The Bank of England has signalled that interest rates will remain at 3.75% through the summer, as Governor Andrew Bailey cited uncertainty over the Iran war and weak UK growth. Bailey stated that temporarily above-target inflation is acceptable to support the economy, but warned that tolerance would weaken if second-round effects emerge.
Oil prices fell on Friday amid hopes of a US-Iran peace deal, with Brent crude dropping 1.3% to $91.54 per barrel, heading for one of the biggest monthly declines. The decline followed reports that Donald Trump circulated a draft peace agreement among allies.
Asda has agreed a deal to use Ocado's technology for its online grocery platform and home deliveries from early 2027. The partnership will also support deliveries via Uber Eats, Deliveroo, and Just Eat, as well as click-and-collect services.
South East Water has been urged to reduce debt after losing an investment-grade rating from Moody's, breaching its licence terms. The downgrade came amid water outages affecting 22,000 people in Kent. Liberal Democrat MP Mike Martin called for reform, while campaign group We Own It urged the government to nationalise the company.
