6:25 am, May 18, 2026
UK inflation rate set to fall as lower household energy bills offset fuel surge
UK inflation is set to have eased last month as a drop in household energy bills offset a jump in fuel prices but experts warned of turbulence ahead as the Iran energy price shock ‘catches up’ with the cost of living.
Some economists think the rate of Consumer Price Index (CPI) inflation slowed to 3% in April, from 3.3% in March. This would mean that prices were still rising year on year but at a slower rate than they were the month before.
A big driver of the expected slowdown is set to come from Ofgem lowering its energy price cap from the start of April by 7%, or £10 a month, for the average household using both electricity and gas.
Tesco boss rings up £10.8m in bumper pay and bonuses
Tesco boss Ken Murphy has bagged an extra £1m in salary and bonuses after he saw his total annual pay package swell to £10.8m.
The supermarket giant’s latest annual report showed Murphy picked up a £3.4m annual bonus and £5.7m in share awards for 2025-26, after the firm achieved £3.15bn in earnings for the year to February 28, up from £3.13bn the previous year.
The group also notched up its highest share of the market for more than a decade as sales, excluding VAT and fuel, grew by 4.6% to £66.6bn for the past year.
Caterham’s Seven Nurburgring Edition celebrates 100 years of ‘The Green Hell’
Caterham is commemorating 100 years of the famous Nurburgring with a special-edition version of its Seven.
Called the Seven Nurburgring Edition, it’s a limited-edition take on the brand’s lightweight model with only 100 examples available to order.
Priced from £48,995, the Seven Nurburgring Edition utilises a 2.0-litre Ford Duratec engine, while bespoke race suspension developed by Bilstein has been tuned ‘around the demands of the Nurburgring’. It also gets unique graphics and embroidery.
The markets
The FTSE 100 slumped on Friday as talks between the US and China failed to deliver hoped for progress on the Middle East, adding to jitters caused by domestic political uncertainty.
The FTSE 100 closed down 177.56 points, 1.7%, at 10,195.37. The FTSE 250 ended down 231.93 points, 1.0%, at 22,596.14, and the AIM All-Share fell 8.23 points, 1.0%, at 808.89.
The pound fell against the dollar to 1.3319 dollars on Friday afternoon from 1.3480 dollars on Thursday. Against the euro, sterling ebbed to 1.1462 euros from 1.1549 euros on Thursday.
Starmer’s government returns to Westminster amid leadership rivals’ Brexit row
Sir Keir Starmer’s government will return to Westminster after a battle over reversing Brexit was ignited among the rivals vying to oust him as prime minister.
Wes Streeting, who resigned as health secretary last week, signalled he wanted to see Britain return to the EU as he announced on Saturday he would stand in any Labour leadership contest.
Supporters of Andy Burnham are reportedly furious with Streeting, according to the Times, as they believe it is a deliberate attempt to raise the salience of Brexit in the leave-voting constituency of Makerfield, where the Greater Manchester Mayor hopes to stand as a parliamentary candidate.
Former Google executive Matt Brittin to begin tenure as BBC director-general
Former Google boss Matt Brittin will have his first day in the office as director-general of the BBC on Monday.
A former McKinsey consultant, Brittin worked for Google from 2007, leaving in 2025 after being the head of their EMEA region for a decade.
He takes on the role during a turbulent time for the broadcaster as it grapples with a billion-dollar lawsuit from US president Donald Trump and the fallout over a racial slur being aired during the Bafta film awards. will be £565,000, the same figure as predecessor Tim Davie, the Press Association understands.
Latest on Car Dealer
Big Motoring World takes over ex-CarShop site as Waddell threatens more legal action
Big Motoring World has confirmed a deal to take over another former CarShop site – but one man is far from happy with the deal.
Profit up 27% at car dealer John Grose Group despite falling revenue
Franchised car dealer John Grose Group reported profits were up in 2025 at its sites across Suffolk, despite turnover falling.
Less than a month until Car Dealer Power 2026 voting closes – get your nominations in now!
The motor trade now has less than a month to have its say on one of the industry’s most prestigious awards.
Jaguar Land Rover reports recovery in sales following cyber attack shutdown
British carmaker Jaguar Land Rover (JLR) has reported a further recovery in sales following its major cyber attack last year.
Weather
Early rain in the south will clear today, leaving patchy cloud and scattered showers across the UK, with a chance of thunder in eastern areas, reports BBC Weather. Later, rain spreads into the south-west and Northern Ireland.
Tonight turns windy as a band of rain sweeps north-east, followed by frequent showers in western areas by dawn.
