6:58 am, November 4, 2026
Virgin Media O2 cutting thousands of jobs in cost savings overhaul
Virgin Media O2 has confirmed plans to axe thousands of UK jobs under aims to slash costs by around £800m a year by 2029 as it battles intense competition and a mounting debt pile.
The telecoms giant said the bulk of the cost savings – about £300m – will come from job cuts among its 16,000-strong workforce in the UK, with aims to reduce its staff costs by around 30%.
It did not confirm how many roles will go, but said most of those affected would not be customer facing.
Financial watchdog ‘stands ready’ to take action over potential Budget leak
The financial watchdog has said it stands ready to take action over a potential leak of market-sensitive information which appeared to raise bank share prices before the Budget.
The Financial Conduct Authority (FCA) said it would engage with the Treasury and Cabinet Office over concerns that details of changes to bank taxes emerged before chancellor John Healey delivered his fiscal statement last week.
It follows concerns raised by Treasury Committee chairwoman Dame Meg Hillier that a potential leak of market-sensitive information may have led to bank shares increasing in value.
Fiat’s Topolino range gains Dolcevita soft-top
Fiat has opened its convertible Topolino up to a wider audience with a new Dolcevita model.
Previously, the opening soft-top roof was only available on special-edition cars, but it has now been integrated into the broader Topolino line-up.
Dolcevita is the new range-topping model thanks to that folding fabric roof, which rolls back manually rather than via an electric track. Once out of the way, it can be secured in place to stop it rolling back out again. It’s priced from £9,495.
The markets
Stocks in London have ended lower on Tuesday as a fresh US strike on Iran added to market nerves ahead of mid-term elections across the pond.
The FTSE 100 index closed down 122.90 points, 1.1%, at 10,638.43. The FTSE 250 ended 120.94 points lower, 0.5%, at 24,674.91, and the AIM all-share declined 3.32 points, 0.4%, at 754.60.
The pound was quoted at 1.3416 dollars late on Tuesday afternoon, little moved from 1.3417 dollars at the same time on Monday. Against the euro, sterling firmed to 1.1986 euro from 1.1980 euro.
Public will expect me to grab EU deal with both hands, Burnham claims
The public will expect the government to grab ‘with both hands’ the opportunity to boost economic growth through closer trade ties with the EU, Andy Burnham has said.
The prime minister defended plans to accept a new agreement with Brussels on food and farming as he attended the Commonwealth Heads of Government Meeting in Antigua.
Burnham wants to lock in deals on food and drink, emissions trading and a youth mobility scheme at a Brussels summit on November 20.
Democrats win control of US Senate in midterms as Trump branded ‘lame duck’
Donald Trump has been branded a “failed lame duck president” after the Democrats inflicted a string of historic defeats against the Republicans to take control of US Congress.
In a remarkable sweep, the Democrats won a Senate majority and picked up seats in the former Republican strongholds of Texas, Kansas, South Carolina and Ohio.
Several US major media outlets have reported that Democrats are also projected to regain control of the House of Representatives, which they last held in 2023.
Tuesday on Car Dealer
‘Devastated’ family-run car dealership closes after 11 years as it falls victim to alleged fraud
A premium car dealership has announced its shock closure after 11 years, with bosses claiming that the business has fallen victim to fraudsters.
Barclays to offer car finance mis-selling payouts ahead of court ruling
Barclays is set to offer early compensation payouts to motorists caught up in the car finance mis-selling scandal, despite delays to the industry-wide redress scheme.
Bumper prizes to be won at Used Car Awards 2026 as tickets sell fast
Guests attending the 2026 Used Car Awards will have the chance to walk away with a host of fantastic prizes, but tickets are selling fast!
Podcast: Traditional franchise model needs to change to keep car dealers profitable
The traditional franchise model needs to change if car dealers are to remain sustainably profitable.
Family-run Struans Motors opens second Mazda dealership after 45-year partnership
Family-run dealer group Struans Motors has expanded its relationship with Mazda by opening a second franchise in Scotland.
Arnold Clark opens new Telford Motorstore as expansion creates 30 jobs
Arnold Clark has opened a new Motorstore in Telford, creating almost 30 jobs and offering customers a choice of more than 250 vehicles on site.