Jul 13: Negative UK economy predictions; Starmer’s final week as PM; Dolphin G from £24k

UK economy set to have stayed in slow lane after Iran war held back growth The UK’s economy is expected to have been stagnant for another month as some industries come under pressure and the Iran war continues to hold back growth. The Office for National Statistics (ONS) will publish May’s gross domestic product (GDP) figures on Thursday following a period of global turbulence during the US-Israel’s war with Iran. Some economists are expecting GDP to have flatlined or declined in May, after slipping by 0.1% in April. Ocado investors hoping for positive signs amid reported leadership clash Ocado investors will be hoping the retail technology giant can point towards a positive outlook for the coming years amid reported unrest amongst its leadership. The company has seen its share value drop by around a quarter over the past year amid pressure from the closure of some of its robotic warehouses and testing consumer conditions. On Thursday, the group will unveil its latest half-year results as it seeks to maintain recent growth. However, the update comes against the backdrop of reported boardroom unrest between its two most senior executives. BYD’s Dolphin G hits the road in the UK priced from £23,990 BYD has confirmed that its new Dolphin G will start from £23,990. Arriving as one of the Chinese brand’s most compact models, the Dolphin G gets a hybrid powertrain which uses a 1.5-litre petrol engine to effectively act as a generator for the electric motors. Entry-level Active-grade cars – priced from £23,990 – have a 7.4kWh battery for an electric-only range of up to 25 miles, while Boost and Comfort cars – priced from £26,990 and £28,490 respectively – have a larger 18.3kWh battery for a claimed electric-only range of up to 65. BYD says that on big-battery cars, the combination of petrol and electric will bring a range of up to 646 miles. The markets The FTSE 100 closed higher on Friday in calmer trading, boosted by double-digit gains from telecommunications firm Vodafone. The FTSE 100 closed up 24.84 points, 0.2%, at 10,497.29. The FTSE 250 ended up 130.85 points, 0.6%, at 23,371.41, and the AIM All-Share rose 1.57 points, 0.2%, to 763.82. The pound traded at 1.3419 dollars on Friday afternoon, up from 1.3397 dollars on Thursday. Against the euro, sterling firmed to 1.1737 euro from 1.1717 euro on Thursday. Keir Starmer enters final week as PM with diplomatic blitz in Paris Sir Keir Starmer will begin what is expected to be his final week as prime minister with a diplomatic blitz as his expected successor Andy Burnham waits to take over. Burnham, the only candidate in Labour’s leadership process, is expected to officially succeed Sir Keir on Monday July 20. Sir Keir will travel to Paris on Monday where he will join allies of Ukraine for a meeting of the ‘coalition of the willing’. He is also expected to join Bastille Day events on Tuesday.