Around 30 million car finance loans are under scrutiny by the City watchdog to see if they qualify for mis-selling compensation payments, according to its chief executive, the Telegraph reported. On Tuesday, Nikhil Rathi, the Financial Conduct Authority (FCA) chief executive, said the agency was examining the agreements – which were taken out between 2007 and 2020 – to see if they were mis-sold by banks and qualify for the FCA’s mass redress scheme.

The number of new businesses launched in Yorkshire and the Humber fell in August, but insolvency-related activity also declined, according to research by restructuring, turnaround and insolvency trade body R3, InsiderMedia.com reported. The latest figures, based on data from Creditsafe, show that business start-ups across Yorkshire and the Humber dropped by 11.3 per cent in August compared to July, falling from 4,728 to 4,192. The region mirrored a national picture of declining start-up activity.

This past week, U.K. long-term borrowing costs hit their highest level in decades, causing Treasury chief Rachel Reeves to shoot down suggestions that the heavily indebted country is heading for a fiscal crisis, the Wall Street Journal reported. Most economists agree with her—for now. But in a world where industrialized nations have taken on record amounts of debt and are paying ever more to finance the borrowing, the U.K. could become the financial markets’ equivalent of the proverbial canary in the coal mine—a leading indicator of trouble for other debtors like the U.S.

Ghislaine Maxwell’s brother is scrambling to stave off bankruptcy over debts owed to a collapsed “Ponzi scheme,” The Telegraph reported. Kevin Maxwell has launched a last-ditch legal claim to prevent administrators of Fortress Capital Partners chasing him for almost £600,000. The British businessman applied to the High Court last week to dismiss an ultimatum from the insolvency experts overseeing the collapsed fund. He is threatened with bankruptcy if he fails to repay the money.

The government will pursue "every option" to keep steel-making in South Yorkshire, an industry minister said after Speciality Steel UK went into insolvency last month, BBC.com reported. Sarah Jones said she "very much believes" that the steelworks have a future in South Yorkshire as well as the West Midlands. In a statement to the House of Commons, Jones said that the government "stands with" all those affected and that there would be no immediate changes to jobs.

Britain’s borrowing costs have risen faster than any other G7 country in the wake of Sir Keir Starmer’s decision to reshuffle his team of economic advisers, The Telegraph reported. The yield on 30-year UK gilts – the return that investors demand from the Treasury to fund its debt – rose to a 27-year high of 5.64pc on Monday. The latest increase came after the Prime Minister appointed Darren Jones, who had been deputy to Rachel Reeves in the Treasury, as his Chief Secretary.

The U.K. exchequer is chasing about £90m in unpaid taxes after a temporary staffing business was rescued from insolvency proceedings in an £18m deal that reimbursed private funders in full, The Guardian reported. The main assets of Challenge Recruitment Group, which counted Tesco, Sainsbury’s and Co-op among its top customers, were acquired from administration in July by the US website swipejobs, in what appears to be the second time the British staffing business has emerged from insolvency while owing tens of millions of pounds to the exchequer.

One of the UK’s biggest suppliers of mobility aids has sold its product sales arm after collapsing into insolvency, PAMedia reported. Mobilitas Group has acquired the division from NRS Healthcare, also known as Nottingham Rehab, which collapsed after efforts to secure a buyer were unsuccessful. The acquisition will include a group of more than 13,000 products, from basic daily living aids to complex assistive technologies, as well as a team of specialist staff. A court appointed a liquidator to wind up NRS Healthcare earlier this month.

After a year-long hiatus, a parliamentary group in the UK is working to bring cryptocurrency back to the forefront of the legislative process, DLNews reported. New co-chairs of the All-Party Parliamentary Group for Crypto and Digital Assets — Gurinder Singh Josan and Edward Vaizey — are urging lawmakers to establish clear rules of the road. Singh Josan, a Labour Party backbencher, warns that the government’s failure to pass meaningful legislation risks pushing businesses to more welcoming jurisdictions.