City investors to give verdict on car finance scandal ruling and compensation scheme – business live

Rolling coverage of the latest economic and financial newsMillions in line for payouts from £18bn car loan compensation schemeGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The latest twists in the UK car finance scandal could grip the City today, as investors try to estimate where the financial impact will land, and how heavy it will be.“It is clear that some firms have broken the law and our rules. It’s fair for their customers to be compensated. We also want to ensure that the market, relied on by millions each year, can continue to work well and consumers can get a fair deal.”“Our aim is a compensation scheme that’s fair and easy to participate in, so there’s no need to use a claims management company or law firm. If you do, it will cost you a significant chunk of any money you get.”3pm BST: US factory orders report for June Continue reading...

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