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Interest-free “buy-now-pay-later” (BNPL) deals face tighter regulation under plans announced by the government. A review published by the Financial Conduct Authority (FCA) found that the currently unregulated use of BNPL products nearly quadrupled to £2.7bn during 2020 and five million people had used them since the start of the pandemic. It concluded that the market
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The UK will formally apply to join a huge free trade pact including Australia, Canada, Japan and Singapore, under the government’s post-Brexit plans. International Trade Secretary Liz Truss will use a conversation with ministers in Japan and New Zealand on Monday to request membership of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). Announcing the move
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Boohoo Group is in advanced talks to acquire the remaining components of Sir Philip Green’s high street empire in a deal that will accelerate the transition of famous British retail names to becoming online-only brands. Sky News has learnt that Boohoo is nearing exclusive negotiations to snap up the Burton, Dorothy Perkins and Wallis brands
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US financial market regulators are to review the extraordinary rallies in the shares of struggling gaming retailer Gamestop, part-driven by participants of an investor forum on Reddit. The Securities and Exchange Commission said it was working with fellow regulators to “assess the situation and review the activities of regulated entities, financial intermediaries, and other market
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The government is working to persuade Vauxhall’s parent company to commit to future production at its Ellesmere Port plant, Business Secretary Kwasi Kwarteng has said. Stellantis says it will decide the fate of the Cheshire plant, which employs around 1,000 people directly, “in the coming weeks”. Ellesmere Port currently makes the Astra, a model which
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