6:50 am, November 9, 2026
Government issued £33m tax revision for firms after Budget
The Government revised property tax discounts for businesses across the UK days after details were issued to councils.
High street businesses will receive £33m more in discounts than councils were initially told, after a correction was issued last weekend.
Original guidance to councils in England had initially failed to take into account inflation and therefore had to be adjusted. Retail, hospitality and leisure firms were initially due to receive a 5p discount in the multiplier used for tax calculations.
Tesla ‘winding down’ production of Cybertruck, says Musk
Production of Tesla’s Cybertruck appears to be drawing to a close, the car manufacturer’s boss Elon Musk has hinted.
Speaking via X, Musk said: ‘Tesla will be winding down production of the Cybertruck at Gigafactory Texas around the middle of next year to make room for increased Cybercab production’.
The Cybertruck was first revealed back in 2019, with a now-famous showcase of the vehicle’s unbreakable glass showing panels that shattered during a live demonstration.
Yangwang U9Xtreme pushes to 312mph top speed
Yangwang has smashed several performance car records with a high-speed run of its U9 Xtreme.
The high-performance electric car pushed past the 500 km/h barrier – and its own previous benchmark of 496.22 km/h – to hit a top speed of 312mph.
In the process, it secured two Guinness World Records – Highest Speed achieved by a production car in a single-direction run, and highest speed achieved by an electric production car.
The markets
Stocks in Europe declined sharply on Friday after heavy falls on Wall Street overnight, while a strong US jobs report lit up the dollar.
The FTSE 100 index closed down 108.72 points, 1.0%, at 10,673.94. It had earlier traded as low as 10,528.07.
In Europe, the CAC 40 in Paris fell 0.8%, while the DAX 40 in Frankfurt declined 1.9%.
Friday on Car Dealer
Used car dealership collapses into liquidation owing creditors £350,000
Swindon used car dealer Apex Cars Direct has collapsed into liquidation owing creditors £350,300, including £122,000 to HMRC, with liquidators expecting little recovery from its assets.
Cap HPI facing major restructuring as owner Solera pushes ahead with AI transformation
Cap HPI is facing a major restructuring under US owner Solera’s AI transformation plans, with up to 50 job losses possible, although the company has not confirmed redundancies.
Weekly Briefing: The havoc Chinese cars are causing in the used car market
Our editor in chief has the latest motor trade news all summarised in one place
‘Opportunistic’ car thief avoids jail after admitting stealing £15,000 vehicle from Belfast dealership
Patrick McGurk has received a 14-month suspended prison sentence after stealing a £15,000 Renault Arkana from Charles Hurst’s Belfast dealership, with the vehicle still missing.
FLA strengthens board with appointment of experienced banking boss
The Finance & Leasing Association has appointed Vanquis chief executive Ian McLaughlin to its board, bringing more than 30 years of financial services experience.
King leads nation in honouring the fallen at Cenotaph on Remembrance Sunday
The King has led the nation in honouring those who have died in conflict on Remembrance Sunday at a ceremony attended by thousands of veterans.
Charles took centre stage and laid the first wreath at the Cenotaph in recognition of the fallen from conflicts dating back to the First World War, and was followed by the Prince of Wales.
Wearing a field marshal uniform complete with a greatcoat, cap and sword, the King saluted as he stepped back from the monument in Whitehall after leading the nation in a two-minute silence.
Briton among dead in Poland ‘terror’ attack as suspect’s family’s bodies found
A British man was among six people shot dead in a Polish city ‘terror’ attack by a rampaging gunman who is also suspected of killing three members of his own family.
Another Briton was among 16 people injured, including the perpetrator, after he opened fire in Krakow’s Main Square on Saturday afternoon.
Four women and two men were killed, with local officials saying three of the women and one man were Polish.
Weather outlook
Scotland and Northern Ireland will be mostly cloudy and chilly, with a few showers possible in western areas.
Northern England, Wales and the Midlands should remain largely dry but overcast.
Southern England will also see plenty of cloud, with little chance of rain and temperatures reaching around 8–10C.