6:24 am, September 3, 2026
Poundland could be sold within weeks after owner launches auction
The owner of Poundland has launched a sale process for the discount chain, with hopes to sell the business within weeks.
The proposed sale comes after private equity firm Gordon Brothers only bought the business last June for £1.
Gordon Brothers, which has overseen a major restructuring of the business, has hired corporate advisory firm Alvarez & Marsal (A&M) to sound out potential buyers.
Uber to cut 10% of global workforce in major overhaul
Uber has unveiled plans to cut its global workforce by about 10% as part of a major restructuring, which is set to result in around 3,300 corporate job losses.
The boss of the US-based ride-hailing app told staff that the changes would create a ‘simpler and faster’ business by cutting layers of management and merging teams.
Uber, which has its global head office in San Francisco, did not specify how many roles would be impacted in each location that it has offices, including its UK office in London.
Range Rover Electric arrives with 372-mile range and off-road capability
The new Range Rover Electric has arrived, bringing with it a 372-mile range and a promise of the same off-road capability as the combustion-engined version.
Priced from £154,070, the new Range Rover Electric uses a large 118.5kWh battery linked to twin electric motors for a combined output of 542bhp and 850Nm of torque. JLR says that the battery can go from 10 to 80 per cent in 22 minutes when connected to a 350kW rapid charger, too.
While the underpinnings might be cutting-edge, the Range Rover Electric has been designed to offer the same high level of off-road capability as the regular petrol and diesel models. As such, it’s claimed to be able to climb a 45-degree incline with single-pedal driving activated, and can handle wading through 900mm of water.
The markets
Stocks in London fell on Wednesday as elevated oil prices and bond yields pushed investors to the sidelines, with looming US jobs data adding to the cautious mood.
The FTSE 100 index closed down 32.83 points, 0.3%, at 10,756.45. The FTSE 250 ended down 197.23 points, 0.8%, at 24,324.06, and the AIM all-share closed down 6.05 points, 0.8%, at 790.01.
The pound was quoted at 1.3505 dollars on Wednesday, down from 1.3527 on Tuesday. Against the euro, sterling fell to 1.1648 euro from 1.1669.
Andy Burnham blames rising debt costs on Tory record at first PMQs
Andy Burnham has blamed the rising cost of borrowing and market turbulence on the Tory record on ballooning debt and declared ‘we are turning that corner’.
He took his first Prime Minister’s Questions after government long-term borrowing costs were sent soaring to their highest levels for 28 years, amid a global bond sell-off over inflation concerns.
Kemi Badenoch pointed to a warning from Lord Jim O’Neill that the prime minister’s tone during his Tuesday Commons debut would have unsettled investors.
French police deployed to disrupt mega dinghies as Burnham and Macron meet
The UK and France are boosting police officer numbers on the French coast to stop ‘mega dinghies’ from launching across the English Channel, Downing Street said as Andy Burnham prepared to host Emmanuel Macron.
The prime minister will welcome the French president to No 10 on Thursday for their first bilateral meeting.
Ahead of the talks, Burnham said the two countries must ‘stay one step ahead’ of the criminals’ evolving tactics as he vowed not to be ‘complacent’ after a fall in the number of small boat arrivals.
Wednesday on Car Dealer
‘The shape of the day has changed’: Why new plate day still matters despite shifting landscape
New plate day remains an important date for car dealers and manufacturers, despite the days of frantic midnight handovers being consigned to the past.
XPeng to take control of UK operations from International Motors
XPeng is to take control of its UK operations as the Chinese carmaker moves away from the distributor-led model which launched the brand in Britain.
Warranty First overhauls repair plans for petrol, diesel, hybrid and EV stock
Warranty First has launched a redesigned repair plan portfolio as it looks to offer dealers a more tailored approach.
FCA accused of putting lenders before drivers with £9.1bn motor finance compensation scheme
The Financial Conduct Authority (FCA) has been accused of putting lenders ahead of drivers with its proposed £9.1bn motor finance compensation scheme.
Drive Motor Retail set to reopen state-of-the-art car showroom following £3m redevelopment
Drive Motor Retail will is set to officially open its redeveloped Darlington Motor Village site, following a £3m refurbishment.
Mazda targets 60% accessory sales boost with new dealer incentive scheme
Mazda has introduced a new incentive programme for showroom staff as it targets a major boom in accessory sales.
Motorpoint raises profit forecast as stronger sales and AI investment boost performance
Motorpoint has upgraded its profit expectations after stronger-than-anticipated trading and improved margins boosted the used car supermarket group.
Car dealer warns soaring costs are squeezing profits as vehicle margins fail to keep pace
A family-run car dealer has warned that soaring employment and supplier costs are putting increasing pressure on dealers because vehicle margins are failing to rise at the same pace.
Weather
A mostly dry start to the day with variable cloud, reports BBC Weather. Occasional showers in the west and south-west at times. A breezy day.
Tonight, outbreaks of rain will push across central England and Wales. Drier further south.