The shares of Transaction Capital, owner of WeBuyCars and a taxi finance business, are down more than 88% from their high, falling more than 16% on Tuesday after the company said headline losses to end-September will be far greater than previously predicted.

In March, the group said headline losses for the full year would exceed 157.7c a share or fall by as much as 172%. It is now projecting an even worse performance as many taxi owners have not repaid vehicle loans...

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