6:50 am, May 27, 2026
BP removes chairman Albert Manifold after ‘serious concerns’ over conduct
BP has removed chairman Albert Manifold in the face of ‘serious concerns’ related to his conduct, oversight and governance at the oil giant.
The London-listed firm said its board ‘unanimously decided that (he) should no longer serve as chair and director with immediate effect’.
The company has not disclosed any details regarding the nature of the conduct and governance issues.
Poorer drivers more likely to miss out on car finance payouts, lawyers say
Low-income drivers who relied on a loan for cheaper cars are more likely to miss out on payouts under the UK watchdog’s plans for compensation, according to new analysis.
Around 1.1 million low-value car finance agreements will not be eligible for redress through the Financial Conduct Authority’s (FCA) scheme, analysis by consumer law firm Slater and Gordon found.
This is because car finance deals involving smaller amounts of commission – £120 or less for agreements before April 1 2014, and £150 or less for after that date – are considered to be fair and are not eligible for compensation under the final rules of the scheme.
Alfa Romeo set to expand model line-up by 2030
Alfa Romeo is to develop a new C-segment hatchback and SUV as part of a major product offensive from Stellantis.
The carmaker, which owns the likes of Citroen, Peugeot, Vauxhall and Jeep, as well as Alfa Romeo, is currently aiming to introduce around 60 models across its brands by 2030 as part of its ‘FaSTLAne’ product strategy.
Bosses at Alfa Romeo say that this will include a C-segment hatchback, sitting on Stellantis’ new multi-energy ‘STLA One’ platform, that will be a successor to cars such as the Alfa Romeo 147 from the 2000s and Giulietta from the 2010s. However, there are no details on the car’s design, interior or powertrain figures at this stage.
The markets
The FTSE 100 closed higher on Tuesday, although a fall in oil major BP after the unexpected departure of chairman Albert Manifold limited gains.
The FTSE 100 closed up 25.13 points, 0.2%, at 10,491.39. The FTSE 250 ended up 160.02 points, 0.7%, at 23,327.49, and the AIM All-Share rose 12.23 points, 1.5%, at 812.46. The unexpected exit of BP chairman Albert Manifold saw shares in the oil major drop 4.0%.
In European equity markets on Tuesday, the CAC 40 in Paris ended down 1.0%, and the DAX 40 in Frankfurt fell 0.8%.
Tuesday on Car Dealer
Car dealer Dick Lovett sees profits hold firm despite hits to Jaguar, Mini and Porsche divisions
Dick Lovett maintained profits at £10.59m in 2025 despite falling turnover, impacted by zero new Jaguar sales and Mini’s agency model switch. Strong BMW and Ferrari performance helped offset weaker areas.
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Too hot to work? The rules and regulations that car dealers need to know during heatwave
Britain’s heatwave has increased pressure on dealerships to protect staff from extreme temperatures, with experts urging bosses to provide water, breaks and ventilation while unions call for maximum workplace temperature limits.
Arnold Clark to sell car for just £1 as dealer group celebrates the opening of first Welsh dealership
Dealer group Arnold Clark is celebrating the opening of its first Welsh showroom with a special promotion offering one customer the chance to buy a mystery new car for just £1 at its new Cardiff site.
Reynolds and Reynolds promotes Tom Mylott to UK managing director
Reynolds and Reynolds has promoted Tom Mylott to managing director of its UK operations as the automotive software giant looks to drive innovation and expand its European business.
Oil and gas has long-term future if UK Government backs industry, report says
The UK risks accelerating the decline of the oil and gas industry despite overwhelming industry belief that the basin could still have a long-term future, a report has warned.
The paper by Aberdeen and Grampian Chamber of Commerce found 93% of the businesses it surveyed agreed there is still a future for the North Sea if the right economic conditions are created.
The 43rd Energy Transition report said confidence in the fossil fuel industry is weak due to financial instability, planning delays, transmission charging and slow project consenting, rather than a lack of opportunity or capability in the sector.
Less than half of people feel confident about investing – survey
Less than half of people describe themselves as confident investors, with men significantly more likely than women to say this, a survey has found.
Just over two-fifths (44%) of people describe themselves as confident investors, rising to more than half (57%) of men, compared with just 31% of women, Aviva said.
Six in 10 (61%) people surveyed think some people are “born investors” rather than learning how to invest as a skill.
Hottest May day record broken again as temperatures reach 35C
The record for the hottest May day has been broken again, with provisional temperatures surpassing 35C in London, the Met Office has said.
Temperatures on Tuesday exceeded Monday’s provisional all-time hottest meteorological spring temperature of 34.8C recorded in Kew Gardens in south-west London.
The UK Health Security Agency (UKHSA) said amber heat-health alerts for the South West, South East, London, East and West Midlands and the East of England will remain in place until 5pm on Thursday, with yellow heat-health alerts for the North West and North East.
