6:40 am, September 8, 2022
Fracking ban could be ditched
Liz Truss is reportedly set to announce she is scrapping the ban on fracking as she unveils her long-awaited plan to guard Britons against crippling costs while boosting the country’s energy security.
The new premier is expected to tell MPs today that domestic energy bills will be frozen at around £2,500 as part of a package to ease the cost-of-living crunch.
The Times suggests the freeze could last for up to two years – until the next general election in 2024 – and would be funded by increased borrowing.
Fresh strikes ahead in Royal Mail dispute over pay and conditions
More strikes by Royal Mail workers have been announced in a worsening dispute over pay and conditions.
Members of the Communication Workers Union are walking out today and tomorrow, threatening disruption to deliveries, and will now take fresh action at the end of the month.
The union announced a further 48-hour stoppage on September 30 and October 1, saying its 115,000 members were increasingly angry at an ‘imposed’ two per cent pay rise.
Avanti may lose rail contract
The government is considering withdrawing Avanti’s contract to run train services on the west coast mainline, as it insisted ‘all options remain on the table’ once the agreement ends.
Rail operator Avanti has run fewer than half of its normal services since August 14, blaming the reduction on ‘unofficial strike action’ by drivers.
Transport minister Trudy Harrison said in the Commons the franchise agreement is due to expire on October 16, adding: ‘All options remain on the table. Withdrawing Avanti’s contract is one of those options, but we are bearing in mind all of the implications of that.’
Health leaders warn of busy winter for NHS
The NHS will face ‘extreme pressure’ in the coming months without intervention from the new government, health leaders have warned.
In a new letter to the PM, experts from across the sector called for ‘urgent action’ to address the ‘considerable’ pressure already felt by frontline services.
They said Liz Truss had inherited ‘an NHS in the most challenging state it has been in for decades’ and predicted that the coming winter will be the ‘busiest on record’ for the service.
House inquiries and sales continue to fall
Homebuyer inquiries fell in August at the steepest rate since the early stages of the coronavirus pandemic as the cost-of-living crisis and wider economic challenges affected market conditions, according to surveyors.
The Royal Institution of Chartered Surveyors said a net balance of 39 per cent of property professionals reported a fall rather than a rise in new buyer inquiries in August, marking the sharpest downturn since April 2020. Inquiries have now been falling for four months in a row.
House sales were also down in August, falling for five consecutive months, with the latest feedback implying this downward trend is becoming further entrenched.
Heineken snaps up control of craft brewery Beavertown
Heineken has taken full ownership of craft brewery Beavertown.
The Dutch brewer, which also owns Amstel and Birra Moretti, bought a 49 per cent stake in Beavertown for £40m in 2018.
Heineken said yesterday it had now bought the remaining shares of the north London-based company, which was founded by Logan Plant, the son of Led Zeppelin frontman Robert Plant.
Vladimir Putin and Xi Jinping to meet
Russian president Vladimir Putin and Chinese leader Xi Jinping are to meet next week in Uzbekistan.
The pair will meet at the Shanghai Co-operation Organisation summit to be held in Samarkand on September 15 and 16, Russian ambassador to China Andrei Denisov told reporters.
Putin and Xi last met in Beijing in February, weeks before the Kremlin sent troops into Ukraine. The two presidents oversaw the signing of an agreement pledging that relations between the sides would have ‘no limits’.
BMW Group to launch fully vegan interiors from 2023
BMW Group has announced plans to launch its first vehicles with completely vegan interiors in 2023.
Available for BMW and Mini vehicles, the move has been made possible thanks to the development of ‘innovative materials with leather-like properties’ that can be used in areas such as the steering wheel and gearstick, which need a high level of wear resistance.
It follows meetings with Peta Germany. The animal welfare organisation welcomed the move, saying vegan car interiors spared up to eight cows’ lives per car and slashed carbon emissions.
Wednesday headlines you might have missed
- The most common things car dealers get wrong – and how to fix them
- Tesla’s Model Y scores top marks in latest round of Euro NCAP tests
- Plans submitted for new Aston Martin dealership in the Midlands
- New Nissan X-Trail arrives with hybrid-only powertrains
- Otter Vale Isuzu partners with England rugby star Henry Slade
- New Kia campaign sees independent traders win prizes worth thousands of pounds
Market movements
The FTSE closed 62.61 points down at 7,237.83 yesterday. Meanwhile, the Cac 40 gained 1.31 points, ending on 6,105.92, the Dax was up by 44.53 points to 12,915.97, and the Dow Jones gained 435.98 points, finishing on 31,581.28.
Weather outlook
Thursday will see showers or rain in eastern Scotland, sometimes heavy says BBC Weather. Elsewhere will see a mixture of sunny spells and showers, possibly thundery and heavy in areas.
Showers – possibly heavy – are expected for many on Friday. There’ll be long spells of rain in southern Scotland and the far north of England, but it’ll be drier with sunshine in north and north-west Scotland.
