UK News: Specialist lender’s shares plunge after short seller claims it will have to raise provision for car finance scandal
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The UK banking group Close Brothers is to cut about 600 jobs and roll out the use of AI “at pace” after posting further losses amid a mounting compensation bill for the UK motor finance scandal.
The specialist lender said the cuts – nearly a quarter of its 2,600-strong workforce – would be made over the next 18 months across its teams in the UK and Ireland. Continue reading…
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