News Round-Up

Mar 9: 11-year-old tows caravan on M1; Rivian reveals R2 and R3; BP paid boss £8m

  • Here are the headlines for Saturday, March 9

Time 6:09 am, March 9, 2024

Boy, 11, found towing caravan on M1

An 11-year-old boy was arrested after being stopped by police at the wheel of a BMW X5 towing a suspected stolen caravan on the M1.

The caravan was reported stolen from a caravan site near Thirsk at 3.30pm on Thursday, the caller saying it was being towed away by a black BMW.

A North Yorkshire Police spokesman said: ‘We were able to track the BMW, that was also using cloned registration plates, travelling south on the A1.’

The boy was arrested on suspicion of theft, burglary, going equipped for theft, and motoring offences including dangerous driving.

Rivian R2 and R3

Rivian reveals new baby R2 and R3

Rivian has revealed the new R2 and R3 simultaneously to go alongside their bigger brothers, the R1T electric pickup and R1S electric SUV.

The new R2 and R3 will both be available with two battery sizes. The larger pack will achieve over 300 miles on a single charge while Rivian says that both will manage 0-60 mph in under three seconds.

Both R2 and R3 are built on a new midsize platform, with fewer design parts and the structural battery unit are there to help make the new R2 and R3 cost a lot less to manufacture and develop.

BP paid its boss £8m last year

BP’s new boss was paid more than £8 million last year, before he took over the top job full time from his ousted predecessor.

Murray Auchincloss’s pay package consisted of more than £1.5 million in salary, benefits and cash in lieu of pension.

He was also handed a £1.8 million bonus, and a little under £4.7 million in shares that were linked to performance.

Investors look to housebuilders for signs of recovery

UK housebuilders are set to shed light on the state of the fragile property market amid a number of key updates from firms next week.

Shareholders are braced to see accounts for Persimmon, Berkeley and Vistry all show a fall in sales numbers after higher interest rates weighed heavily on activity last year.

Interest rates rose to a 15-year high of 5.25% last year and millions of homeowners have been faced with higher mortgage rates as a result.

Yesterday’s headlines on Car Dealer you might have missed

OpenAI reinstates Sam Altman to board

OpenAI is reinstating chief executive Sam Altman to its board of directors and has ‘full confidence’ in his leadership after the conclusion of an outside investigation into the company’s turmoil.

OpenAI said on Friday that after an investigation into why the company abruptly fired Mr Altman in November, only to rehire him days later.

It found the cause to be a ‘consequence of a breakdown in the relationship and loss of trust’ between him and the prior board.

FTSE 100 slips as pound climbs

London stocks drifted lower on Friday as the resurgent pound lifted to its highest against the dollar since August.

The FTSE 100 received a boost from DS Smith’s rise after it agreed a takeover by rival Mondi but it was not enough to drive the index into positive territory.

London’s top flight closed 32.72 points, or 0.43%, lower to end the day at 7,659.74.

Weather outlook

The weather will continue to be unsettled on Saturday, according to the Met Office, and showers will spread northeast throughout the day.

It will be cloudy for most throughout the day and a brisk easterly wind will make it feel cold.

There will be some sunny spells but rain tonight will become heavier in the south and east, pushing north.


Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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