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The UK's Financial Conduct Authority (FCA) has warned motor finance lenders to strengthen their plans for compensating customers affected by the mis-selling scandal. The City watchdog's review found that while most firms understood the regulator’s requirements, many compensation plans remained too high-level and lacked detail on the systems, workflows and procedures needed to deliver payouts. The FCA estimates its proposed redress scheme could result in around £7.5bn being paid across 12.1m finance agreements dating from 2007 to 2024. The scheme is currently delayed by legal challenges from three lenders, while a consumer group is also challenging the proposed arrangements. If the FCA’s scheme survives, compensation payments could begin next year.

 

The Times

Apple has announced a new fee structure for apps distributed in the European Union as it seeks to comply with the bloc’s Digital Markets Act and resolve disagreements with regulators. From October 1st, Apple will charge a 5% Core Technology Commission on digital transactions for apps distributed through alternative marketplaces or the web, replacing its previous Core Technology Fee and eliminating separate acquisition and store services fees. Apps distributed through Apple’s App Store but using alternative payment processing will face a 20% commission, falling to 10% for developers participating in its small business programme. Apple said the changes will create a single set of EU developer terms similar to those offered in markets including Japan and Brazil. The European Commission has welcomed the changes and will monitor their implementation. However, Epic Games, which has long challenged Apple’s App Store practices, criticised the new commission as a “junk fee” and argued that the changes do not go far enough to promote competition.

 

CNBC

New York Times

Reuters

Wall Street Journal

The UK's Competition and Markets Authority (CMA) has launched investigations into Trainline, Virgin Atlantic, and Red Driving School for potential misleading pricing practices. The CMA is examining whether thee companies displayed all mandatory fees upfront. The investigations come as part of a broader effort to address so-called drip pricing, whereby mandatory fees are not included in the headline price shown to customers. All three firms have been issued advisory letters as part of the CMA's first consumer protection drive under new enforcement powers. Emma Cochrane, executive director for consumer protection at the CMA, said: "Clear pricing helps people compare offers confidently and choose the option that works best for them. Unexpected mandatory charges make this much harder."

 

BBC News

The Guardian

The Times

Diageo will reformulate several leading whisky and rum brands sold in India within three months after the Food Safety and Standards Authority of India raised concerns over added flavouring substances. The move follows a regulatory crackdown that saw some products barred in certain states over alleged labelling and flavouring violations, with affected Diageo brands including Antiquity Blue, Royal Challenge whisky, and McDowell’s No. 1 Celebration Matured XXX Rum. Diageo said it has engaged with the regulator and taken measures to bring its products fully into line with revised requirements. 

 

Economic Times

Young people are increasingly struggling to find stable employment as the global jobs outlook worsens. The International Labour Organization's report, "Global Employment Trends for Youth 2026: Back to the Future," reveals that the unemployment rate for those aged 15 to 24 reached 12.4% in 2025, leaving 67m young people without jobs. The report noted that youth unemployment rose in eight of the world's 11 sub-regions from 2023 to 2025, reversing some of the recovery that followed the pandemic.

 

Yahoo News Australia

German companies cut their investments in the United States to ‌the lowest ​level since 2023 in the first half of this year, according to the German Economic Institute (IW). Direct investments in the first-half fell by nearly two-thirds year-on-year to €4.3bn ($5bn). "This continues the downward trend that has been evident since ​the start of Donald Trump's second term in January 2025," IW researcher Samina Sultan told Reuters.

 

Reuters

UK inflation has accelerated to 2.9% in July from 2.6% in June, its highest level since March, as a 13% increase in the household energy price cap pushed up gas and electricity bills. The rise was in line with economists’ expectations but slightly above the Bank of England’s 2.8% forecast, while services inflation eased to 3.4% from 3.6% and core inflation remained at 2.6%. Cheaper motor fuel and slower growth in air fares helped offset higher energy costs, while food inflation eased to 1.3%, its lowest since September 2021. However, underlying price pressures remain a concern, with Bloomberg Economics estimating that a measure of services inflation excluding volatile and regulated components rose to 3.8% from 3.6%. The Bank of England expects headline inflation to peak at 3.2% in the final quarter, with further increases in energy bills and elevated oil prices presenting upside risks.

 

Bloomberg

Financial Times

Reuters

The Times

The US Department of Justice (DOJ) has unsealed a 14-count indictment against 17 Iranian nationals who are accused of conducting a cyber theft campaign on behalf of Iran's Islamic Revolutionary Guard Corps (IRGC). The indictment alleges that the group targeted at least 144 US universities, 178 foreign universities, and 42 US private companies, stealing over 31 terabytes of academic data and intellectual property. US Attorney Jamie McDonald said: “These charges reveal the broader network allegedly behind a sweeping, state-sponsored campaign to steal research and intellectual property.” The charges include conspiracy to commit computer instructions and wire fraud. Maximum sentences range from five to 20 years. The State Department is offering a reward of up to $10m for information on five of the defendants.

 

The Hill

Klarna is overhauling its leadership and seeking a New York-based chief financial officer as the Swedish lender pursues a US banking licence and shifts towards a more traditional banking model. Current chief financial officer Niclas Neglén and chief marketing officer David Sandström will step down at the start of next year, while Klarna has applied for a US banking licence as it expands into savings, interest-bearing loans and other financial products. The changes came alongside second-quarter results showing revenue up 27% to around $1bn and net income of $9m, compared with a $53m loss a year earlier. However, Klarna cut its full-year gross merchandise volume guidance to $149bn-$151bn from $155bn, citing weaker retail spending in Germany and a $600m currency impact, sending its shares down nearly 20%.

 

Bloomberg

Financial Times

Reuters

Tesla is preparing for a public launch of Cybercab, ​the company's ​purpose-built autonomous vehicle without pedals or a ​steering wheel, starting with a rollout in Austin, Texas, ‌as soon as this month, The Information has reported. Reuters says Cybercab is critical to Tesla's robotaxi ⁠ambitions: the company plans to ​eventually deploy the vehicle for its autonomous ride-hailing ​service.

 

Elektrek

Reuters

The Information

A quarter of firms in the UK are increasingly hiring candidates with AI skills, a fifth are creating new AI-specific roles, and more than half (54%) said the technology led to job creation, according to the Lloyds Business Barometer. Amanda Murphy, CEO of business and commercial banking at Lloyds, said companies must shift from accessing AI to “building the skills, culture and confidence to use it effectively.” The survey polled 1,200 companies in July.

 

Bloomberg

In 2025, 350 aid workers were killed globally, with Gaza and Sudan being the most dangerous locations, according to the United Nations. This figure is a slight decrease from 2024's toll of 377. The UN Office for the Coordination of Humanitarian Affairs (OCHA) highlighted that 186 fatalities occurred in Gaza, while 71 were reported in Sudan. "More than 1,000 aid workers have been killed in just three years and that is utterly unacceptable," Tom Fletcher, under-secretary-general for humanitarian affairs, said. "But just calling it out will not protect the next aid worker. States must uphold international humanitarian law and use every tool to protect civilians and our colleagues . . . And for those who break the rules, there must be real consequences," he said.

 

France 24