6:27 am, June 2, 2026
UK manufacturing growth strikes four-year high despite rising inflation
Activity across UK factories grew at the fastest pace for four years last month despite pressure from soaring inflation, according to new figures.
The S&P Global UK manufacturing PMI survey, watched closely by economists, showed a reading of 53.9 in May, up slightly from 53.7 in April. It was higher than expected by analysts.
Nevertheless, economists indicated that the acceleration in manufacturing growth might not last long.
EasyJet says takeover tilt from US firm would be ‘highly opportunistic’
Budget airline easyJet has branded a possible takeover approach from Castlelake as ‘highly opportunistic’ and confirmed it has not held talks with the US investment fund.
Private credit company Castlelake revealed late on Friday, after the stock market close in London, that it was in the early stages of considering an offer for easyJet, but had not yet approached the firm’s board.
The American firm, which confirmed it owns a stake of around 2.14% in easyJet through shares held on behalf of funds it manages, said on Monday any offer would be for ‘no less than’ 403.23p a share, valuing the airline at a minimum of £3.06bn. Shares closed on Friday at 398p each.
‘Time warp’ Rolls-Royce heads to auction with just 604 miles on the clock
A 1977 Rolls-Royce Silver Shadow I which has covered just 604 miles since leaving the factory is heading to auction.
In 1993, the Silver Shadow I was placed into storage, having covered 590 miles and in 1998, it was brought to the road once again for a family wedding. Since then, the Rolls-Royce has been kept in a climate-controlled garage, sitting on axle stands to help preserve its tyres and wheels. A tailored cover has been used to stop the deterioration of the paint, too.
Accompanied by an estimate of between £70,000 and £90,000, the Silver Shadow I will go under the hammer at the H&H Classics auction on June 17 at Kelham Hall, Nottinghamshire.
The markets
The FTSE 100 closed lower on Monday amid reports Iran has suspended peace talks with the US.
The FTSE 100 closed down 70.33 points, 0.7%, at 10,338.95. The FTSE 250 ended down 179.99 points, 0.8%, at 23,245.78, while the AIM All-Share fell 2.01 points, 0.2%, to 819.24.
The pound traded at 1.3447 dollars on Monday afternoon, down from 1.3479 dollars on Friday. Against the euro, sterling firmed to 1.1570 euros from 1.1543 euros on Friday.
Starmer to chair Cabinet after Mandelson files lay bare splits
Sir Keir Starmer will chair a meeting of his Cabinet on Tuesday after messages released in relation to Lord Peter Mandelson’s appointment as UK ambassador to the US laid bare splits within Labour.
Sir Keir sacked Lord Mandelson in September 2025 after growing pressure to remove him from office following leaked emails which showed the peer sent supportive messages even as Jeffrey Epstein faced jail for sex offences. MPs voted earlier this year to force the disclosure of documents relating to his time as ambassador.
The more than 1,000 pages of documents in the second tranche released on Monday included records of WhatsApp exchanges between Lord Mandelson and work and pensions decretary Pat McFadden that revealed the latter’s frustration with his colleagues.
Trump says talks with Iran are continuing at ‘a rapid pace’, amid fresh strikes
Talks with Iran are continuing ‘at a rapid pace’, Donald Trump has said having earlier cast doubt over the negotiations and following fresh exchanges of fire between the two sides.
A proposed deal to extend the fragile ceasefire, reopen the Strait of Hormuz and hold talks on Tehran’s disputed nuclear plans appeared to have been left in limbo after the US president said he was looking to make a “final determination” on Friday.
In interviews on Monday, Trump also appeared to play down the prospect of an agreement, telling broadcasters he ‘couldn’t care less’ if discussions with Iran were over and felt they had been ‘talking too much’.
Monday on Car Dealer
Who has bought £20m stake in listed car dealer group Vertu?
A mystery buyer has snapped up a 7.5% stake in listed car dealer group Vertu Motors.
MG confirms new Spain plant as part of plans for European growth
MG has announced is will be opening a new manufacturing plant in Galicia, Spain, and bringing its manufacturing back to Europe.
The last of the Saabs go under the hammer in Sweden for more than £79,000
The final Saabs to leave the factory have finally sold at auction 15 years after they went out of production, attracting enthusiasts from around the world.
Drop in used car sales at Burton Kia dents profits despite turnover growth
Burton Kia saw turnover increase at the dealership in 2025 but profit dropped slightly during the same period.
Lithia UK wraps up deal for trio of JLR sites as Group 1 continues to dispose of brand
Lithia UK has confirmed a deal to buy three JLR sites from Group 1 Automotive as it looks to grow its UK dealer network.
Family-run car dealership to close after 60 years following owner’s ’emotional’ retirement
A family-run used car dealership is to close after more than six decades, following the owner’s ’emotional’ decision to retire.
Chinese brands help power Toomey Motor Group to £3.25m profit in 2025
Toomey Motor Group has posted a sharp uplift in profits after a year of expansion which saw the business grow turnover beyond £320m and open several Chinese carmaker showrooms.
Podcast: From dropping bars to selling cars: How former DJ became a hit in the motor trade
David Gott spent 25 years working as a professional DJ, playing all over the world including to packed out clubs in Magaluf before becoming a car dealer.
We’ve got to defend our territory, says VW boss as Chinese car brands soar
Volkswagen executive Thomas Schafer believes his firm’s new electric models are enough to battle the Chinese newcomers.
Weather
Variable cloud and scattered showers will affect many areas today, with some turning heavy and thundery during the afternoon, reports BBC Weather. Conditions will become drier from the west later, with brighter skies developing.
Tonight starts mostly dry, but rain will spread into Northern Ireland, Wales and south-west England before dawn.
