Business
Tesla sales fell 40% across Europe in July; Drax shares tumble 10% after FCA launches investigation – business live
Posted on Thursday August 28, 2025
Rolling coverage of the latest economic and financial newsShares in power generator Drax have tumbled by 10% after it revealed this morning it is being investigated by the City watchdog.Traders drove Drax’s share price down to 630p in early London trading, down from 703.5p last night, following the news that the FCA is probing whether its recent annual reports comply with UK Listing Rules.Meanwhile, possible electricity rate adjustments and higher rice tariffs could raise inflationary pressures over the policy horizon. The Monetary Board observed that domestic demand has held firm. However, the impact of US policies on global trade and investment continue to weigh on global economic activity. This could temper the outlook for the Philippine economy. Continue reading...
UK landlords could face tax from rents that may raise £2bn
Posted on Thursday August 28, 2025
Treasury reportedly considering budget move expanding national insurance to include rental income The Treasury is reportedly considering a tax on landlords that will target income from rents in the upcoming autumn budget.The proposals are centred on the expansion of national insurance to include rental income, which is currently exempt from the levy, as part of a broader push to plug a potential £40bn shortfall in the public finances. Continue reading...
Meet the water sommeliers: they believe H₂O can rival wine – but would you pay £19 a bottle?
Posted on Thursday August 28, 2025
A restaurant in the English county of Cheshire has launched a water menu, as have a number of US establishments. Is it really possible, though, to tell one terroir from another?For diners at a fancy restaurant in Cheshire, there is now a new twist to the usual routine. First comes La Popote’s menu, created by the owners, the chef Joe Rawlins and Gaëlle Radigon, who live upstairs with their children. Next comes the wine list, which includes more than 100 bottles. And then, in what is very much a first for Cheshire, a water list.Rawlins, 32, presents the new menu as I get comfy in the dining room in a converted redbrick barn in Marton, a village halfway between Manchester and Stoke-on-Trent. A choice of seven waters ranges from a £5 bottle of Crag, which comes from the nearby Peak District, to Vidago, a mineral-rich water from a Portuguese spa town, which will cost you £19. Continue reading...
Nvidia sets fresh sales record amid fears of an AI bubble and Trump’s trade wars
Posted on Thursday August 28, 2025
Despite surpassing Wall Street expectations for its AI chips, company shares drop 2.3% in after hours tradingChipmaker Nvidia set a fresh sales record in the second quarter, surpassing Wall Street expectations for its artificial intelligence chips. But shares of the chip giant still dropped 2.3% in after hours trading, in a sign that investors’ worries of an AI bubble and the repercussions of Donald Trump’s trade wars are not quelled.Nvidia’s financial report was the first test of investor appetite since last week’s mass AI-stock selloff, when several tech stocks saw shares tumble last week amid growing questions over whether AI-driven companies are being overvalued. Continue reading...
Confidence drops across UK services in face of higher costs and weak demand
Posted on Wednesday August 27, 2025
CBI survey shows firms cutting hiring and investment as profits squeezed, with outlook gloomy for rest of yearBusiness confidence plunged this month across the UK’s services sector as mounting cost pressures and weak demand hit profits and undermined the outlook for the rest of the year.The CBI’s latest service sector poll found that a majority of companies were gloomy about their prospects and discounted the acceleration in activity that usually follows the return to work after the summer break. Continue reading...
Octopus Energy founder appointed as UK government adviser
Posted on Wednesday August 27, 2025
Greg Jackson expected to use three-year term on Cabinet Office board to push government to moderniseKeir Starmer has appointed the outspoken founder of Octopus Energy as an adviser, with a remit to challenge government thinking.Greg Jackson has joined the Cabinet Office board, an influential core of government advisers, as a non-executive member. Continue reading...
How hard will Trump’s 50% tariff hit India, and what is Delhi doing about it?
Posted on Wednesday August 27, 2025
Likened to a ‘trade embargo’ and an ‘earthquake’, it could cut exports from affected sectors by as much as 70%Donald Trump’s tariffs of 50% have come into force on most US imports from India. The US president followed through on his threat to punish one of the world’s largest economies for its purchases of discounted Russian oil. Continue reading...