6:27 am, December 17, 2024
Private sector hiring falls at fastest rate in nearly four years after Budget
Private sector employment fell at the fastest rate in nearly four years in early December, according to a survey, as firms continued reacting to the autumn Budget.
Activity across the UK’s private sector grew slightly in the first weeks of December, but more notable was a ‘marked pullback in hiring’, according to the research.
The S&P Global flash UK composite purchasing managers’ index (PMI) reported a reading of 50.5 for December, unchanged on November’s figure which was a 13-month low.
Customer compensation for water supply problems to increase from next year
Water firms are to be forced to significantly increase compensation payments to customers affected by failures such as supply outages, sewer flooding or low water pressure, the government has said.
Customers who suffer problems like low water pressure could receive payments of up to £250, compared to the £25 currently available, while households affected by flooding inside their homes from sewers could receive £2,000 or more, compared to £1,000 under current rules, the Department for Environment, Food and Rural Affairs (Defra) said.
Some water companies voluntarily offer compensation to customers who experience interruptions to their supply or other problems, but there is no statutory requirement to do so and rates can vary significantly among firms and location.
Vauxhall announces prices for its hydrogen-powered Movano
Vauxhall has announced prices and specifications for its hydrogen-powered Movano van and will be one of the first in the industry to offer such a vehicle.
Under its bonnet, there is an electric motor that produces a total of 147bhp and 410Nm of torque. The fuel cell itself generates a maximum power rate of 60bhp and is paired with four high-pressure cylindrical tanks, which are capable of storing up to 7kg of hydrogen. Vauxhall claims the Movano hydrogen can cover up to 311 miles between fill-ups. Additionally, the van utilises an 11kWh lithium-ion battery pack that provides added acceleration and can be charged from an 11kW AC charger in 90 minutes.
There will be a choice of two body styles with prices starting at £66,450, excluding VAT and after the plug-in van grant. A larger, more spacious panel van comes in at £68,070. Order books will open in the spring of 2025.
The markets
The FTSE 100 fell on Monday as investors anticipated a double bill of interest rate decisions in the UK and the US.
The Bank of England is expected to hold rates at 4.75% at its decision on Thursday, after official figures last month showed inflation had jumped back up to 2.3% in October. Meanwhile, the US Federal Reserve is likely to cut rates after a steady inflation reading last month.
London’s blue-chip index lost 38.28 points, or 0.46%, to end the day at 8,262.05; Frankfurt’s Dax index fell 0.45%, while the Cac 40 in Paris fell 0.71%. In New York, the S&P 500 had risen 0.42%, while the Dow Jones was 0.08% lower.
Government faces pressure to designate China a security threat
The government faces renewed pressure to designate China a threat to national security after the naming of an alleged Chinese spy with close links to the Duke of York.
Yang Tengbo, who denies wrongdoing, is the latest person to be named as an alleged Chinese agent following claims in recent years about Beijing’s infiltration of Westminster.
The revelations have prompted parliamentarians to urge the government to implement the foreign influence registration scheme (Firs) proposed by its predecessor, and place China in the ‘enhanced’ tier that would bring greater scrutiny.
Campaign groups to take part in appeal bids over M25 protest sentencing
Two environmental campaign groups will be allowed to take part in bids to challenge the sentences given to climate protesters for their roles in a protest which blocked the M25.
Friends of the Earth (FoE) said on Monday that it and Greenpeace UK had been allowed to intervene in support of the appeal bids of Roger Hallam, Daniel Shaw, Louise Lancaster, Lucia Whittaker De Abreu and Cressida Gethin, who were jailed in July.
FoE said the appeal bids would be heard on January 29 and 30, 2025, and that the hearing will also review four separate cases involving Just Stop Oil activists, for which 16 people have been sentenced.
Monday on Car Dealer
Corvette to launch right-hand-drive models as brand agrees UK franchise dealer partnerships
Corvette has partnered with UK dealer groups Arnold Clark and Lumen Automotive to launch right-hand drive models. Arnold Clark exclusively covers Scotland and northern England, while Lumen represents Shrewsbury. New C8 Stingray and Z06 launch in January, with further models expected 2025.
Auto Trader says used car dealers can avoid January Blues by taking positive steps now
Auto Trader research shows 74% of January car buyers start browsing in November and December. Buyers spend 87 days researching, with 85% confident about affordability. Dealers should engage early, manage stock strategically, and use pricing tools to maximise opportunities for 2025.
Used car sales slumped in November for Top 200 most stocked car dealers
Used car sales for the top 200 dealers fell 13.8% in November, reversing October’s rise. Revenue dropped 13.42%, with franchised dealers hit hardest. Arnold Clark topped stock rankings, Ford Fiesta led sales, and Fiat 500X Dolcevita was fastest-selling.
Car Dealer Podcast: Carwow’s Sally Foote encourages car dealers to stock used EVs amid ‘real demand’ from buyers
Carwow’s Sally Foote urges manufacturers and the government to support used car dealers in selling EVs. Despite rising demand, dealers remain hesitant due to concerns about servicing, warranties, and batteries. Greater incentives are needed to boost used EV stock flow, she told the Car Dealer Podcast.
Cheers! Brayleys Nissan hands over 12 Ariya electric SUVs to leading drinks firm
Brayleys Nissan supplied 12 Ariya EVs to LWC Drinks, supporting its fleet decarbonisation. LWC praised the Ariya’s range, safety, and comfort. Nissan applauded LWC’s sustainability efforts, anticipating further collaboration as the fleet transitions to electric vehicles.
Weather
A breezy and mild day for all, reports BBC Weather. Northern Ireland and Scotland will see rain, heavy later on, while England and Wales will be cloudy with rain arriving later. Temperatures will be around 11 degrees.
Temperatures won’t drop much tonight leaving another mild night. Rain will push eastwards leaving a dry night for a time, before a band of heavy rain pushes into the west.
