6:50 am, April 21, 2026
Fresh uncertainty over US-Iran war sends oil price back up
Oil prices rose on Monday after the US seizure of an Iranian cargo ship threw the peace process into chaos.
Hopes of a breakthrough and the full reopening of the Strait of Hormuz, the crucial oil and gas shipping route, have receded following the US attack on the Touska.
The prolonged uncertainty, with the US-Iran ceasefire due to end on Wednesday, is likely to further impact households in the UK facing higher petrol and diesel costs at fuel pumps now and the prospect of rising energy bills later in the year.
UK to narrowly avoid recession and jobless rate to surge, Item Club warns
Britain is to ‘flirt’ with recession and unemployment will be sent soaring amid the fallout of the Iran war, according to economic forecasters.
The latest Item Club report predicts the economy will flatline in the second and third quarters, which will leave gross domestic product (GDP) rising by 0.7% over the year as a whole, down from 1.4% expansion in 2025.
While the economy will ‘flirt with recession’ – defined as two quarters or more in a row of falling GDP – it will also see higher oil and energy prices weigh on activity and the jobs market suffer its ‘biggest hit since the pandemic’, the Item Club warned.
Mercedes electric C-Class breaks cover with 473-mile range
Mercedes has revealed its answer to the new BMW i3 with the electric C-Class.
The C-Class is one of the marque’s best-selling models and the electric iteration broadens its appeal further.
The electric C-Class will be equipped with a 94kWh battery pack and an electric motor that can return a claimed range of up to 473 miles on a single charge. Mercedes says that the car will benefit from 800-volt architecture, which will enable ultra-rapid charging speeds of up to 300kW, allowing 202 miles of range to be added in just 10 minutes.
FTSE 100 falls back amid renewed US-Iran tension
The FTSE 100 started the week on the back foot on Monday as hopes for a peace deal in the Middle East once more hung in the balance.
The FTSE 100 closed down 58.55 points, 0.6%, at 10,609.08. The FTSE 250 ended 265.71 points lower, 1.2%, at 22,940.21, and the AIM All-Share fell 1.77 points, 0.2%, to 808.34.
In European equities on Monday, the CAC 40 in Paris ended down 1.1%, and the DAX 40 in Frankfurt fell 1.2%.
MPs will have the opportunity to scrutinise the Government’s accountability in relation to the appointment of Lord Peter Mandelson as US ambassador in an emergency debate on Tuesday.
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Culloden Cars boss reveals the secret tricks to selling second-hand Teslas
Inverness dealer Craig Walker of Culloden Cars says used Tesla models ‘fly out the door’ despite wider scepticism. He stressed product knowledge is key, highlighting build differences, features and specs as crucial to matching the right car to the right customer and maximising desirability.
New EV discounting risks undermining used car market, manufacturer bosses warn
Executives from Suzuki, Dacia and XPeng warn heavy EV discounting to meet ZEV targets is harming residual values, distorting markets, raising finance costs and potentially slowing long-term electric vehicle adoption.
Car dealer Hendy extends Hampshire Cricket sponsorship as partnership enters 15th year
Car dealer Hendy Group has extended its sponsorship of Hampshire Cricket until 2027. The renewed deal includes shirt branding, stadium presence at Utilita Bowl and fan engagement activities during matches.
Keir Starmer to face further scrutiny over Peter Mandelson in emergency debate
MPs will have the opportunity to scrutinise the Government’s accountability in relation to the appointment of Lord Peter Mandelson as US ambassador in an emergency debate later today.
Sir Keir Starmer has blamed former top civil servant Sir Olly Robbins for deliberately keeping him in the dark over Lord Mandelson’s failure to pass security vetting checks before taking the role.
The Prime Minister told the Commons he would not have appointed Lord Mandelson if he had known the peer had failed the checks and insisted there was no pressure from No 10 to push through the high-profile appointment.
Heathrow Airport can recover up to £320m in early expansion costs – regulator
Heathrow Airport can recover up to £320 million of early costs linked to its expansion plans, the industry regulator has said.
The UK Civil Aviation Authority also confirmed that a rival bidder for Heathrow’s third runway could recover some costs linked to its plans.
Last year, the aviation watchdog launched a consultation on the regulatory treatment of early costs of Heathrow expansion.
Weather outlook
The UK will today see a calm and fairly mild spring day overall.
In the south, cloud will clear to sunny spells with temperatures around 13 °C. The Midlands will be partly cloudy but mostly dry.
In northern England and Scotland, it will stay cooler with more cloud and occasional brightness, with highs near 9–11 °C.
