6:28 am, September 1, 2025
Large firms liable for fraud happening under their watch under new UK laws
Businesses could be prosecuted if they profit from fraud committed by one of their employees even if managers do not know about it, under new UK laws.
The new ‘failure to prevent fraud’ offence, which came into effect on Monday, holds large firms to account over their internal anti-fraud measures.
It says that businesses can be held criminally liable where an employee, agent, subsidiary or other associates commit fraud intending to benefit the company, and where reasonable fraud prevention procedures were not in place.
Controversial P&O Ferries chief executive steps down
The controversial boss of P&O Ferries, who led the firm’s move to sack almost 800 workers and replace them with cheaper agency staff, is quitting.
P&O said chief executive Peter Hebblethwaite had announced plans to resign to ‘dedicate more time to family matters’.
The firm and its management was widely condemned in March 2022 when it sacked nearly 800 workers without consultation and replaced them with agency staff on lower wages.
Tesla reveals updated Model Y Performance
Tesla has revealed the ‘hot’ version of one of the world’s best-selling EVs – the Model Y Performance.
The new and upgraded version adds an updated battery pack with dual electric motors with all-wheel drive that produces a total of 454bhp and can take the car from 0-60mph in just 3.3 seconds. It can go onto a top speed of 155mph and Tesla claims this new model can travel up to 360 miles between trips to the plug.
There are 21-inch alloys with red brake callipers, adaptive suspension, and a carbon fibre spoiler, while the interior gets carbon fibre dashboard and door trim inserts and Performance seats. Prices start at £61,990.
The markets
The FTSE 100 ended Friday on the back foot as banking stocks came under pressure amid reports that the UK government is considering a windfall tax on the sector.
The FTSE 100 index closed down 29.48 points, 0.3%, at 9,187.34. The FTSE 250 ended 138.68 points lower, 0.6%, at 21,605.72 but the AIM All-Share finished up 2.89 points, 0.4%, at 764.10.
The pound eased to 1.3510 US dollars late on Friday in London.
Starmer ‘rolling up sleeves to deliver change’ as MPs return to Westminster
Sir Keir Starmer promised his government would make people ‘feel better off and more secure’ as he sought to fight back after a summer which has seen asylum protests and tumbling Labour poll ratings.
As MPs return to Westminster, the prime minister said he was ‘rolling up my sleeves to deliver change’.
But he faces a series of looming challenges, with Rachel Reeves having to make tough choices in her budget this autumn, Nigel Farage’s Reform UK on the rise and a potentially difficult Labour conference in late September.
Tories to challenge Rachel Reeves to rule out ‘damaging property taxes’
Rachel Reeves will be challenged to rule out a series of tax hikes as the Tories force a Commons vote ahead of the budget.
The chancellor is likely to have to find ways of raising money in the budget to balance the books as she deals with sluggish growth, higher borrowing costs and U-turns over welfare savings.
Measures reportedly under consideration include scrapping the capital gains tax exemption for expensive private homes and changes to inheritance tax rules.
Latest on Car Dealer
GVE London sales director speaks out amid dealer’s move towards administration
GVE London sales director George Gehdu has spoken out after facing ‘threats’ following the troubled supercar dealer’s move towards administration.
Supercar dealer GVE London posts ‘Notice of Intention to Appoint Administrators’
Supercar dealer GVE London has applied to the High Court with a Notice of Intention to Appoint Administrators (NOI).
Citroen Berlingo is August’s fastest-selling used car as buyers race to snap up MPV
The Citroen Berlingo has been named as August’s fastest-selling used cars, with buyers snapping up the MPV at a rapid rate.
Independent car dealers welcome ‘watershed’ data sharing scheme after decade-long fight
The Independent Garage Association (IGA) is celebrating a ‘watershed moment’ for independent car dealers after winning a approval for its much-anticipated Security-related Repair and Maintenance Information (SERMI) scheme.
Scottish government sets up new EV grant to support households without off-street parking
The Scottish government is backing a new pilot scheme which aims to make electric vehicles more widely accessible north of the border.
Mercedes specialist Sandown Motors becomes latest car dealer to report falling profits in 2024
Bosses at Sandown Motors say the firm enjoyed a ‘satisfactory’ year in 2024, despite it becoming the latest dealer group to report a dip in profits.
Family-owned Brindley Group agrees deal to add Genesis to Cannock Hyundai site
Genesis has added a new car dealer to its list of retail partners after signing a franchise agreement with Brindley Group.
Lotus set to slash UK workforce as sports car maker puts 550 jobs at risk
Lotus is to slash the workforce at its Norfolk car building plant with as many as 550 jobs set to be axed.
Weather
Today brings windy conditions with variable cloud, sunny spells, and scattered showers, some heavy and thundery, though eastern England stays mostly dry and bright early on, reports BBC Weather.
Tonight, showers linger in the north, west, and southern coasts, with clear spells elsewhere before heavy rain reaches the south-west by dawn.
