6:27 am, September 1, 2026
UK shop prices rise at fastest rate for two years
UK shop price inflation swung to its highest level for two years last month, as accelerating food costs pressed on consumer budgets, according to new figures.
Prices for tech products also increased over the month as chip and memory shortages linked to the AI boom impacted the supply and cost of electricals.
British Retail Consortium (BRC)-NIQ figures showed that shop prices are now 1.5% higher than a year ago, lifting from a rise of 0.9% in July. It represents the sharpest rise since February 2024, when it was reported at 2.5% for the month.
AI could cause global economic downturn, Bank of England governor warns
Artificial intelligence could unleash a global economic downturn, the governor of the Bank of England has warned in a letter to governments from around the world.
Andrew Bailey said that a ‘future market correction’ could spread across the world if the AI bubble bursts, in a letter to G20 finance ministers who are currently meeting in North Carolina, USA.
Bailey warned in his letter of the ‘volatility’ caused by the impact of energy shocks from the US-Iran war.
BMW hits two million EV sales
BMW has reached a new milestone, passing two million sales of its EVs.
Since the first i3 launched in 2013, two million BEVs have been handed to customers worldwide; if plug-in hybrids are added, the figure reaches 3.5 million.
The German carmaker said that in the first half of 2026, more than one in every four vehicles it sold was electrified.
Burnham to argue for more public control of services in first Commons test as PM
Andy Burnham will call for more public control over water, energy and transport in his first appearance in the House of Commons since becoming prime minister.
Burnham will use his Commons debut as prime minister on Tuesday, his first appearance at the despatch box in 16 years, to argue that stronger public control over many of the country’s services can be an engine for economic growth.
The prime minister is expected to set out his belief that essential services have not been run in the public interest, and that they have become neither reliable nor affordable, holding back households and the wider economy.
Kemi Badenoch sacks senior Tories in major shake-up of her front bench team
Kemi Badenoch has completed a reshuffle of her senior Tory team, sacking Sir Mel Stride as shadow chancellor and bringing a new generation of Conservative MPs into the shadow cabinet.
The Conservative leader carried out the reshuffle of her inner circle before Parliament’s return on Tuesday, and ahead of the party’s conference in October.
Sir Mel was the first big beast to be ousted, with Badenoch appointing Andrew Griffith in his place as shadow chancellor. Dame Priti Pater also left her role as shadow foreign secretary on Sunday, to be replaced by Conservative former minister Tom Tugendhat.
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Chinese brand Lepas plots rapid UK growth with 2% market share target within 12 months
Lepas is already targeting a market share of 2% within 12 months, putting it in line with established brands such as Cupra and BYD.
Subaru dealers to offer free prostate cancer PSA tests to men aged over 50
Subaru dealers across the UK are to begin handing out free prostate cancer PSA testing kits as part of a new initiative aimed at encouraging more men to take an active interest in their health.
Marshall shuts Hyundai Hereford dealership and pulls Mercedes-Benz sales from Blackburn
Marshall Motor Group is closing its Hyundai dealership in Hereford today and will end new and used Mercedes-Benz sales from its Blackburn site later this year as it continues to reshape its dealer network.
Family-run Lloyd Motor Group tops £1bn in turnover but profits fall after expansion
Bosses at the family-run Lloyd Motor Group say they are ‘satisfied’ with the group’s performance after turnover topped £1bn for the first time.
Volkswagen unions plot rival turnaround plan as trust in bosses is ‘damaged’
Labour unions at Volkswagen are drawing up their own plans to turn around the struggling German carmaker amid growing anger over the prospect of tens of thousands of job cuts.
Classic car owners handed greater freedom under latest DVLA registration rule changes
Classic car owners have been handed greater freedom to repair and rebuild historic vehicles under the latest changes to DVLA registration rules.
Lepas unveils L6 electric SUV as Chinese brand ramps up UK launch
Chinese manufacturer Lepas is wasting no time in building its UK product line-up as it prepares to launch its new electric SUV, the L6.
Weather
Variable cloud and sunny spells in the south with a few showers, reports BBC Weather. Breezier in the north.
Cloud will build tonight, with showers developing in the north and west.