6:55 am, April 14, 2023
Pension system needs ‘big reform’ to ensure higher returns, says Hunt
The chancellor has suggested the pension system needs reform to ensure people receive higher returns.
Jeremy Hunt said he is concerned that pensioners are not getting ‘the returns that they could expect’, according to the Daily Telegraph.
The chancellor was speaking in Washington where he is attending the spring meeting of the International Monetary Fund with other finance ministers. The Telegraph reported the chancellor as saying that Britain’s pensions industry is in need of ‘big reform’ and could take inspiration from other countries which allow pension funds to seek higher returns, but which potentially take on more risk.
Nursing union to reveal pay ballot result as junior doctors remain on strike
A nursing union is set to announce the result of a ballot over a government pay offer on Friday, as around 47,000 junior doctors stage a fourth day of strike action in England.
Members of the Royal College of Nursing (RCN) and Unison, which represents nurses and other health workers, have been voting on a proposed deal which includes a five per cent pay rise this year and a cash payment for last year.
Voting ends on Friday and the RCN is set to announce the final result later.
British fashion designer Dame Mary Quant dies aged 93
Fashion designer Dame Mary Quant, who was widely credited with popularising the mini skirt, has died at the age of 93, her family said.
The British fashion designer died peacefully at her home in Surrey on Thursday morning, a statement from her family to the PA news agency said.
Her clothes were popularised by famous faces including model Jean Shrimpton, photographer and model Pattie Boyd, Cilla Black and Twiggy, with Boyd remembering her as a ‘true icon’ following the news of her death.
US guardsman held over release of classified military documents
A Massachusetts Air National Guard member has been arrested after the disclosure of highly classified military documents on the Ukraine war, US attorney general Merrick Garland said.
Investigators believe that the guardsman, who specialises in intelligence, led the online chat group where the documents were posted.
Garland identified the guardsman as 21-year-old Jack Teixeira and said he would be charged with the unauthorised removal of classified national defence information.
Bank’s chief economist says UK economy still set to contract this quarter
A flatlining economy is ‘somewhat disappointing’ but still a significant improvement from the Bank of England’s previous forecast of a deep and prolonged recession, its chief economist has said.
But the UK is still expected to contract by 0.1 per cent in the first quarter of this year.
Huw Pill, speaking at a panel event with Market News International Connect, referenced the latest official gross domestic product (GDP) figures which showed there was no growth in the economy in February.
European Space Agency in second launch attempt to Jupiter and its moons
The European Space Agency will make a second attempt to launch after its mission to Jupiter and its moons was postponed as a result of unfavourable weather conditions.
The six-tonne probe, named Juice (Jupiter Icy Moons Explorer), was due to blast off on Thursday to the solar system’s biggest planet to see if its ocean-bearing moons support life.
But weather conditions showed there was a risk of lightning, temporarily pausing what would have been the agency’s first attempt to send spacecraft to orbit another planet’s moon. The next attempt will take place on April 14 at 1.14pm UK time.
Thursday Car Dealer headlines you might have missed
- Car dealers fear huge bill increases as a result of secret row between suppliers and Keyloop
- Used car sales jumped by 6.8 per cent in March for Top 200 dealers
- Caterham to ramp up production by up to 50 per cent as it confirms move to state-of-the-art new premises
- High Court rules that legal challenge into London’s Ultra Low Emissions Zone can proceed
- Appetite for purchasing vehicles remains strong despite cost of living crisis, finds eBay Motors Group
Tesco sees dip in profit as inflation soars
Tesco saw its profit more than half last year before tax as the business faced ‘unprecedented’ rises in the prices that its suppliers were charging.
Bosses said the supermarket giant had come under pressure from rising prices as its customers also struggled under soaring inflation.
Pre-tax profit fell from just over £2bn to around £1bn in the year to the end of February, the business revealed on Thursday. On an adjusted basis, operating profit dipped 6.9 per cent to £2.6bn, in line with what analysts had expected. The profit was hit by a trio of issues, including lower sales volumes, investment in the business and steep cost rises, Tesco said.
Rally driver Craig Breen dies in testing accident
Irish rally star and World Rally Championship driver Craig Breen has died in an accident in a pre-event test ahead of this weekend’s Croatia Rally.
His team, Hyundai Motorsport, confirmed the 33-year-old had been involved in an accident about 11.00 BST on Thursday, April 13. His co-driver, James Fulton, was unharmed.
Breen had rejoined the Hyundai team part-time for this year’s season, having spent a year with the M-Sport Ford World Rally Team.
Alfa Romeo celebrates 100 years of Quadrifoglio with special edition Giulia and Stelvio models
Alfa Romeo is commemorating 100 years of its famous Quadrifoglio models with a pair of limited-edition cars.
Just 100 examples of the Giulia and Stelvio 100th Anniversario will be produced. The cars’ V6 engine is boosted from 503bhp to 512bhp and a new mechanical locking differential has also been fitted. There are also gold brake callipers and other special 100th anniversary details.
April 15, 2023, will mark exactly 100 years since the Quadrifoglio made its debut, with the four-leaf clover badge adorning the race-winning RL of Ugo Sivocci in the 1923 Targa Florio.
Weather outlook
Cloudy skies and rain in central and southern areas today, reports BBC Weather. There will be outbreaks of sun in other areas. Highs of 12 degrees celsius, which remains below average.
Cloud and rain will clear to the east tonight. It should be a clear night for practically all areas.
