6:25 am, August 4, 2025
Borrowing costs set to ease further as Bank contends with weaker jobs market
Borrowing costs are set to ease further as the Bank of England contends with stagnant growth and rising unemployment, experts have predicted.
Most economists think the Bank’s Monetary Policy Committee (MPC) will cut interest rates by 0.25 percentage points to 4% on Thursday.
It could release pressure for some mortgage holders amid hopes that cheaper deals will enter the market if the Bank’s base rate is lowered further.
Barclays becomes second UK bank to quit industry’s net zero group
Barclays has become the second UK bank to leave the industry’s global alliance for setting climate targets.
The lender announced it would be leaving the Net Zero Banking Alliance (NZBA) on Friday after ‘the departure of most of the global banks’. HSBC became the first British institution to leave the alliance earlier this month in the wake of several major US banks.
Campaigners called Barclays’ decision to step away ‘incredibly disappointing’ as it marks a fresh blow to international efforts to co-ordinate climate action.
Honda Civic receives exterior and interior updates
Honda’s Civic has been updated with fresh exterior and interior details.
New Civic gets a redesigned front upper and lower grille, a body-coloured lower bumper spoiler, fresh alloy wheel designs and a sculpted front bumper. Meanwhile, higher-spec models get a new steering wheel, a 10.2-inch digital driver’s display, and a wireless phone charger in the centre console.
Power remains the same as before, and there are three trim levels with prices starting from £33,795 and rising to £38,69.
The markets
The FTSE 100 sank on Friday after US president Donald Trump announced tariffs on dozens of trading partners, and weak US jobs data fuelled concerns as to the strength of the US economy.
The FTSE 100 index closed down 64.23 points, 0.7%, at 9,068.58. The FTSE 250 closed 263.49 points lower, 1.2%, at 21,699.34, and the AIM All-Share closed down 4.34 points, 0.6%, at 757.16.
For the week, the FTSE 100 fell 0.6%, the FTSE 250 was down 1.9% and the AIM All-Share lost 2.6%. The pound, meanwhile, rose to 1.3247 dollars late on Friday afternoon in London, compared with 1.3230 dollars at the equities close on Thursday.
Home Office gives extra £100m for plans to smash people-smuggling gangs
The Home Office is giving £100m of extra funding to support the pilot of the new ‘one in, one out’ returns agreement between the UK and France and other efforts to crack down on small boat crossings.
The cash will also pay for up to 300 more National Crime Agency (NCA) officers and new technology and equipment to step up intelligence-gathering on smuggling gangs.
There will be more overtime for immigration compliance and enforcement teams as well as funding for interventions in transit countries across Europe, the Middle East, Africa and Asia.
BMA hits back after NHS says less than a third of resident doctors joined strike
Less than a third of resident doctors joined strike action last week, NHS England has said.
The number that took part in the five-day walkout was down by 7.5% (1,243) on the previous round of industrial action in July last year, according to an early analysis of management information collected by NHS England. But the British Medical Association rejected this, saying complex work schedules and doctors taking leave make this information ‘almost impossible to know’.
NHS England said it maintained care for an estimated 10,000 more patients during the latest doctors’ strike compared with last year’s, and 93% of planned operations, tests and procedures went ahead. In previous walkouts, the majority of non-urgent care was postponed.
Latest on Car Dealer
Car finance firms avoid paying millions in compensation after Supreme Court ruling
Motor finance lenders have avoided potentially having to dish millions of pounds in compensation to customers after the Supreme Court ruled they are not liable for hidden commission payments in car finance schemes.
JLR boss Adrian Mardell to retire after eventful three years leading British carmaker
JLR boss Adrian Mardell is to retire after an eventful three-year spell at the helm of the carmaker.
François Provost named as Luca de Meo’s permanent successor as Renault CEO
Renault has confirmed the appointment of François Provost as its new CEO, following the departure of Luca de Meo.
Weather
Storm Floris will bring strong, damaging winds and heavy rain, mainly affecting the north before clearing westward to sunny spells and northwest showers, reports BBC Weather. Rain will fall in most parts of the UK, too, keeping temperatures lower than of late.
Tonight, disruptive weather continues in northeast Scotland, while showers impact northern areas.
