6:22 am, July 2, 2026
Halifax to be changed to Lloyds, bringing end to 173-year-old British brand
The Halifax brand is being scrapped after 173 years on British high streets and all customer accounts will be rebranded to Lloyds over time.
Lloyds Banking Group, which has owned Halifax since 2009, said there is nothing that customers need to do and they will be contacted about the changes. No job cuts have been announced and Halifax branches will either be rebranded to Lloyds or shifted to a Lloyds branch nearby throughout 2027.
It is understood that the decision was rooted in efforts to simplify the group’s portfolio, with the distinction between Halifax and Lloyds seen as becoming less prominent in recent years.
Around 150 TG Jones shops at risk of closure after restructuring approved
The high street chain formerly known as WH Smith has secured court approval for a major restructuring, which is expected to lead to the closure of around 150 stores and hit hundreds of jobs.
TG Jones’ restructuring plan was approved by the High Court on Wednesday, is a move which will save the business from insolvency.
There are around 450 TG Jones stores with 4,700 staff, mostly in the UK.
Nissan introduces lower-priced Leaf with 280-mile range
Nissan has launched a new entry-level Leaf with a new, smaller-battery version.
Priced from £28,849 inclusive of the Government’s full £3,750 Electric Car Grant, the new 52kWh battery version sits underneath the already-introduced 75kWh version in the range.
The 52kWh car will deliver a range of up to 280 miles, claims Nissan, and comes in Engage trim. This brings dual 12.3-inch screens, a 360-degree around-view parking camera and Nissan’s full ProPilot Assist system. The Advance, at £30,849, gets larger screens and other luxuries, including a heat pump.
The markets
Stocks ended mixed in London on Wednesday with US rate hike worries and a decline in Primark owner Associated British Foods hitting blue-chips, while mid-caps prospered.
The FTSE 100 closed down 18.78 points, 0.2%, at 10,478.34. The FTSE 250 ended up 316.62 points, 1.4%, at 23,330.07, and the AIM All-Share rose 3.88 points, 0.5%, at 776.05.
The pound traded at 1.3273 dollars on Wednesday afternoon, up from 1.3263 dollars on Tuesday. Against the euro, sterling firmed to 1.1657 euros from 1.1614 euros on Tuesday.
Defence funding plan faces fresh scrutiny over where cuts will be made
Sir Keir Starmer’s plan to boost defence spending by £15bn is facing fresh scrutiny, after Downing Street was unable to say where exactly the cuts required to pay for it will come from.
The government is yet to spell out how almost a third of the plan will be funded, with a decision on where that £4.7bn will come from to be made at the Budget in the autumn.
That will prove a headache to Sir Keir Starmer’s successor in No 10, likely to be Andy Burnham, who was only briefed about the funding black hole on Tuesday.
‘Positive progress’ in US-Iran talks despite Strait of Hormuz strikes
Indirect talks between the US and Iran made ‘positive progress’, according to mediators following recent clashes over the Strait of Hormuz.
The strategic waterway remains a flashpoint in the fragile interim ceasefire brokered between the two sides and was the cause of the recent exchange of fire after a cargo ship was attacked.
But the initial deal reached between the US and Iran – known as the Islamabad memorandum of understanding – only secures safe, toll-free passage of the strait for 60 days, pending the outcome of a final agreement on Tehran’s disputed nuclear plans.
Wednesday on Car Dealer
Reform ZEV Mandate NOW or risk jobs, investment and UK car production – SMMT
The government’s electric car targets are hurting manufacturers with the industry unable to wait for ‘lengthy’ discussions over reforms, the car industry’s trade body has said.
Car Dealer Power 2026: We reveal who has made the shortlist for this year’s awards
The search for the best of the best in the motor trade has moved up a gear as we reveal the firms which have made the shortlist for Car Dealer Power 2026.
Ex-Volkswagen Group UK boss says agency model was ‘never viable’
A former Volkswagen Group UK boss has revealed he questioned the agency sales model from the very beginning, saying manufacturers failed to understand the impact it would have on dealers.
Dacia steals UK’s cheapest car title from Leapmotor after slashing £4k off Spring
Dacia has slashed a whopping £4,000 off the price of its Spring electric city car making it the UK’s cheapest new car on sale – just 24 hours after Leapmotor claimed the title.
BMW unveils fifth generation X5 as SUV gets hydrogen version for the first time
BMW has taken the covers off its fifth generation X5, with the model getting more powertrain options than ever before – including a new hydrogen version.
Weather
Cloud and patchy rain in southern England will clear to leave sunshine, while the rest of the UK enjoys sunny spells, although northern Scotland will see scattered showers, reports BBC Weather.
Tonight will be mostly dry and clear, with variable cloud and a few isolated showers lingering across western Scotland and Orkney.
