6:50 am, July 17, 2026
Government brings British Steel under public ownership
British Steel has been brought under public ownership to protect ‘the future of steel production in the UK’, the Government has announced.
The Department for Business and Trade said the move was essential to maintain steel production at British Steel’s site in Scunthorpe, Lincolnshire, to protect both the company’s future and UK supply chains.
The announcement follows the Steel Industry (Nationalisation) Act 2026 receiving royal assent and becoming law.
IMF urges Andy Burnham to avoid public spending hikes
An influential global organisation is urging Andy Burnham’s incoming government to avoid increasing public spending in the face of pressures such as rising household energy bills.
The International Monetary Fund (IMF) published a new report on the UK as Mr Burnham prepares to take the reins as the country’s new prime minister.
The Washington-based fund, which has around 190 member countries, said the Government should try to stay focused on its plans to grow the economy and stabilise debts in a more volatile world prone to shocks.
Jeep Avenger 85th Anniversary edition goes on sale from £30,395
Jeep has announced orders have opened for the Avenger 85th Anniversary edition with prices starting at £30,395.
The Avenger is the firm’s smallest model and sits on Stellantis’ ‘STLA Small’ platform, which is shared with the Peugeot 2008 and Vauxhall Mokka.
This special edition model celebrates 85 years since the original Willys Jeep was signed off in 1941, and features lots of upgrades over the standard car.
The markets
The FTSE 100 outperformed European peers on Thursday supported by gains in engineering stocks which helped offset weak miners.
The FTSE 100 closed up 56.32 points, 0.5%, at 10,572.24. The FTSE 250 ended up 253.44 points, 1.1%, at 23,715.83, and the AIM All-Share rose 0.44 of a point, 0.1%, at 766.18.
In European equity markets on Thursday, the CAC 40 in Paris ended down 0.1%, while the DAX 40 in Frankfurt fell 0.3%.
Thursday on Car Dealer
Motorway boss commits to reserve prices in wake of Carwow’s radical shake-up
Motorway has defended reserve prices after Carwow removed them from its auctions. CEO Tom Leathes said reserves help dealers bid with confidence, while additional seller information improves buying decisions and bid-to-completion rates.
FCA cracks down on misleading car finance claims adverts with 170 pulled in June
The FCA had 170 misleading motor finance claims adverts removed or changed in June, taking the total to 1,200 since January 2024. Working with the ASA, the regulator is targeting deceptive promotions and unauthorised claims firms.
Ford criticises ZEV mandate as boss calls for ‘urgent review’ of eco targets
Ford has urged the government to urgently review the ZEV mandate, arguing EV sales targets have fallen out of step with market demand. UK boss Lisa Brankin said current discounting is unsustainable and many customers, particularly van buyers, are not yet ready to switch.
Lookers opens first Corvette dealership after agreeing ‘groundbreaking’ new partnership
Lookers has opened its first Corvette dealership in Colchester after securing a franchise with the iconic US brand. The new showroom, serving Essex and the East of England, launched with a 400-guest event and showcases the Stingray, E-Ray and Z06 models.
Andy Burnham to pledge to be ‘unashamedly Labour’ when he becomes party leader
Andy Burnham will promise to be ‘unashamedly Labour’ when he officially becomes the party’s leader on Friday before taking over from Sir Keir Starmer as prime minister next week.
He will say in a speech that his government will have the ‘courage to fix the big things that politics has neglected’ and the ‘conviction to argue for our plans’.
The former Greater Manchester mayor, who returned to Westminster last month as Makerfield MP, will be confirmed as Labour leader in a special conference and then enter No 10 on Monday.
No 10 backs calls for Fifa probe after Argentina players wave Falklands banner
Downing Street has backed calls for Fifa to investigate whether Argentina players broke rules by brandishing a banner in support of their country’s claim to the Falkland Islands at the World Cup.
No 10 echoed remarks made earlier by Business Secretary Peter Kyle, who said the governing body should ‘thoroughly’ probe the behaviour of the defending champions after they beat England 2-1 in Wednesday’s match in Atlanta.
‘The World Cup might not be ours, but the Falkland Islands definitely are,’ a Downing Street spokeswoman said. Our position is unchanged. Self-determination rests with the islanders. Our commitment to the Falklands will never waver.’
Warm temperatures look ‘locked in’ for next seven to 10 days, say forecasters
The strong grip of the long, hot summer is set to last for at least seven to 10 more days, forecasters have said.
UK temperatures have topped 30C during the past 11 days and 2026 has become the first year on record to reach 35C in May, June and July, according to the Met Office.
Met Office spokesman Graham Madge said: ‘The settled and and fine conditions people are currently enjoying looks locked in for the next seven to 10 days and is likely to remain strongly.’