Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
THE Financial Conduct Authority (FCA) is under fire from MPs who have raised 'serious questions' about its recent review of the debanking scandal, calling it a 'whitewash', reported the Telegraph.
The FCA on Tuesday (19) said that there is no evidence so far that Britain's banks have been closing accounts because of people's political views, though more detailed scrutiny is needed.
British finance minister Jeremy Hunt last month asked the FCA to urgently investigate terminations of bank accounts and suggested that lenders who have broken the law should be fined.
The practice, known as 'debanking' became a political issue after former Brexit Party leader Nigel Farage said his account at private bank Coutts, part of NatWest, had been closed due to his political views.
The FCA said that it looked at data from 34 banks and building societies, focusing on July 2022 to June 2023, but the speed of its inquiries meant there were some gaps, limitations and inconsistencies to information provided.
The watchdog's failure to include Nigel Farage's case at Coutts, where his account was threatened with closure due to his beliefs, has triggered controversy.
FCA officials defended their decision not to investigate Farage's case, stating that it was a 'high-profile example' being handled separately by the bank involved and that it fell outside the reporting period.
This explanation did not appease critics, who accused the FCA of conducting a superficial review.
Farage himself denounced the review as 'a whitewash and an absolute farce' and called for a complete overhaul of the FCA's leadership.
Tory MP Danny Kruger echoed these sentiments, asserting that the FCA had merely asked banks if they were guilty without actively seeking input from potential victims. He also called for a closer examination of the FCA itself.
The FCA's review did identify eight cases where the 'expression of political or any other opinions' was suspected as a reason for account closures. However, the watchdog concluded that this was not the primary reason in any of these cases. Instead, customer behaviour, including the use of racist language against staff, was the predominant factor leading to debanking.
Criticism also stemmed from the quality of the data collected during the review. The FCA admitted that some of the data supplied by institutions was unverified, and it acknowledged that as many as 20 per cent of account suspensions and closures were attributed to "Other," leaving the watchdog uncertain about the reasons behind these actions.
Nikhil Rathi, chief executive of the FCA, told the Telegraph that while no financial institution reported closing accounts primarily due to political views, further verification of bank-submitted data was necessary.
City minister Andrew Griffith acknowledged the FCA's report and emphasised the need for more robust validation of banks' submissions and a thorough follow-up on debanked customer perspectives.
While the FCA review found no evidence of political debanking, it did find that UK expats were facing the most at risk of having their accounts shut or suspended.
Separately, the FCA is reviewing how banks conduct mandatory extra checks on 'politically exposed' customers and their families for money laundering risks, with a report due by the end of June 2024.
UK becomes BYD’s biggest market outside China after record September sales
Seal U plug-in hybrid SUV drives majority of the brand’s growth
Tariff-free access gives Chinese EV maker a major edge over EU and US rivals
BYD’s record-breaking month in the UK
Chinese electric vehicle giant BYD has reported an 880% year-on-year surge in UK sales, marking its strongest performance outside China. The company sold 11,271 cars in September, with its plug-in hybrid SUV, the Seal U, accounting for most of the demand.
The sales boom comes as the UK recorded its highest-ever electric vehicle (EV) registrations, reflecting growing consumer interest and an expanding EV infrastructure. According to the Society of Motor Manufacturers and Traders (SMMT), nearly 73,000 pure battery electric vehicles were sold last month, alongside even faster growth in plug-in hybrids.
UK’s tariff-free status boosts Chinese EV makers
The UK’s appeal for Chinese automakers such as BYD lies in its tariff-free market access, a contrast to the European Union and United States, which have imposed steep levies on Chinese EV imports. In October last year, the EU announced tariffs of up to 45% on Chinese electric vehicles to protect European manufacturers from what it described as state-subsidised competition.
Chinese brands have been largely blocked from the US market due to tariffs backed by both Donald Trump and Joe Biden. This has made Britain a rare open field for Chinese electric car makers to expand aggressively.
Market share and retail expansion
BYD’s share of the UK market climbed to 3.6% in September, placing it firmly among the country’s leading EV sellers. Its Seal U model ranked in the UK’s top ten best-selling cars of the month, alongside established names such as the Kia Sportage, Ford Puma and Nissan Qashqai.
BYD’s UK general manager, Bono Ge, described the company’s prospects in Britain as “hugely exciting”, noting that the brand has just opened its 100th retail outlet. The firm plans to roll out more hybrid and electric models in the coming months to maintain its growth momentum.
Mixed picture for UK’s EV market
Despite record sales of electric and hybrid vehicles, petrol and diesel models still accounted for more than half of all new registrations in September, showing that the UK’s transition to full electrification remains in progress.
Earlier this year, the UK government introduced a £650m incentive package to boost EV adoption, offering car buyers discounts of up to £3,750 on brands such as Nissan, Peugeot and Vauxhall. However, the scheme excludes Chinese-made vehicles, citing emissions concerns linked to their production.
BYD pushes back on subsidy exclusion
BYD criticised the UK’s decision to exclude its models from the incentive programme, warning that it could distort competition and harm the wider EV market in the long run.
Even as domestic sales slow in China, BYD continues to outperform rivals globally. Its overall sales now surpass those of US electric carmaker Tesla and European brands including Jaguar and BMW, underscoring China’s growing dominance in the global electric vehicle industry.
By clicking the 'Subscribe’, you agree to receive our newsletter, marketing communications and industry
partners/sponsors sharing promotional product information via email and print communication from Garavi Gujarat
Publications Ltd and subsidiaries. You have the right to withdraw your consent at any time by clicking the
unsubscribe link in our emails. We will use your email address to personalize our communications and send you
relevant offers. Your data will be stored up to 30 days after unsubscribing.
Contact us at data@amg.biz to see how we manage and store your data.
A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England.
JAGUAR LAND ROVER (JLR) is expected to restart some production this week after a cyber-attack forced the company to suspend operations and send workers home.
Manufacturing will first resume at JLR’s engine plant in Wolverhampton, though it may take several weeks for all sites to return to full capacity, BBC reported.
Work at JLR’s three UK factories in the West Midlands and Merseyside had been halted since the late August attack, which shut down IT systems and stopped vehicle production and parts distribution.
The hack, claimed by a group calling itself Scattered Lapsus$ Hunters, is estimated to have cost the company at least £50 million a week.
The government has guaranteed a £1.5 billion loan to help JLR support its parts and service suppliers.
Some suppliers, including small firms like Genex UK, have struggled financially and laid off staff during the shutdown.
Evtec Group chairman David Roberts told the BBC the stoppage had severely affected communities in the West Midlands.
JLR said its recovery programme was “firmly under way,” with its global parts logistics centre “returning to full operations.” Experts said production will resume gradually as supply chains recover.
Keep ReadingShow less
UK trial tests power of consumers against global tech giants
Around 29 million UK smartphone users could be eligible for compensation
Which? is suing Qualcomm for allegedly inflating handset prices
The case could see a £480m payout if the consumer group wins
Consumer group takes Qualcomm to court
Millions of Apple and Samsung users across the UK may soon benefit from a £480 million compensation claim, as consumer watchdog Which? takes chipmaker Qualcomm to court over alleged anti-competitive behaviour.
The case, which opened on Monday at the Competition Appeal Tribunal in London, centres on accusations that Qualcomm charged inflated prices and licensing fees for key smartphone components, forcing manufacturers to pass on the extra costs to consumers.
Who could benefit
If Which? succeeds, around 29 million consumers who bought an Apple or Samsung handset between 1 October 2015 and 9 January 2024 could each receive an estimated £17 per phone.
The claim covers nearly a decade of smartphone purchases and is part of an effort to ensure that major corporations are held accountable for pricing practices that may have unfairly affected customers.
Allegations of market abuse
Which? alleges that Qualcomm abused its dominant market position by forcing Apple and Samsung to agree to inflated terms for chips essential to the operation of their smartphones.
The tribunal will first determine whether Qualcomm held such power and whether it misused it. If the court finds in favour of Which?, a second phase will follow to decide the size and distribution of compensation.
Qualcomm denies the claims
Qualcomm, one of the world’s largest producers of mobile processors, has rejected the allegations, calling the case “baseless”. The company has previously faced similar scrutiny, including an EU fine for antitrust violations and an unsuccessful case by the US Federal Trade Commission, which was dismissed in 2020.
A test of consumer power
Anabel Hoult, Chief Executive of Which?, described the trial as “a huge moment” for consumers:
“It shows how the power of consumers, backed by Which?, can be used to hold the biggest companies to account if they abuse their dominant position.”
With proceedings expected to last five weeks, the case could mark a major milestone for collective consumer rights in the UK and a warning to tech giants about the cost of market dominance.
Côte Restaurant Group has been acquired by the Karali Group, a family-owned franchise business led by Salim and Karim Janmohamed.
The sale comes a month after Côte’s private equity owner, Partners Group, was reported to be considering injecting new capital into the business rather than pursuing a sale, according to The Caterer.
Discussions over a potential sale began during the summer when advisers were appointed to explore future options for the casual dining brand.
Following the acquisition, Côte chief executive Emma Dinnis said: “I am proud to have led the brilliant Côte team to a sale that is a huge positive for all involved. The sector continues to face challenges, but with the strength of our people and a clear vision, I’m confident we’ll ensure Côte remains everyone’s favourite brasserie. With a delicious new menu amplifying what we do best and exciting plans for the future, we will continue to transform and grow this brand.”
Karim and Salim Janmohamed said, as reported by The Caterer: “We have long admired the much-loved Côte Brasserie and are thrilled to welcome this fantastic brand into our growing portfolio. We are looking forward to working with both management and the broader team on the exciting plans for the brand and welcome them all individually to the Karali family. We extend our gratitude to our trusted advisors from Freeths and PKF Smith Cooper.”
Karali Group operates across the quick-service restaurant, casual dining and café sectors.
It was previously the largest UK franchisee of Burger King before exiting all 74 sites in 2022. Last year, it became the UK’s largest Taco Bell operator after purchasing 46 restaurants from a single franchisee.
Keep ReadingShow less
Starmer and Modi shake hands during a bilateral meeting in the sidelines of the G20 summit at the Museum of Modern Art in Rio de Janeiro, Brazil Brazil, on November 18, 2024. (Photo: Getty Images)
Keir Starmer to visit India on October 8-9 for first official trip as prime minister.
Starmer and Modi to review India-UK Comprehensive Strategic Partnership and roadmap ‘Vision 2035’.
Leaders to discuss trade, technology, defence, climate, and economic cooperation under CETA.
Visit follows Modi’s July 2025 UK trip where India and UK signed free trade agreement.
PRIME MINISTER Keir Starmer will make his first official visit to India on October 8-9 at the invitation of prime minister Narendra Modi, the Ministry of External Affairs (MEA) announced on Saturday.
The MEA said that on October 9 in Mumbai, the two prime ministers will review progress in various areas of the India-UK Comprehensive Strategic Partnership in line with ‘Vision 2035’.
The 10-year roadmap focuses on key areas including trade and investment, technology and innovation, defence and security, climate and energy, health, education, and people-to-people relations.
Both leaders will also meet business and industry representatives to discuss opportunities under the India-UK Comprehensive Economic and Trade Agreement (CETA), described by MEA as a central pillar of the future India-UK economic partnership. The ministry said Starmer and Modi “will also exchange views on issues of regional and global importance.”
The two prime ministers will attend the sixth edition of the Global Fintech Fest in Mumbai and deliver keynote addresses. They will also engage with industry experts, policymakers, and innovators.
The visit will build on the momentum generated by Prime Minister Modi’s visit to the UK on July 23-24, 2025, and will provide an opportunity to reaffirm the shared vision of India and the United Kingdom to build a forward-looking partnership, according to MEA.
Britain and India signed a free trade agreement in July during Modi’s visit to the UK.
The deal, signed in the presence of Modi and Starmer, aims to reduce tariffs on goods such as textiles, whisky, and cars, and expand market access for businesses.
The agreement was officially signed by India’s minister of commerce and industry, Piyush Goyal, and the UK secretary of state for business and trade, Jonathan Reynolds, India's Ministry of Fisheries, Animal Husbandry & Dairying said in a release.
CETA provides zero-duty access on 99 per cent of tariff lines and opens up several key service sectors.
For the marine sector, the agreement removes import tariffs on a range of seafood products, enhancing the competitiveness of Indian exporters in the UK market.
The agreement is expected to benefit exports of shrimp, frozen fish, and value-added marine products, along with labour-intensive sectors such as textiles, leather, and gems and jewellery.
India’s main seafood exports to the UK include Vannamei shrimp (Litopenaeus vannamei), frozen squid, lobsters, frozen pomfret, and black tiger shrimp. These products are expected to gain further market share under CETA’s duty-free access.
Under the agreement, all fish and fisheries commodities listed under the UK tariff schedule categories marked ‘A’ now enjoy 100 per cent duty-free access from the date the agreement comes into force.