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Royal Mail takeover by Czech billionaire ‘approved’ – report
The sale of Royal Mail’s parent company to a Czech billionaire has been approved by the government, according to a report.
The takeover by Daniel Kretinsky’s EP Group from current owner International Distribution Services will be announced on Monday, the BBC reported.
Kretinsky is believed to have made several concessions to gain approval, including allowing workers to get a 10% share of any dividends paid out to him. He had already guaranteed not to raid the pensions surplus, to maintain the universal service and to keep the brand name and Royal Mail’s headquarters and tax residency in the UK for the next five years.
Hundreds protest against high rents in London
Demonstrators have gathered in London to protest against the capital’s ‘soaring’ rents.
Rising rents are destroying communities, said organisers the London Renters Union (LRU). LRU said up to 500 people marched through central London on Saturday, on one of the biggest shopping days of the year, to protest ‘against soaring rents’ and ‘exploitation’ of tenants.
London was the English region with the highest rent inflation in the 12 months to October 2024, at 10.4%, according to recent Office for National Statistics figures. This annual rise was higher than in the 12 months to September 2024, 9.8%, while there was a record-high annual rise of 11.2% in March 2024.
Boreham Motorworks reveals new MK1 Ford Escort RS
Boreham Motorworks has revealed the return of the first-generation Ford Escort RS, but with a twist.
Its latest creation marks the return of the first-generation Ford Escort RS. Limited to just 150 examples globally, this new generation of old model will be available with a choice of two different petrol engines.
The former is a 1.8-litre twin-cam that develops 182bhp and revs to 9,000rpm, and it will come mated to a four-speed manual gearbox. The latter has a 2.1-litre engine that boasts 296bhp, will rev up to 11,000rpm and is linked to a five-speed ‘dog-leg’ manual gearbox. There are subtle LED lights front and rear, and on the inside there’s an analogue instrument panel, sports bucket seats and a small infotainment screen that features Apple CarPlay in the centre of the dashboard. Prices start at £295,000.
The FTSE 100 was on the back foot on Friday after sentiment was knocked by figures revealing that the UK economy declined in October. London’s top flight finished 11.43 points, or 0.14%, lower to end the day at 8,300.33.
Elsewhere in Europe, French stocks were lower at the close after centrist leader Francois Bayrou was chosen as the country’s latest prime minister by Emmanuel Macron, amid efforts to halt recent political instability.
The Cac 40 ended 0.15% lower for the day and the Dax index was down 0.1%.
Starmer visits Norway as UK to launch green energy partnership
Sir Keir Starmer is visiting Norway to announce plans for a green energy deal with the country before attending a defence summit in Estonia on a two-day trip to Northern Europe.
The prime minister will travel to a cross-border carbon capture site and meet his Norwegian counterpart Jonas Gahr Store to discuss the agreement, which Number 10 said both leaders aim to sign in spring 2025.
Sir Keir said the energy partnership with Norway, which has a border with Russia, would help to boost growth and protect against spikes in international energy prices such as those which followed president Vladimir Putin’s invasion of Ukraine.
MPs raise concerns over Chinese interference in UK amid alleged spy row
MPs will seek to raise concerns this week over Chinese infiltration in Britain after it emerged an alleged spy formed links at the heart of the British establishment.
Former Tory leader Sir Iain Duncan Smith is applying for an urgent question in the Commons on the influence of Beijing’s shadowy United Front Work Department, the group said to be associated with the unnamed man.
Meanwhile, Nigel Farage has said his Reform UK party is prepared to use parliamentary privilege to name the alleged agent, known only as H6, in the chamber unless the courts lift an anonymity order which protects his identity.
Angry customer takes dispute with dealership into his own hands in Utah. Watch what happened.
Tesla has lobbied the UK Government to make ICE vehicles more expensive, aiming to boost EV demand and profits. Despite Elon Musk’s criticism of Labour, Tesla is engaging with Kier Starmer’s administration, advocating stricter ZEV mandates and neutral incentives.
GWM Ora UK will rebrand as GWM by February 2025, introducing the Haval Jolion Pro Hybrid SUV. This marks Haval’s UK debut, expanding GWM’s portfolio. The competitively priced hybrid targets rivals like the Nissan Qashqai and Kia Sportage.
H.R. Owen’s pre-tax profits fell 70% to £2.29m amid supply chain issues and inflation. Revenue declined 2% to £556.55m, driven by a 4% drop in vehicle sales. Despite setbacks, net assets rose, and new ventures, including Lotus franchises, launched.
Auto Trader’s shares have risen over 50% in two years, with Zeus Capital forecasting further growth to 905p. Analysts highlight strong demand in the used car market and opportunities to boost revenue through innovations like Deal Builder and AI-driven Co-Driver tools.
A breezy but dry day for most of the country, reports BBC Weather, with a mixture of sunshine and variable cloud. Northern Scotland will have heavy showers – up to 150mm is expected. Temperatures around 12 degrees.
Tonight will be a repeat of today with heavy rain in northern Scotland and clear and cloudy elsewhere.
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