Chancellor to set out action as surging prices spark profiteering fears

The chancellor will set out steps to protect the public from ‘unfair price rises’ after Sir Keir Starmer said he was looking at boosting the competition regulator’s powers to deal with profiteering amid surging oil and fuel prices.

Rachel Reeves will outline action she is set to take in a statement to MPs on Tuesday after laying out her plans to the Prime Minister and colleagues in an emergency Cobra meeting on Monday afternoon.

Those will include an ‘anti-profiteering framework’ to detect and crack down on companies exploiting the Middle East crisis and help the Competition and Markets Authority root out price gouging.

Danone to buy British nutrition firm Huel

Food and drink giant Danone has agreed to buy British meal replacement firm Huel.

Bosses said the deal will help accelerate Huel’s growth ambitions and drive its international expansion.

Hertfordshire-based Huel was founded by Julian Hearn in 2015 to provide nutritionally complete food products, aimed at reducing meal times and providing essential nutrients. The companies have not disclosed the value of the deal but the Financial Times reported that it values the British business at around one billion euros (£870m).

Fiat introduces new petrol powertrain on 600 SUV

Fiat has announced that the 600 SUV range is expanding with a new petrol option.

The 98bhp 1.2-litre three-cylinder turbocharged unit uses a chain rather than a cambelt, and features new pistons and a turbocharger. It’s also paired with a six-speed manual gearbox,

The 600 range also gains a new 2,0000-unit-limited ‘Street Launch Edition’ variant, boasting black Fiat logos, door handles and front grille, 18-inch black alloy wheels and a rear ‘Street’ badge located on the tailgate.

The markets

The FTSE 100 ended a rollercoaster day in the red on Monday, although it was well above earlier hefty lows on hopes of an end to the Iran war.

The FTSE 100 index closed down 24.18 points, 0.2%, at 9,894.15. The FTSE 250 was down 95.31 points, 0.5%, at 21,246.66, above an early low of 20,626.98. The Aim All-Share was down 4.75 points, 0.7%, at 713.42, after falling as low as 693.87.

The pound was quoted higher at 1.3390 dollars at the time of the London equities close on Monday, compared to 1.3323 dollars on Friday. The euro stood at 1.1579 dollars, higher against 1.1561 dollars. Against the yen, the dollar was trading lower at 158.79 yen compared to 159.20 yen.

Downing Street welcomes ‘postponement’ of US strikes on Iranian power plants

Downing Street has welcomed US president Donald Trump’s decision to ‘postpone’ strikes on Iranian energy infrastructure following talks with Tehran.

Trump had threatened to obliterate Iran’s power plants if the country did not reopen the vital Strait of Hormuz by just before midnight on Monday night.

But in a post on his Truth Social platform, the US president said he would delay the strikes by five days following ‘very good and productive conversations’ with Tehran over the previous two days.

UK ‘urgently’ needs more domestic oil and gas from North Sea, trade body says

The UK ‘urgently’ needs to produce more domestic oil and gas from the North Sea, an industry body has claimed.

Analysis from Offshore Energies UK (OEUK) found that using North Sea gas has a lower emissions footprint than liquified natural gas (LNG) from overseas.

A new OEUK report has called on the UK government to back domestic oil and gas alongside renewables to secure energy supply, including drilling in the North Sea. It also claims the UK will continue to need significant volumes of oil and gas for decades to come, even with accelerating use of renewables.

Monday on Car Dealer

Car Dealer Live podcast features highlights from our big event

A special podcast to showcase just some of the highlights of our Car Dealer Live event has been released.

‘We could protect ourselves’: Chinese car brands ‘not worried’ about potential of ‘punishing’ UK tariffs

Chinese carmakers are not worried about the impact potential tariffs in the UK, as brands continue to wrestle market share from more established competitors.

Supply squeeze, EV surge and AI: the three big challenges for dealers in 2026

The UK motor trade has entered a period of significant structural change, as supply pressures, shifting consumer behaviour and the rise of AI reshape the market, believes Autotrader.

Court hears that Waddell’s dyslexia is ‘severe’, as expert rejects exaggeration claims

A medical professional who assessed Peter Waddell as part of his High Court trial says that the Big Motoring World founder suffers from ‘severe’ dyslexia that would be ‘nearly impossible’ to fake.

Weather

Heavy rain develops across northern England and later Wales today, with patchier rain further north and west, while the south-east stays cloudy but dry, reports BBC Weather. It will be windy.

Tonight, rain clears south-eastwards, leaving showers, some turning wintry over northern hills, alongside clear spells and continued strong winds.

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