6:45 am, February 4, 2023
Ford returns to F1
Red Bull has announced an engine partnership with Ford which sees the American giant return to Formula One after two decades away.
The new deal, which comes into force with the sport’s 2026 change in engine regulations, was confirmed at Red Bull’s season launch in New York on Friday.
Ford terminated its involvement in F1 when it sold Jaguar to Red Bull 19 years ago, but the American car maker has been keen to jump on the surge in popularity in the sport in the United States following the success of Netflix’s ‘Drive to Survive’ series.
FTSE 100 closes at record high
The FTSE 100 has closed at a record high as stocks soared amid signs that interest rate hikes were finally slowing around the world.
The index ended the day at 7,901.8 points, a rise of 1% or 81.64 points.
It finally met the promise of mid-January when the index looked like it might reach an all-time high, but failed to quite reach that point.
A little under an hour before markets were set to close in London, it finally breached the all-time intraday high of 7,903.5 – which it set on May 22, 2018.
BP bumper profits to be revealed
The size of the pile of cash that BP made last year will be made bare on Tuesday, opening the company up to the same criticism that hit its rival Shell this week.
Boss Bernard Looney is expected to reveal what could be the highest profit in BP’s history, after the company benefited from the fossil fuel crisis that has characterised so much of the past year.
Analysts currently expect that BP made $5.04bn (£4.2bn) in underlying replacement cost profit, the company’s preferred measure, in the last three months of 2022.
It would mean the annual result nearly doubling to $27.8bn (£22.9bn).
Beckham’s Ferrari goes on sale
A Ferrari 360 Spider once owned by former professional footballer David Beckham has gone on sale online.
The Spider was owned by Beckham in the early 2000s, around the same time that the footballer’s then-club Manchester United won the 2002-03 Premier League title.
Current prices for 360 Spiders stand at around £60,000, however, this particular example – which is currently on sale via automotive marketplace PistonHeads – is listed at £110,000 courtesy of its excellent condition and famous previous owner.
Friday’s Car Dealer headlines you might have missed
- How much of the car buying process do consumers want to do online and in showrooms?
- Peugeot 208 was Europe’s best-seller in 2022, while market slumped for third year in a row
- Vertu Motors extends sponsorship deal of high-flying Middlesbrough FC
- LSH Auto to hold Mercedes-Benz apprenticeship evenings at showrooms
- Mechanics are warned not to take risks while repairing vehicles as tragic toll is revealed
- Used car prices rose AGAIN in January – here’s the top 10 biggest climbing models
- Ferrari posts record-breaking results for ‘remarkable’ 2022 as bosses plot out electric future
Energy complaints topped 100,000 last year
Complaints from customers to the Energy Ombudsman reportedly numbered more than 100,000 last year.
Incorrect billing, poor customer service and problems switching suppliers were the main issues prompting complaints, the BBC said.
Three quarters of the cases heard were concluded in the customer’s favour, the broadcaster said.
BBC Radio 4’s Money Box programme reported that a total of 105,340 complaints were received by the ombudsman in 2022, which it said was a rise of more than 50% compared to two years previously.
EU prepares more Russia sanctions
The European Union will unveil its 10th package of sanctions against Russia on February 24 to mark the anniversary of Moscow’s full-scale invasion of Ukraine, a senior official from the bloc said in Kyiv on Friday.
The sanctions will target technology used by Russia’s war machine, among other things, European Commission president Ursula von der Leyen told a news conference.
The sanctions will take aim in particular at components used in the manufacturing of drones, she said, naming Iran as a key supplier of Russia.
Ambulance strikes in Wales called off
Planned strikes next week by nurses, ambulance workers and other health staff in Wales have been called off after a new pay offer from the Welsh government.
The GMB was due to hold a strike on Monday, while members of the Royal College of Nursing (RCN) were set to walk out on Monday and Tuesday.
The two unions announced that action will be suspended, although their members in England will go ahead with strikes on the same days.
Cold weather warning
A cold weather warning has been issued for Sunday evening and early next week by the UK Health Security Agency.
The Met Office and the agency say a cold snap will hit England between 6pm on Sunday and 6pm on Tuesday.
Today, southern parts of England will be rather cloudy with drizzly outbreaks mainly the west while northern UK will see heavier rain and strong winds spreading southeastwards.
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