UK banks set to reassure households as tariffs ‘watershed’ moment for economy

UK banks are set to reassure customers and businesses of their support as tariffs signal a ‘watershed’ moment for the economy, experts say.

Some of the country’s biggest high street lenders will publish their latest financial results next week.

The updates come at a critical time for the global economy, with new US tariffs announced by President Donald Trump this month expected to disrupt trade and slow growth in many countries.

Fuel for blast furnaces and iron ore supplies arrive at British Steel

Steelworkers at Scunthorpe have been given a more certain future with the arrival of new raw materials to operate British Steel’s blast furnaces, ministers have announced.

55,000 tonnes of blast furnace coke have arrived in the UK to fuel the Scunthorpe plant in North Lincolnshire, and a shipment of more than 66,000 tonnes of iron ore pellets and 27,000 tonnes of iron ore fines are soon to arrive.

The supplies will sustain steelmaking at Scunthorpe for the coming months into the summer.

Skoda Elroq vRS goes on sale priced from £46,560

Skoda has announced that the hot Elroq vRS will go on sale priced from £46,560.

Under the bonnet, there is an 84kWh battery pack with dual electric motors and all-wheel-drive. In terms of power, it produces 335bhp and the car can sprint from 0-60 mph in 5.2 seconds.

The manufacturer claims that the car can travel up to 339 miles on a single charge, and 185kW DC rapid charging is compatible, enabling a charge from 10 to 80 per cent to take just 26 minutes.

FTSE 100 nudges up in longest streak of gains since 2019

The FTSE 100 edged upwards on Friday after figures revealed UK retail sales unexpectedly rose last month amid warm weather, marking the index’s tenth consecutive day in the green.

London’s blue-chip index ended the week just in the green, rising eight points to finish the day at 8,415, a 0.1% rise. The 10-day winning streak was the FTSE’s longest stretch of unbroken gains since 2019.

Elsewhere, Germany’s Dax rose 0.8% and France’s Cac 40 rose 0.5%.

What you might have missed on Car Dealer

Official: Used car ad platform Heycar is set to close as Volkswagen pulls the plug

Heycar will close after major shareholder Volkswagen Financial Services withdrew funding. Launched in 2019, the used car platform struggled with heavy losses, recording a £22.4m loss in 2023. Operations in the UK, Germany, and France will wind down soon.

Russell Borrie named as Eddie Hawthorne replacement as Arnold Clark CEO

Russell Borrie has officially become CEO of Arnold Clark, succeeding Eddie Hawthorne after 27 years. Borrie, with 33 years at the company, said he’s honoured to lead the business and thanked Hawthorne for his mentorship and immense contribution.

Autoglym launches new training courses to enhance professional car cleaning and detailing skills

Autoglym has launched new hands-on training courses for professional detailers, bodyshops, and workshops at its upgraded academy in Letchworth Garden City. The courses, costing £300–£360, cover machine polishing, detailing processes, and vehicle cleaning techniques, aiming to boost staff skills and customer satisfaction.

Man bought back his own stolen car without realising but details saved in the sat-nav gave it away

After his Honda Civic Type R was stolen, Ewan Valentine unknowingly bought it back while searching for a replacement. Familiar items inside and tampered VIN numbers revealed the truth, with police calling it one of the most convincing car clonings they’d seen.

Boost in UK car manufacturing heaps extra pressure on government to secure US trade deal

UK car manufacturing grew 17.1% in March, ending a year-long decline, driven by export demand. However, the SMMT warned that looming US tariffs pose risks. The government is urged to secure a favourable trade deal to protect the industry.

The outlook for the rest of 2025 is challenging but the opportunities are huge – Auto Trader

As summer approaches, optimism is growing in the car market despite challenges. Auto Trader reports an 11% rise in visits and a 20% surge in new car leads. EV interest is up 60%, driven by discounts and new, attractive models.

More than 40 world records broken by London marathon finishers

A total of 42 world records were broken at the London marathon on Sunday, Guinness World Records (GWR) has announced.

The first was set by Ethiopian runner Tigst Assefa who won the women’s elite race and achieved a new women-only world record with a time of two hours, 15 minutes and 50 seconds, surpassing that of two hours, 16 minutes and 16 seconds set by Peres Jepchirchir during last year’s race.

Radio presenter Adele Roberts also claimed a new world record for the fastest aggregate time to complete all World Marathon Major races with a stoma (female) with a total time of 20 hours, 29 minutes and 58 seconds.

Private parking firms on track to hand out 14.5m tickets in a year – analysis

Private parking companies are on course to issue a record 14.5 million tickets to drivers in Britain in a year, according to new analysis.

The RAC, which conducted the study, said just five businesses are responsible for nearly half of all tickets issued.

It found requests to the Driver and Vehicle Licensing Agency (DVLA) by car park management companies reached 7.2 million in the six months to the end of September 2024.

Hottest day of year so far expected this week as temperatures set to hit 28C

The hottest day of the year so far is expected this week as temperatures are set to hit 28C, the Met Office said.

The UK could see temperatures of 24C or 25C today, which will rise each day until a peak on Wednesday or Thursday of 28C, with a small chance of seeing 29C, the forecaster said.

There will also be widespread sunshine, with only the northern parts of Scotland expected to see some rain.