6:50 am, September 26, 2024
Petrol prices drop to three-year low
Petrol prices have reached a three-year low due to a fall in oil prices and the strength of the pound.
The average price of a litre of the fuel at UK forecourts on Tuesday was 135.7p, the RAC said.
Petrol prices reached a record high of 191.5p per litre in the summer of 2022 following Russia’s invasion of Ukraine the previous February.
£10bn data centre investment shows UK ‘open for business’, says Starmer
A £10bn US investment in a new artificial intelligence data centre will create 4,000 jobs in the UK, the Government has announced.
The deal with private equity giant Blackstone will create Europe’s biggest AI data centre in Blyth, Northumberland, at the site formerly earmarked for the Britishvolt gigafactory.
Sir Keir Starmer, who is in New York attempting to woo US bosses, said the investment showed the UK is ‘open for business’.
UK leapfrogs Japan, Italy and Germany in OECD growth forecast for 2024
The UK economy has overtaken several G7 countries on economic growth forecasts in recent months, but is still set to have the highest inflation of the bloc, according to economists.
The Organisation for Economic Co-operation and Development (OECD) has placed the UK joint second in its economic growth forecasts for the rest of 2024.
The prediction of 1.1% growth for the whole of this year puts the UK alongside Canada and France but behind the US.
Maximum reimbursement limit for bank transfer scam victims slashed to £85,000
The maximum reimbursement limit for victims of bank transfer scams has been slashed ahead of new rules coming into force next month, in a move that consumer campaigners have branded as ‘disastrous’.
The previous maximum reimbursement value had been put at £415,000 under the plans to force banks to compensate people who have been tricked into transferring money to a fraudster.
But on Wednesday, the Payment Systems Regulator (PSR) confirmed the limit will now be set at £85,000.
Bank of England policymaker urges ‘steady-as-she-goes’ approach to rate cuts
A Bank of England policymaker has called for a gradual approach to future interest rate cuts because of the potential for persistently high inflation across the economy.
Megan Greene, an external member of the Bank’s monetary policy committee, said: “I believe a cautious, steady-as-she-goes approach to monetary policy easing is appropriate.”
Ms Greene was one of the eight policymakers who voted to hold the base interest rate at 5% at the Bank’s September meeting, after it was cut by a quarter point in August.
Rightmove rejects £6.1bn takeover move by Rupert Murdoch’s REA
Rightmove has rejected a £6.1bn takeover deal from Rupert Murdoch’s REA Group.
The Australian suitor, which is majority-owned by the tycoon’s News Corp group, tabled its third approach for the London-listed online property platform business on Monday.
The deal saw it put forward a 770p-a-share proposal, having seen its initial move, valuing the company at about £5.6bn, rejected earlier in the month.
Wednesday on Car Dealer
Tributes flood in for BCA’s Guy Thomas as firm confirms tragic death of ‘true gent’
Heartfelt tributes have been pouring in for Guy Thomas, the head of product development at BCA, who tragically passed away at the age of 54. Known and respected across the automotive industry, Thomas had been with BCA since 2009, having previously worked at Manheim, Evans Halshaw, and Woods Car Rental. His colleagues and industry peers praised his professionalism, kindness, and positivity. Guy’s twin sister, Susannah, expressed gratitude for the outpouring of condolences, which have provided comfort to the family during this difficult time.
Disgraced car dealer ordered to repay £82,500 after storing 4kg of cocaine in a lock-up
John Kear, a car dealer and valeter, has been ordered to pay back £82,500 following his conviction for involvement in the supply of class A drugs. Kear was caught storing over 4kg of cocaine and sentenced to seven years in prison earlier this year. Swansea Crown Court determined that Kear profited £621,566 from his criminal activities but only had £82,528 in available assets, which must now be repaid under the Proceeds of Crime Act.
Keyloop reshuffles top team as Tim Smith is appointed chief strategy officer
Keyloop has announced leadership changes following its acquisition of Automotive Transformation Group (ATG) earlier this year. Tim Smith, ATG’s former CEO, has been appointed as Keyloop’s chief strategy officer. He will lead the development of Keyloop’s “Fusion” platform, the industry’s first Automotive Retail Platform (ARP), which aims to simplify vehicle sales and ownership processes while delivering value to retailers, OEMs, financiers, and fleet suppliers. CEO Tom Kilroy praised Smith for his innovative influence and industry reputation.
Antony Diggins celebrates incredible rise through the ranks as he is named Warrantywise MD
Warrantywise has promoted Antony Diggins to managing director, marking a significant rise from his start as a web developer in 2013. Previously the chief operating officer, Diggins is recognized for his leadership and data-driven approach, which has enhanced customer experiences and product development. In his new role, Diggins will focus on market expansion and customer-focused innovation. CEO Lawrence Whittaker praised Diggins for blending technological innovation with operational insight, contributing to the company’s strategic growth and product excellence.
Skoda’s new Kodiaq Armoured is a maximum-protection SUV
Skoda has given its Kodiaq SUV a security upgrade in a new armoured variant.
Following on from the Superb Armoured – of which around 500 have been sold worldwide since 2018 – the new Kodiaq Armoured has been created in collaboration with British-based security experts UTAC Special Vehicles to enable it to cope in the very worst situations.
The Kodiaq is certified to both PAS 300 and PAS 301 Civilian Armoured Vehicle standards, with the latter certification only given to vehicles that can pass a series of challenging requirements taking into account factors such as payload, acceleration and braking.
Man who shared Facebook post encouraging damage to Ulez cameras avoids jail
A man who shared a message on Facebook encouraging people to damage Ulez cameras has been spared jail.
Joseph Nicholls, 43, was separately handed a suspended sentence for sending a threatening email to a company which provides cameras for the scheme.
Father-of-three Nicholls, of Foots Cray High Street, Sidcup, shared a post in a closed anti-Ulez Facebook group in April 2023 which encouraged members to damage and dismantle the cameras, Woolwich Crown Court heard.
Bid to scrap 20mph rules in Wales rejected in Senedd
A bid to return the default speed limit in built-up areas in Wales to 30mph has been defeated in the Welsh Parliament.
The Welsh Conservatives put forward a motion to the Senedd on Wednesday to overturn a law which set the default speed limit at 20mph in built-up areas.
But Plaid Cymru and Labour members overwhelmingly voted to reject the proposal, arguing the policy was helping improve road safety across the country.
Rail workers vote to accept pay offers
Workers have voted overwhelmingly to accept pay offers from train companies and Network Rail.
Members of the Rail, Maritime and Transport union (RMT) backed a one-year rise of 4.5% at Network Rail (NR) and increases at train operators of 4.75% for the last year and 4.5% for 2024/25.
Almost 99% of train company members voted in favour while NR workers backed their pay rise by 88%.
The markets
London’s top stock indices faltered on Wednesday with financial firms dragging on the FTSE 100, despite the OECD upgrading its economic growth forecast for the UK.
The FTSE 100 dipped 14.06 points, or 0.17%, to close at 8,268.7.
It was an equally downbeat session for other top stock market indices in Europe. In Paris the Cac 40 was down 0.5%, and in Frankfurt the Dax declined 0.39%.
Weather outlook…
Today’s weather is expected to be mild, with temperatures ranging from 11°C to 18°C, depending on the region.
Some areas, particularly in the northwest, could experience occasional rain, while southern regions may enjoy drier and brighter spells.
Overall, expect a mix of sunshine and showers, with autumnal conditions gradually settling in.
