6:50 am, January 30, 2025
Lloyds Banking Group to shut 136 high street branches
Lloyds Banking Group is to shut 136 more high street branches as it accelerates plans to cut costs and digitise the bank.
It will close 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches between May this year and March 2026.
The closure plan comes weeks after Lloyds shook up its branch business to allow customers of Lloyds, Halifax and Bank of Scotland to use stores across any of its brands for in-person banking.
Business groups welcome Reeves’ growth plans but remain ‘concerned’ about Budget
Business groups and economists have said Chancellor Rachel Reeves’ latest plans to grow the economy are welcome, but that measures in the October Budget will still weigh on companies.
Ms Reeves announced plans to turn Oxford and Cambridge into ‘Europe’s Silicon Valley’ with a raft of housing and infrastructure development in the area.
She also said that the Government will back a new third runway at Heathrow Airport, as well as £65m of investment in EV charging firm, Connected Kerb.
New Toyota Land Cruiser receives rugged Arctic Trucks treatment
Arctic Trucks has unveiled a rough and ready version of Toyota’s latest Land Cruiser.
The Icelandic specialist division of Toyota has taken the latest model of the firm’s off-roader and beefed up key areas.
Code named the Land Cruiser 250 or Prado AT37 in other markets, the car has been designed to take on some of the world’s harshest environments.
Toyota’s latest and greatest already looks brilliant – check out what an Arctic Trucks conversion does for it: https://t.co/AM9DlIY86o pic.twitter.com/xcC93QTRnS
— PistonHeads (@PistonHeads) January 28, 2025
Wednesday on Car Dealer
Used car prices drop just 0.1% in January as electric cars take biggest hit
Used car prices remained stable in January, dropping just £60 on average as demand surged. Electric cars saw the largest declines, while diesel models performed best. Experts predict a positive trend continuing into February as stock availability tightens.
Profit up more than a third for Group 1 Automotive’s UK arm in 2024 following acquisitions
Group 1 Automotive’s UK profits rose 36.6% to £120m in 2024, driven by acquiring 58 Inchcape dealerships. Q4 profits doubled to $183.3m (£147.6m), though restructuring costs hit $16.7m (£13.45). CEO Daryl Kenningham says the UK team is now stronger and well-positioned for growth.
Used car supermarket outlines bold expansion plans as it agrees deal for additional land
FOW Car Supermarket is expanding its Manchester site with a 2.4-acre land purchase, doubling stock capacity to 800 cars. Plans include demolishing a redundant service centre for a new workshop and valeting facilities, creating jobs and boosting the local economy.
Family-run West Riding Group opens fourth Hyundai dealership after buying Bolton Car Centre
West Riding Group has acquired Bolton Car Centre, opening its fourth Hyundai dealership in Greater Manchester. The expansion aligns with Hyundai’s network growth strategy. MD Nick Wright called it ‘just the beginning’, with further growth planned to enhance customer service and brand presence.
New plates, new processes, new opportunities: How KeyTracker could help your dealership
With new registration plates arriving soon, dealerships face increased demand and logistical challenges. KeyTracker offers security and efficiency solutions, including trade plate holders, anti-tamper seals, electronic key management, and out-of-hours lockers. These enhance organisation, security, and customer experience while reducing losses and insurance costs.
FTSE 100 closes short of record levels despite further gains
The FTSE 100 finished just short of a fresh record high despite rising amid strong sessions from utilities firms.
London’s top index finished 23.94 points, or 0.28%, higher to end the day at 8,557.81.
Elsewhere in Europe, the other key indexes were mixed but still hovered around record levels, with Germany’s Dax lifting further amid a boost from Daimler Truck shares. The Cac 40 ended 0.32% lower for the day and the Dax index was up 0.9%.
Just Stop Oil protesters charged over allegedly disrupting Sigourney Weaver play
Two Just Stop Oil protesters have been charged over allegedly disrupting a West End production of The Tempest starring Sigourney Weaver.
Richard Weir, 60, of Tynemouth, and Hayley Walsh, 42, of Radcliffe on Trent, both in Nottinghamshire, have been charged with aggravated trespass at the Theatre Royal in Drury Lane on January 28, Scotland Yard said.
It comes after the environmentalist group claimed that protesters had taken to the stage, with footage posted online of a pair carrying a sign that said ‘over 1.5 degrees is a global shipwreck’.
Drivers in England could be fined for parking on pavement under proposed new law
Drivers and riders could be fined for parking cars, e-bikes and e-scooters on pavements under a potential law put forward by a Labour MP.
Marsha de Cordova, who is registered blind, said pedestrians were at risk of being injured as people are often forced into the road to navigate the obstacles.
Ms de Cordova told the House of Commons 95% of people with sight loss have had to walk in the road due to vehicles parked on pavements.
Weather outlook…
The UK will once again face strong winds from Storm Éowyn today, with gusts up to 70mph, especially in coastal and hilly areas.
A Yellow Wind Warning is in place in some parts of the country with rain also expected, and temperatures between 3°C and 12°C.
Travel disruptions and power outages are possible and the Met Office is warning people to ‘stay prepared’ and check forecasts for updates.
