6:30 am, April 25, 2025
West ‘cannot be agnostic or naive’ about where goods are made, Reeves tells IMF
The West ‘cannot be agnostic or naive’ about where goods are made, the chancellor has told a gathering of foreign finance ministers as she prepares for talks with her US counterpart.
Rachel Reeves told the International Monetary Fund’s spring meetings in Washington that she wanted to see tariffs and trade barriers come down, but added the US ‘have a point’ that global trade had become too unbalanced.
Arguing that the US and UK governments had ‘a democratic mandate from people to change things’, she said: ‘There’s been a feeling in my country and in America and many other developed countries that the system we have today delivers for some, but not for all and that jobs have been hollowed out in certain sectors of the economy.’
Consumer confidence slides amid household bill hikes and ‘Trump Tariffs’
Consumer confidence has seen a sharp drop as households grapple with across-the-board bill hikes and face new warnings of rising inflation.
GfK’s long-running Consumer Confidence Index fell four points in April to minus 23, led by an eight-point fall in expectations for the wider economy over the coming year.
The measure of confidence in the general economic situation over the next 12 months is now at minus 37 – 16 points worse than last April.
Volkswagen’s first plug-in hybrid campervan arrives on the market
Volkswagen has announced that its first plug-in hybrid campervan will soon be available to buy in the UK.
The California eHybrid 4Motion, which starts from £71,295, blends together a 1.5-litre turbocharged petrol engine and a 19.7kWh battery which can deliver up to 54 miles of electric-only running from a full charge. Volkswagen says that the powertrain still enables the California to tow up to 1,600kg, too.
As with the regular California, you’ll find a series of trim levels available. However, all get two sliding doors for easier entry and exit, along with a mini kitchen and a variety of USB-C charging ports to help keep devices topped up. Plus, a camper parking heater and fuel-powered auxiliary heater on all models help keep things as comfortable as possible when at the campsite.
The markets
London’s top financial index has inched higher after spending most of the day in negative territory during a cautious session. It finished up by 0.05%, or 4.26 points, to close at 8,407.44. It took the index to its highest closing price for three weeks.
The Cac 40 ended 0.27% higher for the day and the Dax index was up 0.49%.
The pound was 0.38% higher at 1.330 US dollars and was up 0.05% at 1.170 euros, to its highest level this week, when London’s markets closed.
New laws that could see water bosses jailed over sewage spills come into force
Water company bosses face up to two years in prison if they cover up illegal sewage spills under new laws coming into force on Friday.
The Environment Department (Defra) said no prison sentences have been handed to water company executives since privatisation despite widespread illegal sewage discharges, and the tougher penalties were essential because some firms have obstructed investigations.
Environment secretary Steve Reed said: ‘Bosses must face consequences if they commit crimes. There must be accountability. From today, there will be no more hiding places.’
Opinion polls suggest unsettled public mood ahead of May 1 elections
All the parties standing in the May 1 local and mayoral elections will be aware that opinions polls suggest there has been an unsettled public mood in recent months.
An average of polls completed in the seven days to April 20 puts Reform on 25%, Labour on 23% and the Tories on 21%.
Some 1,641 council seats in England are up for grabs on May 1 across 23 local authorities.
Thursday on Car Dealer
Group 1 Automotive more than doubles UK profit in first quarter of 2025
Group 1 Automotive’s UK profit more than doubled in Q1 2025 to £162.9m, driven by acquisitions and restructuring. Revenue rose 92% to £1.2bn. Operational improvements, dealership additions, and cost management boosted performance amid continued UK portfolio optimisation.
Car Dealer’s James Baggott reveals what has caught his eye on trip to Shanghai Motor Show
Taking place this week, the Shanghai Motor Show has seen car brands from across the globe race to China to show off their latest models at the National Convention & Exhibition Centre.
UK drives a boom in European car registrations with Tesla ahead in EV market
March 2025 was Europe’s second-best month for EV registrations, with over 240,000 BEVs registered. Tesla led despite falling volumes, while overall car sales rose 3.2%. The UK drove growth, and Peugeot 208 was the month’s top-selling model.
Tesla Model 3 named UK fastest selling used car as EVs fly off the forecourts
Despite hesitation from some dealers, used BEVs—led by the Tesla Model 3—are gaining traction in the UK. Model 3 topped sales, with BEVs hitting record market share in March. Prices stabilised, and dealer stock is rising to meet growing demand.
Weather
Rain will affect Northern Ireland and western Scotland today, with cloud and sunny spells elsewhere, reports BBC Weather. Tonight stays cloudy with rain in the west, clearer in the east.
Saturday starts wet in the west but improves later. Sunday brings showers in the north, sunnier and warmer in the south-east. Temperatures will begin to climb to 19 degrees over the weekend and continue into the early 20s next week.
