6:37 am, September 6, 2024
Competition watchdog launches probe into Oasis tickets sale
The competition watchdog has launched an investigation into Ticketmaster over the Oasis concerts tickets sale.
The Competition and Markets Authority said its investigation will include how so-called ‘dynamic pricing’ may have been used and will scrutinise whether the sale of Oasis tickets by Ticketmaster may have breached consumer protection law.
Ticketmaster has said it doesn’t set concert prices and its website states this is down to the ‘event organiser’ who ‘has priced these tickets according to their market value’.
UK to send package of 650 missiles to Ukraine in latest defence aid
The UK will send 650 missiles to Ukraine in a £162m commitment to the country’s defence against Russia, John Healey is expected to say during a visit to Germany today.
The defence secretary will announce Britain’s latest commitment to Kyiv’s war effort when he meets fellow ministers from across Europe at a defence summit.
The meeting of the Ukraine Defence Contact Group will take place at the US Air Force base in Ramstein.
Second union ‘overwhelmingly’ backs latest pay offer from council body
A second union has voted in favour of a revised pay offer from the body that represents all Scottish councils.
Workers represented by Unite, spanning all 32 local authorities, accepted the new offer of a rise of 67p an hour or 3.6%, whichever is better.
This means a minimum increase of £1,292 for the lowest-paid council workers and comes after GMB union members accepted the offer last week. However, council workers represented by Unison announced on Tuesday that they had rejected the offer.
Trump wants to create government efficiency commission led by Elon Musk
Former president Donald Trump said he would create a government efficiency commission to audit the entire federal government, an idea suggested by billionaire Elon Musk – who would lead it.
The commission is the latest attention-grabbing alliance between Trump and Musk, who has become an increasingly vocal supporter of Trump’s bid to return to the White House.
The Republican presidential nominee claimed that in 2022 ‘fraud and improper payments alone cost taxpayers an estimated hundreds of billions of dollars’.
BMW and Toyota bring partnership closer as German brand looks to release first production hydrogen car in 2028
BMW and Toyota have furthered their collaboration with the German manufacturer announcing plans to introduce its first series-production hydrogen vehicle in 2028.
The pair – which signed an agreement in 2011 to establish a mid-to-long-term co-operative relationship in environmental technology – aim to bring a ‘new generation’ of hydrogen fuel cells to the road.
BMW and Toyota will jointly develop the hydrogen powertrain, meaning cars from both brands will be able to use the new fuel cell setup. Pictured at top are Toyota president Koji Sato and BMW chairman Oliver Zipse
Investigation into fatal Royal Navy helicopter crash in Channel continues
An investigation will continue today into what caused a Royal Navy helicopter to ditch in the Channel during a night-flying exercise, resulting in the death of a member of navy personnel.
There were three crew members on board at the time of the incident and two of them were rescued and taken to hospital, the Ministry of Defence said.
The Merlin helicopter crashed off the coast of Dorset on Wednesday night during the training exercise with the HMS Queen Elizabeth aircraft carrier. The family of the deceased, who has not been named, have been informed.
Gemma Collins stars in parody beauty ad to raise pension awareness
Reality TV star Gemma Collins has featured in a parody face cream advert about tackling the effects of ageing as part of a campaign encouraging people to pay some attention to their pension.
The Only Way Is Essex star urges people to cast aside their worries about wrinkles and instead prioritise their retirement savings when thinking about later life.
Pension Attention is an industry-led engagement campaign co-ordinated by the Association of British Insurers and the Pensions and Lifetime Savings Association, and funded by members of the pensions industry.
Yesterday on Car Dealer
Podcast Live: Estelle Miller explains why used car dealers need a shift in mindset in order to sell EVs
Selling used EVs requires a more consultative approach than traditional vehicles, says Estelle Miller of EV Experts. Price parity between used EVs and petrol cars is driving interest, especially for premium models. EVs hold value well, but sales take longer, necessitating careful pricing strategies for dealerships.
August new car market dips by 1.3% ahead of critical plate-change month
The UK new car market fell by 1.3% in August, with 84,575 units registered. Fleet purchases dominated, while private sales were flat. Petrol and diesel registrations declined, but battery-electric vehicle (BEV) sales rose 10.8%, reaching a 22.6% market share. BEV uptake is expected to grow throughout 2024.
Marsh Wall directors hail ‘another successful year of trading’ despite profit slump
Franchised car dealership Marsh Wall saw a 43% drop in pre-tax profit in 2023 despite an 8% revenue increase. Revenue rose to £413m, but profit before tax fell to £6.88m. Ebitda decreased by 23.8%, while directors’ remuneration increased. The firm highlighted challenges to economic conditions and rising costs.
Van market reverses sales decline to end summer with return to growth
The UK’s LCV market grew by 1.7% in August, with 16,575 units registered, marking its best performance since 2021. However, battery-electric van registrations fell 30.3% year on year with 908 sales, representing only 5.5% of the total. Year to date, the van market is up 2.7% to 218,884 units.
Corsa retains crown as top-selling used car on Motors as overall demand surges in August
Used car demand remained strong in August, with dealers selling cars in an average of 28 days – four days faster than in July. Prices held steady at £17,362. Franchised dealers performed best with an average of 18 days. The Vauxhall Corsa was the top-selling car for the fourth consecutive month.
Stocks and currency movements
Global markets faced a late-afternoon dip yesterday as investor sentiment took a turn for the worse, despite good news on the UK’s housebuilding sector helping lift top developer stocks.
The FTSE 100 finished 27.89 points down to end the day at 8,241.71. The Cac 40 closed 69.01 points down at 18,576.50, the Dax was down 15.35 points at 18,576.50, and the Dow Jones was down 219.22 points at 40,755.75.
Meanwhile, the pound was up 0.18% at $1.318 and finished at €1.185, which was the same as Wednesday’s figure.
Weather outlook
Much of the UK will be dry with periods of sunshine today, says BBC Weather. Spells of rain, heavy and thundery in the south-west, will move slowly north into southern Wales and parts of central England.
Tomorrow, south-western areas will continue wet with showery spells of rain, heavy and thundery in places. The rest of the UK should be mainly dry with a mix of sun and cloud.
On Sunday, England and Wales will continue to see showery spells of rain, heavy and thundery in places, while Monday will be cloudy with spells of rain in the morning, but it’ll turn drier and brighter from the west in the afternoon.
