Interest rates hold at 3.75% a ‘near-certainty’ after inflation rebound

Interest rates being kept at 3.75% is a ‘near-certainty’ as Bank of England policymakers hope to keep a lid on above-target inflation and an eye on economic growth, experts think.

Most economists are expecting rates to be left unchanged when the Bank’s Monetary Policy Committee (MPC) announces its next decision on Thursday.

It will be the MPC’s first time setting interest rates this year after delivering a cut before Christmas.

US crayon maker Crayola pledges multimillion-pound investment in UK and Ireland

US crayon maker Crayola has pledged to invest millions of pounds in the UK and Ireland as part of plans to double its business in the region, as its boss aims to reignite creativity among children and families in the digital age.

The 120-year-old business, which is a subsidiary of Hallmark Cards, laid out a three-year plan that involves the launch of new products and campaigns to market the brand.

It follows the opening of a new UK office in Woking, Surrey, creating 23 jobs this month. The multimillion-pound investment in 2026 is set to be repeated in 2027 and 2028 under the Philadelphia-based firm’s strategy.

Bentley reveals Supersports-inspired Continental GT S

Bentley has revealed a new driver-focused Continental GT S and GTC S models, which has been inspired by the limited-run Continental GT Supersport variant.

Powered by Bentley’s ‘High-Performance Hybrid’ powertrain, the models get a Performance Active Chassis and a sporty exterior makeover to mark them out.

Bentley has not revealed prices at this stage, though it will sit between the standard car at £202,400 and the GT Speed at £236,400.

The markets

The FTSE 100 ended the week on the front foot, despite hefty falls for mining stocks, as investors weighed the confirmation of Kevin Warsh as the next US Federal Reserve chairman.

The FTSE 100 index closed up 51.78 points, 0.5%, at 10,223.54. The FTSE 250 ended down 15.08 points, 0.1%, at 23,253.36, and the AIM All-Share closed down 7.39 points, 0.9%, at 817.53.

The pound was quoted lower at 1.371 dollars at the time of the London equities close on Friday, compared to 1.379 on Thursday. The euro stood lower at 1.188 dollars, against 1.195 dollars. Against the yen, the dollar was trading higher at 154.30 yen compared to 152.87 yen.

Keir Starmer hails trade and investment deals as trip to China concludes

Sir Keir Starmer has wrapped up his trip to China hailing billions of pounds in trade agreements and investment in the UK by companies including the makers of the viral hit Labubu dolls.

The prime minister left Shanghai on Saturday after a three-day visit during which he has repeatedly said that his decision to re-engage with China will deliver benefits for the British people.

Downing Street said the visit had secured £2.2bn in export deals and market access worth another £2.3bn over the next five years as well as hundreds of millions of pounds of investment by Chinese companies.

Andrew and Mandelson face pressure to reveal what they know about Epstein

Andrew Mountbatten-Windsor and Lord Peter Mandelson are facing calls to reveal all they know about Jeffrey Epstein to US lawmakers, as the peer resigned his membership of the Labour Party to avoid causing it ‘further embarrassment’.

Andrew and Lord Mandelson are both featured in the more than three million documents released by the US Department of Justice on Friday related to paedophile financier Epstein.

US officials are reportedly drawing up a summons demanding Lord Mandelson appears in Washington to testify about Epstein, the Telegraph reported.

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Weather

Cloudy today with limited bright spells, mainly in far western Scotland, reports BBC Weather. Patchy rain affects northern and eastern areas, with heavier rain developing in the far south-west by evening as winds pick up.

Tonight stays mostly cloudy, with rain across the south-west and far south, patchy wintry rain on north-east Scottish hills, and breezy conditions continuing.

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