Car manufacturers appear split on the decision by the government to delay the ban on new petrol and diesel car sales. Prime Minister Rishi Sunak confirmed the planned ban was being pushed back five years from 2030 to 2035. He said it was “not right to impose more costs on working people”, adding “sensible green...
Category: Business
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UK inflation in surprise fall to 6.7% despite rise in fuel prices | Inflation
The UK’s annual inflation rate fell unexpectedly in August to 6.7% despite a sharp rise in average fuel prices for motorists, easing some of the pressure on the Bank of England to raise interest rates. In a crunch week for the economy, the Office for National Statistics said slower increases in the cost of food...
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Ocado wins back middle classes after price cuts
Thanks for joining us. Bosses are facing a downturn in demand equivalent to levels experienced during the pandemic and in the wake of the global financial crisis, a survey from Lloyds has shown. The slump comes as businesses prepare for the Bank of England to potentially announce a 15th consecutive increase in interest rates on...
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US futures and European stocks rise ahead of central bank decisions
European stocks and US futures made small gains, while crude oil rose, as traders prepared for a rush of monetary policy announcements from central banks around the world. The region-wide Stoxx Europe 600 index was up 0.1 per cent in early afternoon trade, with positive moves for real estate, financials and energy stocks balanced out...
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Two pubs a day disappearing in England and Wales
The destruction of the Crooked House pub in the West Midlands provoked outrage Two pubs a day have disappeared in England and Wales in the first half of the year, according to government statistics. Figures showed that 230 pubs vanished in the three months to 30 June – an increase over the previous quarter when...
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Major UK methane greenhouse gas leak spotted from space
The main sources of methane are oil and gas production, farming and waste For the first time ever, a major leak in the UK of the extremely potent greenhouse gas methane has been spotted from space. Its detection by satellite raises hopes that future leaks can be stopped more quickly. Methane has 28 times the...
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One of Cornwall’s oldest pubs shuts as landlord bids farewell
One of Cornwall’s oldest pubs has announced it is closing two years after being taken over by the current landlord. The Wheel Inn in Tresillian outside Truro, remained empty for nearly two years after its former tenants Simon and Alison Bellamy announced they would not reopen when the Covid lockdown was lifted on July 4,...
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Spotify denies 30-second trick could make you rich
The head of Spotify has denied claims that users can repeatedly listen to their own uploaded 30-second track to rake in monthly royalties. Finance analysts at JP Morgan had said that Spotify subscribers could make $1,200 (£960) a month by listening to their song on repeat, 24 hours a day. The claim suggested Spotify’s royalty...
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Record wage growth ups chance of interest rate rise next week – latest updates
Thanks for joining me. The triple lock is in focus this morning after the latest employment figures from the Office for National Statistics. The state pension is expected to rise by 8.5pc in April next year in line with the figure for average earnings growth in the three months to July. 5 things to start...
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UK set for crucial economic data releases
So far 2023 has seen some false dawns for the UK economy. The next few weeks’ data are critical. Recession has been avoided but growth has bumped along the bottom. And even as inflation falls from the double-digit levels of a year ago, it has proven more stubborn and sticky, and spread to the service...