President Trump has announced a 25% tariff on all foreign vehicles, putting UK manufacturers in a difficult position as they could be faced with new hurdles to their biggest export market. The move followed Mr. Trump signing an executive order on Wednesday, announcing that the new tax will be implemented on April 2, a date …
Chinese electric car maker BYD has made a huge splash by overtaking Tesla in annual revenue for 2024. The Shenzhen-based company posted a staggering 29% rise in revenue to 777 billion yuan ($107 billion; £83 billion). This was mainly driven by the strong sales of its hybrid cars, making BYD top Tesla, which posted $97.7 …
Meghan Markle launched a new e-shopping experience, where her favourite fashion, accessories, and jewellery pieces can be bought by her loyal fans. The Duchess of Sussex, who regularly discusses her method of mixing high-end designer items with budget-friendly clothing, announced the news on Instagram to her 2.6 million fans. In an offering presented through the …
The UK government's plan to re-engineer the rail industry has the potential to result in mass job losses, with it being reported thousands of jobs could go as part of the revamp. The shake-up, to boost the efficiency and operation of the rail network, is likely to see the removal of "duplication" in teams and …
Tesla's European sales plummeted by nearly 45% in February, providing a good sign that Elon Musk's provocative conduct is starting to have an effect on consumers. The fall comes as part of a sustained trend, which implies that the flamboyant CEO's political connections and public gestures are repelling some potential customers from the company. In …
The affordability of housing in England and Wales has come back to pre-pandemic levels, mostly because wages are growing at a much greater rate than property prices, official data shows. In 2023, the median value of a house in England was £290,000, or 7.7 times the median salary of a full-time employee. This represents a …
As fire raged through a critical power substation feeding Heathrow Airport, its Chief Executive Thomas Woldbye chose sleep over direct handling of the crisis. His deputy, Javier Echave, was left to handle the shutdown of Europe's busiest airport on Friday morning. Woldbye, 60, was reported to have been at a function in central London when …
Flights at Heathrow Airport resumed on Saturday morning after a fire broke out in an electrical substation close to the airport. The fire had caused a huge power outage, grinding operations at one of the world's busiest transport centers to a halt. Heathrow confirmed on Saturday morning that it was back to full operation again. …
The sovereign wealth fund of Norway has made a significant investment by purchasing a 25% stake in one of London's most historic districts, Covent Garden. The transaction, worth £570 million, marks the fund's continued faith in central London's real estate market future. Owned by Norges Bank Investment Management (NBIM), this sovereign wealth fund is the …
Former First Minister Nicola Sturgeon is no longer being investigated in the current Police Scotland inquiry into the Scottish National Party's (SNP) finances. The news came as her husband, Peter Murrell, appeared in court in Edinburgh on embezzlement charges. Murrell, the former chief executive of the SNP, faced a private hearing at Edinburgh Sheriff Court …
The Bank of England is expected to keep interest rates unchanged at 4.5% when the Monetary Policy Committee (MPC) announces its latest decision on Thursday. The Bank’s rate plays a crucial role in determining borrowing costs for households, businesses, and the government, while also influencing returns for savers. The last adjustment came in February when …
The Organisation for Economic Co-operation and Development (OECD) has downgraded the global economic growth forecast amid the ongoing fallouts of US President Donald Trump's protectionist tariff policies. In its latest report, the OECD estimates that major economies, such as the UK, will see slower GDP growth rates. The organization's warning is that consumers will bear …
Thames Water has received a £3bn rescue loan after an appeal against the deal was rejected. The struggling utility firm won the loan in February as part of plans to avoid being taken over by the government due to worsening financial pressures. The appeal, lodged by a small number of lenders and Liberal Democrat MP …
Rachel Reeves, preparing for the next spring statement, is especially worried about the surprise 0.1% UK economic slump in January. The Office for National Statistics (ONS) released the figures, contrary to the 0.1% increase City experts had anticipated for the period. The dismal performance of the services sector, which could not counter the industrial sector's …
