6:36 am, December 10, 2022
Bank of England predicted to hike interest rates to 3.5 per cent
The Bank of England is expected to push interest rates even higher next week, putting further pressure on mortgages.
In a crunch meeting on Thursday, the monetary policy committee will make a decision that could push up the amount that millions of mortgage-holders have to pay their banks every month.
The decision is expected to push up the Bank’s base interest rate from three per cent to 3.5 per cent – its highest for 14 years.
Rail union boss calls for urgent meeting with PM
The leader of the biggest rail workers’ union has called for an urgent meeting with the prime minister to help resolve the long-running dispute over pay, jobs and conditions.
Members of the Rail, Maritime and Transport union (RMT) are due to stage two 48-hour strikes next week following months of industrial action over the deadlocked row.
RMT general secretary Mick Lynch has written to Rishi Sunak saying a meeting was now the best prospect of making any progress. Strikes are due to be held on December 13 and 14, as well as December 16 and 17.
Primark to open 10 shops before Christmas
Primark will open 10 new shops before Christmas as it continues with its expansion plan, the budget fashion retailer’s owner Associated British Foods (ABF) said.
The announcement came after ABF held firm on its trading guidance for the year ahead of its annual meeting yesterday.
Chairman Michael McLintock told shareholders: ‘For the full year, we continue to expect significant growth in sales for the group, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year.’
Orion capsule set for splashdown after moon mission
Nasa’s Orion spacecraft is making its way back to Earth after a trip around the moon that lasted 25 days.
The uncrewed capsule, which is designed to carry astronauts, is set to splash down in the Pacific Ocean near Guadalupe Island off the west coast of Mexico’s Baja California Peninsula tomorrow at 5.40pm GMT – the 50th anniversary of the last time man walked on the moon.
If successful, the craft will take humans around the moon for its next mission, slated for 2024. The splashdown is the final hurdle Orion faces in what has so far been a successful demonstration mission.
Alan Ball’s 1966 World Cup winner’s medal sells at auction for £200,000
A 1966 World Cup winner’s medal awarded to the late footballer Alan Ball has gone under the hammer for £200,000.
The medal was sold as part of an auction featuring multiple pieces of English football memorabilia, including items from the historic win.
Other items in the sale, organised by Tennants Auctioneers, included Ball’s match-worn No 7 shirt and cup cap, which sold for £164,320 and £145,360, respectively.
Ford unleashes full potential of GT with track-only Mk IV
Ford has created what it calls ‘the ultimate and most extreme’ Ford GT with a new track-only model.
The GT Mk IV supercar targets ‘more than 800 horsepower’ and each model will be priced at $1.7m (circa £1.3m).
Ownership will be granted via an application process on Ford’s website, with client selections confirmed in the first quarter of 2023 ahead of deliveries starting in the spring.
Friday’s headlines on Car Dealer you might have missed
- Exclusive: Automotive exec was airlifted to hospital after horror fall on top of Kilimanjaro
- Hedin Group withdraws offer to buy Pendragon
- Donalds Group expands dealer network after agreeing deal for Norwich Mazda showroom
- Mercedes-Benz Van Centre teams up with food charity to help deliver vital supplies
- New research finds one in 10 car buyers have been victims of fraud as scammers continue to target industry
Market movements
The FTSE 100 closed 4.46 points up yesterday to end the week on 7,476.63. The Cac 40 was up 30.33 points at 6,677.64, the Dax was up 106.16 points at 14,370.72 but the Dow Jones was down 305.02 points at 33,476.46.
Weather outlook
Today will be cold and sunny for many but showers – some wintry – will develop along coastlines, says BBC Weather. North Scotland will have snow showers. Tonight will be clear and cold for many in the north with widespread frost, with widespread freezing fog in the south.
Sunday will be another cold day with more wintry showers on coastlines and in northern England, with most inland areas staying dry. Freezing fog may be slow to lift in the south.
