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Specialist lender says it expects its slice of £9.1bn compensation set by FCA to be about £320mClose Brothers shares surged on Wednesday after the UK bank declared it could “comfortably absorb” its slice of a £9.1bn compensation bill over the motor finance scandal, hours after one of its rivals announced it was selling its UK operations over looming costs.The specialist lender said it expected the final terms of the Financial Conduct Authority’s (FCA) compensation scheme to cost roughly £320m, a sum that is “broadly similar” to previous estimates and the £294m put aside to date. Continue reading...

• Rates of US adults skipping needed care due to unaffordable costs rose to 12.4% in 2024, up from declines seen 2019-2021. • Forgone care varies by state, insurance type, and chronic disease status, exacerbating health disparities nationwide. • Gallup polls identify healthcare costs as the top health issue, surpassing access and obesity concerns for Americans.

• A Gallup poll reveals 61% of Americans are 'extremely' or 'very' concerned about rising healthcare costs and insurance premiums, now topping all other domestic issues. • Concern spans parties: 89% of Democrats, 80% of independents, and 72% of Republicans express high worry over healthcare affordability. • The finding surpasses fears about the economy or inflation, highlighting healthcare as a unifying voter priority ahead of elections.

• US healthcare costs for employers are forecasted to increase more than 9% in 2026, driven by regulatory changes, labor shortages, and rising demand. • Growing use of specialty drugs, particularly GLP-1 medications for weight loss and diabetes, significantly contributes to the cost surge. • Businesses face pressure to redesign benefits packages amid these economic pressures on public health spending.

• The share of Affordable Care Act customers in plans exceeding $6,000 yearly doubled following expiration of Covid-era assistance, signaling household budget pressures. • US Centers for Medicare and Medicaid Services data shows 2026 enrollment fell 5% to 23.1 million, with further drops expected from premium non-payers. • This cost surge underscores ongoing affordability challenges in the Obamacare marketplace post-subsidy end.

• A new analysis identifies Louisiana and Kentucky as among the most stressed US states in 2026, with stress levels significantly influenced by geographic factors. • Rising healthcare costs are forcing residents to skip medical care, contributing to elevated stress levels across affected regions. • The stress disparities highlight how healthcare affordability challenges vary by state, with geographic and economic factors playing key roles in residents' wellbeing and access to care.

• Patients and providers in Colorado reported rising health care costs due to Trump administration policies including H.R.1 Medicaid requirements and ended ACA tax credits, discussed at a March 25 virtual roundtable with Sen. John Hickenlooper. • Nearly 250,000 Coloradans risk losing Medicaid coverage, exacerbating rural health care deserts where 82% of hospitals operate on unsustainable margins, per Craig Memorial Regional Health CEO Jennifer Riley. • Uninsured patients will seek emergency care at the highest cost level, straining providers and worsening access, especially for women's health services.

• A new report reveals that rising healthcare costs are forcing approximately 1 in 3 US adults to reduce basic spending on essentials like utilities, transportation, and prescription medications. • The financial strain is most severe among uninsured Americans, with about 62% reporting they have made trade-offs to afford medical costs, while nearly 3 in 10 insured Americans also report cutting back. • The impact spans income levels: approximately half of households earning $48,000 to $180,000 have delayed major life decisions because of healthcare costs, and one-third of those earning $180,000 to $240,000 report similar delays.

Specialist lender’s shares plunge after short seller claims it will have to raise provision for compensation Business live – latest updatesThe banking group Close Brothers is to cut about 600 jobs and roll out the use of AI “at pace” after posting further losses in the face of a mounting compensation bill for the 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...