6:35 am, June 19, 2026
Bank of England holds interest rates at 3.75% but says inflation still to rise
The Bank of England has held interest rates at 3.75% as it cautioned that the cost of living was still set to rise this year because of the fallout from the Iran war.
Policymakers nonetheless said that a recent fall in energy prices meant it was no longer expecting inflation to go as high as it was in April.
Seven of the Bank’s nine-person Monetary Policy Committee (MPC) voted to keep interest rates the same at the latest meeting, while two opted to hike them to 4%.
Tesco sales growth slows amid ‘uncertainty’ linked to Iran conflict
Supermarket giant Tesco has revealed a weaker-than-expected increase in sales for the past three months amid ‘uncertainty’ linked to the Middle East crisis.
The retailer revealed that total sales increased by 1% to £16.8bn over the 13 weeks to May 30, compared with a year earlier. Tesco UK and ROI (Republic of Ireland) saw like-for-like sales grow by 1.8% on the back of positive growth in food sales.
Nevertheless, it represented a slowdown in growth compared with the prior quarter.
Dacia to continue Spring name for new EV
Dacia has confirmed that it will continue to use its Spring nameplate on a new electric car.
Predicted to be unveiled at the Paris Motor Show in October, the ‘new’ Spring is expected to be sold alongside the existing Spring model, with ‘new’ used to differentiate the two.
However, whereas the current Spring is made in China and pitched as a true city car, the ‘new’ Spring will sit on the same platform as the current Renault Twingo, which will allow it to bring more interior space and a larger boot.
The markets
The FTSE 100 fell on Thursday after the Bank of England left rates unchanged, with a ‘hawkish’ hold by the US Federal Reserve weighing on the market mood.
The FTSE 100 closed down 108.91 points, or 1.0%, at 10,399.70. The FTSE 250 ended down 34.01 points, 0.2%, at 23,330.72, while the AIM All-Share fell 7.79 points, 1.0%, to 800.04.
The pound traded at 1.3246 dollars on Thursday afternoon, down from 1.3393 dollars on Wednesday. Against the euro, sterling ebbed to 1.1541 euros from 1.1554 euros on Wednesday.
Andy Burnham says Makerfield win can be ‘turning point’ for British politics
Andy Burnham said Labour had a ‘final chance to change’ after his decisive win in the Makerfield by-election set up a showdown with Sir Keir Starmer.
Allies of Burnham called on the prime minister to hand over power after he defied national trends to increase Labour’s share of the vote in a seat where Nigel Farage’s Reform UK made sweeping gains in last month’s local elections.
The prime minister, who has insisted he will not quit and will fight any leadership challenge, praised his rival’s victory, writing on social media: ‘Congratulations, @AndyBurnhamGM, Labour’s new MP for Makerfield. Voters chose Labour’s campaign of hope and optimism over division and hate.’
‘Evil monster’ will die in prison for sex abuse and murder of adopted baby
A ‘sadistic’ school teacher who murdered his adopted baby during a sex attack was described as an ‘evil monster’ as he was told he will die in jail.
Paedophile Jamie Varley, 37, a former head of year at a high school, inflicted ‘unremitting abuse’ on 13-month-old Preston Davey before a final, fatal, sexual assault took his life, Preston Crown Court heard.
Varley, who adopted the child with his partner, John McGowan-Fazakerley, 32, was given a whole life term and told he will never be eligible for parole after his conviction for a murder that ‘shocked the nation’.
Thursday on Car Dealer
Ford specialist Foray Motor Group posts reduced profits as firm is sold to its employees
Specialist Ford dealer Foray Motor Group has seen its profits dip in a year which saw the firm sold to its employees.
Jaguar Land Rover targets £1.7bn cost cuts as luxury car buyers fuel growth plans
Jaguar Land Rover is looking to cut costs by as much as £1.7bn but hopes that luxury car buyers can provide exactly the catalyst for growth the firm needs.
Mark Raban’s Group 1 departure finalised as Companies House filing makes move official
Mark Raban’s departure from Group 1 Automotive has been made official after he was terminated as a director of the dealer group.
One in five drivers miss MOT, tax or car insurance deadlines, new study finds
Motorists are being left at risk of penalties due to forgetting to carry out essential admin.
Weather
Scotland, Northern Ireland and northern England will see a largely cloudy day with outbreaks of rain, some heavy at times, while Wales faces patchy rain, reports BBC Weather. Southern and eastern England will enjoy hot, sunny conditions.
Tonight, cloud and rain spread southwards across England and Wales, with showers continuing in Scotland and Northern Ireland, while the south-east stays mostly dry with clear spells.
