6:41 am, August 14, 2024
Inflation set to rise above 2% in first increase this year
Inflation is set to rise for the first time in 2024 this week, in new data which highlights the battle facing the Bank of England to keep prices in check.
Economists expect official figures on Wednesday to show that inflation rose above the Bank’s 2% target in July, driven in part by holiday-related price rises for airfares and hotels.
Consultancy Pantheon Macroeconomics said it thinks inflation rose 2.3% between July 2023 and 2024, after it held at 2% for the years to May and June.
Post Office IT chief leaves firm amid Horizon delays
Post Office tech chief Chris Brocklesby has quit his job as the tax of replacing the troubled Horizon IT system faces severe delays and escalating costs, reports BBC News.
Hired as ‘chief transformation officer’ in August 2023, Brocklesby exits on September 6, after the Post Office struggled to replace Horizon due to its age and complexity.
Despite spending over £95m extending the current system’s contract, a full replacement may not be ready until the decade’s end. Brocklesby will be succeeded by former Camelot transformation director Andy Nice as the Post Office continues working on pilot programs and securing government funding.
Vauxhall prices up Grandland SUV
Vauxhall has opened order books for its new Grandland range-topping SUV.
Prices start from £34,700 for the 1.2-litre hybrid in Design trim, and rise to £38,400 for the Ultimate. Electric models, using a new 73kWh battery pack for a range of up to 325 miles, start at £40,995 and top out at £45,195. Deliveries commence from October, while a PCP offer means that electric versions have monthly payment parity with the equivalent hybrid model.
The Grandland is 173mm longer, 19mm higher and 64mm wider than the outgoing model, and has a number of new exterior features, including an illuminated Griffin badge and new LED Matrix headlights that feature over 50,000 LEDs.
The markets
The UK’s top stock market index moved higher on Tuesday as the latest official figures showed the jobs market was stronger than expected.
London’s FTSE 100 had been treading water but made some late afternoon gains, moving 24.98 points higher, or 0.3%, to close at 8,235.23. France’s Cac 40 moved 0.35% higher and Germany’s Dax was up 0.48%, while in the US, the S&P 500 was up about 1% and Dow Jones up 0.5%.
The pound was also strengthening after the latest labour market data. It was up 0.4% against the US dollar at 1.282, and 0.2% against the euro at 1.171.
Violent crimes against women on Britain’s trains jump by more than 50%
Violent attacks against women on British railways have more than doubled since 2021, as per new data published by The Times.
The number of crimes against women and girls rose from 7,561 in 2021 to 11,357 in 2023, and the number of sexual offences jumped 10 per cent, the newspaper reported. Sexual harassment reports also doubled over the last two years, rising to 1,908.
A British Transport Police (BTP) survey released last year revealed more than a third of all women travelling by rail would be assaulted during their commute.
US approves 20 billion dollars in weapons sales to Israel
The US has approved 20 billion dollars in arms sales to Israel, including scores of fighter jets and advanced air-to-air missiles, the State Department has announced.
Congress was notified of the impending sale, which includes more than 50 F-15 fighter jets, Advanced Medium Range Air-to-Air Missiles or AMRAAMs, 120mm tank ammunition and high explosive mortars and tactical vehicles. It comes at a time of intense concern that Israel may become involved in a wider Middle East war.
However, the weapons are not expected to get to Israel any time soon as they are contracts that will take years to fulfil. Much of what is being sold is to help Israel increase its military capability in the long term.
Yesterday on Car Dealer
Jaguar dealers will have no new cars to sell in 2025 as carmaker readies luxury electric GT for ’26
JLR dealers will not sell new Jaguars for most of 2025 as the brand transitions to a luxury electric vehicle lineup. Current models, including the I-Pace, will be discontinued, leaving only the F-Pace until Jaguar’s new electric GT debuts in 2026. The F-Pace will disappear early next year, though, meaning there will be a 12-month gap before Jag dealers have a new car to sell.
Fraudster narrowly avoids jail after financing brand new BMW under a fake name
Christopher Hudson, 44, narrowly avoided jail after using a fake identity to fraudulently purchase a £45,000 BMW on finance from a dealership in London in 2021. He stopped payments and evaded the finance company until police seized the vehicle in August 2022. Hudson received a 15-month suspended sentence, unpaid work, and fines.
LSH Auto tells of importance of apprenticeships as it welcomes latest intake
LSH Auto has welcomed 20 new apprentices, including young women, into various roles such as light vehicle technicians and customer service experts. This intake boosts the total number of apprentices to 74, reflecting the company’s commitment to nurturing talent and promoting diversity in the automotive industry.
Vertu Motors extends partnership with Sunderland AFC as new season kicks off
Vertu Motors has extended its sponsorship of Sunderland AFC through the 2025/26 season under its Bristol Street Motors brand. The partnership, which began in 2021, aligns with Vertu’s wider football sponsorships, including the English Football League. Vertu Motors’ CEO Robert Forrester expressed enthusiasm for continuing the collaboration as Sunderland aims to return to the Premier League.
Weather
The south and east of England will have a cloudy day with light showers in the morning, reports BBC Weather. It’ll be drier and sunnier elsewhere but cooler, with temperatures topping out at 23 degrees.
A blustery night in Scotland and Northern Ireland, with rain sinking southwards. Cloudy in Wales and western England, but clear elsewhere.
