Tesla to spend north of $1bn for Australian electric car battery materials annually June 2, 2021 Raw battery materials from Australia alone are expected to cost Tesla north of $1bn every year, the chair of the US carmaker has said today. Australia, which is rich in natural resource, is a business go-to for its bustling mining industry and responsible production practices. Tesla is keen for minerals like lithium and nickel, which [...]
Fuel sales and prices peak as the UK guzzles more post-lockdown June 2, 2021 With road traffic levels rising as restrictions ease, demand for petrol and diesel in the UK has risen two and a half times over since the start of this year, data has shown today. Fuel consumption plummeted in March last year when lockdown was first imposed, but fuel prices have returned to pre-pandemic levels today. [...]
Road trip: Traffic returns to pre-pandemic levels as restrictions ease June 2, 2021 After stay-at-home orders kept roads clear, traffic during weekdays is finally matching pre-pandemic levels, according to data by the Department for Transport today. Traffic on Friday soared 104 per cent past the equivalent weekday in February 2020, largely helped by the Bank Holiday weekend, for the first time since the lockdowns began. Vehicles hitting the [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
Hyde Park: Two derelict townhouses going for £23m, with 60 bedrooms in total June 2, 2021 Two derelict £23m townhouses north of Hyde Park have attracted wealthy buyers with eyes for prime London real estate – as 60 bedrooms across seven storeys is a once in a lifetime-buy. The grade II listed building has both the UK and international elites eyeing the renovation opportunity, which would need tens more millions to [...]
G7 states pumped $42bn more into oil and gas than renewables last year, analysis finds June 2, 2021 Countries within the G7 have channelled $189bn into oil, coal and gas in the last year, despite promises of a green recovery, new analysis has revealed today. Ahead of the UK hosted G7 summit in Cornwall next week, the analysis has also shown that between January 2020 and March 2021, the UK, US, Canada, Italy, [...]
Exclusive: Businesses call on govt to set global standards on environmental impacts June 1, 2021 Businesses are calling on the government to set clear global standards for recording their impact on the environment. A host of CEOs from across the business world, including James Timpson and Schroders’ Peter Harrison, have said that making it cheaper and easier for firms to record their environmental impact would make it easier not just [...]
MPs urge government to donate half of incoming vaccines to Covax scheme June 1, 2021 MPs and peers have urged the UK to adopt a Covid-19 “vaccine matching” scheme in a letter today, which would see half of the doses the arrive in the UK be donated to the Covax scheme. The letter, coordinated by the All-Party Parliamentary Group (APPG), said that prime minister Boris Johnson has a “moral duty” [...]
Heinz sauce making a comeback to the UK with £140m investment June 1, 2021 Kraft Heinz, the food giant behind Heinz and Philadelphia, has tabled plans for a £140m investment in Wigan’s Kitt Green, Europe’s largest food manufacturing facility today. The investment would aim to bring Heinz sauce making back to the UK to bolster its European capacity. In one of the largest post-Brexit investments in the UK, it [...]
Nine Elms: Two £10m ‘sky villas’ in London’s tallest residential tower to go on sale June 1, 2021 London’s tallest residential tower will begin selling apartments this week, starting from just under £1m for a one-bedroom flat. The 53-storey skyscraper, in the £3bn One Thames City development on Nine Elms, has two 3,900 square foot “sky villas” at the top of the building – which are looking to cost around £10m each. A [...]
