6:50 am, January 29, 2025
Halfords raises profit outlook but warns of uncertainty after Budget
Retailer Halfords has said profits are set to be better than forecast thanks to a recent recovery in trading, but warned of an uncertain consumer outlook after the tax-raising Budget.
The car parts-to-bicycles company said retail trading rebounded over Christmas, with like-for-like bike sales jumping 13.1% in December.
The group added that motoring ranges also benefited from colder weather since the start of the year, with comparable sales up 5.5% so far in January.
‘We’re never going back,’ say companies that have switched to four-day week
Companies that have switched to a four-day working week have said they have ‘no regrets’, noting no change in performance while the policy has made it easier to hire people.
Kirsten Dean, head of finance at Scottish housing association Melville, told the PA news agency that staff were in ‘disbelief’ when the company trialled the policy in 2023.
‘They thought it was too good to be true that it had no strings attached’, she said, but added that after more than a year of the working pattern ‘I don’t ever see us going back’.
Porsche sets new world record with ice-drifting Taycan GTS
Porsche has set a new Guinness World Record with its latest Taycan GTS model.
Completed in Levi, Finland, the record saw the Taycan GTS complete a continuous drift of 17.503 kilometres or just over 10.8 miles.
With driver Jens Richter behind the wheel, that meant a total of 132 laps of continuous oversteer lasting a period of 46 minutes.
Tuesday on Car Dealer
‘This is all fake news’: Why used car dealers are yet to see impact of ongoing finance crisis
Malcolm Beattie of MB Motors Ballymena has dismissed fears of a car finance industry collapse as ‘fake news’, saying customers ‘don’t really care’ about dealer commissions. Beattie emphasised that finance demand remains strong, with transparency now normalised.
Carwow to launch subscription model following consultation with dealer partners
Carwow has introduced its first subscription model to provide dealers with cost-effective access to its platform. The monthly fee offers predictable pricing and connects dealers with highly motivated buyers. The move follows Carwow’s rapid growth and industry feedback.
Genesis to axe ICE models before the end of the year as brand unveils ambitious future plans
Genesis will phase out its petrol and diesel models in the UK by year-end, focusing on all-electric and hybrid vehicles. Refreshed SUVs, a new performance ‘Magma’ range, and a push towards carbon neutrality by 2035 highlight its future plans.
‘You could buy a whole car for that’: eBay reveals priciest vehicle parts of 2024
A V10 engine for an Audi R8 topped eBay’s most expensive car parts list in 2024, selling for £16,567. High-end powertrains, Porsche carbon fibre seats, and rare rally shells also fetched hefty prices, showcasing enthusiasts’ extravagant tastes.
Wessex Garages hands over 10 Nissan Townstars to construction company
Wessex Garages has delivered 10 Nissan Townstar vans to Certus Construction in Beachley, praised for their specifications, value, and five-year warranty. Certus will soon add three Nissan Primastar vans to its growing fleet.
London markets avoid tech sector turbulence to close higher
London’s top index moved closer to another record high on Tuesday as it benefitted from defensive traders buying into consumer and property stocks.
The FTSE 100 finished 30.16 points, or 0.35%, higher to end the day at 8,533.87.
In continental Europe, Germany’s Dax increased to a fresh record high as it benefitted from a rebound in Siemens Energy shares. The Cac 40 ended 0.12% lower for the day and the Dax index was up 0.74%.
Rachel Reeves to pledge to ‘fight’ for growth in economic speech
Rachel Reeves will pledge to ‘fight’ for ‘growth’ and say that Britain ‘can do so much better’ in a major speech, after Cabinet ministers were ordered to ditch policies that could stand in the way of growing the economy.
The Chancellor will say that Britain has “fundamental strengths” but has been ‘held back’ and accepted ‘stagnation’ in her address in Oxfordshire on Wednesday.
Ms Reeves will also use the speech to claim the so-called ‘Oxford-Cambridge growth corridor’ has ‘the potential to be Europe’s Silicon Valley’ and offers ‘huge economic potential for our nation’s growth prospects’.
Lord Mandelson expected to be approved as ambassador to US – reports
Labour grandee Lord Peter Mandelson is expected to be confirmed as the UK’s new ambassador to the US, reports have suggested.
Former MP and minister Lord Mandelson is thought to be set to become Sir Keir Starmer’s top diplomat in Washington DC, after earlier reports that concerns had been raised about his links to China.
Reports on Tuesday evening, including in The Times, suggested that the role must still be formally signed off by President Donald Trump, but agreement is expected.
Weather outlook…
The UK will today see strong winds from Storm Éowyn, with gusts up to 60-70 mph, especially in coastal and hilly areas.
A Yellow Wind Warning is in effect with rain expected in places, as temperatures range from 3°C to 12°C.
Travel disruptions and power outages are possible, so stay updated and take precautions.
