Tesla: UK sales slump by £500m as profit slashed September 26, 2025 Sales at the UK arm of Elon Musk’s Tesla slumped by more than £500m as its profit was also slashed during its latest financial year. The division, which is headquartered in Manchester, has reported a revenue of £1.94bn for 2024, new accounts filed with Companies House show. The new figure comes after Tesla posted a [...]
Converge AI: Meet the UK tech decarbonising concrete with AI September 24, 2025 Concrete is everywhere; It’s in the roads we drive on, the buildings we work in, and the infrastructure that shapes the UK’s cities. Yet despite its ubiquity, it’s also one of the hardest materials to make environmentally friendly. This is the challenge that British construction tech scale-up Converge AI, founded in 2014, is trying to [...]
Elizabeth Line operator doubles profit before contract loss September 23, 2025 Profit at the first company to operate the Elizabeth Line in London more than doubled in the year before it lost the contract, it has been revealed. The division of MTR Corporation is part of the wider majority government-owned public transport operator and property developer in Hong Kong and had run the line since it first opened. However, the [...]
Londoners paying £42,700 premium to live near Tube and train stations September 23, 2025 Home buyers in London are paying as much as a £42,700 premium to live close to a train station. According to research from Nationwide Building Society, there is a stark pricing gulf between houses within 500 metres of a station compared to 1,500 metres. Londoners face a significantly higher premium compared to other major urban [...]
Infrastructure could be rare success story for Labour September 23, 2025 The decision to allow a second runway at Gatwick is entirely sensible and most welcome. As the Chancellor said yesterday on her visit to the airport, the development “will mean that people going on holiday will have a greater choice of destinations [and] it will mean lower costs for a family holiday.” More importantly, she [...]
Motor finance: BMW sets aside over £200m for car mis-selling September 22, 2025 BMW’s UK car finance arm has set aside over £200m to cover a potential hit from the motor finance scandal. The firm joins a batch of British lenders and motor companies, which have been forced to prepare provisions with millions of drivers eligible for compensation. In July, the Supreme Court handed City banks a lukewarm [...]
Government approves £2.2bn Gatwick second runway September 22, 2025 Gatwick Airport’s £2.2 billion second runway plan could create thousands of jobs and help “kickstart the economy”, Rachel Reeves said. In the privately-financed project, the West Sussex airport will move its emergency runway 12 metres north, enabling it to be used for departures of narrow-bodied planes such as Airbus A320s and Boeing 737s. This will [...]
Lime boss calls on UK businesses to ‘keep bikes off busy pavements’ September 22, 2025 Lime is calling on UK businesses to help tackle London’s e-bike congestion and the patchwork of borough regulations by providing dedicated parking bays for riders. The bright green bikes have become a symbol of London’s fractured cycling landscape. Yet, under the company’s ‘London action plan’, the micromobility giant claims firms could play a direct role [...]
Bolt: Uber rival’s profit almost wiped out as legal battles drag on September 18, 2025 Profit at the UK arm of Uber rival Bolt was almost wiped out during its latest financial year as it diverted considerable resources to its on-going legal battles. The online taxi firm has reported a pre-tax profit of £133,355 for 2024, down from the £8.2m it achieved in 2023. The business had previously made a [...]
The only way to make HS2 cheaper? Build HS3 September 18, 2025 It’s a basic fact of economics that the more efficiently you make something, the easier it is to bring down the price. Among the best-known examples is the Ford Model T, one of the top-selling cars in the 20th century with more than 15 million produced. The manufacturing process became so efficient, and each car’s [...]