6:50 am, November 5, 2026
Bank of England set to hike interest rates to 4% to tackle rising inflation
The Bank of England is poised to hike interest rates for the first time in more than three years, economists think.
Rate-setters are widely expected to tighten monetary policy in a bid to tackle rising inflation in the UK economy.
Traders in the financial markets are predicting that rates will increase to 4% from 3.75% when the Bank’s Monetary Policy Committee (MPC) announces its next decision later today.
Burnham calls for Poundland executives to work with Government to save stores
Poundland’s owners need to find a ‘practical solution’ to keep stores open and save jobs, Andy Burnham has said.
The Prime Minister’s comments came as Business Secretary Jonathan Reynolds was set to meet the chain’s US-based owners Gordon Brothers amid Government criticism of their handling of the retailer.
Poundland filed a notice to appoint administrators last week, putting the future of its roughly 11,000 workers at risk.
Xpeng L05 heading to the UK with latest AI tech
Xpeng will look to broaden its line-up of cars with a new L05 model set to arrive next year.
The Chinese brand launched in the UK last year, opening with its G6 electric SUV which rivalled cars like the Tesla Model Y and BYD Sealion 7. It will soon be joined by the new L03, which will go up against Skoda’s Enyaq, alongside cars like the Kia EV6.
Soon, both the G6 and L03 will be joined by the L05, which will be slightly longer and more spacious than the G6.
The markets
Stocks soared in London on Wednesday, along with European and US peers, as investors weighed a decisive win for the Democrats over President Donald Trump’s Republicans in the US midterm elections.
The FTSE 100 index closed up 190.78 points, 1.8%, at 10,829.21. The FTSE 250 ended 240.78 points higher, 1.0%, at 24,915.69.
In Europe, the CAC 40 in Paris jumped 2.2%, as did the DAX 40 in Frankfurt.
Wednesday on Car Dealer
Peter Waddell must wait until 2027 to discover compensation fate after fresh High Court delay
Big Motoring World founder Peter Waddell must wait until January for a decision on whether he will receive compensation following his dismissal, as the High Court considers share valuations.
Masters of Beckenham turnover plunges after sale of last dealership
Masters of Beckenham’s turnover fell 82% to £4.67m after selling its final dealership to JCB Group, as the business shifts focus towards property and other ventures.
Family-run caravan dealer to close for good as administrators move in after 50 years of trading
Family-run Cheshire caravan dealer Leisure Sales has collapsed into administration after 50 years, putting up to 30 jobs at risk and bringing its dealership, cafe and shop operations to an end.
BMW profits fall as 8,000 job cuts and China slump force another downgrade
BMW’s third-quarter pre-tax profits fell 11% to €2.08bn as weak Chinese demand, restructuring costs and around 8,000 planned job cuts put further pressure on the manufacturer’s finances.
eStar Truck & Van boss Steve Bridge to leave following Daimler Truck takeover
eStar Truck & Van managing director Steve Bridge will leave on December 31, months after Daimler Truck UK acquired the business, taking up an independent advisory role in 2027.
From Ampera to Grandland – Vauxhall passes 100,000 electric vehicle sales in the UK
Vauxhall has surpassed 100,000 UK electric vehicle sales, reaching 102,852 since 2011, with more than 16,500 sold during the first ten months of 2026.
40 senior BYD executives descend on Glyn Hopkin dealership
Around 40 senior BYD executives inspected Glyn Hopkin’s St Albans dealership as part of a global review of retail standards, workshop facilities and aftersales operations.
Democrats sweep Congress to usher in new era as Trump acknowledges effect of war
Democrats in the US are riding their sweep of Congress into a new era, eager to meet voter demands for change with plans to tackle the high cost of living and confront President Donald Trump’s final years in the White House.
In a nationwide romp, Democrats ousted Republicans from coast to coast, with many surprising places in between, as voters rejected the president’s party for the promise of something different for the country.
Their majorities will be padded by wide margins in both the House and the Senate.
Trainline sets aside nearly £4m over competition probe into pricing tactics
Ticketing platform Trainline has seen half-year profits slump as it revealed nearly £4 million set aside to cover costs relating to a competition probe into “drip-pricing” allegations.
The £3.7 million provision comes after the Competition and Markets Authority (CMA) said in August it was investigating Trainline, as well as airline Virgin Atlantic and Red Driving School, over concerns customers were not shown full prices upfront.
The Trainline investigation focuses on whether all mandatory fees were displayed upfront to travellers buying train and coach tickets in advance, on its app and website.
Weather outlook…
Scotland and Northern Ireland will be mostly cloudy, with a few brighter spells and isolated showers.
Northern England, Wales and the Midlands can expect a largely dry but overcast day.
Southern England should also stay mostly dry, with occasional brighter intervals and temperatures reaching around 10–12C.