6:50 am, July 9, 2026
Virgin Media fined record £28m for stopping millions of customers from switching
Virgin Media has been fined a record £28m after regulator Ofcom found the firm stopped or delayed customers from switching to different providers by ‘widespread’ and often deliberate mishandling of calls.
The telecoms regulator said it had levied its largest-ever consumer protection fine against the telecoms firm after Virgin Media had, over a near three-year period from January 2022 to September 2024, caused customers on millions of calls ‘unreasonable effort, hassle or undue difficulty’ when trying to cancel.
This included attempts to pressure customers to stay, unnecessary call transfers to other departments, keeping callers on hold, deliberately dropping calls and failing to process cancellations on the system, according to Ofcom.
UK inflation set to ease back faster than expected, says IMF
UK inflation is set to ease back to target levels quicker than previously expected, according to projections from the International Monetary Fund (IMF).
It came as the global economic body said the global economic shock from the conflict in the Middle East was ‘better than feared’.
The IMF’s latest update to its World Economic Outlook indicated that inflation will ease back in the UK over the next year.
The Hennessey Venom F5-M is the world’s most powerful manual hypercar
Hennessey has revealed the world’s most powerful manual hypercar with the Venom F5-M.
Hennessey is an American hypercar company that has built up a reputation for making some of the most extreme and fastest cars on the planet, and the F5-M is its latest creation.
It’s powered by a 6.6-litre twin-turbocharged V8 engine that produces 2,031bhp and will have a top speed of more than 200mph; however further performance figures have not been revealed at this stage.
The markets
Stocks plummeted on Wednesday as tensions flared in the Middle East with the US threatening further attacks on Iran.
The FTSE 100 closed down 176.84 points, 1.7%, at 10,489.04, and the FTSE 250 ended down 361.18 points, 1.5%, at 23,017.64, while the AIM All-Share fell 11.11 points, 1.4%, to 758.07.
In European equity markets on Wednesday, the Cac 40 in Paris ended down 2.2%, as did the Dax 40 in Frankfurt.
Wednesday on Car Dealer
Used EV prices surge again as dealers ‘can’t get enough’ stock
Used EVs remain the hottest stock for dealers, with retail prices rising 2% in June and almost 5% over the past three months, according to Cazana. Strong demand, limited supply and improving margins are helping drive values higher, particularly for affordable electric hatchbacks.
Snows Motor Group offers customers a chance to try new Denza brand
Vehicle logistics firm goes into administration after running up £1.1m HMRC bill
Vehicle logistics firm Mallock Limited, trading as Ecomotive Logistics, has entered administration after defaulting on a debt repayment plan. The company still owes HMRC around £855,000 despite repaying more than £256,000, while unsecured creditors are owed an estimated £83,000.
Independent car dealers drive surge in used EV demand at auction
Independent dealers bought 44% more used EVs at G3 Vehicle Auctions in Q2 as confidence in the second-hand electric market continued to grow. Rising demand, stronger auction conversion rates and increasing stock suggest used EVs are becoming a mainstream part of dealers’ forecourts.
Ineos Grenadier approved for UK police duty after passing tough tests
The Ineos Grenadier has been approved for UK emergency service use after passing the Metropolitan Police’s demanding vehicle tests. The certification clears both the Station Wagon and Quartermaster for blue-light duties and is expected to support wider adoption by police and rescue organisations.
US launches fresh wave of strikes on Iran after Trump declares ceasefire over
US forces have launched a fresh round of strikes against Iran on the orders of Donald Trump.
The president had earlier threatened to carry out further attacks as he branded the Tehran regime ‘scum’ and ‘dishonourable’.
Speaking at the Nato summit in Turkey, Mr Trump declared that the interim ceasefire was over, following the latest flare-up in the Middle East, which has again led to a spike in oil prices.
Farage seeks August 6 date for by-election which will be boycotted by rivals
Nigel Farage wants the by-election in Clacton to take place on the earliest date possible, on August 6.
Reform UK said it will propose that date when it launches the parliamentary process to trigger the contest on Thursday.
However, it is unclear whether it can happen that soon, as the House of Commons library sets out that a by-election cannot take place for at least 21 working days after a writ is issued, with this Friday counting as day one.
Weather outlook
Northern England will be warm with prolonged sunshine, while southern England turns hot under clear skies and light winds.
Wales can expect another dry, sunny and very warm day, with cooler conditions lingering near some coasts.
Scotland stays warm in the east with sunshine, although the far northwest remains cloudier with patchy drizzle.
