6:30 am, November 11, 2026
Another rate hike likely in ‘near term’ to calm inflation, says Bank policymaker
UK interest rates could be hiked again in the near future if soaring inflation does not ease back, according to Bank of England deputy governor Clare Lombardelli.
The senior policymaker warned in a speech there is a risk that inflation will rise by more than feared as the Iran war sends costs surging, which would need further action on rates to cool inflationary pressures.
The Bank’s monetary policy committee voted to raise rates from 3.75% to 4% last week, marking the first increase for more than three years. It forecast inflation jumping to around 5% in the second quarter of 2027, up from 3.5% currently.
Vodafone axed another 3,000 jobs in first half amid cost-cutting overhaul
Telecoms giant Vodafone has revealed it cut 3,000 roles across its European and global support services operations in the first half of the year as it slashes costs to boost growth.
The group said the jobs cull came as it stripped out 200 million euros (£165.4m) in costs throughout its UK and European business, including 50 million euros (£41m) of savings in the UK after its deal to merge with Three UK in 2025 to create VodafoneThree.
It did not say how many jobs were axed in the UK, where it is headquartered.
Polestar’s Formula 2030 Concept points towards future of the brand
Polestar has unveiled what it believes to be an insight into the future of its cars – the Formula 2030 Concept.
While just in concept form for now, the four-door sports car has been created as an embodiment of ‘the evolved values that define the brand: design, performance and sustainability’.
Positioned between the new replacement for the Polestar 2 and the larger Polestar 7 SUV, the electric Formula 2030 Concept measures in at just over 4.6 metres long and just over two metres wide. In terms of dimensions, it’s only slightly longer than the just-discontinued Polestar 2, making it a relatively compact car overall.
The markets
The FTSE 100 has closed lower in London as early advances evaporated in the wake of another strong US inflation print.
The FTSE 100 index closed down 31.28 points, 0.3%, at 10,751.59. It had earlier traded as high as 10,868.51. The FTSE 250 ended 40.31 points higher, 0.2%, at 24,746.65, and the AIM all-share shed 1.85 points, 0.2%, at 759.54.
The pound was quoted at 1.3323 dollars late Tuesday afternoon, down from 1.3415 dollars at the same time on Monday. Against the euro, sterling declined to 1.1949 euros from 1.1974 euros.
David Walliams sexual misconduct allegations spark calls for better safeguarding
Allegations of sexual misconduct and grooming against David Walliams have sparked calls to make it easier to report concerns about the behaviour of powerful celebrities.
The best-selling author and former Britain’s Got Talent judge was named as part of an investigation by the Guardian and ITV News involving accusations of grooming teenage girls as young as 15 and abusing his position to pursue women.
Culture secretary Lisa Nandy said the claims were the ‘latest in a long line of reported abuses of power’ while comedian Lucy Beaumont called for better industry safeguarding processes.
No 10 insists British air bases safe after US aircraft moved from RAF Mildenhall
Downing Street has insisted British air bases are safe and their security is a ‘top priority’ after US aircraft were moved from RAF Mildenhall.
Several American refuelling tankers were diverted from the site to Germany and other locations in the wake of a threat from Iran, the Wall Street Journal reported.
The exact nature of the threat is not known and remains under discussion among US officials, according to the newspaper.
Monday on Car Dealer
Used EV prices surge in October as Polestar 2 tops biggest risers
Used electric car prices continued to surge in October, with the Polestar 2 recording a remarkable 7.5% increase in value in just one month.
Daksh Gupta warns dealers could get ‘burned’ as nearly-new stock competes with Chinese brands
Former Marshall Motor Group boss Daksh Gupta has warned car dealers they could get ‘burned’ by holding too much nearly-new stock as aggressive deals from Chinese manufacturers threaten used car values.
ZEV mandate shake-up: Government denies decision made to cut EV sales targets
The government has made no decision yet on watering down the ZEV Mandate, despite rumours that sales targets are to be slashed.
Weather
Rain will affect Wales, the Midlands and southern England this morning before clearing during the afternoon, reports BBC Weather. Northern areas will enjoy sunshine, although rain reaches northern Scotland.
Tonight will be cold and mostly clear, with isolated coastal showers. Northern Scotland stays windy, with showers turning wintry over higher ground.