6:40 am, August 19, 2022
Consumer confidence hits record low
Consumer confidence has hit a record low in the face of the soaring cost of living and bleak economic prospects.
GfK’s long-running Consumer Confidence Index fell three points in August to minus 44 – its lowest figure since records began in 1974.
GfK client strategy director Joe Staton said: ‘Just making ends meet has become a nightmare and the crisis of confidence will only worsen with the darkening days of autumn and the colder months of winter.’
Judge denies bail for man accused of attacking Sir Salman Rushdie
A judge has refused to grant bail to the man accused of trying to kill Sir Salman Rushdie as the acclaimed author prepared to give a talk in western New York.
Hadi Matar, 24, appeared in a western New York courtroom after a grand jury indicted him on charges that he rushed the stage at the Chautauqua Institution and stabbed Sir Salman multiple times. Matar has denied attempted murder and assault charges.
Sir Salman, 75, is receiving treatment in a Pennsylvania hospital for severe wounds. His literary agent, Andrew Wylie, has said he had a damaged liver and severed nerves in an arm and could lose an eye.
Apple warns of security flaws for iPhones, iPads and Macs
Apple has disclosed serious security vulnerabilities for iPhones, iPads and Macs.
The software flaws could potentially allow attackers to take complete control of these devices, it said in two security reports.
Security experts have advised users to update affected devices: the iPhones6S and later models, several models of the iPad including the fifth generation and later, all iPad Pro models and the iPad Air 2, plus Mac computers running MacOS Monterey. It also affects some iPod models.
‘Humanitarian crisis’ in UK if action not taken on energy bills, say NHS bosses
Health sector leaders warn the UK faces a ‘humanitarian crisis’ of worsening health outcomes unless the government does more to help with rising energy costs.
Families are looking ahead to a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October – before rising again next year.
Surging prices mean people will have to choose between skipping meals to heat their homes or living in poor conditions, the NHS Confederation said in a letter to ministers.
Union outrage as P&O Ferries owner makes record profit
One of the UK’s top union bosses says the owner of P&O Ferries has got off ‘scot-free’ for firing 800 workers after the firm reported record profits.
DP World said it made a profit of $884m (£736m) over the six months to the end of June – an increase of more than 51 per cent over the year.
Frances O’Grady, secretary general of the Trades Union Congress, called on the government to scrap all its contracts with DP World, saying: ‘DP World have been allowed to get away scot-free with behaving like corporate gangsters.’
Drought declared in part of Wales
A drought has been officially declared in part of Wales after an extended period of dry weather and low rainfall caused water levels to plummet.
Natural Resources Wales said the threshold to trigger drought status in south-west Wales was met yesterday.
The areas affected include North Ceredigion, Teifi, Pembrokeshire, Carmarthen, Swansea, Llanelli, Neath Port Talbot and Bridgend. A hosepipe ban has also been brought into effect in Pembrokeshire and parts of Carmarthenshire.
Water company bosses got 20 per cent pay rise amid sewage ‘scandal’, say Lib Dems
The average water company boss’s total pay rose by 20 per cent over the last year as a ‘national scandal’ of leaks and sewage being pumped into the sea continues, research has suggested.
Analysis by the Liberal Democrats found the 22 water company executives across Great Britain were paid £24.8m, including £14.7m in bonuses, benefits and incentives in 2021/2022.
Pollution warnings were put in place on 40 beaches across England and Wales this week, mostly on the south coast, after flash flooding overwhelmed sewage systems. Lib Dem environment spokesperson Tim Farron said: ‘This is a national scandal.’
Polestar to establish UK head office and test-drive hub
Swedish automotive brand Polestar is to create a UK head office at Bicester Heritage later this year.
The HQ will include operational staff to support the 8,000 Polestar customers currently in the UK. Sales, marketing, operations and communications will also operate out of the site.
Alongside this operational unit will be a new customer test-drive hub.
Thursday Car Dealer headlines you might have missed
- Automotive sector ‘is facing its biggest skills challenge of the past 20 years’
- Why are used cars so expensive? What has caused a new car shortage and when will prices fall?
- Stoneacre survey finds that drivers believe charging infrastructure is not ready for rising EV numbers
- Eastern Western Motor Group to open new Mercedes dealership in Dunfermline
- Volvo’s Chinese owner records £156m net profit for first half of 2022
- GardX launches new brand identity and enhanced digital offering for its Assure insurance arm
- Warrantywise launches new partner programme aimed at increasing dealership profits
Rail union bosses warn pay dispute will continue ‘for as long as it takes’
Rail union leaders have warned the long-running dispute over pay, jobs and conditions will continue ‘for as long as it takes’ as a fresh strike caused travel chaos yesterday.
Tens of thousands of members of the Rail, Maritime and Transport union (RMT), Transport Salaried Staffs Association and Unite walked out, affecting Network Rail and train operators across the country, with only around one in five trains running and some areas having no services all day.
Another strike will be held tomorrow, while RMT members on London Underground and London Overground plus some Unite bus drivers in the capital will take industrial action today.
Market movements
The FTSE gained 26.10 points yesterday to close on 7,541.85. Meanwhile, the Cac 40 rose by 29.08 points, ending on 6,557.40, the Dax was up 70.70 points, finishing on 13,697.41, and the Dow Jones gained 18.72 points to close on 33,999.04.
Weather outlook
Any rain today will soon clear, says BBC Weather, leaving Wales and England dry with sunny spells. Scotland and Northern Ireland will have a mixture of showers and sunny spells.
Saturday will see the south start dry with sunny spells, with a few scattered showers developing in places during the afternoon. Northern areas, meanwhile, will be windy with rain pushing southward.
