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The Financial Conduct Authority (FCA) will unveil the final terms of its compensation scheme for the UK car finance scandal on Monday, providing clarity for millions of drivers who may be eligible for payouts. The scheme, which is expected to cost around £11bn, will offer redress to drivers who were overcharged for loans as a result of controversial commission payments between lenders and car dealers.The FCA's proposal, outlined over 360 pages, suggests that 14m motor finance agreements will be affected, with individual compensation payouts averaging around £700. However, some groups have argued that this amount is too low, and that consumers could be due £1,500 or more.The car loan providers most impacted by the scheme include Lloyds Banking Group, Santander, Barclays, and Close Brothers. These companies have been lobbying against the FCA's proposals, arguing that they are too generous and could disrupt the car finance market.The FCA's scheme aims to draw a line under the car finance scandal, but there are concerns that it could be circumvented or delayed by aggrieved parties. Some lenders and claims law firms have signaled that they may consider legal action against the FCA's final proposals.

A commercial court in France has dismissed Cardiff City's claim for £106m in compensation following the death of Emiliano Sala in a plane crash seven years ago. The court found that Nantes, Sala's former team, was not at fault in relation to the flight that resulted in Sala's death.The 28-year-old Argentine player was traveling from France to begin his career with Cardiff City when the single-engine Piper Malibu aircraft crashed into the sea near Guernsey, killing both Sala and pilot David Ibbotson. Cardiff had sought €122m (£106m) for loss of income and other damages from Nantes, claiming the French club was responsible because the flight was organized by an intermediary, Willie McKay.However, the court rejected Cardiff's contention, finding that McKay served as an agent for Nantes but did not organize the flight and was not aware of its illegality. The court also ruled that Nantes suffered moral damage and ordered Cardiff to pay €300,000 to the French club.Cardiff's lawyer, Céline Jones, expressed disappointment with the decision, stating that the club had initiated the process to uncover the truth and show respect for Sala's memory. In contrast, Nantes welcomed the decision, with their lawyer Jérôme Marsaudon saying the club was not responsible for the incident.This ruling follows previous decisions by Fifa and the Court of Arbitration for Sport (Cas), which have also gone against Cardiff in their legal dispute with Nantes. In 2022, Cas ruled that Sala's transfer had been finalized at the time of his death, and Fifa ordered Cardiff to pay Nantes the balance of Sala's transfer fee, amounting to just over €11m out of a total of €17m.

Iran has formally responded to the US's proposal to end the nearly month-long war, asserting its 'natural and legal right' over the Strait of Hormuz. The Islamic Revolutionary Guard Corps-affiliated Tasnim news agency reported that Iran had sent its official response on Wednesday night and was awaiting a response.The Iranian response appears to contradict US President Donald Trump's claim that Tehran was 'begging to make a deal'. Instead, Iran has laid out conditions that signal a continued hardening of its position, including an end to 'aggressive acts of assassination', compensation and war reparations, measures to ensure 'war does not recur', and an end to hostilities from 'all resistance groups that took part in this battle throughout the region'.US special envoy Steve Witkoff claimed on Thursday that Tehran was seeking an 'off-ramp', with signs that Iran had realised there was no alternative to negotiation. However, the source cited in Tasnim's report slammed the US proposal, claiming that Washington sought to 'deceive the world' by presenting a peaceful image while preparing for 'ground invasion'.Trump posted on Truth Social that he would pause attacks on Iran's energy infrastructure for 10 days until April 6, claiming Tehran requested the move amid 'ongoing' talks that were 'going very well'. He also claimed that Iran was 'begging to make a deal', saying 'We are absolutely obliterating Iran' and that Iranians were 'lousy fighters, but great negotiators'. The economic and humanitarian toll of the conflict continues to mount, with Iran effectively blocking the Strait of Hormuz, leading to fuel shortages worldwide.

Lloyds Banking Group is embroiled in a significant court battle with approximately 30,000 car loan customers who are seeking £66m in compensation. The claims, being handled by the law firm Courmacs Legal, stem from allegations that Lloyds' motor finance arm, Black Horse, engaged in unfair commission arrangements with car dealers, leading to customers being overcharged for their loans. This case is part of a broader car loans commission scandal that has affected numerous consumers. The Financial Conduct Authority (FCA) had proposed a redress scheme worth an estimated £11bn to compensate affected customers. However, the claimants have opted to pursue a court case instead, citing concerns that the FCA's scheme may not provide adequate compensation. Under the FCA's proposed scheme, consumers were expected to receive an average payout of £700 per claim, which is less than half of the £1,500 average payout recommended by some consumer groups. This discrepancy has led claims law firms to argue that the scheme favors lenders over consumers. The court case, expected to be filed in the coming weeks, marks a significant development in the ongoing car finance mis-selling scandal. Courmacs Legal will represent the 30,000 claimants, taking a 28% cut of any successful payout. The firm believes that pursuing a court case is necessary to ensure that their clients receive fair compensation. A spokesperson for the FCA emphasized that their redress scheme is designed to provide consumers with fair compensation quickly and without incurring high fees. Meanwhile, Lloyds Bank has declined to comment on the matter. This case is likely to be the first in a series of omnibus suits against other lenders involved in the motor finance mis-selling scandal. A court of appeal case brought by Lloyds and other banks is currently pending, which could potentially impact the progression of Courmacs's omnibus claims.

The United Nations has taken a significant step towards acknowledging the atrocities of transatlantic slavery, adopting a resolution that labels it as the 'gravest crime against humanity'. The resolution, proposed by Ghana, was passed with 123 countries in favor, 3 opposed, and 52 abstaining.The resolution is not legally binding but carries substantial political weight. It calls for reparations and urges member states to engage in dialogue on the issue, including issuing formal apologies, returning stolen artifacts, providing financial compensation, and ensuring guarantees of non-repetition.Ghana's President John Dramani Mahama, a key architect of the resolution, hailed its adoption as 'a route to healing and reparative justice'. The resolution's passage is seen as a crucial step towards addressing the ongoing impacts of slavery, which saw at least 12.5 million Africans abducted and sold between the 15th and 19th centuries.Despite the progress, there is growing backlash from Western leaders who oppose discussing reparations, arguing that today's states and institutions should not be held responsible for historical wrongs. The EU and the US expressed concerns that the resolution could imply a hierarchy among crimes against humanity.The Netherlands remains the only European country to have issued a formal apology for its role in slavery. The resolution comes after the African Union set out to create a 'unified vision' among its 55 member states about what reparations for slavery may look like.

National Savings & Investment (NS&I;), a state-owned savings bank in the UK, has admitted to a long-running administrative error that has resulted in nearly £500m in missing payments to bereaved families. The bank's chief executive, Dax Harkins, was forced out amid the scandal.NS&I;, which holds over £240bn for 24 million customers, has been accused of a series of errors dating back years. The bank allegedly lost track of investments and withheld premium bond prizes from the families of deceased savers. Some families had to pay lawyers to recover their money.The pensions minister, Torsten Bell, confirmed that 37,500 bereavement claims were potentially affected, with a total value of £476m. He stated that the problem had been reported to ministers in December last year and that NS&I;'s new CEO, Sir Jim Harra, would work to resolve the issue.NS&I; has apologized for the errors, stating that it had identified an issue where the estates of deceased customers were not always repaid money from all of their accounts after a bereavement claim. The bank has introduced robust measures to ensure this does not happen again.To rectify the situation, NS&I; will publish a plan in May detailing how people will be reunited with their money. The plan will confirm the number of missing payments and how the representatives of estates will be contacted. Estates may receive interest on savings as well as compensation. The government has promised that the cash is '100% safe' and that returning it will not present an additional liability to the taxpayer.

National Savings and Investments (NS&I;) is preparing to make a significant payout to customers who have been affected by a savings scandal. The bank is expected to repay hundreds of millions of pounds to approximately 37,000 people whose money was misplaced due to historical failings.The government-backed savings institution is in discussions with the Treasury to compensate these customers, with the exact amount yet to be determined. This payout would not be considered compensation but rather a reimbursement for money that customers did not receive.The scandal involves reports of bereaved families not receiving money that was rightfully theirs, as well as complaints that NS&I; failed to pay out premium bond prizes to the families of deceased savers. The bank has apologized for the poor customer service, particularly during sensitive times.The pensions minister, Torsten Bell, is expected to address the issue in a statement to the House of Commons. NS&I; holds over £100bn for around 26 million customers and is one of the largest savings organizations in the UK. The bank recently faced criticism over the spiralling cost of its modernisation programme, which has risen from £1.3bn to £3bn.A spokesperson for NS&I; said: “We recognise that dealing with bereavement can be challenging and would like to apologise to anyone who has not received the customer service from NS&I; that they should expect, particularly at such a sensitive time.”

The estate of late British tech tycoon Mike Lynch has been ordered to pay £920m to the technology company Hewlett-Packard (HP) two years after he died in a superyacht disaster.The ruling by London’s high court said the estate was liable to pay the sum as compensation, costs, and interest for HP’s acquisition of Lynch’s firm Autonomy, after a UK legal ruling in 2022 that he duped the US firm into paying £8.2bn for his software firm Autonomy.The deceased entrepreneur’s estate has been estimated to be worth about £500m, so the damages could leave it bankrupt.Lynch and six others, including his 18-year-old daughter Hannah, died in August 2024 on a trip with friends and family celebrating his acquittal on US fraud charges relating to HP’s $11bn takeover of Autonomy in 2011.HP accused Lynch and Autonomy’s former chief financial officer, Sushovan Hussain, of inflating the firm’s value before the takeover. HP wrote down Autonomy’s worth by $8.8bn (£6.5bn) within a year of the purchase.The US tech company has sought damages in UK civil proceedings of up to $4.55bn from the estate of the late tycoon, who was once hailed as Britain’s answer to Microsoft founder Bill Gates.However, the level of the claim was ruled last year by the high court to be “always exaggerated”, as it concluded that Lynch’s estate owed £700m in compensation. The £920m figure includes costs and interest.Lawyers for Lynch’s estate sought permission to appeal against Tuesday’s ruling, which was refused. However, the estate can apply directly to the court of appeal.HP welcomed Tuesday’s decision, which it said in a statement “brings us another step closer to resolution of the dispute”.A spokesperson for the Lynch family said: “We are disappointed by the court’s refusal and believe an application to the court of appeal should follow in the interests of justice. HP’s $5bn damages claim has already been shown to be vastly exaggerated.“Today’s judgment describes the exaggeration as ‘without foundation’ and the purposes for which it was ‘calibrated, publicised and pursued’ as objectionable, misleading shareholders and extending the litigation unnecessarily.“Dr Lynch’s acquittal in the US, where witnesses were properly cross-examined, exposed the truth. The damage to Autonomy was the result of HP’s own actions and failures, not wrongdoing at Autonomy.”

The WNBA has taken a major step forward with the unanimous ratification of a new collective bargaining agreement (CBA) by its board of governors. This landmark deal, which has also been approved by the players, will run through 2032 and marks a significant improvement in player compensation. Under the terms of the new agreement, the minimum salary for players will be $270,000, a substantial increase from the maximum salary of about $250,000 last season. Top players will see their earnings rise dramatically, with the supermax salary set at $1.4 million. Additionally, the salary cap for each team will be $7 million, up from $1.5 million in 2025. WNBA Commissioner Cathy Engelbert hailed the agreement as the beginning of a 'bold new era' for the league, made possible by the collaboration of players, team owners, and the broader WNBA community. The league is set to capitalize on its growing momentum as it approaches its 30th season, which will tip off in May. With the CBA in place, teams are now gearing up for the regular season starting on May 8. This includes an expansion draft for new teams Toronto and Portland, followed by free agency and the college draft on April 13. Teams will begin training camp on April 19, leaving them little time to prepare for the season.