’s “little excursion” in the Middle East would be short-lived.

“There are risks from higher oil prices longer term. But this is a tail risk,” one US-based fund manger said after the airstrike killing Iran’s supreme leader, Ayatollah Ali Khamenei. “History has shown time and time again that geopolitical flare-ups like this tend to be short-lived. This one should prove to be no exception.’’

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Liberals have ‘a lot of work to do’ after SA wipeout, Anne Ruston says – As it happened

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Australia not ‘contemplating’ fuel rationing but state and federal governments have powers, Bowen says

State governments also had fuel rationing powers, Chris Bowen said.

When I was a kid … in the 80s in Sydney, I remember petrol rationing was done by state governments – the state governments do have powers there.

Yes, the Commonwealth government, under the fuel emergency act, has powers.

It’s not designed to be invoked lightly. It really has powers primarily around defence and health, in the first instance, to ensure that those key areas are getting diesel that they need, but also other forms of fuel.

I would need to be satisfied that there’s a real shortage and that the powers under that act are useful.

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Owners from Great Britain travelling to EU warned over pet passport ‘dodge’

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Bypassing animal health certificate system by using cheaper pet passport issued abroad could backfire, experts say

British pet owners who want to take their furry friends elsewhere in Europe have been warned not to try to dodge expensive health certificates by using a pet passport issued abroad.

Before Brexit, taking a cat, dog or ferret to the EU was relatively simple: the Pet Travel Scheme meant an animal needed a microchip, vaccination against rabies, a pet passport and, for dogs, there were also requirements concerning tapeworm treatment.

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US lifts sanctions on Iranian oil at sea in bid to ease supply pressures

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Treasury secretary Scott Bessent says move will bring 140m barrels to market but insists Tehran will not benefit

The Trump administration has issued a 30-day sanctions waiver for the purchase of Iranian oil at sea to ease energy supply pressures since the start of the US-Israeli war on Iran, US treasury secretary Scott Bessent said.

It is the third time the US has temporarily waived sanctions in about two weeks.

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Marmite maker Unilever in talks to merge food business with US-based McCormick

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Anglo-Dutch company, which also owns Dove and Hellmann’s, will focus more on personal care products if deal agreed

Unilever, the owner of Marmite, Dove and Hellmann’s mayonnaise, is in talks to combine its food business with the US-based spice and seasoning maker McCormick.

The Anglo-Dutch food company – which last year spun off its ice-cream division, the home to Ben & Jerry’s, Magnum and Wall’s – has entered discussions over the future of the “highly attractive” business.

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Australia news live: Tropical Cyclone Narelle poised to hit Queensland coast within hours with wind gusts up to 250km/h

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Tropical cyclone expected to make landfall in far north Queensland within hours. Follow today’s news live

Waves of near-record heights smash Cairns coastline

One of the challenges posed by Severe Tropical Cyclone Narelle is the lack of weather monitoring infrastructure in remote parts of Cape York.

Winds of that speed are pretty hard to imagine if you haven’t experienced them before. They are just so, so strong, capable of uprooting really large trees or completely stripping them of their branches …

It can also cause extensive damage to properties in the path of those very strong wind gusts as well as power outages.

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Ban corporate donations to UK political parties to protect elections, says thinktank

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CenTax warns bill under debate in parliament has ‘easily exploitable’ loopholes and will not prevent foreign interference

Political donations by companies should be banned to protect UK elections from foreign interference, a thinktank has warned.

In the first big overhaul of election funding in 26 years, ministers have pledged to “keep British democracy safe” by closing a loophole that allows individuals not eligible to vote in Britain to donate to political parties through UK-registered companies.

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HelloFresh hit by sales slump as people lose appetite for meal kits

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German food delivery firm’s share price has plummeted by 93% since 2021 boom during Covid lockdowns

HelloFresh has reported a sharp decline in sales as the struggling food delivery company battles falling demand after the pandemic-era meal kit boom.

The German company was forced to make 900 UK job cuts last year with the closure of a delivery site in Nuneaton, and the demand for meal kits tumbled as revenue fell by more than 11% during 2025.

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