6:37 am, June 17, 2025
UK-US trade deal is ‘done’, Donald Trump says as he meets Keir Starmer at G7
The UK-US trade deal has been signed and is ‘done’, US president Donald Trump said as he met with Sir Keir Starmer at the G7 summit.
The prime minister said the completed deal ‘implements on car tariffs and aerospace’, and described the agreement as a ‘sign of strength’ between Britain and America.
However, as the two leaders met at the G7 summit in Kananaskis, Alberta, there was a signal from the president that agreement about tariffs on British steel exports to the US could take longer to finalise.
Third of businesses planning further job cuts after national insurance hikes
A third of business owners have said they plan to cut more jobs after being hit by higher national insurance contributions (NICs) in April, according to new research.
Many companies have also suggested they will cut back hours, freeze pay and hike prices in order to help cover increased tax payments.
S&W’s business owners sentiment survey revealed around 20% of those quizzed said they have already reduced their staff numbers as a ‘direct result’ of the NICs changes which came into effect in April.
Golf GTI Edition 50 sets new lap record at the Nurburgring for Volkswagen road cars
The Golf GTI Edition 50 has just broken the lap record around the famous Nurburgring race track, Germany, for the fastest road-going Volkswagen ever.
It set a lap time of 7:46.13 minutes around the 13 mile track and was being driven by racing driver Benny Leuchter – which is 1.2 seconds faster than his last record which was broken in 2022 in a Volkswagen Golf R.
As an option, the GTI Edition 50 will be available with a Performance Package, which includes tweaks to the chassis setup and lightweight 19-inch semi-slick Bridgestone tyres – specifically made for the car. It will be showcased at the 24 Hours of Nurburgring on June 20, with more details revealed in due course.
The markets
The FTSE 100 ended higher on Monday, just shy of a record closing high, on reports Iran is willing to resume nuclear talks with the US.
The FTSE 100 index closed up 24.59 points, 0.3%, at 8,875.22, just shy of its record closing peak of 8,884.92 posted last Thursday and the all-time high of 8,908.82, recorded in March. The FTSE 250 ended 110.69 points higher, 0.5%, at 21,284.02, and the AIM All-Share rose 2.71 points, 0.4%, at 764.14.
The pound was quoted slightly higher at 1.3594 dollars at the time of the London equities close on Monday, compared to 1.3591 dollars on Friday.
G7 leaders say Iran is ‘principal source of instability’ in Middle East
G7 leaders have described Iran as ‘the principal source of regional instability and terror’ as conflict rages in the Middle East.
The conflict between Israel and Iran has been top of the agenda at the leaders’ summit, taking place in Canada.
In a statement agreed at the summit, leaders of the world’s major economies, including Sir Keir Starmer, said they ‘affirm that Israel has a right to defend itself’.
Louise Casey to appear before MPs after major review of child grooming failures
The author of the major review into grooming gangs which found authorities have ‘shied away’ from the ethnicity of sex offenders will face questions from MPs.
Baroness Louise Casey will appear before the Commons Home Affairs Committee on Tuesday morning, after the Government set out plans to launch a new nationwide inquiry into grooming gangs following her rapid review of the scandal.
Home secretary Yvette Cooper claimed officials have dodged the issue of ethnicity among the groups of sex offenders for fear of being called racist, even though available data showed suspects were disproportionately likely to be Asian men.
Monday on Car Dealer
Peugeot boss says Chinese brands are making ‘everybody up their game’ as she welcomes competition
Peugeot UK boss Nicola Dobson sees Chinese car brands’ UK arrival as healthy competition, pushing legacy firms to improve and innovate. She welcomes ZEV mandate changes, says Peugeot remains compliant, but urges better public charging infrastructure to meet EV targets.
How The Clever Car Collection’s Japanese imports became a challenge for Joe Wallington
Joe Wallington from The Clever Car Collection joins the Car Dealer Podcast, and discusses the firm’s foray into the world of Japanese imports and his unique route to the motor trade.
Renault boss Luca de Meo quits automotive industry to become boss of Gucci owner
Renault CEO Luca de Meo will step down on July 15 after five years, amid reports he’ll become CEO of fashion giant Kering. Praised for transforming Renault, de Meo leaves the automotive industry to pursue new challenges beyond the sector.
GWM opens three new showrooms as Chinese brand ramps up UK dealer network
Chinese carmaker GWM has expanded its UK dealer network with new sites in Sutton-in-Ashfield, Penicuik, and Wincanton. With 46 locations and more planned, GWM aims for 100 centres in five years as it accelerates growth alongside rival Chinese brands.
Eden Motor Group boss Graeme Potts appointed IMI chair in ‘huge moment’ for industry
Eden Motor Group CEO Graeme Potts has been appointed chair of the Institute of the Motor Industry, a move hailed as a major moment for the sector. The new leadership aims to address the automotive skills gap and drive industry progress.
Weather
Today, light rain will drift into northern England and Wales, while Scotland sees sunny spells and scattered showers, reports BBC Weather. Southern areas remain warm and sunny, with highs of 27 degrees.
Tonight will be mostly dry with clear skies, though cloud will affect parts of Wales and rain will reach north-west Scotland.
