6:58 am, May 20, 2026
Unemployment rate rises and vacancies slump in first signs of Iran war jobs hit
Britain’s unemployment rate has risen and vacancies tumbled to a five-year low in the first signs of the Iran war taking its toll on an already under-pressure jobs market.
Official figures showed the jobless rate rose unexpectedly to 5% in the three months to March, up from 4.9% in the three months to February.
The Office for National Statistics (ONS) revealed another slowdown in wage growth, while it said vacancies and payroll worker numbers also tumbled amid a sharp pull-back in hiring across hard-hit retail and hospitality sectors.
Investors challenge Shell over plans for long-term decline in fossil fuel demand
Investors have repeatedly challenged Shell over its plans for the potential long-term decline in fossil fuel demand at the oil major’s annual general meeting (AGM).
The company’s board defended its ongoing investments in oil and gas as shareholders gathered at the Sofitel Hotel at Heathrow Airport on Tuesday morning.
It came after a group of 21 institutional investors, led by Dutch campaign group Follow This, filed a proposal calling for the company to publish a strategy on how it plans to create shareholder value under the scenario that fossil fuel demand falls as the world transitions to clean energy.
Skoda shows off Epiq small electric SUV and confirms £24,950 starting price
Skoda has revealed its smallest EV yet – the £24,950 Epiq.
The newcomer is a small electric SUV that goes head-to-head with models like the Renault 4 and Kia EV2. With prices starting at £24,950, it costs the same as the Skoda Kamiq petrol SUV equivalent.
The Epiq uses the same new MEB+ platform as the Cupra Raval and Volkswagen’s ID.Polo and ID.Cross models. The quartet represents Volkswagen Group’s attack on the more value end of the EV market.
The markets
The FTSE 100 edged higher on Tuesday, but ended well off its earlier heights, after a surprise rise in unemployment and as US bond yields hit their highest mark since 2007.
The FTSE 100 closed up 6.80 points, 0.1%, at 10,330.55. It had earlier traded as high as 10,408.36.
In European equity markets on Tuesday, the CAC 40 in Paris ended down 0.1%, and the DAX 40 in Frankfurt advanced 0.4%.
Tuesday on Car Dealer
Group 1 Automotive announces Mark Raban is leaving and appoints new CEO
Group 1 Automotive UK CEO Mark Raban is leaving the business after two years. Current CFO Daniel McHenry will become president and CEO of the UK arm while continuing his existing finance role.
Hedin Automotive posts another year of heavy losses as car dealer group blames rising costs
Hedin Automotive posted a £7.38m pre-tax loss for 2024 despite turnover nearly doubling to £412.8m. Bosses blamed recessionary pressures, high funding costs and product recalls, while expressing optimism for improved trading in 2025.
‘A trusted benchmark’: Close Brothers urges retailers to vote in Car Dealer Power 2026
Car Dealer Power Awards 2026 provide a ‘trusted benchmark’ for the industry, according to Close Brothers Motor Finance CEO Seán Kemple, who says dealer-voted awards help reinforce trust, raise standards and strengthen partnerships.
Autotrader reveals quickest-sellers as low emission cars move the fastest from forecourts in May
Autotrader says buyers are increasingly choosing used electric and hybrid cars, with low-emission models dominating May’s fastest-selling list. The MG ZS hybrid sold quickest, averaging just 10.5 days on forecourts.
Ford outlines product offensive with five new vehicles including potential Fiesta return
Ford plans to launch five new models by 2029, including a possible revival of the Ford Fiesta as an electric hatchback. The expansion also includes new SUVs, crossovers and commercial vehicles for Europe.
HS2 could cost more than £100bn and may not open until 2039, says minister
HS2 could cost more than £100bn and may not open until 2039, Transport Secretary Heidi Alexander has announced.
The Cabinet minister told the Commons she was ‘angry’ about the ‘obscene increase in time and costs’, which she blamed on ‘the failures of successive Conservative governments’.
Ms Alexander said the expected cost of completing the high-speed railway was between £87.7bn and £102.7bn (in 2025 prices).
Andy Burnham announced as Labour candidate for Makerfield by-election
Andy Burnham will be Labour’s candidate for the Makerfield by-election, the party has announced.
Mr Burnham said he was ‘proud and humbled’ to be selected, and vowed to ensure the voices of people in Makerfield were ‘heard loud and clear’.
The decision sets up a contest between Mr Burnham and Reform UK’s Robert Kenyon, a local plumber who contested the seat for the party in 2024.
Weather outlook…
Across the UK today, southern and eastern areas should enjoy another warm day with lengthy sunny spells and only isolated showers.
The Midlands will see a mix of sunshine and variable cloud, staying mostly dry.
Northern England becomes cooler and breezier with scattered showers developing, while Scotland looks cloudier overall, with outbreaks of rain in the west and fresher conditions throughout.
