Unemployment has unexpectedly risen to a near five-year high with the jobless rate among young people at its worst level for more than a decade, official figures show.
The Office for National Statistics (ONS) said the rate of unemployment lifted to 5.2% in the three months to December, up from 5.1% in the three months to November.
This was the highest since the three months to January 2021, and outside of the pandemic era, it marks the highest since the autumn of 2015.
The number of businesses collapsing into administration has surged by more than 40% in January as a raft of well-known names on the high street hit the wall.
Official figures from the Insolvency Service showed the number of company administrations jumped by 41% to 151 between December and January, and was also 14% higher than a year earlier.
It comes amid a swathe of recent retail and hospitality administrations since the start of the year, affecting thousands of jobs, including American-inspired restaurant chain TGI Fridays, accessories retailer Claire’s, The Original Factory Shop, Quiz, footwear brand Russell and Bromley and Revolution Bars owner The Revel Collective.
Volkswagen has introduced a new Multivan Camper designed to offer campervan converters a blank slate with which to start their projects.
Based on the current long-wheelbase Multivan, the Camper does come equipped with an opening roof and headlining fitted at the factory but aside from these, has been kept empty to allow converters maximum space and freedom.
The fully trimmed cabin is empty from the front seats back, with the shell lacking even floor coverings. However, the van still has two swivel seats for driver and passenger, as well as twin sliding doors and an opening tailgate.
Stock prices in London have closed mostly higher, as investors shored up bets on the Bank of England cutting interest rates in March after unemployment increased, while the pound fell.
The FTSE 100 index closed up 82.48 points, 0.8%, at 10,556.17, a new record high. The FTSE 250 ended up 180.35 points, 0.8%, at 23,555.82, and the AIM all-share closed down 4.73 points, 0.6%, at 806.61.
In European equities on Tuesday, the CAC 40 in Paris closed 0.5% higher, while the DAX 40 in Frankfurt ended up 0.8%.
Complaints about used car sales rose 14% to 18,570 in 2025, says The Motor Ombudsman. Most concerned poor customer service and undisclosed issues, with 35% linked to engine faults. Despite the increase, complaints represented just 0.2% of UK used car sales.
A Startline Motor Finance survey found 62% of used car buyers view poor online reviews as the biggest red flag. Slow communication and badly presented vehicles also deter shoppers, highlighting the importance of trust, professionalism and strong digital reputations.
