6:33 am, August 27, 2024
Shop prices fall in August for first time in nearly three years, figures show
Prices in shops are falling for the first time in nearly three years, new figures show.
Retailers slashing prices to get rid of summer stock helped overall shop prices fall into deflation in August for the first time since October 2021, according to an influential retail group. Deflation is when the general level of prices for goods and services decreases, and happens when the inflation rate falls below 0%.
Shop prices in August were 0.3% lower than a year earlier, the British Retail Consortium (BRC)-NielsenIQ Shop Price Index found. The figure is down from inflation of 0.2% in July and below the three-month average rate of 0%.
Thousands of Next store workers win equal pay claim
Several thousand former and current Next employees have won a landmark equal pay claim against the high street retailer after a six-year legal battle.
An employment tribunal involving 3,540 claimants has ruled that Next failed to demonstrate that the lower basic wage paid to sales consultants compared with warehouse operatives was not the result of sex discrimination.
Between 2012 and 2023, the period examined by the tribunal, 77.5% of retail consultants at the fashion and homeware retailer were female, and 52.75% of warehouse operators were male, according to the ruling. Next said it intends to appeal.
New Cupra Tavascan is priced from £47,340
Cupra has announced that order books are to open soon for its new electric SUV – the Tavascan.
Rivalling its sisters, the Volkswagen ID.5 and Skoda Enyaq, the Tavascan will come with a 77kWh battery pack and two different power outputs. Trims will be V1, V2, VZ1 and VZ2, although equipment levels have not been revealed yet.
The car will be fully launched on September 11, but if customers reserve a car before that date they will receive on of the first 50 cars to arrive in the UK. Prices start at £47,340 and rise to £60,835.
The markets
The FTSE 100 rose on Friday after US Federal Reserve chairman Jerome Powell signalled that he will cut interest rates at the central bank’s next meeting.
The blue chip index rose 39.78 points, or 0.48%, to end the day at 8,327. Europe Frankfurt’s Dax index rose 0.77%, while the Cac 40 in Paris closed up 0.69%.
Stateside, after markets had closed in Europe the S&P 500 had gained 0.84%, while the Dow Jones was 0.91% higher. The pound had gained 0.77% against the dollar at 1.3192 and had risen 0.18% against the euro at 1.1802.
Five stabbings at Notting Hill Carnival climax, police say
Five people have been stabbed on the closing day of the Notting Hill Carnival, the Metropolitan Police said.
Two of those who were stabbed are in a life-threatening condition, the force said, adding that the 32-year-old woman stabbed on Sunday also remains in a life-threatening condition. There was also an incident involving a corrosive substance, the Met said.
Police made at least 230 arrests on Monday, including 49 for possession of an offensive weapon. Three firearms were seized, and 35 officers were injured.
Ukraine president says Russian bombardment involved 100 missiles and 100 drones
Russia battered much of Ukraine on Monday, firing scores of missiles and drones that killed four people, injured more than a dozen and damaged energy facilities in attacks that president Volodymyr Zelensky described as ‘vile’.
The barrage of more than 100 missiles and a similar number of drones began around midnight and continued through daybreak in what appeared to be Russia’s biggest onslaught in weeks.
Ukraine’s air force said swarms of Russian drones fired at eastern, northern, southern, and central regions were followed by volleys of cruise and ballistic missiles.
Friday on Car Dealer
Car dealer Robin Luscombe raises £23,000 for prostate cancer as he speaks out on his own battle
After recovering from prostate cancer, car dealer Robin Luscombe has raised over £23,000 for Prostate Cancer UK through a trials bike marathon event. He also provided home blood test kits for his staff, urging men to get tested early to detect the disease.
BMW topples Tesla as it leads European BEV market for first time
BMW topped Europe’s EV brand ranking in July with a 35% increase, while Tesla saw a 16% decline. European vehicle registrations rose 2% year-on-year, with SUVs reaching a record 54% share. EV market share dropped to 13.5%.
Arnold Clark signs up as official partner of Scottish Car of the Year Awards
Arnold Clark has been named as the official partner for the 2024 Scottish Car of the Year Awards, organized by the Association of Scottish Motoring Writers. The event will be held on November 28 in Edinburgh, and CEO Eddie Hawthorne said: ‘The Scottish Car of the Year Awards is one of the biggest nights in the calendar for the automotive industry and we’re very excited to be this year’s official partner.’
Family-run Ron Brooks Motor Group to open new Omoda and Jaecoo dealership in Leicester
Ron Brooks Motor Group, a family-run dealer, is expanding into Leicester with a new showroom for Chinese brands Omoda and Jaecoo. This marks their first venture in Leicester, aligning with their growth strategy to strengthen regional relationships and market presence.
John Clark Motor Group opens second MG dealership after franchise acquisition
John Clark Motor Group acquired a second MG outlet in Perth from West End Motor Group, strengthening its regional presence and commitment to the MG brand. The group now operates MG franchises in Perth and Dundee, offering new, used cars, and aftersales services.
Weather
Outbreaks of heavy rain in the north and west today, reports BBC Weather, and these will clear to leave a sunny day. The south-east of England will be warm with hazy sunshine all day. Temperatures will be up to 25 degrees in the sunshine, and 19 degrees elsewhere.
It’ll be a clear night for most, although Northern Ireland will see some showery rain and there will be patchy showers in southern Scotland, western England and Wales.
