Financial Highlights: Major Fines, Rejected Sales, and G7 Loans

The Financial Times reports key stories including the UK fining Volkswagen Finance for unfair customer treatment, Nigeria rejecting Shell's $1.3 billion sale, and the UK's $3 billion contribution to a G7 loan for Ukraine. Additionally, UK labor reforms may cost businesses £5 billion annually.

The UK regulator has fined Volkswagen Finance £5.4 million for unfair practices toward struggling customers. This penalty highlights ongoing scrutiny within the European financial industry.

Nigeria's rejection of Shell's $1.3 billion sale of its onshore production unit marks a significant hurdle for the oil giant, complicating plans to exit the volatile Niger Delta.

The UK's $3 billion pledge towards a G7 loan for Ukraine is part of a $50 billion package, to be partly funded by profits from frozen Russian assets. Meanwhile, labor reforms may cost UK businesses an estimated £5 billion annually, posing potential challenges for the corporate sector.

(With inputs from agencies.)