6:39 am, October 7, 2024
Optimism surges among UK firms but uncertainties remain – HSBC
UK firms are at a ‘positive inflection point’ with a new government in place and amid a tech-fuelled boom but uncertainties loom large ahead of the US election and as Middle Eastern tensions escalate, according to HSBC’s commercial banking boss.
Stuart Tait, head of commercial banking at HSBC UK, said the banking giant’s latest annual capital expenditure (Capex) report reveals that ‘optimism is climbing and ambitions are rising to match’.
More than half of UK businesses (55%) are positive about growth in the year ahead, up 9% on last year, according to the study.
Sainsbury’s to hire 20,000 staff for Christmas season
Sainsbury’s will be hiring 20,000 more shop workers, warehouse staff and drivers for the Christmas period as the retailer prepares for festive shoppers.
Applications have opened for seasonal staff, who will be employed for up to three months during its busiest time of year. The UK-wide roles will include 18,000 at Sainsbury’s and 2,000 at Argos.
The positions range from shop workers, including restocking shelves, staff in warehouses to pick and prepare stock, and drivers for home deliveries.
Hyundai Inster will cost from £23,495
Hyundai has revealed prices and specifications for its eagerly anticipated Inster electric SUV.
The entry-level car will come with a 42kWh battery and a 95bhp motor, but Hyundai hasn’t confirmed the car’s electric range, while topping the line-up will be a 49kWh version with a 113bhp motor. The firm has revealed this car’s 229-mile range, however.
Two trims will be available, helpfully named 01 and 02. The former is priced from £23,495 and comes with 15-inch alloys, a pair of 10.25-inch screens, and can be specified with the smaller and larger battery packs. 02 adds 17-inch wheels, LED headlamps and taillights, privacy glass and roof rails, and is priced from £26,745. Order books open early next year.
The markets
The FTSE 100 finished slightly down after a mixed day on Friday, as rising oil prices and strong US jobs figures prevented deeper losses.
London’s blue-chip index fell 1.89 points, or 0.02%, to end the day at 8280.63, lifted by NatWest, Barclays and Lloyds all being among the top risers.
Frankfurt’s Dax index rose 0.55%, while the Cac 40 in Paris had closed up 0.91%. In New York, the S&P 500 had gained 0.22%, while the Dow Jones was 0.16% higher.
Sir Keir Starmer shuffles Number 10 team after Sue Gray quits as chief of staff
Sir Keir Starmer has reshuffled his Number 10 team after Sue Gray quit as chief of staff on Sunday, citing concerns that questions over her position were becoming a distraction.
Parliament is set to return on Monday after a conference recess that saw the government wrapped up in rows over Gray’s salary and freebies for ministers and MPs.
Gray quit on Sunday after weeks of reports of tensions in Number 10. She will be replaced as the chief of staff by Morgan McSweeney who led Labour’s general election campaign, and with whom she was reported to have clashed.
Israelis mark one-year anniversary of Hamas attack
Israelis were holding vigils and sombre ceremonies on Monday to mark a year since the October 7 Hamas attack which sparked the war in Gaza.
The surprise cross-border attack, which caught Israel unprepared on a major Jewish holiday, shattered Israelis’ sense of security and shook their faith in their leaders and their military.
The war in Gaza rages on, Israel is fighting a new war against Hezbollah, which began attacking Israel on October 8, and an escalating conflict with Iran — which backs both Hamas and Hezbollah — threatens to drag the region into a far more dangerous conflagration.
The weekend on Car Dealer
Bangers4Ben 2024: All teams make it to the first overnight in Switzerland!
Bangers4Ben 2024 has kicked off, with teams arriving near Lake Geneva on Saturday night. They’ve raised over £25,000 so far for charity. Team Lawgistics and Automotive Compliance faced setbacks, but persevered. The teams continued into the Swiss Alps on Sunday.
Ineos slams brakes on Grenadier assembly due to supplier issues: What went wrong?
Ineos halted production of its Grenadier off-roader due to a supplier’s cashflow issue, possibly involving Recaro seats. This highlights the vulnerability of automotive supply chains. Delays could harm Ineos’ reputation, finances, and market ambitions, especially as a newcomer in vehicle manufacturing, writes David Bailey, senior fellow at the ESRC’s UK in a Changing Europe programme, for Car Dealer.
Struggling to make money selling used cars? Why not give motorhomes a go?
Motorhomes can offer dealers higher profit margins than cars but come with risks like mechanical issues and damp. CMS Auctions, trading since 2007, sells motorhomes through transparent online reports and videos. This approach builds trust, increasing sales and confidence in buying remotely.
Mariangela Del Vecchio joins Maserati to oversee operations in the UK and Scandinavia
Maserati appointed Mariangela Del Vecchio as the new head of North Europe, replacing Peter Charters. Del Vecchio brings 20 years of automotive leadership, with experience at BMW and Iveco. The leadership change follows Maserati’s recent financial struggles, aiming to strengthen its market presence.
LSH Auto helps deliver thousands of free PE kits to Stockport’s primary schools
LSH Auto has partnered with Stockport County Community Trust to deliver 12,500 free PE kits to students in need, promoting physical activity. LSH provided two vans for the initiative, and Stockport County players supported the distribution of 3,000 kits to local schools.
Weather
A day of sunny spells and showers for most of the country, reports BBC Weather. Rain will fall longest in northern Scotland, while showers in northern Wales and northwestern England will move into southern Scotland later in the day. Temperatures could rise to 18 or 19 degrees, however.
A band of rain will move into southern England during the night – heavy and likely to be thundery. Drier elsewhere.
