6:50 am, July 10, 2026
Hugo Boss calls for investors to reject ‘inadequate’ Frasers Group offer
Bosses at Hugo Boss have urged investors to reject an “inadequate” takeover offer from Mike Ashley’s Frasers Group.
The retail giant behind Sports Direct and House of Fraser currently owns around 26% of Hugo Boss but launched a move to take full control last month.
It offered to pay around €1.98bn (£1.73bn) for the remainder of the business, which would see it pay €38 per share to shareholders. Shares in the group were worth €36.44 at the close of trading prior to the approach.
Third summer heatwave prompts fresh plea for more power generation
Britain’s electricity grid operator has issued another plea to the industry for more power generation amid the third heatwave of the year.
The National Energy System Operator (Neso) said it was forecasting a tight period for electricity margins for Thursday evening due to ‘extreme temperatures’ in Europe.
It is the third so-called electricity margin notice issued by Neso this year, which are more typically sent during cold spells in the winter when more people are heating their homes.
Mini celebrates British heritage with new Oxford Edition
Mini is paying tribute to its British heritage with a new special edition car.
Called the Oxford Edition, it’s a model that pays homage to Mini’s UK origins, as well as to its more recent offerings built here.
The first Mini was created at the brand’s site in Oxford in 1959, before it was transformed in 2001 to create the first ‘new’ Mini born out of the brand’s ownership by BMW.
The markets
Heavy falls in AstraZeneca saw London’s FTSE 100 underperform European peers, while investors continue to weigh up developments in the Middle East.
The FTSE 100 closed down 16.59 points, 0.2%, at 10,472.45. The FTSE 250 ended up 222.92 points,
In European equity markets on Thursday, the CAC 40 in Paris ended up 0.9%, as did the DAX 40 in Frankfurt.
Thursday on Car Dealer
Lookers aiming to be UK’s number one dealer group as profits rise for second year running
Arnold Clark set to acquire family-run car dealership after 65 years and three generations
Arnold Clark is set to acquire Glasgow Seat retailer W. Livingstone Ltd, ending 65 years of family ownership. The proposed takeover, expected to complete on August 7, would add another established Seat dealership to Arnold Clark’s expanding Scottish network.
Revealed: These are the 10 used car models that lost the most value in June
The BMW i5 was June’s biggest used car price faller, dropping 16.1% year-on-year to £44,277, while the Alfa Romeo Giulia led the gainers with a 17.3% rise, according to Autotrader’s latest Retail Price Index.
Autotrader reports rising used car prices in June as second-hand EVs finally start to climb
Autotrader says the used car market remained resilient in June, with average prices rising 0.8% year-on-year to £17,194. Used EV values increased annually for the first time since 2022, while older vehicles continued delivering the strongest price growth and margin opportunities.
Labour MPs overwhelmingly back Andy Burnham for party leadership
Andy Burnham is almost guaranteed to be the next prime minister of the United Kingdom after 322 Labour MPs nominated him to take over from Sir Keir Starmer.
The total means that there are only 81 Labour MPs left who could nominate another contender, the minimum needed to get on to the ballot.
But convention dictates that the outgoing leader does not nominate a candidate, meaning in reality there are no longer enough undeclared MPs to back an alternative to Mr Burnham.
Reform faces ‘legitimate questions’ over reported donation probe – Labour
Labour chairwoman Anna Turley, the Labour chairwoman, says there are ‘legitimate questions’ for Reform leader Nigel Farage following reports in The Times that the Metropolitan Police has been investigating £500,000 donations to Reform UK for more than a year.
According to the newspaper, officers opened an inquiry into possible offences related to evading restrictions on donations at the 2024 election, either through concealing donations from an “impermissible” donor or using false information about a donation.
A spokesperson for the Metropolitan Police said the force had opened an inquiry in February 2025 following a referral by the Electoral Commission ‘relating to donations made to a political party ahead of the 2024 UK general election’.
Temperatures ‘hit record’ for most number of days to hit 34C in calendar year
Temperatures have broken the record for the number of days the UK has seen such temperatures reach or exceed 34C in a calendar year, the Met Office has announced.
Forecasters recorded 34.4C at Wisley in Surrey on Thursday, breaking the previous record of seven days set in both the infamous summer of 1976 and 2020.
It comes as the country swelters in the third heatwave of the year, with heat health alerts have issued by the Met Office over the coming weekend.
