Wednesday newspaper round-up: Boohoo, electric cars, Atom Bank

A promotion by the fast-fashion retailer Boohoo that used “sexually suggestive” images of a model in an oversized T-shirt and thong-style bikini bottoms has been banned by the UK advertising watchdog for objectifying and sexualising women. The online retailer used several images of the model, including a shot taken from the rear of her kneeling and another of her sitting with her legs apart, which prompted a complaint to the Advertising Standards Authority (ASA) that the promotion was offensive, harmful and irresponsible. – Guardian
The UK car industry has warned of a “growing regional divide” in the provision of electric car chargers, as it called for a new regulator to oversee legally binding targets for charger installation. The number of publicly available chargers has not grown fast enough to keep up with the soaring number of battery-powered electric cars on British roads, according to the Society of Motor Manufacturers and Traders (SMMT), a lobby group. Public charger numbers rose by 82% between 2019 and 2021, but this pales in comparison with the 600% jump in the number of electric cars during the same period. – Guardian

The average asking price for a used car has broken through £20,000 for the first time, as the microchip shortage squeezes supplies of new vehicles. The figure has risen by more than £4,000 in just six months, to £20,340, up 29pc from a year ago, according to Auto Trader. The latest gain marks the 93rd consecutive week of increases as buyers fight over a limited supply of used stock and the number of new cars being made has fallen to a 65-year low in the UK. – Telegraph

The Financial Conduct Authority faces pressure to pay more compensation to the victims of the London Capital & Finance scandal after an independent commissioner dismissed the watchdog’s approach as flawed. In an embarrassing blow to the FCA, the Financial Regulators Complaints Commissioner has recommended it changes the way it has calculated compensation, withdraws its previous decisions on London Capital & Finance and reruns the process. – The Times

Atom Bank has been valued at £435 million in what is likely to be the digital lender’s last fundraising round before it attempts a listing on the stock exchange. The Durham-based company has raised £75 million from its two biggest shareholders – BBVA, the Spanish banking group, and Toscafund, the British investment manager – and has opened the round to its other existing investors. The bank is moving into profitability and is looking at an initial public offering, which Mark Mullen, its chief executive, said was likely next year. – The Times

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