Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Thursday newspaper round-up: Lloyds Banking Group, Microsoft, car finance crisis

(Sharecast News) - The former cryptocurrency executive Nishad Singh, who once shared a $35m Bahamas penthouse with the FTX founder, Sam Bankman-Fried, was spared prison time by a judge on Wednesday for his role in the theft by his imprisoned former boss of about $8bn in customer funds from the now bankrupt exchange. The United States district judge Lewis Kaplan imposed the sentence during a hearing in Manhattan federal court. - Guardian Lloyds Banking Group has scrapped commission payments across its £15bn motor finance arm after a landmark ruling on car loan misselling, as industry and Treasury officials hold urgent talks amid fears of contagion across the wider financial sector. The moves follow last week's court of appeal judgment, which agreed that consumers could not have consented to loans that involved "secret" commission payments to brokers and car dealers. - Guardian

Microsoft's costly investment in artificial intelligence technology is paying off, with quarterly sales surpassing Wall Street expectations to grow 16 per cent to $65.6 billion. Revenue from Microsoft's Azure cloud computing business, a significant source of growth in recent years, rose 33 per cent in the fiscal first quarter, ahead of estimates of 32 per cent. - The Times

One of the most senior former regulators in Britain has blamed the Financial Conduct Authority for the crisis shaking the motor finance industry, saying the lack of clarity in its rulebook was to blame. Sir Howard Davies, the former chairman of the FCA's predecessor body, the Financial Services Authority, said he was disappointed by the role of the FCA, adding that the crisis "has caused a lot of anxiety". - The Times

Former business secretary Lord Mandelson has resigned from the board of a start-up bank founded by a Labour Party donor. In a boardroom clear-out, The Bank of London said Lord Mandelson, Wade Davis and Anthony Watson, the group's founder, had all stepped down as directors. The bank's chairman, Carlyle Group chief executive Harvey Schwartz, will also leave. - Telegraph

Share this article

Related Sharecast Articles

Wednesday newspaper round-up: Aviva Investors, HSBC, car finance
(Sharecast News) - One of the UK's biggest pension funds has lost more than £350m on a series of "calamitous" investments in incinerator power plants that are expected to go bust in the coming days. The Guardian understands that Aviva Investors will put three incinerators into administration this week after pouring millions of pounds into what has been described as the country's "dirtiest form of power generation". - Guardian
Tuesday newspaper round-up: Starling Bank, Asos, Morrisons
(Sharecast News) - Staff have resigned at Starling Bank after its new chief executive demanded thousands of workers attend its offices more regularly, despite lacking enough space to host them. In his first major policy change since taking over from the UK digital bank's founder, Anne Boden, in March, Raman Bhatia has ordered all hybrid staff - many of whom were in the office only one or two days a week, or on an ad-hoc basis - to travel to work for a minimum of 10 days each month. - Guardian
Monday newspaper round-up: Energy bills, Black Friday, Lloyds Bank, Sephora
(Sharecast News) - Household energy bills across Great Britain are set to rise at the start of next year, analysts predict, putting more pressure on household finances. Officially, the price cap for January-March 2025 will be set on Friday morning by regulator Ofgem, limiting what energy providers can charge in England, Scotland and Wales. - Guardian
Sunday newspaper round-up: Kursk, AstraZeneca, BAE Systems
(Sharecast News) - America's President has authorised Ukraine to employ long-range ATACMS supplied by the US to strike targets inside Russia. More specifically, Kyiv will now be allowed to strike targets within the Kursk region, the New York Times reported. Speculation may increase that permission from Britain, the US and France to do the same with Storm Shadow missiles could follow. Joe Biden's decision is said to have been triggered by the appearance of North Korean troops in the Kursk region. - The Sunday Telegraph

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.