6:38 am, July 21, 2023
Thumping defeats for Sunak’s Tories but he is spared by-election whitewash
Rishi Sunak has suffered a double by-election defeat in safe Tory seats, with Labour and the Liberal Democrats both overturning majorities of about 20,000.
Labour won Selby and Ainsty and the Lib Dems took Somerton and Frome on sizeable swings but Sunak was spared the prospect of being the first PM since 1968 to lose three by-elections on the same day as Labour failed to secure victory in Boris Johnson’s former seat of Uxbridge and South Ruislip.
Tory Steve Tuckwell clung on there with a majority of just 495, down from the 7,210 Johnson secured in 2019. In Selby and Ainsty, 25-year-old Keir Mather overturned a 20,137 majority with a 4,161 win. Meanwhile, in Somerton and Frome, Sarah Dyke turned a 19,213 Tory majority into an 11,008-vote cushion for the Lib Dems.
Virgin Money to shut 39 bank branches with 255 jobs facing axe
Virgin Money is to shut almost a third of its bank branches, with 255 workers facing potential redundancy.
The high street banking business said it will shut 39 banks because of changing customer demand, which has seen fewer people go into banks in favour of online services.
The sites affected have seen the number of customer transactions fall by an average of 43 per cent since the pandemic hit in March 2020.
Consumer confidence drops in July
Consumer confidence has suffered a sudden collapse amid relentless inflation and rising interest rates, according to a long-running survey.
GfK’s Consumer Confidence Index plunged six points from minus 24 last month to minus 30, with concerns for personal finances and the wider UK economy over the coming year down six and eight points respectively.
However, it is still 19 points higher than this time last year, when it was minus 41.
MPs to look at challenges faced by British film industry
MPs will be looking at ‘financial problems’ in British cinema chains following the restructure of Cineworld Group and some Empire Cinemas closing down.
The culture, media and sport committee has announced a new inquiry that will scrutinise challenges faced by the British film and high-end television industry.
The review will include a look at how the sector can adapt to the rise of artificial intelligence, while issues around skills and retention in the industry will also be examined.
Industrial action on railways ‘cost sector £620m in past year’
Industrial action on the railways has cost the industry around £620m over the past year, new figures from the Rail Delivery Group suggest, as passengers suffered fresh travel misery because of a strike.
Members of the Rail, Maritime and Transport union staged a walkout yesterday in their long-running dispute over pay, jobs and conditions.
Further strikes will be held tomorrow and on July 29, while services are also being disrupted because of a ban on overtime by train drivers in the Aslef union.
Odeon expects one million filmgoers as ‘Barbenheimer’ released
Odeon has said one million customers are expected at its cinemas in the week following the release of Barbie and Oppenheimer.
Both films are released today, which has given rise to cinemagoers buying back-to-back tickets for what has been dubbed ‘Barbenheimer’.
Odeon said thousands will see director Greta Gerwig’s comedy about the famous doll Barbie and Christopher Nolan’s biographical thriller on physicist J Robert Oppenheimer and his role in developing the first atomic bomb on the same day.
Google developing AI tools to help journalists create stories
Google says it is in the early stages of developing artificial intelligence tools to help journalists write stories and headlines, and has discussed its ideas with leaders in the news industry.
The rapidly evolving technology is raising concerns about whether it can be trusted to provide accurate reports, and whether it would eventually lead to human journalists losing their jobs in an industry that is already suffering financially.
Leaders at The New York Times, The Washington Post and News Corp, owner of The Wall Street Journal, have been briefed on what Google is working on, The Times reported yesterday.
Staff shortages and work pressure blocking mental health improvements – report
Pressure on staff and a shortage of workers are holding back improvements in NHS mental health services, MPs have warned.
There is also growing concern that the government hasn’t made clear how mental health will be treated with equal priority as physical health – an ambition that was outlined 12 years ago.
A report by the public accounts committee claims 17,000 staff left the NHS mental health workforce in 2021/22, with 14 per cent of them citing work-life balance reasons.
Mini reveals interior of new Cooper
Mini has given the first official preview of its new hatchback’s interior, which is decluttered and features a thin new touchscreen.
Revealed in a video that shows how the cabin has adapted from the classic Mini to the present day, the highlight is the new round touchscreen.
Rather than being integrated into the dashboard like the current car, it sits independently. Below it is a new panel that harks back to the classic Mini and will be used for the gear selector, drive modes and volume. The new Cooper is expected to be revealed at the IAA Mobility show in Munich in early September.
Yesterday’s headlines on Car Dealer you might have missed
- Lookers: Could an incoming bid from Lithia Motors be why used car dealer Cinch pulled its backing?
- Lookers acquisition could be in doubt
- Lotus to axe up to 200 jobs in wake of deepening losses
- Pendragon reaps rewards of strong new car supply and used car prices, but warns of tougher months ahead
- Revealed: The top 10 used SUVs that were most in demand on Motorway in June
- Used car market has been resilient during first half of 2023 – report
- Used car supermarket HPL Motors sees profit slide on revenue upturn
- Jobs created as Snows’ ninth Toyota dealership opens for business
Market movements
The FTSE 100 closed 57.85 points up yesterday to end the day on 7,646.05. The Cac 40, meanwhile, was up 57.97 points at 7,384.91, the Dax was up 95.29 points at 16,204.22 and the Dow Jones was up 163.97 points at 35,225.18.
Weather outlook
Today is expected to start rather cloudy for most, says BBC Weather, with a few showers in the far north and north-west England. More widespread showers will develop in the afternoon across northern areas.
Saturday will see spells of heavy and persistent rain spread eastward, while in the afternoon, showers will develop in the west and south. The north will be cloudier but largely dry, and winds will strengthen.
