S&U shares up despite market challenges and legal headwinds [Yahoo! Finance]
CLOSE BROS GRP UNSP/ADR (CBGPY)
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Source: Yahoo! Finance
finance market and declining consumer and business confidence following the UK Budget, according to a report by Alliance News. The specialist lender, which provides car finance through its Advantage Finance division, noted that trading conditions in the first half of its financial year had been "burdened" by a recent Court of Appeal ruling. The court found it unlawful for car dealers to accept commissions from lenders without adequately disclosing such arrangements to customers. S&U described the ruling as imposing a "new, but retrospective, duty of care on lenders and brokers throughout the sector." It said the decision had created "chaotic market conditions," with some lenders halting operations entirely. This disruption contributed to a 33% year-on-year drop in lending advances. The company added that the situation was compounded by the government's latest Budget, which it claimed had pushed consumer and business confidence to a four-year low. S&U said these factors had dampe
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