6:22 am, January 15, 2026
Cheap Chinese imports to help drive inflation to target, says Bank rate-setter
Cheap imports from China should help bring UK inflation down to target by the middle of this year and help smooth the way for further interest rate cuts, according to a Bank of England policymaker.
In a speech at the National University of Singapore, Bank rate-setter Alan Taylor said US president Donald Trump’s move to impose hefty trade tariffs on China have seen the country’s exporters cut prices to boost trade in the UK and Europe.
He said this is helping push down on UK inflation, which he forecast would now fall from 3.2% currently to the Bank’s 2% target within six months.
Pubs will get the support they need, vows Keir Starmer
Sir Keir Starmer has confirmed the government is working with the pubs sector ‘to ensure that they get the support that they need’ after an outcry over the impact of an upcoming hike in business rates.
Rachel Reeves earlier said pubs will receive ‘more temporary support’ in a climbdown from a Budget decision.
But the prime minister and the chancellor appear to be resisting calls for the financial aid to be extended to other ailing hospitality businesses, with Reeves saying the ‘biggest concern’ is around pubs.
BMW ‘M’ division undergoing testing of ‘M Neue Klasse’ electric sports saloon
BMW’s ‘M’ performance division is undergoing testing of its first electric sports saloon with the M Neue Klasse.
Effectively the mooted 2027 iM3, the ‘M Neue Klasse’ will use a 100-plus kWh battery pack with 800-volt technology, and an electric motor for each wheel.
Further details on the BMW M Neue Klasse will be revealed at a later date.
The markets
Stock prices in London closed higher on Wednesday, after safe-haven demand from a firming gold price lifted mining stocks.
The FTSE 100 index closed up 47.00 points, 0.5%, at 10,184.35. The FTSE 250 ended up 25.34 points, 0.1%, at 22,957.31, and the AIM All-Share closed up 2.64 points, 0.3%, at 801.69.
The pound was quoted at 1.3450 dollars at the time of the London equities close on Wednesday, higher compared to 1.3428 dollars on Tuesday. The euro stood higher at 1.1656 dollars, against 1.1638 dollars. Against the yen, the dollar was trading at 158.25 yen, down from 159.17 yen.
Police chief clings to his job after losing confidence of home secretary
The chief constable of West Midlands Police is clinging to his job after losing the confidence of the home secretary following the move to ban Maccabi Tel Aviv fans from a match against Aston Villa.
Craig Guildford has resisted calls to resign after apologising for giving incorrect evidence about the controversy to MPs which included denying that AI had been used in a report that informed the decision.
The power to sack Guildford lies with West Midlands Police and Crime Commissioner (PCC) Simon Foster, who declined to do so on Wednesday as he awaits the outcome of a parliamentary inquiry into the matter.
New Birmingham-Manchester rail line planned by government
The government has announced its intention to build a new railway line between Birmingham and Manchester.
A previous plan to extend HS2 between the cities was scrapped by Rishi Sunak’s Conservative government in October 2023 to save money.
The Treasury said it wants a new Birmingham-Manchester rail line but that it would not be ‘a reinstatement of HS2’. No timescale was provided on when it would be built, and land between Manchester and Birmingham previously obtained for HS2 will be held onto while the project is developed.
Latest on Car Dealer
Fraudsters target used car buyers on Cazoo by hacking emails and offering fake discounts
Fraudsters are targeting car buyers who are shopping on Cazoo by offering them discounts that real dealers never could.
Family-run Chariots adds second BYD site after acquiring former site of Rugby Suzuki
Dealer group Chariots has added another BYD showroom to its portfolio as it looks to grow its partnership with the Chinese brand.
Police launch investigation after family run car dealership falls victim to £100,000 break-in
Police have launched an investigation after thieves smashed their way into a family-run car dealership in order to steal a trio of premium used vehicles.
Weather
Heavy rain spreads into southern England and Wales today, heaviest in the far south and accompanied by strong winds, reports BBC Weather. Further north, brighter spells and variable cloud develop with isolated showers in western Scotland.
Tonight, rain clears eastern England, leaving variable cloud, clear spells and a few scattered showers elsewhere.
