6:47 am, October 19, 2026
UK profit warnings jump to highest since 2024 ahead of Budget
Profit warnings by UK-listed firms jumped to their highest level for almost two years in the latest quarter, according to new data.
Research by advisory firm EY indicated that UK firms have come under pressure from rising costs and subdued consumer sentiment ahead of the first Budget since Andy Burnham’s appointment as prime minister.
EY’s latest profit warning report showed that 65 UK-listed companies warned over profits in the three months to the end of September. That’s up from 59 in the previous quarter and marks the highest reading since the final quarter of 2024.
We’re not backing away from Jackdaw and Rosebank decisions, says Andy Burnham
The UK government is ‘not backing away’ from its much-anticipated decisions on the Jackdaw and Rosebank oil and gas fields, prime minister Andy Burnham has said.
Scottish secretary Douglas Alexander has said ministers are being ‘cautious’ about making public announcements to avoid the ‘mistakes’ of the previous government. A decision on Jackdaw is ‘imminent’, but Rosebank is set to take ‘a bit longer’, energy secretary Miatta Fahnbulleh said on Thursday.
The outcome will be seen by environmentalists as a key test of Burnham’s credibility on climate change.
Honda’s Civic gains ‘S+ Shift’ technology
Honda has introduced its new S+ Shift technology to its Civic hybrid.
First used on the Prelude, S+ Shift recreates the sound and feel of an eight-speed gearbox. Steering wheel-mounted paddles allows drivers to ‘shift’ gears just as they would in a conventional automatic gearbox – it even recreates the effect of engine braking when downshifting and will apply a rev-matching throttle ‘blip’.
Honda has also boosted equipment levels of the Sport model; prices for the revised Civic range start from £34,325.
The markets
The FTSE 100 made further strong gains on Friday as Bank of England Governor Andrew Bailey played down inflation fears, although banks missed out amid fears of a tax hit.
In London, the FTSE 100 index ended up 41.55 points, 0.4%, at 10,881.90. The FTSE 250 climbed 109.13 points, 0.5%, to 24,533.90, and the AIM all-share rose 8.03 points, 1.1%, to 773.12.
The pound was quoted at 1.3339 dollars, up from 1.3254 dollars. Against the euro, sterling firmed to 1.1860 euros from 1.1828 euros.
Reform admits ‘errors’ as police assess if election spending rules were broken
Police are assessing whether Reform UK candidates broke election spending rules.
The party has admitted making ‘administrative errors’ during the Scottish Parliament election in May.
According to The Sunday Times and The Ferret, four Holyrood candidates have not submitted returns detailing how much they spent during their campaigns and the value of their donations. Another five would-be MSPs who did submit returns reportedly failed to sign off on their spending properly, it has been reported.
UK takes ‘different view’ to Trump on Russia sanctions, says minister
The UK takes a ‘different view’ from Donald Trump on Russian sanctions, a Cabinet minister has said amid questions about Washington’s backing for Kyiv.
Yvette Cooper said the UK would continue increasing pressure on Moscow despite Trump’s decision to halt a package of sanctions that had been due to come into effect on Sunday.
But she declined to directly criticise the US president or say whether she thought he was on Ukraine’s side, saying Britain had to play ‘a crucial diplomatic role’ in bringing the Nato alliance together in support of Kyiv.
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Tesla launches a ‘flying’ car as it unveils Roadster 2 with SpaceX thrusters
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Weather
Cloud and patchy rain will spread north and east today, following lengthy sunny spells across Scotland, reports BBC Weather. Sunshine will develop later in southern and western areas, with showers in the far south-west.
Tonight, widespread rain will affect many areas, becoming locally heavy centrally, while Northern Ireland and the south-west stay drier.