6:30 am, December 3, 2024
Christmas ‘unlikely to be bumper one for all’ as consumers focus on budgeting
Spending on cough and cold remedies was a bright spot in November as weak consumer confidence and rising energy bills caused anxiety for retailers in the all-important run-up to Christmas.
A later Black Friday this year, resulting in artificially weaker November figures, still could not disguise figures suggesting it is ‘unlikely to be a bumper Christmas for all’ as many consumers remain focused on budgeting, analysts suggest.
The British Retail Consortium (BRC)-KPMG Retail Sales Monitor covering the four weeks to November 23 – therefore not including Black Friday, unlike last year’s figures for the same period – show total UK sales fell by 3.3% year on year, against growth of 2.6% last November. Food sales over the three months to November were up 2.4% year on year, although this too was down on last year’s growth of 7.6%.
UK manufacturing downturn worsens as economic concerns grow, survey suggests
The UK’s manufacturing downturn worsened last month with activity falling to a nine-month low, as firms faced less demand and cutbacks as concerns grow over the economic outlook, according to new data.
The S&P Global UK manufacturing PMI survey, watched closely by economists, recorded a reading of 48.0 in November, down from 49.9 in October. It marks a lower score than previous estimates, and the second consecutive month of contraction.
The survey showed production declined in November due to weaker demand from clients at home and overseas. Manufacturers also reported getting fewer orders from customers who were delaying investment decisions, or making cutbacks to new projects due to uncertainty in the UK market and rising geopolitical tensions.
DS gives forthcoming couple SUV No. 8 name
DS Automobiles has revealed that its forthcoming electric coupe SUV will be the first model to wear a new naming structure.
‘No 8’ will be the first to adopt the new badging system, and will feature its name across the boot lid.
The brand has also shown off the interior, which has a wraparound appearance and a bold, four-spoke steering wheel. The car, which is expected to have a 466-mile electric range, will be revealed in full next year.
The markets
The FTSE 100 finished slightly up on Monday after hitting a one-month high earlier in the day, but reversing most of its gains later. London’s blue-chip index rose 25.59 points, or 0.31%, to end the day at 8,312.89.
Frankfurt’s Dax index rose 1.44%, while the Cac 40 in Paris rose 0.025%. In New York a little while after markets had closed in Europe, the S&P 500 had risen 0.26%, while the Dow Jones was 0.25% lower.
On currency markets, the pound was trading 0.49% down against the dollar at 1.2639 and was 0.06% up against the euro at 1.2052.
Starmer rejects choice between EU and US allies in major speech
The United Kingdom does not need to choose between its allies in America and Europe, Sir Keir Starmer has said in a major speech.
The prime minister said it was ‘plain wrong’ to suggest he needed to steer his government away from either of the UK’s most prominent allies.
With the advent of Donald Trump’s return to the White House, European leaders fear a divide over the future of support for Ukraine, as the incoming president has expressed a desire to end the conflict on ‘day one’ of his time in office. But Sir Keir said the UK would ‘never turn away’ from its partnership with the US, and also promised to build stronger bonds with Europe.
More protection for victims as government vows crackdown on stalking
Victims of the ‘horrendous’ crime of stalking are to be given better protection including the right to know the identity of their online stalkers, the government has said.
Home secretary Yvette Cooper has committed to using ‘every tool available’ to take power from abusers and hand it to victims.
The changes come following a warning earlier this year from a group of watchdogs who said police are failing to protect stalking victims in too many cases.
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Ingots, prisms and a pink panther: Behind the scenes of Jaguar’s new car launch
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Bernie Ecclestone chooses Tom Hartley Jnr to sell ‘most important race car collection in the world’
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Carlos Tavares quits Stellantis with immediate effect after fall out with the board
Carlos Tavares has resigned as Stellantis CEO following board disagreements, despite plans to retire in 2026. Interim leadership will be chaired by John Elkann. Stellantis faces challenges, including share price drops, UK plant closures, and ZEV mandate disputes.
FCA boss defends ‘incompetent’ and ‘dishonest’ watchdog as car finance investigation continues
FCA chief Nikhil Rathi defended the regulator against a parliamentary report labelling it ‘incompetent’ and ‘dishonest’. He highlighted progress in tackling financial crime and consumer protection while acknowledging operational improvements are ongoing. The report followed criticism over its motor finance scandal response.
Passenger suffers ‘life-threatening’ injuries after Audi ploughs into car dealership
A 19-year-old driver was arrested after a grey Audi crashed into a Scunthorpe dealership, leaving a passenger with life-threatening injuries. Two others sustained minor injuries. The driver faces multiple charges, including dangerous driving and driving under the influence.
Weather
A day of bright spells and variable cloud for most, reports BBC Weather. The cloud will get thicker in the north and west during the day; light rain in Scotland and Northern Ireland and turning wintry. A chilly day.
Rain and snow will move southwards tonight, becoming confined to the south-east by dawn. A milder night.
