6:30 am, November 25, 2024
CBI boss to warn Budget tax rises will ‘hit growth’ among UK firms
Tax rises in the autumn Budget are undermining investment among UK companies, according to the head of one of Britain’s most prominent business groups.
Rain Newton-Smith, chief executive of the Confederation of British Industry, will warn in a speech on Monday that the measures announced last month have made it harder for businesses to ‘take a chance’ on hiring new people.
However, chancellor Rachel Reeves is expected to tell the group there was ‘no alternative’ to tax rises as she holds firm against criticism of the autumn financial statement.
Halfords to deliver stalling sales amid pressure on consumers
Halfords is set to confirm flatlining sales for the past year, as investors await more detail on how much autumn Budget cost rises will hit the business.
The motor products and cycling retailer has previously cautioned that its shoppers have held off making costlier purchases because of the uncertain economic backdrop over the past year.
The business is expected to confirm on Tuesday, November 26 that sales edged 0.1% lower for the half-year to September 27, compared with a year earlier. In an update last month, Halfords said the marginal dip was compared with a strong performance by its garages business a year earlier.
DS previews new model with 466-mile electric range
DS has showcased an upcoming model that could bring a range of up to 466 miles between electric top-ups.
The new car, which will be fully revealed ‘before the end of the year’, according to the brand will bring a fastback design but with an aerodynamically-efficient finish which should allow it to cut through the air as effectively as possible.
Up front, the new vehicle – which is rumoured to get the name DS8 – gets the brand’s latest DS Pixelvision headlights which are framed by vertical daytime running lights. And, with a 466-miles range, the new model would arrive with one of the longest electric ranges offered by any car on sale in the UK.
The markets
Investors’ hopes of future interest rate cuts were buoyed on Friday by weak UK economic data, pushing the FTSE 100 upwards.
London’s blue-chip index gained 112.81 points, or 1.38%, to end the day at 8,262.08.
Europe Frankfurt’s Dax index rose 0.83%, while the Cac 40 in Paris gained 0.58%. In New York, the S&P 500 had gained 0.27%, while the Dow Jones was 0.76% higher. On currency markets the pound was trading 0.54% lower against the dollar at 1.2516 and had risen 0.14% against the euro at 1.2037.
Storm Bert disruption continues as full impact of treacherous weather emerges
Storm Bert will continue to bring disruption into Monday after torrential downpours caused “devastating” flooding over the weekend.
Hundreds of homes were left underwater, roads were turned into rivers and winds of up to 82mph were recorded across parts of the UK.
The last of the Met Office’s rain warnings ended at 11.59pm on Sunday but strong winds persist and rain from high ground will reach rivers, which could disrupt clean-up efforts.
Bar staff to be trained to deal with spiking as PM demands joint action on VAWG
Thousands of bar staff will be trained to deal with incidents of spiking under government plans as Sir Keir Starmer demands joint action from police and hospitality chiefs to tackle violence against women and girls.
Workers in the night-time economy will be instructed on how to prevent cases, support victims and help “collect evidence” by spring next year, Number 10 said.
It comes as the prime minister summons chief constables, transport bosses and industry executives to Downing Street on Monday to urge a co-ordinated response to ‘this cowardly act’.
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Big Mike: Jaguar’s re-launch has ripped away one of used car dealers’ biggest perks
Our popular mystery used car dealer sinks his teeth into the Jaguar re-launch which has caused so much controversy.
Auto Trader backs new and used car markets to grow next year despite mounting challenges
The UK new car market is forecast to rise 2% in 2025, with 1.98m registrations, despite challenges like stricter regulations and high prices, believes Auto Trader. Used car sales remain resilient, expected to grow to 7.7m, nearing pre-pandemic levels.
Government needs to ‘do their bit’ to stimulate EV demand in UK – Vauxhall boss
Vauxhall’s UK boss James Taylor urges the government to boost EV adoption with incentives, not as extensive as past grants, to reward greener choices. He highlights ZEV mandate challenges, urging credit flexibility between cars and electric vans.
Ineos to resume new car production after slamming the brakes due to supplier headaches
Ineos Automotive will resume Grenadier and Quartermaster production in January after a component shortage halted operations. A solution secures jobs at the Hambach plant, with 2025 plans for growth in new markets, including China, Mexico, and the US.
Family-run classic car dealer completes £500,000 rebrand to become motoring ‘hub’
Family-run dealership J. Middlehurst & Sons in St Helens has rebranded as Middlehurst Road, Race & Classic after a £500,000 investment. The revamped showroom features a bar and lounge, aiming to become a community hub for motorsport and classic car enthusiasts.
Vertu begins process of killing off Bristol Street Motors name by rebranding sponsored trophy
Vertu Motors is rebranding the EFL Trophy as the ‘Vertu Trophy’, phasing out the Bristol Street Motors name. This aligns with the company’s decision to unify all dealerships under the Vertu brand, marking a significant shift in its identity.
Weather
Storm Bert will continue to batter parts of the UK today with heavy winds for the north, Scotland and Northern Ireland, reports BBC Weather. Brighter in the north-west with showers; calmer but still very breezy in the south. Temperatures will top 12 degrees.
It’ll remain windy in the north with further showers. Clear skies elsewhere; rain for Channel coastlines.
