Business
Lloyds earnings slide by 36% after motor finance hit

Lloyds Banking Group has reported a 36% drop in its earnings for the third quarter as it felt the impact of an extra £800 million charge to compensate customers unfairly sold a car loan.
The bank reported a pre-tax profit of £1.2 billion between July and September.
This was more than a third lower than the £1.8 billion made over the same period last year, although it came in above the £1 billion profit that most analysts were expecting.
The group’s latest results take into account it setting aside more money to cover potential costs related to the UK regulator’s motor finance compensation scheme.
It took an additional £800 million charge over the third quarter, bringing its total compensation bill to an estimated £1.95 billion.
The Financial Conduct Authority (FCA) published proposals for a redress scheme after finding that payouts are due on around 14 million unfair car finance deals.
It calculated that each payout could average at about £700 per deal.
Lloyds’ finance chief William Chalmers said the bank was “concerned” about the watchdog’s proposed scheme which it thinks is “disproportionate” to the actual level of harm caused to consumers.
“We do think the proposals, as they stand right now, risk producing an anomalous outcome for customers, which is not a sensible place to be,” he said.
Mr Chalmers said the bank was hoping to have a “constructive dialogue” with the FCA and refused to say whether or not it could proceed with a potential legal challenge.
Lloyds said its lending has grown over 2025, including mortgages, credit cards and motor finance – with loans increasing by 4% across the first nine months of the year.
Current account and savings account balances also grew this year as its customers spent less and saved more.
Mr Chalmers said the trend reflected wage growth boosting its customers’ balances, as well as “patterns of probably slightly lower spend than previously”.
Chief executive Charlie Nunn said: “The group continues to perform well, demonstrating robust financial performance alongside strategic progress, including our recent acquisition of Schroders Personal Wealth.”
Mr Nunn said the bank benefited from income growth and cost savings “despite the impact of the additional motor finance charge in the third quarter”.
Business
Assaults on rail network more than triple in 10 years

The number of reported passenger assaults on the rail network has more than tripled in the past 10 years, according to official figures.
Between April 2024 and March 2025 found there were 10,231 reported assaults, up 7% on the year before, the Office of Rail and Road’s annual report into health and safety found.
Ten years ago, there were 3,211 reported assaults, including harassment and common assaults.
The increase coincides with a drive by British Transport Police to encourage the public to report a wide range of potential concerns on the rail network.
Its “See It. Say It. Sorted.” campaign was launched in 2016 and then relaunched last year, encouraging the public to report “anything unusual”, either to station staff or to British Transport Police.
In 2022, it launched its ‘Speak Up, Interrupt’ campaign to encourage anyone who witnesses inappropriate sexual behaviour “to report incidents or safely intervene where they can”.
Across the mainline rail network, harassment and common assault made up more than three quarters of the total assaults, and both of these categories saw an increase.
This trend was mirrored on the London Underground, where reported assaults reached their highest level since the data series began in 2004, up to just over 4,600.
Of those reported incidents, harassment and common assault counting for more than 80% of the total.
In the financial year from April 2024 in the report to March 2025, passengers took 1.7 billion journeys on the mainline railway.
In that period, 14 members of the public died on the mainline network and the London Underground (not counting suicides and trespass-related incidents).
There were also two deaths of workers on the rail network – one after being assaulted at a station, and the other resulting from a fall.
The number of suicides across the rail network were also at their highest level since 2002.
Across the mainline network, there were 368 suicides or suspected suicide attempts, resulting in 293 fatalities.
Thursday’s report found injuries to members of the public and workers have also been creeping back towards pre-pandemic highs.
Recording just over 11,472 injuries, this marked the fourth yearly increase in a row, but was still below level reported in 2019-20.
Of these injuries, the vast majority – almost 80% – were non-severe.
The ORR divides up the information it reports between the mainline rail network, non-mainline (which includes services through the Channel Tunnel, as well as trams and light rail), and the London Underground.
- If you, or someone you know, has been affected by mental health issues BBC Action Line has put together a list of organisations which can help.
Business
Don’t Panic! You Can Still Fix Errors In Your ITR With Updated Return For AY 2025-26– Here’s How

New Delhi: If you’ve made an error or missed out on some details while filing your Income Tax Return (ITR) for Assessment Year 2025-26, there’s no need to panic. The Income Tax Department gives you a second chance through the updated return option, allowing you to revise or correct your ITR even after submission — and the best part is, you have up to 48 months from the end of the financial year to do so.
Till when can you file an updated ITR for Assessment Year 2025-26?
For Assessment Year 2025-26, taxpayers have time till March 31, 2030, to file an updated return. This extended window encourages voluntary compliance by giving individuals enough time to review and correct any mistakes in their ITR filings.
Understanding the Updated Return
An updated return is a special type of Income Tax Return (ITR) that allows taxpayers extra time to correct or update their earlier filings. It’s a move by the Income Tax Department to promote voluntary compliance, giving individuals the chance to fix any mistakes or add missed information even after the original deadline.
Anyone can file an updated return—whether or not they have already filed an original, belated, or revised return for that assessment year—except in a few specific cases.
While filing an updated return, taxpayers need to provide certain details such as:
– Basic information like PAN, name, and Aadhaar.
– Details of the earlier return, if any—such as the section, ITR form, acknowledgement number, and filing date.
– Confirmation of eligibility to file an updated return.
– The ITR form chosen for the updated return.
– The reason for filing the updated return.
When You’re Not Allowed to File an Updated Return
While the updated return offers flexibility, there are certain situations where you cannot file one. For instance, if your total income results in a loss or if filing it would reduce your tax liability compared to your earlier return, you won’t be eligible to submit an updated return.
It’s also important to note that an updated return can be filed only once for a particular assessment year — it cannot be revised later.
Additionally, you cannot file an updated return for the assessment year in which a search or survey has been conducted under Section 132, or for any year before that assessment year.
Business
Scindia Meets FM Sitharaman To Boost Digital Infra, Regional Connectivity

New Delhi: Union Minister Jyotiraditya Scindia on Thursday had a detailed discussion with Finance Minister Nirmala Sitharaman and senior ministry officials, exploring strategies to accelerate digital infrastructure development and regional connectivity.
The discussions centred around the capex priorities for Department of Telecommunications (DoT), the Ministry of Development of Northeastern Region and India Post Office.
“Had a constructive discussion with Finance Minister and senior officials of Finance Ministry on the Capex priorities for @DoT_India, @MDoNER_India, and @IndiaPostOffice,” Scindia posted on X social media platform.
“We explored strategies to accelerate digital infrastructure development, enhance regional connectivity, and modernise services with an optimising resource allocation and stronger impact,” the minister added.
He further stated that “our shared goal remains clear – to strengthen these vital sectors as engines of growth and innovation, and to advance a truly inclusive, digitally empowered and Aatmanirbhar Bharat”.
Last week, Scindia highlighted that the ministry’s expenditure on projects in northeast had touched an all-time high of Rs 3,447.71 crore in FY 2024–25 — marking a 74.4 per cent increase over the previous year and more than 200 per cent growth in three years. This performance, he noted, reflects the emphasis of the Ministry of Development of Northeastern Region (MDoNER) on fiscal discipline, digital monitoring, and timely delivery.
Meanwhile, India’s telecom sector is poised to increase its contribution to the country’s GDP from the current 12-14 per cent to 20 per cent over the next 10 to 12 years. India has developed an indigenous 4G technology stack, making it the fifth country globally to achieve this capability. The development was completed in a record 20 months, from concept to a full 4G stack.
The minister added that BSNL will expand its 4G network and eventually upgrade it to 5G. India now has 1.2 billion mobile subscribers, representing 20 per cent of the world’s mobile population.
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