6:55 am, July 1, 2026
Government ‘minded to intervene’ over £83bn Warner Bros Discovery takeover
The Government has threatened to intervene in the £83bn takeover of Warner Bros Discovery by Paramount due to public interest concerns.
Culture secretary Lisa Nandy told Parliament on Tuesday she is ‘minded to intervene’ in the deal, which will create one of the world’s largest media and entertainment companies.
Paramount agreed to buy Warner Bros Discovery in February after triumphing over Netflix in a lengthy bidding battle.
Kitchen chain Magnet to shut 15 stores in restructuring
Kitchens firm Magnet is to shut 15 stores as part of a major restructuring.
The company said it will close the ‘underperforming’ locations as part of a company voluntary arrangement (CVA) restructuring process in order to help secure the group’s finances.
Magnet did not disclose how many workers would be hit by the closures, but said affected staff ‘will be supported throughout and suitable alternative roles within the business will be offered wherever possible’. The majority of the brand’s 159 stores will not be impacted by the restructuring and will continue to operate as normal.
Discovery line-up gains new Landmark trim
The Land Rover Discovery has gained a new specification with the Landmark.
It sits alongside the existing Tempest and S trim levels to broaden the range of available specifications and arrives with a new Tasman Blue exterior colour alongside a host of other features.
The special grade also features the Landmark branding and a mountain logo on the front tread plates, centre console and B-pillar insert, as well as on the images cast out by the puddle lamp projectors on the sides of the car. There are also grey exterior accents, plus a standard sliding panoramic roof and centre console fridge. Prices start from £75,860.
The markets
The FTSE 100 edged higher on Tuesday as investors digested government defence spending plans in the UK and cooling inflation data in Europe.
The FTSE 250 ended slightly lower at 23,013.45, and the Aim All-Share rose 2.06 points, 0.3%, at 772.17.
The pound traded at 1.3263 dollars on Tuesday afternoon, higher from 1.3247 dollars on Monday. Against the euro, sterling firmed to 1.1614 euro from 1.1597 euro on Monday.
Keir Starmer says £15bn defence investment plan will prepare UK for war
An extra £1bn investment in defence will mean the UK will be ready to fight Russia if Vladimir Putin launches an attack in 2030, Sir Keir Starmer said.
The prime minister acknowledged some other areas of government spending would be slashed in order to fund defence, with cuts to road and energy projects to pay for the military.
The plans include billions more for the next generation of stealth jets, the largest ever investment in drone warfare and confirmation the UK will buy F-35A planes capable of carrying nuclear bombs. But older equipment including two Type 23 frigates and older Chinook and Wildcat helicopters will be retired.
Three in five voters think Burnham not ready for No10, poll finds
More than half of voters think Andy Burnham is not ready to be prime minister but are willing to give him ‘a hearing’, a poll has found.
A survey by More in Common found 59% of Britons did not think the Makerfield MP was ready for power.
But the public still sees him as more ready than either Kemi Badenoch or Nigel Farage, with 62% and 66% respectively saying the two leaders were unready.
Tuesday on Car Dealer
Donnelly Group ‘happy’ with performance despite profit dip in face of ‘challenging’ market
Bosses at the Northern Ireland-based Donnelly Group say they are ‘happy’ with the firm’s performance, despite a small dip in profits in the face of a ‘challenging automotive market and economic environment’.
Podcast: Ex-Volkswagen UK boss warns car dealers to be cautious before signing with Chinese brands
Former Volkswagen UK boss Paul Willis has warned car dealers to be ‘very, very cautious’ before signing up with Chinese manufacturers, saying franchise agreements need to be scrutinised carefully as the brands rapidly expand across Europe.
From apprentice to MD: SLM Group boss retires after 47-year career with firm
The boss of SLM Group has decided to retire after a 47-year career with the company.
Independent Garage Association calls for MOT price rises ‘as a matter of urgency’
The Independent Garage Association (IGA) has called for the government to increase to price of MOT tests ‘as a matter of urgency’ as businesses continue to battle rising costs.
James Morrison to cover Park (Lane) life: BMW names new MD at flagship dealership
BMW has announced that James Morrison is to take over as managing director of its flagship Park Lane dealership.
Weather
Today starts with sunshine in the east before cloud and strengthening winds spread from the west, reports BBC Weather. Rain will reach northern areas later.
Overnight, it stays windy across the north and west with heavy rain in northern Scotland, while the south-east turns cloudier with a few light showers by dawn.
