6:20 am, August 23, 2024
Consumer optimism over economy falls for first time since February
Consumer confidence in the prospects for Britain’s economy over the next year has fallen for the first time in six months, according to new figures.
But British consumers are feeling more optimistic over their personal finances as mortgage rates have begun to come down following the Bank of England’s interest rate cut at the start of this month, the report found.
GfK’s long-running Consumer Confidence Index showed a four-point fall since July to minus 15 in August for consumer expectations for the general economic situation over the next 12 months – the first fall since February.
New Starbucks boss faces online storm over 1,000-mile commute by private jet
Starbucks’ incoming chief executive, Brian Niccol, is under fire over the company’s offer for him to commute around 1,000 miles (1,600km) by private jet.
Social media users were quick to criticise the world’s biggest coffee shop chain over the move in light of its sustainability efforts elsewhere, such as banning plastic straws.
Niccol’s job offer said he will not have to relocate to the company’s headquarters in Seattle, Washington, from his family home in Newport Beach, California, when he takes up his new role on September 9.
Vauxhall Mokka Coffe-E is designed for the daily grind
Vauxhall has revealed a one-off concept of its popular compact crossover – the Mokka Coffe-E.
The Mokka Coffe-E features two coffee machines with a milk steamer, grinder, knock box and fridge which are all integrated in the boot of the vehicle. There is also a bespoke pull-out drawer that houses barista tools, including scales and an espresso tamper to all help drivers make their favourite cup of coffee when charging. Underneath, there’s a new 54kWh battery pack and 154bhp motor.
The one-off Mokka was created after research by the carmaker revealed that buying a coffee shapes the journeys of EV drivers, with three quarters purposefully choosing charge points where they can buy one. It found that 80% of Vauxhall owners are coffee drinkers with 64% enjoying at least one cup a day.
The markets
London’s top financial index finished marginally higher on Thursday amid caution ahead of Friday’s Jackson Hole economic symposium.
The FTSE 100 finished 4.57 points, or 0.06%, higher to end the day at 8,288.00. Across the Channel, the Cac 40 in France ended flat for the day and the Dax index was up 0.24% at the close.
Stateside, the Dow Jones and Nasdaq both slipped in early trading, with household appliances group Williams-Sonoma a notable faller. The pound was up 0.09% at 1.309 US dollars, and was up 0.38% at 1.178 euro.
Households to face higher energy bills this winter as price cap set to rise
Households in Britain are set to face higher energy bills this winter with the regulator expected to increase the price cap after lowering it twice this year.
Experts predict Ofgem will announce on Friday that the average household energy bill will rise by about 9% in October when the latest change takes effect.
Energy consultants Cornwall Insight said it expects the typical household’s energy bill to rise to £1,714 a year, up from £1,568 currently, on October 1.
Search continues for missing person in Bayesian yacht sinking
The search continues for the final person missing from the wreck of a yacht that sank off the coast of Sicily.
The body of technology tycoon Mike Lynch was recovered from the luxury yacht Bayesian on Thursday, but his 18-year-old daughter reportedly remains missing.
Mr Lynch, his daughter Hannah, Morgan Stanley International bank chairman Jonathan Bloomer, his wife Judy Bloomer, Clifford Chance lawyer Chris Morvillo, and his wife Neda Morvillo were lost when the Bayesian sank at around 5am on Monday.
Thursday on Car Dealer
Used car buying, bidding and collecting – our wannabe car dealer gives it a go
In a two-part special, James Baggott tries out Motorway’s collection service in a car-buying bonanza. He attempts to snap up cars from across the country for his used car dealership, all with the help of AI. Watch the latest exploits with the AI Car Dealership Project.
Millennials most likely age group to spread costs of car repair with buy now, pay later – research
Millennials, averaging 43 years old, are the most likely to use buy now, pay later (BNPL) services for car repairs and servicing, according to a new survey from fintech payment specialist Bumper. Generation X prefers BNPL for higher bills, with usage increasing with age and cost.
Used car sales jumped by over 7% in July for UK’s Top 200 car dealers
In July, used car sales for the UK’s Top 200 dealers rose by 7.52% to 167,697 units, reversing three months of declines. Revenue increased by 8.43% to £3.46 billion. Independent dealers led growth, with large dealers seeing the highest sales surge.
Weather
Storm Lilian will push eastwards during the course of the day, leading to some very heavy downpours and high winds for northern and eastern parts, reports BBC Weather. As it clears, sunny spells should be the order of the day. Highs of 23 degrees in the south and 18 in areas under the rain.
Tonight, the north will have variable cloud and showers, while in the south rain will build from the south-west. It’ll be heavy.
