Tevva Motors is latest to ditch UK: Royal Mail EV lorry supplier moves to US August 16, 2023 Royal Mail’s electric lorry supplier Tevva Motors will move its headquarters to the US after announcing a merger with a New York-listed electric carmaker. Tevva Motors, whose headquarters are in Tillbury, Essex, said it would merge with Canada-based ElectraMeccanica and relocate to Delaware. The start-up firm – who manufacture a range of medium and heavy [...]
Inflation: Falling energy bills and price cap helps drive down prices August 16, 2023 Falling energy costs are taming once rampant inflation rates, with the consumer price index rising at its lowest rate since last February.
Bitcoin and Ethereum dip as altcoins slip into the red August 16, 2023 Bitcoin is sitting above $29.1k while Ethereum is trading around the $1.8k mark, both down by around 1% on the day.
House prices rise 1.7 per cent – but Brits advised they will keep coming down August 16, 2023 Average UK house prices increased by 1.7 per cent in the 12 months to June down from a revised 1.8 per cent in May 2023, but property experts are warning this won’t continue for long. New figures from the Office for National Statistics show the cost of a home in the UK is £5,000 more [...]
FTSE 100 live: London flat after inflation fall as Admiral and Aviva lead gains August 16, 2023 The FTSE 100 started Tuesday flat with investors still worried about a further rate hike by the Bank of England despite a drop in inflation. The capital’s premier blue-chip index opened low, fluctuating between 0 and 0.01 per cent in the first hour of trading, sitting at 7,388.08 by 09.45. Headline inflation dropped to 6.8 [...]
One year on from Biden’s Inflation Reduction Act: Britain risks ‘divine right’ as frontrunner in green race August 16, 2023 The UK risks its position in the green energy race if it fails to respond to the US Inflation Reduction Act, an industry boss warns.
Admiral: Insurance giant hikes prices by 20 per cent to stave off inflation hit August 16, 2023 Insurance group Admiral ramped up its prices by 20 per cent in the first half of the year to stave off the worst impact of rampant inflation on its profits margins. In its half year results today, the London-listed motor insurance specialist posted a four per cent bump in profits in the six months to [...]
‘The plan is working’: Sunak hails falling inflation – but PM warned targets still in jeopardy August 16, 2023 Rishi Sunak and Jeremy Hunt have welcomed today’s dramatic fall in inflation to 6.8 per cent, with the prime minister saying it shows his “plan is working”. The government welcomed today’s news of falling headline inflation, despite expectations the Bank of England is still likely to hike interest rates for a 15th straight time. However, [...]
US slowdown doesn’t hold back Balfour Beatty’s pre-tax profit jump August 16, 2023 Balfour Beatty hailed a nine per cent rise in revenues during its half year results, rising to £4.7bn up from £4.1bn when compared to last year, as the construction firm praised its “diverse portfolio” for the lift. The business which works on trackwork and power supply builds has been less impacted by a slow down [...]
Train fares set for huge rise yet again – but it’ll be less than a 9 per cent hike August 16, 2023 Train fares are set to increase yet again - but by less than 9 per cent - despite strike disruption making services woefully unreliable