The Wall Street Journal

U.K. Bank Shares Rise After Car-Loan Ruling Softens Industry Blow

Lloyds Banking Group, Close Brothers, Vanquis Banking Group among the risers

Lloyds Banking Group was among the big gainers at market open on Monday.
Lloyds Banking Group was among the big gainers at market open on Monday. Photo: Agence France-Presse/Getty Image

Shares in U.K. lenders exposed to a probe into commissions on car loans traded higher after the country’s Supreme Court overturned most of a landmark ruling, reducing the estimated costs of a looming compensation program.

The stocks of Lloyds Banking Group and Close Brothers among others jumped at market open on Monday as investors breathed a sigh of relief. The decision narrows the potential range of a redress program on motor-finance claims, allowing the exposed firms, which had been bracing for potential payouts running in the tens of billions of pounds, to avoid a worst-case scenario.

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For a Few CEOs, Pay Keeps Growing—by the BillionsExternal link

For a Few CEOs, Pay Keeps Growing—by the Billions