July 30, 2020 / 1:16 AM / 15 days ago

PRESS DIGEST-Financial Times - July 30

July 30 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- UK car production falls 42% to lowest level since 1954 on.ft.com/3jUgcRG

- Scholz defends handling of Wirecard debacle at Bundestag grilling on.ft.com/2BKiDoE

- FCA orders finance firms to protect 24m vulnerable customers on.ft.com/3369Jgj

Overview

- UK car manufacturing fell by 42% to 381,000 vehicles in the first half of the year to the lowest level since 1954, caused by an industry-wide shutdown during March and April due to coronavirus pandemic and weak customer demand since then, according to figures from the Society of Motor Manufacturers and Traders released on Thursday.

- Germany’s finance minister Olaf Scholz defended his handling of the Wirecard scandal in closed-door hearings in the Bundestag on Wednesday, as members called for full inquiry despite his insistence that authorities had done all in their power to uncover irregularities at the disgraced payments company.

- Britain’s Financial Conduct Authority has ordered firms to do more to protect vulnerable customers and published draft guidance setting out how firms should treat customers facing financial, health or other difficulties that make it harder for them to keep up with repayments.

Compiled by Bengaluru newsroom

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