6:40 am, September 10, 2022
King makes historic televised address to mark Queen’s death
The King paid a poignant and moving tribute to his ‘darling Mama’ the Queen yesterday evening during a televised address in his first public broadcast as monarch.
Charles said of his ‘beloved mother’ the late Elizabeth II: ‘We owe her the most heartfelt debt any family can owe to their mother; for her love, affection, guidance, understanding and example.’
Pledging his whole life as service as the new sovereign just as the Queen did, he also announced that he had created his son William the Prince of Wales, with Kate the Princess of Wales, and expressed his ‘love for Harry and Meghan as they continue to build their lives overseas’.
Charles to be formally proclaimed monarch
King Charles III will be formally proclaimed monarch today during an Accession Council ceremony televised for the first time.
Charles automatically became King on the death of his mother on Thursday, but the Accession Council, attended by privy counsellors, will confirm his role at 10am.
The new monarch won’t attend the ceremony at St James’s Palace, only joining afterwards to hold his first Privy Council meeting.
Tributes planned at sporting events as football halts to remember Queen
Tributes will be paid to the Queen at the sporting events going ahead today after football fixtures were postponed as a mark of respect.
Players and coaches will wear black armbands during the deciding Test between England and South Africa at the Kia Oval, where there will be a minute’s silence followed by the national anthem ahead of the match.
Similar scenes are expected at Premiership Rugby fixtures, Super League games and the BMW PGA Championship golf tournament at Wentworth. The official mourning guidance, published yesterday, said there was no obligation for sports organisations to cancel or reschedule events.
No 10 says energy bills freeze will go ahead despite mourning period
Downing Street says it doesn’t believe the mourning period for the Queen’s death will have any impact on Liz Truss’s new policy to prevent average energy bills soaring past £2,500.
The prime minister’s official spokesman said yesterday that the two-year energy price guarantee for Britain will be ready for households from October 1, as scheduled.
Officials are working in the background to draw up a strategy to support businesses through the gas crisis for six months and come up with a plan for Northern Ireland. Truss announced the strategy on Thursday in the hours before the Queen’s death.
Bank of England postpones interest rate decision
A widely expected rise in interest rates has been put on hold following the death of the Queen.
The Bank of England said decision-makers on its monetary policy committee wouldn’t meet as scheduled next week.
Instead, the meeting, at which committee members are expected to hike rates again, will take place on September 22.
UK sees one of the biggest drops in OECD real wages, report finds
The UK saw one of the biggest falls in real wages among OECD countries, a new report from the organisation shows.
Real wages dropped by 2.9 per cent between 2021 and 2022, according to the data, compared with a 2.3 per cent drop across the bloc.
The new data from the Organisation for Economic Co-operation and Development (OECD) also showed that the UK had one of the largest falls in employment among the least well-educated because of the pandemic.
John Lewis Partnership to reveal latest progress in revival plan
The John Lewis Partnership (JLP) will reveal the firm’s latest progress next week as the retail giant seeks to broaden and modernise its appeal.
JLP, which runs the John Lewis department store business and Waitrose grocery chain, is due to unveil its financial results for the half-year to July in an update on Thursday, September 15.
The department store business cut thousands of jobs and axed stores in 2020 as the pandemic exacerbated pressure already felt by the group. But the company sprang back into the black last year, posting a £181m pre-tax profit in the year to January 2022, thanks to record sales from its department stores.
Three dead and 11 injured after trains collide in Croatia
At least three people have been killed and 11 more injured including foreign citizens after a passenger train and freight train collided in Croatia.
The accident happened about 9.30pm (8.30pm BST) yesterday near the town of Novska, close to the border with Bosnia and Herzegovina, said police.
Prime minister Andrej Plenkovic said the bodies of three people were found at the site of the accident but more victims could still be found this morning.
Mercedes and Rivian to collaborate on electric van production
Mercedes and Rivian have entered into a strategic partnership to create large electric vans.
The pair intend to invest in and operate a European factory that would start production in a few years. The goal is to create a new electric-only production facility that would use an existing Mercedes site in central or eastern Europe.
Two electric vans will be created. The first will be based on the Mercedes-Bens Vans Electric Architecture, while the second will sit upon the Rivian Light Van platform.
Friday’s stories on Car Dealer
- Motor trade pays tribute to ‘lifelong supporter of the UK automotive industry’ the Queen
- In pictures: Car Dealer looks back at some of the Queen’s automotive visits from the past 70 years
- Dealers could face stall in EV demand as drivers ‘risk being priced out of the electric revolution’
- Automotive industry ‘at risk’ says Ben as charity supports World Suicide Prevention Day
Market movements
The FTSE ended the week 89.01 points up to finish on 7,351.07. Meanwhile, the Cac 40 rose 86.43 points to 6,212.33, the Dax was up by 183.89 points to 13,088.21, and the Dow Jones gained 377.19 points, finishing on 32,151.71.
Weather outlook
Today will be drier for a lot of the UK with a mixture of sunshine and patchy cloud, says BBC Weather. Some showers will develop in England and Wales, with the north and west having the best of the sunshine.
Sunday will again see spells of sunshine plus patchy cloud. It will be a dry day to begin with, but rain will move into the far north and west during the afternoon.
