China’s credit outlook cut to negative; Rupert Soames named CBI president; trading outages in London – as it happened

Moody's cuts its outlook on China's credit rating, while trading in smaller stocks in London is hit by systems problems

• Rupert Soames named as next president of CBI as it tries to rebrand
• Shoppers cut back on non-essential items to add to UK retail gloom

Back in the UK, car sales have risen again... but registrations of battery-powered vehicles were lower than a year ago.

There were 156,525 new car registrations last month, which is 9.5% more than in November 2022. It's the strongest November for car sales in four years, and just 0.1% lower than in 2019, before the pandemic.

Britain's new car market continues to recover, fuelled by fleets investing in the latest and greenest new vehicles. With car makers gearing up to meet their responsibilities under new market legislation, and COP28 currently underway, now is the time to take sensible steps that will multiply that economic growth and minimise carbon emissions.

Private EV buyers need incentives in line with those that have so successfully driven business uptake - and workable trade rules that promote rather than penalise the transition.