Updated at\u00a004.13 EDT<\/p>\n
Key events<\/p>\n
Boeing 737 Max operators told to check fuselages for cracks![\"Gwyn](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/08\/Gwyn_Topham,_L.png\")
Gwyn Topham<\/p>\n
Elsewhere in the transport world, the US aviation regulator has ordered inspections of the fuselages of Boeing 737 Max planes for possible cracks in a component.<\/p>\n
The Federal Aviation Administration airworthiness directive will affect an estimated 471 aircraft and follows reports of cracks in earlier Boeing models.<\/p>\n
The inspections, which will start from September, follow a similar FAA regime for previous Boeing 737 Next Generation models dating back to 2021.<\/p>\n
Cracks were found in a component called the bear strap \u2013 sheets supporting the fuselage around the exit doors \u2013 on the older planes. The FAA said on Thursday that no such cracks have yet been found in 737 Max craft but that the similar design and build process makes the model susceptible to developing them.<\/p>\n
More here:<\/p>\n
Share<\/a><\/p>\n Volkswagen\u2019s board chairman Hans Dieter P\u00f6tsch has declared the struggling carmaker \u201cis at a historic crossroads\u201d.<\/p>\n P\u00f6tsch said.<\/p>\n double quotation mark\u201cFor the sake of the company and its sustainable competitiveness, everyone must now step up and take responsibility,\u201d<\/p>\n \u201cThe longer decisions are delayed, the bigger the problems will become,\u201d he added.<\/p>\n P\u00f6tsch, who is also the chair of Porsche \u2013 VW\u2019s largest shareholder \u2013 was speaking after Porsche reported a 14.5% drop in earnings in the first half of the year.<\/p>\n VW is looking to cut up to 100,000 jobs, as it tries to fend off rising competition from China.<\/p>\n Share<\/a><\/p>\n Another threat to food production this year is that grass growth is unusually weak.<\/p>\n Grass growth in the UK is almost half its average level for 2019-24, new data from the the Energy and Climate Intelligence Unit (ECIU) today shows, following very weak rainfall this summer.<\/p>\n That risks leaving farmers with a shortage of feed, which could force them to spend more on imported feed.<\/p>\n Tom Cantillon, senior analyst for carbon and land at the ECIU, explains:<\/p>\n double quotation mark\u201cGrass is the cheapest feed British livestock farmers have, and this summer it has fallen to half its normal rate. Two short forage years back-to-back is a different proposition to one. Farmers went into this summer carrying the costs of last year\u2019s drought, and this will exacerbate the pressures they face.<\/p>\n \u201cWhat we are looking at is not a bad week or a difficult month, but a structural squeeze on the foundation of grass-fed farming in this country.\u201d<\/p>\n Share<\/a>European heatwaves and El Ni\u00f1o fears push up sugar prices<\/p>\n Sugar prices were also driven up by the summer heatwaves in July, and fears of El Ni\u00f1o disruption.<\/p>\n The UN FAO reports that its sugar price index rose by 5.6% last month.<\/p>\n It says:<\/p>\n double quotation markThe increase was mainly driven by concerns about the potential impacts of persistent hot and dry weather on crop yields in the European Union and of El Ni\u00f1o-related weather conditions on production prospects in key producing countries in Asia.<\/p>\n Sugar prices were also pushed up by expectations of stronger demand for ethanol in Brazil, due to a temporary change to add more ethanol to gasoline.<\/p>\n Share<\/a><\/p>\n Vegetable oil prices rose by 2% in July, to their highest level since June 2022.<\/p>\n This was driven by higher palm and soy oil prices, the UN\u2019s FAO reports, saying:<\/p>\n double quotation markInternational palm oil prices rose for the second consecutive month, following a brief decline in May, largely underpinned by firm demand from Indonesia\u2019s biodiesel sector and higher crude oil prices, which outweighed downward pressure from seasonally higher production in Southeast Asia.<\/p>\n Similarly, world soy oil prices increased, underpinned by persistently robust feedstock demand in the United States of America and stronger global import demand amid greater price competitiveness.<\/p>\n S unflower and rapeseed oil prices dropped, but the FAO adds that renewed tensions in the Black Sea region prevented them falling further.<\/p>\n Share<\/a>Global food prices hit three-year high as conflict and heatwaves push up cereal costs<\/p>\n Newsflash: Global food commodity prics have hit a three-year high, as the Ukraine war, conflict in the Middle East and extremely hot weather push up crop prices.<\/p>\n The United Nations\u2019 Food and Agriculture Organization\u2019s Food Price Index, which tracks key food prices, has just risen to its highest since January 2023.<\/p>\n The FAO reports that prices for cereals, sugar and vegetable oils all rose in July, while meat and dairy product prices fell.<\/p>\n The report shows that global wheat prices surged by 5.8% in July, and were almost 10% higher than a year ago.<\/p>\n The FAO says this was due to \u201ccontinued disruptions to Black Sea export flows and damage to export infrastructure, further compounded by the impact of recent heatwaves on crop yields in several key producing countries.\u201d<\/p>\n There was a surge in attacks in the Black Sea last month, amid the renewed military escalation between Russia and Ukraine.<\/p>\n World maize prices rose by 3.6%, \u201csupported by concerns over hot and dry weather in parts of the Corn Belt in the United States of America and spillover effects from firmer energy markets amid heightened geopolitical tensions.\u201d<\/p>\n The FAO adds:<\/p>\n double quotation markInternational sorghum prices edged higher in line with the increases in maize prices in the United States of America. By contrast, barley prices fell by 1.9 percent, as favourable crop prospects in Australia and the Black Sea region more than offset heat-related yield losses in the European Union.<\/p>\n On the other hand, the FAO All Rice Price Index held broadly steady in July 2026, as a mild increase in Indica quotations was offset by demand-driven price declines for all other major traded rice varieties.<\/p>\n This helped to push the FAO Food Price Index up to 131.1 points in July, a rise of up 0.7 points.<\/p>\n More details to follow\u2026<\/p>\n Share<\/a><\/p>\n Updated at\u00a004.13 EDT<\/p>\n UK house price inflation lowest since November 2023<\/p>\n Back in the UK housing markets, annual price inflation slowed to its lowest rate in more than two and a half years.<\/p>\n The 0.1% year-on-year rise in prices is the slowest since November 2023, Lloyds\u2019 house price report shows.<\/p>\n Amanda Bryden, head of mortgages at Lloyds, says:<\/p>\n double quotation mark\u201cMore broadly, average house prices have remained relatively stable for almost two years, moving within a narrow range over that period and sitting just +0.5% higher than they were in November 2024.<\/p>\n That trend has persisted even as buyers and sellers have faced a more uncertain economic backdrop this year. \u201cAffordability remains a challenge for many would -be buyers and, following recent events in the Middle East, mortgage rates have edged higher again after easing earlier in the summer”.\u201d<\/p>\n Share<\/a><\/p>\n TransPennine Express are urging passengers to \u201cplease check carefully before any travel on Friday morning\u201d.<\/p>\n Various ticket restrictions have been eased to help passengers, with train tickets being accepted on Bee Network buses and Metrolink trams in Greater Manchester.<\/p>\n Share<\/a><\/p>\n Railway operator Northern has said its \u201cdo not travel\u201d alert first issued on Thursday afternoon would remain in place until 10am on Friday, as \u201csome services will be amended and may not be able to run at all\u201d.<\/p>\n Share<\/a>Disruption in the Greater Manchester \/ north west of England expected until noon<\/p>\n Disruption to rail services in the Greater Manchester area and the north west of England expected to continue until 12:00pm, according to Network Rail\u2019s website<\/a>.<\/p>\n Network Rail\u2019s service status page Photograph: Network Rail<\/p>\n The disruption between Newport and Cardiff is due to a fire next to the railway track last weekend<\/a>.<\/p>\n Share<\/a><\/p>\n Updated at\u00a003.12 EDT<\/p>\n Preston railway station Photograph: Christopher Thomond\/The Guardian<\/p>\n Normal service was restored between Preston and Lancaster, on the West Coast mainline, shortly after midnight.<\/p>\n Share<\/a>Network Rail: Rail services largely restored across North West<\/p>\n Happily, Network Rail are reporting that \u201cmost train services across the North West are running this morning\u201d after yesterday\u2019s power cut \u2013 but there is still the risk of disruption.<\/p>\n Network Rail is warning that some TransPennine Express services continue to be affected as trains and crew return to their normal positions following yesterday\u2019s disruption. That suggests there could be problems travelling between major cities in the region today.<\/p>\n Passengers planning to travel this morning are advised to check before they travel using National Rail Enquiries or their train operator\u2019s website for the latest travel information, it says.<\/p>\n Chris Wright, Network Rail\u2019s North West route director, explains:<\/p>\n double quotation mark\u201cI\u2019d like to thank passengers for their patience following yesterday\u2019s power outage and the disruption it caused across the North West.<\/p>\n \u201cOur engineers worked through the night to restore signalling systems and recover the railway, and I\u2019m pleased that most services are now running this morning. While some passengers may still experience disruption, we\u2019re continuing to work closely with train operators to return services to normal as quickly as possible.<\/p>\n \u201cAnyone planning to travel this morning should continue to check before they travel for the latest information.\u201d<\/p>\n Share<\/a><\/p>\n Avanti West Coast, CrossCountry, East Midlands Railway, London Northwestern, Northern, TransPennine Express, and Transport for Wales were all hit by yesterday\u2019s power outage.<\/p>\n Share<\/a>Rail passengers facing more disruption after power outage<\/p>\n Train passengers face across the Midlands and north-west England are facing the threat of further travel chaos today, after a power outage ground trains to a halt.<\/p>\n Network Rail has reported that further disruption is likely today because many trains and their crew \u201care not where they would normally be after this unexpected incident\u201d.<\/p>\n The disruption means some trains will be delayed, cancelled, or sent on revised routes across the network.<\/p>\n Network Rail\u2019s engineers have been working to fix signalling issues caused after electricity cut out in the main control hub for north-west England\u2019s railways, the Manchester Rail Operating Centre, which led to widespread cancellations and delays to services.<\/p>\n Chris Wright, Network Rail\u2019s North West route director, said yesterday:<\/p>\n double quotation mark\u201cI\u2019m extremely sorry for the disruption today and the very difficult journeys many people have experienced.<\/p>\n Our engineers are working tirelessly to restore the signalling systems impacted by the power cut at lunchtime.\u201d<\/p>\n