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July saw only modest 0.1% month-on-month growth in UK house prices, with annual growth slowing to 1.8%. Affordability remains a challenge as mortgage rates rise amid geopolitical tensions. Northern Ireland leads price gains while the south and London lag. The Bank of England cautions inflation pressures could rise if the Iran conflict persists.
Octopus Energy has urged customers to avoid running dishwashers, washing machines and similar plug‑in appliances between 6pm and 8pm on Wednesday as a solar eclipse blocks up to 95% of sunlight. The move aims to reduce peak demand and solar shortfall, with customers offered two hours of free electricity next weekend for taking part in the demand‑shifting. Regulators warn of potential grid stress and highlight flexible demand as a national resource.
Oil prices rise as talks over reopening the Strait of Hormuz remain unsettled. Brent nears $90, and U.S. inventories stay tight amid ongoing tensions and political maneuvering.
The FDA has approved daraxonrasib, sold as Rasonque by Revolution Medicines, for adults with previously treated or ineligible metastatic pancreatic cancer. Clinical trials have shown median survival extended to about 13.2 months versus roughly 6.7 months with chemotherapy. The drug will be available in the US with a roughly $39,800 monthly list price and expanded-access programmes have already treated thousands.
Tesla has launched its two-seat, steering‑wheel‑free Cybercab robotaxi in Austin and begun limited service in other Texas and Florida cities. Federal safety regulators have opened an audit of Tesla's self‑certification, investors have punished the stock after an underwhelming launch, and rivals Waymo and Amazon’s Zoox are intensifying the robotaxi race.
Lloyds Bank has reported that UK house prices have fallen 0.4% year on year in August, marking the first annual decline since November 2023. The typical UK price is 298,468 pounds, with monthly changes showing a 0.2% decrease in August after July. Experts say prices remain higher than pre-pandemic levels, but affordability pressures persist across regions. Analysts forecast ongoing subdued activity in the coming months as borrowing costs and geopolitical tensions weigh on sentiment.
UK housebuilders have surged as ministers reveal a new equity-loan plan to aid first-time buyers, with income and price caps shaping investor enthusiasm. Analysts say the scheme could re-rate the sector, though practical uptake remains uncertain.
SpaceX has posted a strong third quarter, reporting revenue and earnings above expectations and marking a rare profit. Wall Street is weighing aggressive capex and a potential SpaceX–Tesla merger as the company expands Starlink, AI, and data-center initiatives amid a global push into artificial intelligence.