6:31 am, April 30, 2026
Bank of England poised to hold interest rates steady despite inflation rise
The Bank of England is poised to keep interest rates on hold as policymakers opt for a cautious approach while weighing up the impact of war in the Middle East on the cost of living.
But experts have said an interest rate increase could remain on the horizon if the conflict continues to put pressure on UK inflation.
Most economists are expecting the Bank’s nine-member Monetary Policy Committee (MPC) to keep rates at 3.75% at the next decision, which will be announced on Thursday at midday.
Santander UK takes profit hit from further costs of motor finance scandal
Santander UK has seen profits slump by 44% at the start of the year after it set aside nearly another £180m for the motor finance mis-selling scandal.
The high street lending giant reported pre-tax profits of £202m for the first quarter, down from £358m a year ago.
Profits were knocked by an extra £179m provision for motor finance compensation and increased costs in the first quarter, which brings its expected total bill so far for the saga to £633m.
Range Rover boasts even more tech and luxury with flagship ‘SV Ultra’
Land Rover has revealed a new flagship variant of the Range Rover with the ‘SV Ultra’.
The SV Ultra can be ordered in several paint colours, with a Titan Silver finish made exclusively for this new range-topper. Other details include 23-inch wheels and the world’s first ‘Electrostatic Sound System’.
Engine choices are the P550e plug-in hybrid and the P540 4.4-litre V8 petrol. Orders for the Range Rover SV Ultra will be by invitation only.
The markets
The FTSE 100 closed lower on Wednesday, held back by falls for drugs firms GSK and AstraZeneca, while oil surged amid reports that the US is eyeing a longer blockade of the Strait of Hormuz.
The FTSE 100 closed down 119.68 points, 1.2%, at 10,213.11. The FTSE 250 ended down 198.55 points, 0.9%, at 22,200.87, but the AIM All-Share rose 1.53 points, 0.2%, at 788.43.
The pound eased to 1.3491 dollars on Wednesday afternoon from 1.3505 on Tuesday. Against the euro, sterling ebbed to 1.1530 euros from 1.1534.
Ministers under pressure to act on antisemitism after Golders Green attack
Ministers are under pressure to ban pro-Palestine marches in the wake of Wednesday’s suspected terror attack in north London amid claims they contribute to ‘a tone of antisemitism’.
Police across the country have stepped up patrols in response to the attack that saw two Jewish men – 34-year-old Shilome Rand and 76-year-old Moshe Ben Baila, named locally as Moshe Shine – taken to hospital after being stabbed in the Golders Green.
A 45-year-old man, said by police to be a Somali-born British national, was arrested following the incident.
King would have probably helped with military strikes against Iran, says Trump
Donald Trump has said the King ‘would have probably helped’ the US in its military offensive against Iran.
The US president made his remarks in the Oval Office following Charles’s speech to Congress, in which the monarch argued the need for a strong Nato and help for Ukraine, which have both been criticised by the American leader.
Trump has repeatedly lambasted the UK for failing to join strikes against Tehran and branded Sir Keir Starmer as weak and indecisive.
Wednesday on Car Dealer
Mercedes-Benz and two other firms to challenge FCA over motor finance redress scheme
Mercedes-Benz and two other lenders have moved to challenge the Financial Conduct Authority’s (FCA) motor finance redress scheme for consumers.
Family-run T.C. Harrison ends Ford sales at Stamford site as new KGM deal gets underway
Family-run car dealer T.C. Harrison has ditched Ford sales at one of its sites, having signed up to represent KGM instead.
Volkswagen finally reveals its new electric supermini – the 282-mile ID. Polo
Lookers officially opens new Cupra and Seat site despite ongoing redundancy threat
Lookers has officially opened a new Cupra and Seat dealership in the north east of England – just days after reports that the dealer group is planning redundancies across multiple divisions.
Aston Martin posts heavy losses in Q1 as boss steps in with additional £50m financing
Aston Martin Lagonda boss Lance Stroll is to pump a further £50m into the struggling carmaker after the firm posted another quarterly loss.
Mercedes-Benz Group profits slide in Q1 as China market slumps
Mercedes-Benz Group suffered a drop in operating profit during the first quarter, but strong demand in Europe and the US helped offset a continued downturn in China.
Weather
Sunny, warm and breezy conditions for most today, with some cloud and a few showers in south-western Northern Ireland and far south-west England and Wales, reports BBC Weather.
Tonight stays mostly clear and dry, though cloud and showers develop in the south-west, with low cloud affecting north-west Scotland.
