6:17 am, July 25, 2025
River Island at risk of administration amid rescue efforts
River Island is at risk of collapsing into administration within weeks if it fails to secure approval for a radical restructuring plan.
The high street fashion chain also needs to secure further funding later this year in order to preserve its future, according to documents shared with creditors.
The London-based company has laid out a major rescue plan which will see it shut 33 stores and pay reduced rents on a further 71 shops. Landlords are being asked to cut rents for three years and potentially stop payments completely on some sites in a bid to stem losses.
ITV ramps up cost cutting as profits fall
Broadcaster ITV has stepped up cost-cutting plans again as it revealed a slump in half-year profits.
The group behind hit TV shows including Britain’s Got Talent and Love Island said it was slashing costs by another £15m, on top of £30m previously announced, with spend on content being trimmed.
It reported a 44% drop in underlying pre-tax profits to £99m for the six months to June 30, down sharply from £178m a year ago. Operating profits were 44% lower at £76m.
Rolls-Royce reveals three unique cars inspired by Chinese mural art
Rolls-Royce has revealed three unique cars that have been inspired by Chinese mural art.
Chinese mural art sees paintings directly drawn onto cliffs, tomb chambers and palaces, with all three Rolls-Royce models inspired by ancient cave paintings in Dunhuang, China.
One of the cars, Phantom Extended (pictured), features a two-tone body colour, with the lower section finished off in Ningye Purple – inspired by the deep violet skies above the Great Wall of China – and the upper section is painted in English White. Inside, there are 1,344 hand-placed fibre-optic stars and 192 ‘shooting stars’ in the headliner.
The markets
The FTSE 100 posted another record close on Thursday, buoyed by well-received earnings and hopes for a trade deal between the US and Europe, following the Japan-US agreement.
The FTSE 100 index closed up 76.88 points, 0.9%, at 9,138.37, a new closing peak. It had earlier hit a new all-time high of 9,158.21. The FTSE 250 closed up 141.92 points, 0.6%, at 22,155.41, and the AIM All-Share closed up 2.88 points, 0.4%, at 776.87.
The pound eased to 1.3535 dollars late on Thursday in London, compared with 1.3571 dollars at the equities close on Wednesday.
Starmer issues last-ditch appeal as thousands of doctors to strike
Thousands of resident doctors are beginning a five-day strike after talks with the government collapsed over pay.
Resident doctors will take to picket lines across England from 7am on Friday in a move which is expected to disrupt patient care.
Sir Keir Starmer made a last-minute appeal to resident doctors, saying the strikes would ’cause real damage’.
Councillors vote to urge government to close Epping asylum hotel
A council has unanimously voted to urge the government to close a hotel housing asylum seekers following a series of protests around the site in Essex.
Multiple demonstrations have been held outside the Bell Hotel in Epping since July 13 after an asylum seeker was charged with allegedly attempting to kiss a 14-year-old girl.
Dozens of protesters gathered at the site again on Thursday evening. Police have made 18 arrests and charged seven people in connection with the demonstrations.
Thursday on Car Dealer
Auto Trader predicts record year for car sales, with used car sector showing biggest growth
Auto Trader predicts total UK car sales will hit 9.75 million in 2025, driven by strong used market growth and rising demand for older, affordable cars. New EV interest surged after grant news, but independents now benefit most from booming five-to-10-year-old stock popularity and record website traffic.
UK vehicle manufacturing plummets nearly 12% so far in 2025
UK car and van production dropped nearly 12% in H1 2025, mainly due to Stellantis’ Luton van factory closure. However, electrified vehicle output rose 1.8%, making up 41.5% of production. Exports remain strong, with the USA as the top market despite economic challenges.
BYD delays opening tariff-busting European factory until 2026
BYD will delay full-scale EV production at its new Hungary factory until 2026, operating below capacity for two years. Instead, it will ramp up output in Turkey, where costs are lower. This shift undermines EU hopes of attracting Chinese investment and high-quality jobs through EV tariffs.
Used van demand up nearly 10 per cent year on year, says Manheim
Used van demand rose 9.3% year-on-year in Q2 2025, despite a 12.1% drop in new van sales. Manheim Auction Services attributes this to slower fleet replacements and reduced stock. Prices climbed 9%, with average sales hitting £8,063. Sales volumes surged 30.2%, nearing pre-2020 levels.
Tesla profits plunge as Elon Musk’s political stance drives away potential buyers
Tesla’s Q2 2025 profits dropped 16% and revenue fell 12%, as Elon Musk’s political involvement continues to deter buyers globally. Boycotts, EV incentives cuts, and stronger rivals like BYD and VW compound challenges. Musk shifted focus to robotaxis, but profitability remains uncertain.
Chinese brands continue to thrive as European car market struggles
Europe’s new car registrations fell 4.4% in June, yet Chinese brands surged, nearly doubling market share to 5.1% in H1 2025. BYD led growth, while Stellantis and Tesla lost ground. BEV sales rose, but market uncertainty and regional declines remain major challenges.
Weather
Today, thick cloud and occasional light rain will move southeast, giving way to sunny intervals by afternoon, reports BBC Weather. The southeast stays mostly dry with sunshine.
Tonight, clear spells and patchy cloud persist, with showers in the northwest and increasing cloud and isolated showers in Wales and southern England.
