Tesla shares stall as Musk delivers fewer EVs than expected October 2, 2024 Tesla shares fell over 5.4 per cent on Wednesday after the electric vehicle (EV) company’s third quarter deliveries came in south of expectations. Elon Musk’s company shipped 462,890 EVs in the three months to 30 September, up 6.4 per cent from the previous quarter, making it the first deliveries increase this year for the car maker. However, [...]
World’s largest insurers head to court for high-stakes clash October 2, 2024 A multi-billion pound trial over stranded aircraft in Russia kicked off this morning in a jam-packed courtroom
City minister battles for UK to issue blockchain gilts October 2, 2024 City minister Tulip Siddiq is pushing for the UK to begin issuing gilts on the blockchain, despite resistance from other areas of the government. ‘Digital gilts’ would be a government bond issued and traded using blockchain technology, and Siddiq has been fighting for the prospect to modernise the UK financial system. “The underlying asset would [...]
Profit surge sparks hiring boom in London’s insurance sector October 2, 2024 Lloyd's of London recently reported a sharp rise in profits, driving a surge in recruitment across the capital's insurance sector.
Saga in talks with Belgium’s Ageas over insurance deal October 2, 2024 Saga, the British financial services and travel provider for over-50s, has said that it is in talks with Ageas for a deal involving its insurance arm as it looks to reduce debt.
The British government should make Saudi Arabia a top priority October 1, 2024 Interview with Lord Dominic Johnson of Lainston Bilateral trade between Great Britain and Saudi Arabia has grown considerably in recent years. Indeed, the total trade in goods and services between the two Kingdoms amounted to £17.6 billion in the four quarters to the end of Q1 2024. This makes Saudi Arabia the United Kingdom’s twenty-third-largest [...]
Is Rachel Reeves planning a £24bn pension tax raid? October 1, 2024 It has been reported that the Treasury is considering what could amount to a £24bn pension tax raid as Rachel Reeves tries to plug her £22bn budget black hole. The Chancellor has reportedly been looking at tax relief on pension contributions, specifically, employers’ national insurance relief. There are two forms of national insurance. Employees, paid [...]
How private equity swallowed up the UK – and why it’s unsettling regulators September 30, 2024 Private equity has been buying more and more of the UK over the past decade, with thousands of listed or private businesses now snapped up by buyout funds and venture capital investors. Iconic British businesses like Morrisons, Pret A Manger and Asda have been swallowed up by private capital, with deals like the takeover of [...]
How the flap of a butterfly’s wing can affect GDP September 30, 2024 The City is working with conservation organisation to make small, positive changes can have a huge impact on the environment, says Michael Mainelli They say that the flapping of the wings of a butterfly can be felt on the other side of the world. In other words, small actions can generate large changes. Earlier this [...]
How to make the national wealth fund work September 30, 2024 The national wealth fund must do more than just plug funding holes, through targeted and successive interventions it can help a project to reach a growing number of investors and momentum until finally it is no longer needed, says Zvi Wohlgemuth So far, many investors and equity and debt providers to energy transition projects in [...]