Porsche 928, Tom CruisePorsche 928, Tom Cruise

News Round-Up

Aug 6: Riots continue; Google has ‘illegal’ monopoly; Wall Street crash; Tom Cruise Porsche

Here are the headlines on Tuesday, August 6

Time 6:33 am, August 6, 2024

Police officers injured in Plymouth as violence continues for seventh day

Police officers have been injured during ‘sustained violence’ in Plymouth as disorder continued for a seventh day after the Southport stabbings with more than 370 arrests made so far.

Devon and Cornwall Police said six arrests were made in Plymouth on Monday after ‘several officers’ suffered minor injuries and two members of the public were taken to hospital.

It came after bricks and fireworks were launched towards officers who had attempted to keep rival demonstrations apart in the Devon port city.


Retail sales make subdued recovery as washout summer dries up

The late arrival of summer returned retail sales to growth – boosted by consumers buying clothing and beauty products in preparation for the holidays, figures show.

Total retail sales increased by 0.5% year on year in July, although this was relatively subdued against 2023’s 1.5% growth, according to the British Retail Consortium (BRC)-KPMG Retail Sales Monitor.

Food sales were up 2.6% year on year over the three months to July, but again well down on last year’s growth of 8.4%. Sales of items other than food fell 1.7% year on year over the quarter, the three months to July, against a decline of 0.5% in July 2023, as consumer spending on holidays and entertainment squeezed out sales of indoor goods such as furniture and household appliances.


Google illegally maintains monopoly over internet search, judge rules

A judge has ruled that Google’s search engine has been illegally exploiting its dominance to quash competition and stifle innovation in a decision that could shake up the internet and hobble one of the world’s best-known companies.

After reviewing reams of evidence that included testimony from senior executives at Google, Microsoft and Apple during last year’s 10-week trial, Judge Mehta issued his decision three months after the two sides presented their closing arguments in early May.

Google ‘enjoys an 89.2% share of the market for general search services, which increases to 94.9% on mobile devices’, the ruling said. Google will almost certainly appeal against the decision in a process that may land in the Supreme Court.

Migrants arrive in Dover after Channel crossings top 17,000 for the year

Migrants wearing life jackets arrived in Dover on Monday after more than 17,000 Channel crossings were recorded for the year so far.

The crossings comes as Home Office data recorded 139 people arriving in three boats on August 4, taking the provisional total for the year so far to 17,170.

The number of arrivals for 2024 to date is 15% higher than this time last year (14,994) but 3% down on the same period in 2022 (17,611), according to PA news agency analysis of Government data.

Kamala Harris officially secures Democratic presidential nomination

Vice president Kamala Harris, a daughter of immigrants who rose through the California political and law enforcement ranks to become the first female vice president in US history, formally secured the Democratic presidential nomination on Monday.

She is the first woman of colour to feature at the top of a major party’s ticket.

An Associated Press-NORC Centre for Public Affairs Research poll conducted after Joe Biden withdrew found 46% of Americans have a favourable view of Harris, while a nearly identical share has an unfavourable view of her.


Dow drops 1,000 points and Japanese stocks suffer worst crash since 1987

A scary Monday that started with a plunge abroad reminiscent of 1987’s crash swept around the world and pummelled Wall Street with more steep losses, as fears worsened about a slowing US economy.

The S&P 500 dropped 3% for its worst day in nearly two years. The Dow Jones Industrial Average reeled by 1,033 points, or 2.6%, while the Nasdaq composite slid 3.4%.

The drops were the latest in a global sell-off that began last week. Japan’s Nikkei 225 helped begin Monday by plunging 12.4% for its worst day since the Black Monday crash of 1987.

Listen to the latest Car Dealer Podcast

Octopus EV’s Natalia Peralta Silverstone joins Jon Reay and James Baggott this week, and they chat about Mike Brewer’s scam warning, Mark Raban to head up Group 1 Automotive and Inchcape, and why Baggott is (probably) wrong about EVs.

Fuel prices ‘stubbornly static’ in July – analysis

Fuel prices were “stubbornly static” in July despite wholesale prices justifying cuts, according to new analysis.

The RAC said the average prices of a litre of petrol and diesel at UK forecourts last month remained static at 145p and 150p respectively.

The motoring services company said per litre wholesale prices mean drivers should be paying just 140p for petrol and 142p for diesel.

Monday Car Dealer headlines you might have missed

Tom Cruise’s ‘Risky Business’ Porsche 928 could fetch £1.4m at auction

A Porsche 928 featured in the film ‘The Risky Business’ will go up for auction at Bonhams cars in America next week.

The Porsche was reported to have been used by the film star Tom Cruise who learnt how to operate a manual transmission behind the wheel.

A total of three 928s were used for the driving shots in the film, with the one being offered for sale being used for any wide shots with the whole car in view. It’s predicted to sell for between £1.1 to £1.4m when the auction begins on August 16.

Weather

A cloudy and humid start in the south-east today with rain gradually clearing eastwards, reports BBC Weather. It’ll be dry with sunny spells in other places, but the north-east will be rainy with scattered showers. Temperatures will top 24 degrees in the south and 21 in the north.

The showers in the north-west will turn into longer spells of rain tonight. Elsewhere, it’ll be dry with clear spells.

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer. In October 2021 he became Car Dealer's associate editor.



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