6:54 am, September 7, 2022
Liz Truss rewards allies Coffey and Kwarteng after sacking Sunak supporters
Liz Truss rewarded close allies Kwasi Kwarteng and Therese Coffey with top Cabinet jobs as she culled a number of prominent Rishi Sunak supporters during a major government reshuffle.
The new prime minister appointed Kwarteng as chancellor and Coffey as deputy prime minister and health secretary, as she made James Cleverly her successor as foreign secretary on Tuesday.
Former attorney general Suella Braverman was appointed home secretary, meaning that for the first time in history none of the great offices of state are held by white men.
Jacob Rees-Mogg: Brexiteer investment firm boss becomes business secretary
Jacob Rees-Mogg has been appointed business secretary in the government of new prime minister Liz Truss, as the country heads towards a lengthy period of recession, presenting potential turmoil for firms and consumers.
The often-controversial figure will take the helm and work closely alongside new chancellor Kwasi Kwarteng.
Business leaders considered Kwarteng to be a capable pair of hands as he tackled a raft of hefty challenges, ranging from supply disruption to rampant energy price inflation during his tenure as business secretary.
‘Households will get poorer’ even if energy bills frozen, economists warn MPs
Households ‘will be getting poorer’ over the coming months even with further financial support to freeze Britons’ energy bills, economists have warned.
Economists and experts told ministers at the business, energy and industrial strategy select committee that sharp energy price rises mean the UK will struggle to avoid a recession, irrespective of action from a new government.
Mother of Olivia Pratt-Korbel urges killer to ‘own up’
The mother of Olivia Pratt-Korbel has told those responsible for her death ‘you know you’ve done wrong, so you need to own up’, in an emotional video appeal.
Cheryl Korbel, whose nine-year-old daughter was shot in their home in Dovecot, Liverpool, paid tribute to her ‘little shadow’ in the video, which was filmed and released by Merseyside Police.
Ms Korbel, 46, said she hoped whoever was responsible for the killing would come forward.
Johnson pledges loyalty to Truss as he hints at taking back seat – for now
Boris Johnson has pledged loyalty to his successor Liz Truss in a valedictory speech tinged with a lingering bitterness over his downfall.
The outgoing prime minister hinted that he intends to fade quietly into the background for now, comparing himself to Cincinnatus, a Roman statesman who – according to legend – returned to his farm after triumphing in battle.
He said he is like ‘one of those booster rockets that has fulfilled its function’, and will now be ‘gently re-entering the atmosphere and splashing down invisibly in some remote and obscure corner of the Pacific’.
FTSE ends day in the green on good day for European markets
The FTSE 100 ended Liz Truss’s first day as PM in the green in what was a good day for markets on the continent.
The British stock index closed up 13.01 points, or 0.18 per cent, on 7,300.44.
Meanwhile, the German Dax closed up 0.87 per cent and the French Cac rose by 0.19 per cent
Tuesday’s Car Dealer headlines you might have missed
- Vertu warns over vehicle supply and energy costs as it tells of strong performance during first half of year
- Wholesale used car market ‘is being starved of repossessions’
- Marketing agency 67 Degrees partners with Octane Finance to produce ‘class-leading’ new website
- Donnelly Group appoints Stephen Hughes as business manager of JLR showroom in Dungannon
- Dealer group Jemca Cars announces record profits in latest set of annual accounts
- Aston Martin shares fall by more than 15 per cent in wake of rights issue
- New car showroom proposal in Wolverhampton facing uphill battle after objections from residents and councillors
Sir Elton John’s 1992 Bentley Continental R heads to auction
A Bentley Continental R formerly owned by singer Sir Elton John is heading under the hammer at auction.
The 1992 Bentley uses a 6.75-litre V8 engine and has ‘unblemished looks’ according to Car and Classic, which is auctioning off the luxury model. The auction started yesterday (Sep 6) and will run until Tuesday, September 13.
Sir Elton bought the Bentley in August 1992 via his management company William A Bong Limited. After keeping it for four years, it was sold to its current owner, who has held on to it until now.
Halfords hit with fine for sending 500,000 unwanted marketing emails
Halfords has been fined £30,000 after an investigation found it had sent nearly 500,000 unwanted marketing emails.
The bike retailer had received complaints over emails about a government voucher scheme that gave people £50 off the cost of repairing a bike at any participating store or mechanic in England.
Halfords jumped on the scheme to promote free bike assessments in its stores, therefore clearly advertising its own services, the Information Commissioner’s Office found in its investigation.
Takeovers and mergers slowed in June as UK firms fielded economic turmoil
The total number of takeovers and mergers involving UK companies dropped significantly in June as firms fielded high inflation, supply chain disruption and geopolitical tensions.
There were 333 completed mergers and acquisitions between April and June, according to figures from the Office for National Statistics.
This means there were 116 fewer deals than the previous three months and a decrease of 167 compared with the same period in 2021.
Apple set to unveil latest iPhone
Apple is expected to unveil the next generation of iPhone today, with an ‘always on’ display widely tipped as a major upgrade.
The announcement is expected to feature an iPhone 14 Pro and a cheaper iPhone 14, each available in normal and large sizes.
However, reports suggest that the cheaper model might contain the same series of processors – Apple’s A15 Bionic chips – that are already used in the iPhone 13, meaning there is unlikely to be a noticeable performance difference.
Weather outlook
Today, a band of rain will clear out from Scotland during the morning. The rest of the UK will have a mixture of sunny spells and further showers, some heavy and thundery, the BBC reports.
Tonight will turn drier for most with clear spells developing. However, showers are still likely across southern and eastern England and eastern Scotland.
Tomorrow will become cloudy in the north-east, with showers or spells of heavy rain for most. The rest of the UK will see a mix of sunny spells and showers. The showers may be heavy in the south-west.
