6:50 am, May 8, 2026
Shell under fire over ‘outrageous’ profits after boost from soaring oil prices
Shell has become the latest oil giant to face criticism over mammoth profits after it revealed a bumper earnings haul thanks to rocketing oil prices caused by the Iran war.
The FTSE 100 firm reported underlying earnings of $6.92bn (£5.09bn), more than double the result in the previous three months and 24% higher on a year ago. Most analysts had expected the group to report profits of $6.36bn (£4.67bn).
Campaigners took aim at the group over its ‘outrageous’ profits at a time when households and businesses are suffering from painful price rises at the fuel pumps and facing soaring costs across the board caused by the war.
Google facing £3bn legal claim accusing it of monopolising display ads market
Google is facing further legal action in the UK on behalf of advertisers alleging it monopolises the market for display advertising.
A group making a claim against the technology giant is seeking damages estimated to be in the region of up to £3bn.
AGC Collective Actions Limited, represented by law firm KP Law, has filed an application for proceedings with the UK’s Competition Appeal Tribunal.
Porsche’s Taycan Turbo GT with Manthey Kit sets new Nurburgring record
Porsche has set a new record around the famous Nurburgring Nordschleife with a hardcore version of its Taycan Turbo GT.
Now equipped with the Manthey Kit, the electric Taycan managed to lap the ‘Green Hell’ in 06:55.533, eclipsing the previous record in the ‘electric executive cars’ class – also set by a Taycan – by nine seconds.
The new Manthey Kit introduces an extensive range of aerodynamic, suspension and motor upgrades to the Taycan, helping it to deliver the highest level of performance.
The markets
The FTSE 100 struggled on Thursday on a mixed day for stocks in London, and despite fresh falls in the oil price, as investors await fresh developments in the Middle East.
The London-based index closed down 161.71 points, 1.6%, at 10,276.95. The FTSE 250 ended up 50.30 points, 0.2%, at 22,882.72, and the AIM All-Share rose 9.70 points, 1.2%, at 818.32.
In European equities on Thursday, the CAC 40 in Paris ended down 1.2%, and the DAX 40 in Frankfurt ebbed 1.0%.
Thursday on Car Dealer
Alexanders Prestige returned to profit in 2025, posting £585,533 pre-tax earnings after a previous loss. Turnover rose 12.5% to £77.9m, with bosses citing improved market conditions, resilience and strong financial discipline behind the recovery.
Car Dealer Power is back with a new category in 2026 – get your votes in now!
Car Dealer Power Awards 2026 has introduced a new Trade Insurance category for 2026, recognising insurers supporting dealerships. Dealers can vote until June 11, with winners across 23 supplier categories announced on July 14.
Land Rover Discovery named Britain’s most unreliable used car as brand dominates list
The Land Rover Discovery was named the UK’s most unreliable used car by Warrantywise, while the Toyota Yaris ranked most reliable. Large SUVs and executive models recorded the highest repair costs and fault rates.
Farage says Reform on course for general election win after early local gains
Nigel Farage suggested Reform UK was on course for a general election victory after taking council seats from Labour in early local election results.
Sir Keir Starmer’s party was haemorrhaging seats as local authorities began declaring overnight, in a set of contests that could prove decisive for his premiership.
Reform’s gains exceeded 210 seats when results were in from 37 of the 136 councils in the early hours of Friday, while Labour lost more than 160, including in its traditional northern heartlands.
Man to appear in court after allegedly threatening Andrew on Sandringham Estate
A man will appear in court after being charged with allegedly threatening Andrew Mountbatten-Windsor near his new home on the Sandringham Estate.
The former Duke of York was out walking his dogs when the incident occurred in Wolferton, close to his Marsh Farm property, shortly after 7.30pm on Wednesday, the Telegraph reported previously.
Alex Jenkinson, 39, of Stowmarket, Suffolk, has been charged with two counts of using threatening, abusive or insulting words or behaviour to harass someone or cause alarm or distress, Norfolk Constabulary said on Thursday night.
Weather outlook
High pressure is expected to keeps most areas settled and dry, today.
Southern and eastern regions should enjoy the best sunshine with pleasantly mild temperatures. The Midlands will see variable cloud but largely dry conditions.
Northern England stays cooler with isolated showers possible, while Scotland experiences a mix of sunny spells and cloudier patches, alongside a fresher breeze in places.
