6:50 am, November 15, 2024
Council tax expected to raise additional £1.8bn next year – minister
Council tax rises will help ensure local authorities are funded next year, a minister has said as he rejected Tory claims of a £2.4bn ‘black hole’.
Communities minister Matthew Pennycook said the Government expects an additional £1.8bn to be raised through council tax in 2025/26, adding that business rates and funding connected to new homes will contribute £600m.
The new Labour administration will continue with current rules that allow councils in England to increase tax rates by up to 3%, plus an additional 2% for those authorities providing adult social care.
EU fines Meta £660m for competition rule breaches over Facebook Marketplace
The European Commission has fined Meta €797.72m (£663m) for what it says are breaches of EU competition law related to the social media giant’s classified ads service, Facebook Marketplace.
The Commission said by tying Marketplace to its Facebook social media platform, consumers on Facebook were regularly exposed to Marketplace whether or not they wanted to be, and this gave the site a ‘substantial distribution advantage’ which over classified ad platforms could not match.
The ruling also said Meta had unilaterally imposed unfair trading conditions on other classified ads services providers who advertise on Meta’s platforms, including allowing Meta to use ad-related data generated by other advertisers for the benefit of Facebook Marketplace.
Reeves pledges to rip up red tape as post-2008 crash regulation ‘gone too far’
Rachel Reeves will pledge to rip up financial red tape in a major speech arguing that regulatory changes following the 2008 economic crash have ‘gone too far’.
The Chancellor will use her first Mansion House address to say that measures brought in since the crisis to ‘eliminate risk’ have had “unintended consequences” in holding back growth.
Speaking in the City of London, Ms Reeves is expected to announce a package of reforms aimed at driving competition across financial services.
WH Smith’s growing travel chain helps annual profits jump
Retailer WH Smith has notched up a 16% rise in annual profits as its travel arm continued to drive sales higher.
The group reported underlying pre-tax profits of £166m for the year to August 31, up from £143m the previous year.
Trading profits jumped by 15% at its shops based in railway stations, airports and hospitals worldwide, to £189m, with these stores in the UK seeing earnings leap by a fifth.
Jaguar’s upcoming electric model showcased in new prototype photos
Jaguar’s new electric vehicle has commenced its first phase of testing and development on the public roads.
The disguised four-door grand tourer vehicle will spark a new period for the brand as it moves towards becoming a fully electric luxury brand in 2025.
The new car, which will be built in Solihull on a new electric architecture called JEA – Jaguar Electric Architecture – has already completed ‘tens of thousands of virtual and physical testing’, according to the brand, and will soon be heading to test sites and public roads ‘around the world’.
Cupra’s Tavascan and MG’s HS receive five-star ratings in latest Euro NCAP tests
The new Cupra Tavascan and MG HS have come out on top in a new batch of Euro NCAP safety tests while Ford’s latest Transit Courier van posted a ‘mediocre’ three stars.
The Tavascan, which arrives as Cupra’s latest model, was praised for its ‘good protection’ which was afforded to all occupants of the vehicle while its active bonnet helped to protect cyclists and motorcyclists in the event of an impact. Plus, Euro NCAP stated that the car’s lane keep assist would intervene in ‘some more crucial situations’, which helped the car to achieve a five-star safety rating overall.
MG’s new HS also finished the tests with a five-star score, helped by the car’s good protection for pedestrians and cyclists. Testers also said that the car’s automatic emergency braking system responded well ‘to a range of vulnerable road users’. Additional protection against ‘dooring’ – where a door is opened into the path of an approaching cyclist – was also highlighted as a plus point for the HS.
Urgent call for research into microplastic pollution from car tyres
Scientists have made an urgent call for research to establish the risks to health and the environment from particles produced by tyres which are the ‘leading contributor to microplastics’.
A new study has highlighted that tyre particles (TPs) account for nearly a third of all microplastics and the researchers say these could cause greater problems because they differ in size, chemical complexity and behaviour in ecosystems.
Henry Obanya, from the Institute of Marine Science and member of the Revolution Plastics Institute at the University of Portsmouth, said: ‘Tyre particles are classified as microplastics, yet they contain hundreds of unknown chemicals, many of which leach into the environment and pose unknown risks.’
Thrilled to have presented my research on car tire leachate pollutants and their environmental risks at @NOCnew / @PerkinElmer #Microplastics Symposium!! 🌍🔬 #ScienceCommunication #ToxicologyResearch #SustainableFuture pic.twitter.com/bqsmkREkOu
— Henry Obanya (@HenryObanya1) November 13, 2024
Thursday on Car Dealer
Martin Lewis says car finance scandal could double in size as FCA extends scope of investigation
Money-saving expert Martin Lewis warns that the UK car finance scandal could grow significantly, as the Financial Conduct Authority (FCA) broadens its investigation to include all commission-based finance deals. Previously, the probe focused on deals with discretionary commissions, but the scope now may encompass fixed-commission deals following a Court of Appeal decision. This expansion could potentially lead to payouts on a scale similar to the PPI scandal, affecting millions of past car finance customers.
Car dealer couple appear at court to deny selling ‘deathtrap and unroadworthy’ used vehicles
A Birmingham couple, Sajad Hamid and Aisah Rashid, have pleaded not guilty in court to charges of selling dangerously unroadworthy cars through a fraudulent scheme. Prosecutors allege they misled customers by advertising vehicles in good condition, while selling unsafe ones using fake names, documents, and addresses. Their son, involved in the scheme, has already pled guilty. The couple denies involvement, claiming they were not directly engaged in the transactions.
Car dealer ordered to repay almost £24,000 after selling couple ‘wrong’ caravan
A Northern Ireland car dealer, Braeside Car Sales, was ordered to repay nearly £24,000 to a Scottish couple after selling them the wrong caravan. The couple discovered significant differences from the advertised vehicle, including damaged parts, and were eventually forced to return it. Despite a court ruling in October, the dealer has yet to refund the amount, and the business is currently facing potential dissolution.
Customer court claim against used car dealer after engine failure dismissed
A court dismissed a customer’s claim against a used car dealer for engine failure, ruling the customer couldn’t prove the fault existed at the time of purchase. The issue arose six months after buying the car, during which time the customer drove 10,000 miles. The judge found that overheating, not low coolant, caused the failure, and without expert evidence, the customer couldn’t substantiate their claim.
Google’s Gemini AI gets dedicated iPhone app in the UK for the first time
Google’s Gemini generative AI assistant has been made available via a dedicated app on the iPhone for the first time.
Although Gemini can already be accessed on iPhones via the web, Google said the app will offer a ‘more streamlined Gemini experience’, including the ability to have more natural conversations in more than 10 languages with the artificial intelligence-powered assistant using the Gemini Live feature.
The Gemini app launched on Google’s own Android operating system in the UK in June and is built directly into Google smartphones, but dedicated apps are seen as a key tool in putting the technology giant’s signature AI product in front of millions of smartphone users.
Government to ban new coal mining schemes as UK turns to clean energy
New coal mining schemes will be banned in the UK, the Government has said.
Ministers have confirmed that legislation will be introduced to restrict the future licensing of new coal mines, as they said phasing out the fossil fuel worldwide is a crucial step to limiting global temperature rises and improving air quality.
The move comes after Britain became the first major economy to stop burning coal for power in October, as the last coal-fired power station at Ratcliffe-on-Soar, Nottinghamshire, closed.
The markets
European markets enjoyed a rebound on Thursday with utilities firms among the stocks lifting the FTSE 100 higher.
The UK’s top index moved 40.86 points higher, or 0.51%, to close at 8,071.19, with United Utilities, Severn Trent and Centrica among the biggest risers of the day.
Other top indices in Europe enjoyed stronger gains on Thursday. In Paris, the Cac 40 jumped 1.32%, and in Frankfurt, the Dax moved 1.37% higher.
Weather outlook…
The UK can today expect a mix of cloudy and overcast conditions, with mild temperatures around 10°C in southern regions and 6°C in northern areas.
Rain is unlikely, and winds will remain light across most of the country.
With the high pressure over Europe, the weather should stay stable, bringing relatively dry conditions.
