4:50 am, June 15, 2026
Bank of England set to hold interest rates as it faces balancing act
The Bank of England is set to keep interest rates on hold as policymakers face the task of navigating the Middle East energy shock and a slowing economy.
Many economists do not think an interest rate hike is on the cards this month despite concerns that the Iran war is putting pressure on UK inflation.
The Bank’s Monetary Policy Committee (MPC), which uses interest rates as a tool to control inflation, is widely expected to keep the level at 3.75% at the next announcement on Thursday.
Elon Musk becomes world’s first trillionaire after SpaceX mega float
Elon Musk is never far from the headlines and now the Tesla and X owner is making history once again after the blockbuster float of his SpaceX company has made him the world’s first ever paper trillionaire.
The 54-year-old’s net worth was estimated at 982.6 billion US dollars (£733 billion) before the float, according to Forbes, which has swelled to more than one trillion dollars after the record-breaking initial public offering (IPO).
His fortune has been boosted by the sky-high valuation of his rocket and artificial intelligence (AI) firm SpaceX, in which he has a 38% stake in total, worth 688 billion dollars (£514 billion) at the initial IPO price, even before shares rocketed on opening.
Peugeot’s E-208 GTi to start from £34,995
Peugeot has confirmed that its upcoming E-208 GTi will cost from £34,995.
The new electric hot-hatch has been designed to follow in the footsteps of classic Peugeot models such as the 205 GTi and, as a result, gets a host of design and performance tweaks over the standard E-208.
It’s lower and wider than the standard car, and its gets a 280bhp electric motor and a mechanical, limited-slip differential. The GTi will go on sale late this year.
The markets
The FTSE 100 ended the week on the front foot as Iran claimed a deal with the US has “never been closer”, while investors were glued to dealing screens as trading in SpaceX kicked off.
The FTSE 100 closed up 167.84 points, or 1.6%, at 10,471.72. The FTSE 250 ended up 355.07 points, 1.6%, at 23,325.71, while the AIM All-Share shot up 16.37 points, 2.1%, to 787.33.
The pound traded at 1.3422 dollars on Friday afternoon, up from 1.3342 dollars on Thursday. Against the euro, sterling firmed to 1.1587 euros from 1.1578 euros on Thursday.
Starmer says Strait of Hormuz must stay open after Iran-US peace deal announced
Sir Keir Starmer welcomed the US-Iran peace deal as a ‘hugely important step forward in ending the war’ as he stressed that the Strait of Hormuz must remain ‘fully and permanently open’.
The prime minister congratulated Donald Trump and key mediators on the ‘breakthrough’ after the US president said an agreement ‘is now complete’ and the Strait of Hormuz oil and gas shipping route is to be reopened without tolls.
Sir Keir said the UK would stand up the defensive mission led by Britain and France to assist with demining the Strait of Hormuz once the conflict is paused.
‘Giant of the Labour movement’ Roy Hattersley dies
Roy Hattersley, the former Labour deputy leader, has died aged 93, with Sir Keir Starmer leading tributes to his ‘decades of service’.
Known as Labour’s ‘nearly man’, he failed to gain the leadership of the party he loved and spent more than two decades of his 33 years as an MP on the opposition benches.
Prime minister Sir Keir wrote on X: ‘Roy Hattersley was a giant of the Labour movement. Through decades of service, including as deputy leader and a minister, he never lost his belief in a more equal Britain. My thoughts are with his wife Maggie and his family.’
Latest on Car Dealer
‘Dramatic cut coming to ZEV Mandate targets’ after PM’s intervention
ZEV Mandate targets are set to be cut in a dramatic intervention by Prime Minister Sir Keir Starmer, reports suggest.
Report warns of electric vehicle tipping point but industry pushes back
Car dealers warned of tipping point in electric car sales with a new report suggesting fuel pressures could be causing a ‘sugar rush’ effect.
Used car dealer seeks planning permission after operating for five years without approval
A car dealership in Abertillery, Wales, has been operating for five years without permission to do so, Blaenau Gwent council planners have heard.
Electric cars accounted for nearly half of UK’s biggest used car value risers in May
EVs accounted for almost half of the biggest monthly price risers in the UK used car market in May.
Weather
This morning will see variable cloud and sunny spells with some showers moving in too, reports BBC Weather. Drier this afternoon with spells of sunshine developing.
Tonight will be mostly dry with variable cloud and clear spells. A very mild night.
