6:34 am, May 7, 2025
UK and India agree trade deal, slashing tariffs on car and whisky exports
The UK and India have sealed a free trade agreement, in a deal which is hoped will boost sectors hardest hit by Donald Trump’s tariffs.
The deal, announced on Tuesday afternoon, will mean dramatic tariff reductions on scotch whisky and car exports to India, while levies on aerospace, electricals and other food products will also fall.
UK consumers are also expected to benefit from tariffs being reduced on some Indian goods such as clothing imported to the country.
Government to unveil new cybersecurity measures after wave of attacks
Cyber attacks on major UK retailers in recent weeks should be a ‘wake-up call’ for firms across the country, a Cabinet minister will warn, as the Government unveils measures aimed at ramping up protections for British organisations.
Chancellor of the Duchy of Lancaster Pat McFadden will tell tech experts and business chiefs that cybersecurity is ‘not a luxury but an absolute necessity’ as he announces a £16m package to boost defence at home and abroad.
Harrods became the latest high-profile UK retailer to fall victim to hacking last week, after a serious ransomware attack on Marks & Spencer forced the company to suspend online orders and halt recruitment.
Audi’s new A6 gains plug-in hybrid version
Audi has introduced a new plug-in hybrid powertrain to its latest A6.
Available on both saloon and Avant – or estate – layouts, the A6 plug-in hybrid models use a 2.0-litre turbocharged petrol engine which is then linked to an electric motor and battery. In total, the system develops 295bhp and sends that power to all four wheels via Audi’s quattro system.
Thanks to a 25.9kWh battery, the A6 plug-in hybrid should be able to return up to 66 miles of electric-only running in the estate or 69 miles in the more aerodynamically efficient saloon.
The markets
London’s top financial index inched higher to continue its recent winning streak despite wavering during the trading session amid further concerns over US tariffs.
The FTSE 100 finished up by 0.01%, or 1.07 points, to close at 8,597.42, after it was particularly buoyed by reports that oil giant BP could be a takeover target. The Cac 40 ended 0.4% lower for the day and the Dax index was down 0.46%.
In currency, the pound was 0.54% higher at 1.336 US dollars and was up 0.34% at 1.178 euro when London’s markets closed.
Louise Haigh says Labour’s ‘unpopular decisions overshadowing the good ones’
Louise Haigh said Labour’s ‘unpopular decisions are overshadowing the good ones’ as the former transport secretary called for the party to explore a wealth tax to woo back voters following Reform UK’s success in the local elections.
On Sunday, she wrote in The Times that welfare reforms and the loss of winter fuel payments were ‘totemic’ for many voters, and called on Sir Keir to rip up tax rules to get voters onside.
Haigh echoed those comments on Tuesday, telling BBC Newsnight: ‘I don’t think we can underestimate how catastrophic those results were last week for the Labour Party… people don’t really feel that we’re taking the action to address the issues that matter, whether that be on the cost of living, the public services or on the economy more widely, and that’s very frustrating.’
UK warns against travel to parts of India and Pakistan amid deadly conflict
Britons have been advised not to travel to parts of India and Pakistan following a deadly escalation in conflict between the two nations.
Officials said at least 19 people have been killed and 38 wounded after India fired missiles across the border into Pakistani-controlled territory in at least six locations.
The Foreign, Commonwealth and Development Office updated its travel advice for the region, warning against all travel within 10 kilometres of the India-Pakistan border, 10 miles of the Line of Control (the de facto border that divides disputed Kashmir between the two countries) and the Balochistan province of Pakistan.
Tuesday on Car Dealer
Swansway bosses ‘more than satisfied’ despite profits falling in first ‘normal’ year since Covid
Swansway Motor Group reported a 2024 pre-tax profit of £7.7m, down from £13.4m, but remains optimistic due to strong used car sales, network growth, and efficient stock turnover, despite rising costs, market challenges, and ongoing motor finance uncertainty.
New car registrations fell by over 10% in April as tax changes took effect
New car registrations fell 10.4% in April 2025, impacted by tax hikes, fewer working days, and EVs losing VED exemptions. EV market share rose to 20.4%, but lags targets. The SMMT urges government action to boost EV affordability.
‘They’re coming and they’re serious’: Why automotive industry needs to ’embrace’ China
Automotive expert Claire Miller joins us on the Car Dealer Podcast. You can listen by clicking the link above.
Weather
Today will bring sunny intervals and variable cloud across England, Wales, and east Scotland, with a chance of showers in eastern England, reports BBC Weather. Western Scotland and Northern Ireland will be sunnier.
Tonight, cloud will spread across much of the UK, with clearer skies in the west and light southern breezes.
