6:57 am, May 21, 2026
Planned fuel duty rise axed amid high pump prices
A planned increase in fuel duty has been scrapped to help motorists faced with rising pump prices as a result of the war in Iran.
Prime Minister Sir Keir Starmer told MPs the 5p per litre fuel duty cut introduced by the Conservative government in March 2022 would be extended for the rest of the year.
That means the rate will remain nearly 53p per litre.
Stellantis and JLR to work together on US car development
Stellantis and JLR have signed a memorandum of understanding that will see the pair work together on product development in the United States.
Under the non-binding agreement, both car makers will look to ‘create value’ by developing both product and technology for the American market.
Antonio Filosa, chief executive officer of Stellantis, said: ‘By working with partners to explore synergies in areas such as product and technology development, we can create meaningful benefits for both sides while remaining focused on delivering the products and experiences our customers love.’
Mercedes-AMG brings electric performance with GT 4-Door Coupe
Mercedes-AMG has revived its GT 4-Door Coupe as an electric performance car.
While the previous AMG GT 4-Door Coupe was available with combustion engines, this new model has swapped to an entirely battery-powered setup.
Now, the GT 4-Door brings 1,153bhp, enabling a 0-60mph time of just two seconds and a top speed of 186mph. However, it also brings a range of up to 285 miles, while a charging capacity of 600kW means that a 10 to 80 per cent charge can be completed in 11 minutes.
The markets
The FTSE 100 rallied into the close on Wednesday and the oil price fell on fresh hopes for progress in peace talks between the US and Iran.
The British stock index closed up 101.79 points, 1.0%, at 10,432.34. It had earlier traded as low as 10,279.07.
In European equity markets on Wednesday, the CAC 40 in Paris ended up 1.7% and the DAX 40 in Frankfurt advanced 1.4%.
Wednesday on Car Dealer
Dodgy car dealer banned from the motor trade after admitting to fraudulent trading
Stellantis to build Chinese EVs in Europe after signing up to new Dongfeng joint venture
Car dealer Brindley agrees franchise deal to open its first Lepas showroom
Government hails trade deal with Gulf states ‘worth £3.7bn a year’ to UK economy
The UK has become the first G7 country to agree a trade deal with a bloc of Gulf states, in an agreement the Government said would boost the economy by an estimated £3.7bn every year.
The deal with the Gulf Cooperation Council (GCC) – an alliance including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates – would also increase domestic wages by £1.9bn annually in the long run, the Government said.
Under the free trade agreement, tariffs will be removed on exports such as food, medical equipment and advanced manufacturing, while the deal includes ‘first-of-its-kind’ GCC commitments on the free flow of data.
We may have cut interest rates twice this year if not for Iran war – Bank chief
UK interest rates may have been cut twice this year were it not for the Iran war, the Bank of England’s chief has said, as he warned that potential supermarket price controls were ‘not sustainable’ in the long run.
Bank governor Andrew Bailey told MPs on the Treasury Committee that inflation also may have fallen to its 2% target level last month but the energy shock was keeping the cost of living higher.
The conflict has been the ‘dominating change in the landscape’ for the economy, he said.
Temperatures of up to 30C forecast for bank holiday weekend
Britons are set to experience temperatures of up to 30C over the bank holiday weekend, with parts of the UK forecast to be hotter than some popular Greek holiday destinations, meteorologists have said.
The Met Office said the country could experience its warmest day of the year so far as a heatwave develops over the coming days.
Forecaster Tom Morgan said there was a 40% chance temperatures could climb to 33C in parts of southern England on Sunday, which could make it the warmest May day on record. The current May temperature record stands at 32.8C, recorded in Camden Square, London, in 1922.
