City cautiously approves of chancellor’s post-Brexit regulations plan January 19, 2020 The City of London Corporation has responded with cautious approval to chancellor Sajid Javid’s statement that post-Brexit financial services trade with the EU should be on the basis of “outcome-based” equivalence of rules. The chancellor has faced a backlash from car manufacturers and business bodies, however, after he told the Financial Times that the UK [...]
SMMT: UK car sales plunge to six-year low despite electric growth January 6, 2020 British car sales slumped to a six-year low in 2019, as widespread economic uncertainty put the brakes on an industry whose only glimmer of hope came in the form of record electric vehicle sales. New car registrations fell two per cent to 2.31m last year, according to the Society of Motor Manufacturers and Traders (SMMT), [...]
The brain-dead era of Angela Merkel is limping to a finish December 9, 2019 The always interesting French President Emmanuel Macron got it precisely wrong in November when he airily derided Nato — the most successful alliance in the history of the world — as experiencing “brain death”. Brazening it out, Macron doubled down, defending his remark at the Nato summit of last week. As I never tire of [...]
Electric dreams: How long until electric cars go mainstream in the UK? November 26, 2019 Visitors to the picturesque Whitby Bay beach in north Yorkshire were in for a shock earlier this month, when they encountered two giant footprints etched into the sand. The left was half the length of a football pitch, at 50 metres – the right was just 3.5 metres long. The reason? A publicity stunt by [...]
Financial Conduct Authority clamps down on motor financing commissions October 15, 2019 The UK’s financial regulator is set to crackdown on motor financing commissions in an attempt to save drivers £165m a year. The Financial Conduct Authority (FCA) announced today it would ban how some auto dealers and brokers structure their sales commissions. Read more: Financial Conduct Authority sawn raids nearly doubled in 2018 The FCA said [...]
Finance watchdog to crack down on interest-linked car commission October 15, 2019 Britain’s financial watchdog has said it plans to ban auto dealers from taking commission linked to the interest rates on loans used to pay for cars, which it says would save consumers £165m. Dealers and brokers that receive interest-linked commission can currently set the rate, causing a strong incentive for them to act against customers’ [...]
The City Corporation is leading the charge for a greener, cleaner, plastic-free capital October 7, 2019 Brexit has been top of the agenda for many City firms in recent years, but one issue that could disrupt business models even more significantly in coming decades is climate change. In the words of Bank of England governor Mark Carney, the transition to a carbon-neutral economy poses an existential challenge – and it is [...]
Frankfurt Motor Show: Car industry bosses warn against no-deal Brexit September 10, 2019 Bosses at car makers BMW and Vauxhall, which collectively employ more than 7,000 people in the UK, have warned about the destructive effects a no-deal Brexit could have on the automotive industry. Workers at BMW’s Mini factory in Oxford could face losing work in the event of a no-deal Brexit, according to the car maker’s [...]
How will global disruption affect small cap stocks? September 9, 2019 Small capitalisation stocks, or small caps, can offer the potential for higher returns compared with investing in larger companies, although they are not without risks. As with all equities, investors may not get back the amount they originally invested. As well as the potential for higher returns, investors are also being drawn to the sector [...]
Pendragon called on restructuring firms to mitigate effects of industry car crash September 8, 2019 As the car industry continues to splutter, one of Britain’s biggest dealers has turned to restructuring experts to try to halt its downward spiral of profits. Pendragon, which owns the ubiquitous Evans Halshaw car dealership brand, spoke to several firms about helping shake up its spending earlier this year, but the process was cut short [...]