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 …
Tesco is making a real effort to lower food waste and promote sustainability by donating food approaching its sell-by date for nothing in some supermarkets. The service, which has been piloted in some Tesco Express shops, lets people take home foods with yellow labels after 9:30 pm. But instead of being distributed to the general …
Southwest Airlines is implementing a major shift in its long-standing practices by charging for checked bags, a step that will help increase revenue as the airline faces financial difficulties. The new policy, announced on Tuesday, will be implemented on May 28, representing a dramatic departure from one of the airline's most popular customer amenities. For …
Barclays will pay millions of pounds in compensation to customers after a succession of severe technical breakdowns which left banking services in disarray. The bank puts the total it will have to pay to affected customers at between £5 million and £7.5 million. This was revealed in a recent letter to Members of Parliament (MPs). …
Walgreens Boots Alliance has been bought by private equity company Sycamore Partners in a multi-billion-dollar deal, representing a dramatic change in the ownership of the company. The $23.7 billion (£18.37 billion) deal will see Walgreens Boots Alliance cease to be publicly listed on the Nasdaq stock exchange in New York. Instead, it will move into …
