6:35 am, October 29, 2026
Inflation to surge beyond forecasts as UK economy set for growth slowdown
Households are set to face significantly higher-than-expected inflation and a slowdown in economic growth next year due to pressure on energy prices, the government’s official forecaster has said.
It came as Chancellor John Healey warned the economy had been impacted by ‘global economic storms’ in his first autumn Budget.
The Office for Budget Responsibility (OBR) said UK inflation is set to rise to a peak of around 3.75% by the start of next year, particularly driven by a jump in household energy bills in January. It is then expected to steadily decline but only reach the government and Bank of England’s 2% inflation target in 2028.
Santander UK bolstered by TSB takeover as it targets cost ‘synergies’
Santander UK has said its profits fell this year, despite its acquisition of TSB boosting the balance sheet and efforts to bring down costs through ‘simplification and automation’.
The bank reported a pre-tax profit of £1.2bn for the first nine months of 2026, which was 6% lower than the same period last year. However, for the third quarter – July to September – profits surged to £630m, from £372m last year.
It said the decline across the year was mainly due to a charge in the first quarter relating to historic motor finance commission payments and higher restructuring costs.
Aston Martin’s Valhalla goes open-air with new Spider
Aston Martin has given its Valhalla supercar the drop-top treatment with a Spider version.
Thanks to plenty of lightweight materials, the Spider weighs just 25kg more than its coupe sibling and can return the same 0-60mph time of under 2.5 seconds. Flat-out, the Spider will top out at 217mph – with the roof down. When the stowable fabric roof is in place, Aston says that the Spider is restricted to a top speed of 124mph. Although an optional carbon-fibre hard-top roof returns that top-whack speed of 217mph.
Aston Martin hasn’t released a price for the Spider yet, but it’s likely to exceed the £850,000 starting price for the regular Valhalla coupe.
‘Budget is bold enough’ despite limited ‘room for manoeuvre’, Andy Burnham says
Prime minister Andy Burnham has defended the Budget against claims it is ‘not bold enough’.
Burnham insisted there are ‘strong signs that the economy will improve’ but admitted the government does not have ‘huge room for manoeuvre’.
Tory leader Kemi Badenoch said the Budget is ‘not good enough, not strong enough, not bold enough’, while Reform UK’s Treasury spokesman Robert Jenrick described it as a ‘nothing burger’.
Donald Trump warned BBC libel case could be dismissed unless he releases records
Donald Trump has been warned by a US court he faces having his 10 billion dollar (£7.5bn) defamation case against the BBC thrown out unless he turns over documents requested by the broadcaster.
Magistrate Judge Enjolique Lett has ordered the American president to produce the relevant records by November 23, as she raised concerns over the collation of the paperwork by his legal team.
In the absence of a register identifying any documents which had been withheld due to claims of privilege, she also directed Mr Trump to compile a list by November 5.
Wednesday on Car Dealer
Fuel duty freeze extended but car dealers face higher wage bills as Chancellor unveils Autumn Budget
Chancellor John Healey has extended the fuel duty cut until July 2027 and announced fresh business rates relief in his first Autumn Budget – but car dealers are also facing another rise in employment costs.
Group 1 U-turns on JLR dealership closures as it agrees to retain five sites
Group 1 Automotive has made a dramatic U-turn on plans to axe all its Jaguar Land Rover dealerships in the UK, reaching an agreement to retain five sites it had previously earmarked for closure or disposal.
Snows Accident Repair Centre recognised for efforts to cut carbon emissions
Snows Accident Repair Centre has been recognised for its efforts to reduce carbon emissions and improve sustainability after achieving Level 4 status under an industry environmental scheme.
Aston Martin cuts losses in Q3 as Valhalla demand leads to sales hike
Aston Martin narrowed its losses in Q3 after increased demand for its Valhalla supercar helped drive up sales.
RAC Dealer Network launches new StockSmart used car pricing tool
RAC Dealer Network members are being given access to a new tool designed to help them price and manage used car stock.
Family-run Shelbourne Motors to become Aion’s exclusive dealer partner in Northern Ireland
Aion has announced plans to expand its UK dealer network with its first foray into the Northern Irish market.
Family-run used car dealership given green light to keep trading after bitter council row
A family-run used car dealership that accused its local authority of trying to force it out of business has been given the green light to stay open after a bitter planning dispute.
Weather
Early mist and fog will clear today, leaving most areas dry with patchy cloud, reports BBC Weather. The south and east will enjoy the best sunshine, although isolated showers may affect the northwest.
Tonight will remain largely dry, with clear skies in the southeast. Cloud will increase across western fringes by dawn.