Big investment return promises could see people losing all their money – FCA Some online adverts offering high-return investments may appear simple and safe but could potentially end up with people losing all the money they put in, the City regulator has warned. The Financial Conduct Authority (FCA) has highlighted the risks of investing in loan notes and mini-bonds issued by unregulated companies, after continuing to see people lose money. A loan note or mini-bond usually involves lending money to a company for a set period in return for interest. If that company fails, consumers could lose every penny, the regulator said. Boohoo fined £2m by French consumer watchdog over false discounts Fast fashion firm Boohoo has been fined 2.3 million euros (£2m) by the French consumer watchdog over misleading pricing practices. The Directorate-General for Competition, Consumer Affairs and Fraud Control (DGCCRF) said Boohoo – part of the recently rebranded Debenhams Group, which is listed in London – had given shoppers a false impression about the discounts being offered on the French version of its website. Manchester-based Boohoo did not take account of previously applied promotions, or even increased prices before applying a discount, according to the DGCCRF. Tesla’s Semi truck to go on sale in Europe Tesla’s battery-powered Semi truck is expected to go on sale in Europe nearly a decade after it was first revealed. Announced via X, the Tesla Semi account said ‘specs & launch details for Semi in Europe to be unveiled at IAA Transportation in Hannover, Germany.’ Originally unveiled in November 2017, the Tesla Semi has been designed to revolutionise the heavy goods vehicle industry by delivering the long ranges required by the industry. The markets The FTSE 100 struggled for direction on Thursday, closing little changed, with miners and oil stocks providing support and balancing a hefty fall in JD Sports Fashion after a profit warning. The FTSE 100 index closed up just 4.81 points at 10,748.16. The FTSE 250 ended down 134.86 points, 0.6%, at 24,508.66, and the AIM All-Share closed up 2.55 points, 0.3%, at 804.09. In Europe equities on Thursday, the Cac 40 in Paris closed down 0.6%, while the Dax 40 in Frankfurt declined 0.4%. Thursday on Car Dealer Listers Group profits fall 15% as agency switch hits £1.3bn turnover Listers’ pre-tax profits fell almost 15% to £12.7m as agency sales contributed to a 2.5% turnover decline. However, gross profit held steady at £197.4m and margins improved, helped by stronger aftersales performance and agency sales. Car dealer City West Country slumps to £6m loss amid ‘challenging trading environment’ City West Country slumped to a £6.1m pre-tax loss in 2025 as turnover plunged 27% to £160.2m. Directors blamed Mercedes’ agency model, economic pressures and industry changes, although a £7.65m exceptional provision heavily affected results. Excluding it, the group made a £1.63m operating profit. MG ZS is August’s fastest-selling used car as EVs dominate and Minis struggle The MG ZS Hybrid is August’s fastest-selling used car, taking just 13.5 days to sell, according to Autotrader. EVs dominate the rankings, accounting for six of the top 10, while three-to-five-year-old electric cars are the fastest-selling segment at 20 days. Cazoo poaches Motorway exec Brook Bishop as it continues to build top team Cazoo has appointed former Motorway executive Brook Bishop as chief commercial officer, with the experienced automotive executive joining as the marketplace continues to build its senior leadership team. Bishop will oversee revenue, commercial operations and partnerships as Cazoo targets further growth. Autoguard Group turnover jumps to £27m as international revenues more than double Autoguard Group has reported a 36% rise in turnover to £27m, with international revenue more than doubling and its direct-to-consumer division growing by over 200%. Pre-tax profit also rose to £1.7m, while the warranty provider expanded into Asia-Pacific and increased its workforce by 22%. Skoda cuts ties with Hendy Group leaving car dealership facing ‘imminent’ closure Hendy is set to close its Skoda dealership in Salisbury after the manufacturer decided to end its relationship with the dealer group. The Old Sarum site will reportedly be replaced by Renault and Dacia, leaving Skoda customers facing a 25-mile trip to Southampton or Winchester. Chinese carmaker Chery opens new UK R&D centre as part of ‘long-term’ growth plan Chery is to open a new UK R&D centre at UTAC Millbrook this autumn as part of its long-term expansion plans. The facility will focus on chassis, ADAS and UK-specific vehicle tuning, with Chery able to use 43 miles of test track at the Bedfordshire site. Investigation exposes how collapsed car finance litigation funder raised more than £300m A new investigation has revealed that collapsed litigation funder Woodville Consultants raised more than £300m from investors despite an FCA intervention. The company continued fundraising, while promoters could earn commissions of up to 15%, as administrators investigate the failed business and investors’ losses. Consultation considers if Scottish EV targets still ‘practical and achievable’ Drivers and car manufacturers in Scotland are being asked for their views on targets to phase out the sale of new petrol and diesel vehicles, as Holyrood ministers consider if these are ‘practical and achievable’. All four Home Nations are now consulting on the ZEV mandate, looking at whether the targets remain appropriate. The Scottish consultation runs until October 23, and Transport Secretary Stephen Flynn said: ‘We are committed to a transition to a decarbonised transport system that contributes to our climate obligations, reduces the cost of living and recognises the important role played by the automotive and electric vehicle charging industries to the Scottish economy. Meta glasses banned by ‘many’ cinemas amid piracy concerns Many cinemas are banning or restricting the use of Meta glasses due to privacy and piracy concerns, an industry group has said. Cinemas have become the latest industry to clamp down on use of the smart glasses after action from pub operators and theatres in recent weeks. The UK Cinema Association (UKCA) said many venues are currently looking into their policies around smart glasses. Weather outlook Northern England and Scotland will be mostly cloudy with scattered showers, while Northern Ireland sees similar conditions. Wales and the Midlands should have sunny spells but some afternoon showers, with southern England largely dry and brighter. Overall, today will be cooler, breezy and unsettled, with temperatures around 17-19°C. Nominate yourself for a Used Car Award Join our breaking news WhatsApp group Sign up for daily email Car Dealer news bulletins Listen to the latest Car Dealer Podcast Read the latest digital issue of Car Dealer Magazine The post Aug 21: FCA fires warning; Scottish ZEV mandate consultation; Tesla Semi Truck appeared first on Car Dealer Magazine.
