6:50 am, February 19, 2025
Steel giant Tata hails planning approval for Port Talbot plans
Steel giant Tata has welcomed planning approval for its proposals for huge changes to steelmaking at its biggest plant.
Neath Port Talbot Council’s planning committee gave the go-ahead at a meeting on Tuesday to the way steel is produced at the South Wales site.
Tata has closed blast furnaces and is switching to an electric arc furnace-based steelmaking process which is greener, but needs fewer workers.
Pay growth picks up pace again despite jobs market worries
UK earnings growth has accelerated to an eight-month high, despite further signs of strain in the jobs market, as vacancies tumbled once again, according to official figures.
The Office for National Statistics (ONS) said average regular pay surged to 5.9% in the three months to December – up from 5.6% in the previous three months and the fastest growth since the three months to April last year.
Wages outstripped Consumer Prices Index inflation by 3.4%, the ONS added.
New Black Badge Spectre becomes Rolls-Royce’s most powerful model
Rolls-Royce’s new Black Badge Spectre has become the most powerful model in the company’s history.
The electric model brings 650bhp and 1,075Nm of torque, enabling a 0-60mph time of just 4.1 seconds. Those power outputs represent a significant uplift on the 577bhp and 900Nm of torque that you’d get from the standard Spectre.
As with nearly all Rolls-Royce models, the Black Badge Spectre includes several additions which refer to the company’s past.
FTSE 100 treads water after Andrew Bailey’s ‘weak growth’ warning for UK
The FTSE 100 struggled to make headway on Tuesday as Bank of England governor Andrew Bailey said the UK is experiencing a ‘weak growth environment’.
London’s blue-chip index edged downwards by one point to finish the day at 8,767, or a 0.02% fall.
In Europe, France’s Cac 40 rose 0.4%, and in Frankfurt the Dax increased 0.3%.
US and Russia agree to create team to negotiate Ukraine peace
Officials at talks between Russia and the US have agreed to restore embassy staffing and create a high-level team to negotiate peace in Ukraine and promote economic co-operation, US secretary of state Marco Rubio has said.
Mr Rubio said that actions over the last years have reduced both countries’ diplomatic missions’ abilities to operate.
He said: ‘We’re going to need to have vibrant diplomatic missions that are able to function normally in order to be able to continue these conduits.’
Farming leaders’ fury as Treasury stands firm on inheritance tax change
Agricultural leaders left a meeting with the Treasury with ‘boiling blood’ after the Government faced down their arguments to rethink proposed changes to inheritance tax on farms.
Exchequer Secretary James Murray and farming minister Daniel Zeichner spoke to representatives of the National Farmers’ Union (NFU), the Tenant Farmers Association (TFA), the Country Land and Business Association (CLA) and the Central Association of Agricultural Valuers (CAAV) in Westminster on Tuesday morning.
The ministers stood firm on proposals to introduce a 20% inheritance tax rate on agricultural land and businesses worth more than £1m, essentially scrapping an exemption which meant no tax was paid to pass down family farms.
Tuesday on Car Dealer
‘Feeling tyred’: ‘Eco-terrorists’ carry out ‘mindless’ attacks on Vertu Land Rover dealerships
Eco-activists targeted Vertu Land Rover dealerships in Exeter and Truro, drilling tyres to protest SUVs. Group ‘OilSabs’ claimed responsibility, citing environmental concerns. CEO Robert Forrester condemned the act as counterproductive, highlighting the emissions impact of tyre replacements.
Car Dealer Live: Google to reveal car buyer insights, AI ideas & how to make Vehicle Ads work for you
Google’s Mohammad Lone will speak at Car Dealer Live 2025 on March 13, addressing car buyers’ priorities, AI’s role in dealerships, and Google’s Vehicle Ads. The event features industry leaders, panel discussions, and networking opportunities. Tickets start at £160.
Chancellor’s intervention into motor finance scandal is REJECTED by Supreme Court
The UK Treasury’s attempt to intervene in the motor finance scandal was rejected by the Supreme Court. This led to lender share price drops, while consumer groups welcomed the decision. However, the FCA will be allowed to make submissions in the case.
Carwow Group appoints new chief financial officer as former Deliveroo exec joins top team
Carwow Group has appointed Jeremiah Crider as its new CFO to support its growth strategy. Formerly European CFO at Securitas, Crider brings experience from Deliveroo and will focus on financial excellence. He reports to CEO John Veichmanis.
Teenager admits to major theft at used car dealership which saw vehicle and keys swiped
Jason Kirkby, 18, admitted to breaking into Solid Cars Ltd in Wallyford, Scotland, in 2022, stealing a vehicle, 50 sets of keys, and other items. Already on bail for another offence, he was released again pending sentencing later this month.
Weather outlook…
The UK will today see mostly cloudy conditions with occasional rain. Scotland may experience some rain or snow before turning drier.
Temperatures will be milder than average for February, ranging from 3°C to 14°C.
Expect a generally overcast day with some brighter spells in certain areas.
