6:26 am, August 8, 2024
UK economy fared better in 2022 than previously thought, new figures show
The UK economy grew by more than expected during 2022, as revised official data showed the economy did better in the face of soaring inflation and post-pandemic recovery than previously thought.
The estimate for gross domestic product (GDP) rose from 4.3% to 4.8% in 2022, a larger than usual upgrade, according to the Office for National Statistics (ONS).
This was primarily driven by stronger growth in the transport, professional and business support services industries during the year. Although it was partially offset by downgrades to growth in the manufacturing and healthcare sectors.
Bensons for Beds buys 19 former Carpetright shops after collapse
Bensons for Beds has snapped up 19 Carpetright stores after the collapse of the carpet retailer.
The bed specialist also said it hopes to create job opportunities for former Carpetright staff when it reopens the stores under its brand.
Carpetright tumbled into administration last month after struggling in the face of weaker demand and a major cyber attack in April. The company employed 1,852 people and operated 273 stores across the UK before entering insolvency.
Range Rover Sport SV now comes as an Edition Two
The most powerful Range Rover yet has a new special edition.
The SV Edition Two follows on from the Edition One, funnily enough, and comes with extra ‘themes’ to help owners personalise it. Blue Nebula Matte, Marl Grey Gloss, Sunrise Copper Satin and Ligurian Black Gloss exterior paint finishes are on offer. Each colour comes with its own ‘theme’ and specific equipment to mark it out further.
All cars get the same 626bhp 4.4-litre, twin-turbocharged V8 as found in the Edition One, but the Edition 2 gets different tyres. Prices are expected to cost more than the £171,460 Edition One.
The markets
London’s FTSE 100 was among the global markets to rally strongly on Wednesday.
Monday dire trading was firmly behind traders as sentiment turned sharply positive due to improving hopes over the economic outlook.
The FTSE 100 finished 140.19 points, or 1.75%, higher to end the day at 8,166.88. The Dow Jones and the Nikkei 225 were down though by 0.60% and 0.82%, to finish 38,763.45 and 34,803.44 respectively.
Fears of further disorder quashed as thousands show for counter protests
Thousands of peaceful anti-racism demonstrators appeared to quash fears of further violent disorder on Wednesday night, despite the threat of more than 100 planned protests.
In many towns and cities shops were boarded up over fears of further rioting after a week of violent disorder which started in Southport, Merseyside, on July 30, but in most places, planned anti-immigration protests failed to materialise.
On Wednesday evening, large numbers of counter-protesters gathered in areas including Walthamstow, east London, Bristol, Brighton, Liverpool and Sheffield. According to Stand Up to Racism, an estimated 25,000 people took to the streets to take a stand – they said – against racism and violence.
WHO considers public health emergency over mpox outbreak in Africa
The World Health Organisation (WHO) will convene an expert group to determine if the increasing spread of the mpox virus in Africa warrants being declared a global emergency.
WHO director-general Tedros Adhanom Ghebreyesus told a press briefing in Geneva that, given the increasing spread of mpox cases beyond Congo, he has decided to ask independent experts to advise WHO ‘as soon as possible’.
Last week the Africa Centres for Disease Control and Prevention (Africa CDC) reported that mpox, also known as monkeypox, has been detected in 10 African countries this year including Congo, which has more than 96% of all cases and deaths. Compared with the same period last year, the agency said cases are up 160% and deaths have jumped by 19%.
Yesterday on Car Dealer
Subaru is voted best car brand by owners as buyers deliver brutal verdict on MG
Subaru was voted the best car brand in a new Auto Express survey, followed by Tesla, Kia, and Porsche. Subaru excelled in five categories, scoring 90.66% in overall satisfaction. MG ranked lowest with 82.01%, just behind Fiat and Ford.
‘Covid cars’ causing headaches for used car dealerships after semiconductor crisis
Used car dealers face difficulties valuing and selling 2020-2021 models due to specification anomalies from the semiconductor crisis. Missing features, such as heated seats and electric mirrors, create confusion and lower resale values. The Vehicle Remarketing Agency is investigating these issues to provide clarity and prevent misdescriptions and customer rejections.
Consumer car finance new business volumes and values suffer another hit
The consumer car finance sector saw an 11% year-on-year drop in new business volumes in June, with 167,241 cars financed. The value of advances fell 10% to £3.215m. New car finance dropped 6% in value, while used car finance decreased by 13%.
Police launch manhunt after yobs in balaclavas set fire to DVLA vehicle in ‘brazen’ attack
A police investigation is underway after two balaclava-wearing men set fire to a DVLA vehicle in Bushmills, Co Antrim. They forced the driver out, doused the car in accelerant, and fled. Police are seeking public assistance to identify the suspects.
Waylands poaches Vicky Hart from Hendy to make her group marketing and digital sales chief
Waylands Automotive appointed Vicky Hart as head of marketing and digital sales. Hart, with over a decade of experience, joined from Hendy Group. She aims to enhance Waylands’ marketing and digital sales operations. CEO John O’Hanlon praised her experience and anticipated her pivotal role in the company’s future.
Weather
The north and far east will see sunshine this morn ing before it gradually clouds over with spells of rain, reports BBC Weather. This outbreak of rain will begin in the south-west and push north-eastwards across the UK; heavy for some. Top temperatures will be in the low twenties.
Showers will continue in the north and west but will ease towards dawn. Further south it will be cloudy with the odd shower.
