6:50 am, April 10, 2024
Labour plans to ‘breathe new life’ into high streets with reformed rates
Labour has pledged to ‘breathe new life’ into high streets as the party today unveils a five-point plan including reforming business rates.
During a visit to Tees Valley, deputy leader Angela Rayner, shadow chancellor Rachel Reeves and shadow home secretary Yvette Cooper will unveil their party’s plan to ‘reverse the Tories’ 14 years of decline’ on Britain’s high streets.
Analysis from the party claims that under the Conservatives there are 3,700 fewer fruit and veg shops, butchers and newsagents since 2010. The plan includes replacing business rates with a system of business property taxation that it claims will level the playing field between high street businesses and online retailers.
7.4m struggling with bills and credit repayments in January – FCA
More than seven million people across the UK were estimated to be struggling with bills and credit repayments in January, according to latest data from the City regulator.
Renters, single adults with children, adults from a minority ethnic background and people living in the north-east of England were particularly likely to be in financial difficulty, the Financial Conduct Authority research indicates.
Across the research, one in seven adults (14% or an estimated 7.4m people) felt heavily burdened keeping up with domestic bills and credit commitments at the start of 2024 – an improvement from the one in five (21% or an estimated 10.9m) who felt this way in January 2023.
Wildwood owner Tasty to shut 18 more restaurants
The restaurant firm behind the Wildwood chain has revealed plans to shut a raft of sites as part of a major restructuring.
Tasty, which also runs sites under the Dim T brand, said it plans to axe around 20 loss-making restaurants after a ‘challenging’ start to the year.
The restructuring plan will see the group shut 18 of the restaurants, with two already closed to customers. It hasn’t disclosed which sites have been earmarked for closure.
Cheers as MV Glen Rosa ferry launched in Port Glasgow
A late and over-budget ferry has been launched at a shipyard on the River Clyde.
There were cheers from those watching as the MV Glen Rosa was piped into the water at the publicly owned Ferguson Marine shipyard in Port Glasgow yesterday. The ferry and her sister vessel the Glen Sannox are now some six years late and will cost around three times the original price of £97m.
The 102-metre dual-fuel MV Glen Rosa will be able to carry up to 852 passengers plus at least 127 cars or 16 heavy goods vehicles, or a combination of both, when she enters service.
‘God particle’ physicist Peter Higgs dies at 94
The scientist behind the concept of the subatomic particle the Higgs boson, Professor Peter Higgs, has died aged 94 after a short illness.
Higgs, who was born in Newcastle upon Tyne, predicted the existence of a new particle – the Higgs boson, as it became known – in 1964. The particle’s existence was confirmed in 2012 after experiments at the Large Hadron Collider at Cern.
He won the 2013 physics Nobel Prize for his work that led to the discovery of the so-called ‘God particle’ – the building block of the universe. Higgs died on Monday, Edinburgh University said yesterday.
At least five killed in Hong Kong building fire
A fire at a building in Hong Kong yesterday killed at least five people and left another 27 injured.
Police said they were still receiving calls for help from people inside the New Lucky House building in the Jordan neighbourhood.
Local media including the South China Morning Post said the blaze broke out at a gym on the first floor and was brought under control. An investigation into the cause will be held.
Rare copy of comic featuring Superman’s first appearance sells for £4.7m
A copy of the comic that introduced Superman to the world has sold for a record $6m (circa £4.7m), according to the auctioneer.
Heritage Auctions said the rare copy of Action Comics No 1, which had a cover date of June 1938, was sold to an anonymous buyer, with the price tag making it the most expensive comic to ever sell at auction, it added.
It is estimated that there are only 100 surviving copies of Action Comics No 1 today out of 200,000 that were printed by National Allied Publications, which was the precursor to DC Comics.
George Lucas to be given honorary Palme d’Or at Cannes Film Festival
George Lucas is to be given an honorary Palme d’Or at this year’s Cannes Film Festival.
The 79-year-old American writer, director and producer created the Star Wars franchise, beginning with the first film in 1977, and wrote the stories for the first four Indiana Jones films.
In 2012, he sold Lucasfilm to the Walt Disney Company for $4.06bn (£2.7bn). The honorary Palme d’Or will be presented during the closing ceremony of Cannes on May 25.
Updated styling and more power for the new Audi S3
Audi has revealed an updated version of its sporty S3 hot hatchback with more power and new technology.
The refreshed S3 will be available in two body styles – a five-door hatchback and four-door saloon. Its 2.0-litre TFSI engine produces 328bhp and 420Nm of torque versus the previous model’s 305bhp and 400Nm.
It also boasts a 10.1-inch touchscreen display, DAB radio, plus wireless smartphone charging. The S3 goes on sale in May, with prices to be revealed nearer its launch.
Yesterday’s headlines on Car Dealer you might have missed
- Outgoing Cazoo boss ‘proud’ of used car retailer but dealers say outfit ‘disrespected industry peers’
- Constellation-owned car subscription service Elmo Drive is wound down
- Carmakers will continue to slash new car prices to stimulate demand – Auto Trader
- Swansway Motor Group becomes latest franchise car dealer to partner with BYD
- JLR sees annual sales soar by over 20% thanks to strong global demand
- Plans to turn historic pub into used car showroom are deemed ‘inappropriate’ by authorities
- Lotus racks up £593m loss for 2023 despite selling record number of cars
- Consumer car finance market enjoys first growth in new business volumes since 2022
Market movements
The FTSE 100 closed 8.68 points down yesterday to end the day on 7,934.79. The Cac 40 was down 70.13 points at 8,049.17, the Dax was down 242.28 points at 18,076.69, and the Dow Jones was down 9.13 points at 38,883.67.
Weather outlook
Bright spells will start the day in the east, while further west will be overcast with spells of rain, says BBC Weather. These will be heavy for many and will later spread into the east. It’ll be a windy but milder day.
Thursday will be a cloudier day for most, with showers or longer spells of rain pushing into western areas. To the east and north, there’ll be a better chance of some sunny spells. It’ll continue to be breezy and mild.
