The UK government remains steadfast in its electric vehicle (EV) mandate, with Transport Secretary Louise Haigh reaffirming that the targets will not be relaxed. However, she acknowledged the possibility of introducing “flexibilities” to address challenges faced by manufacturers. Under the mandate, an increasing percentage of new cars sold must be electric, culminating in an outright ban on petrol and diesel cars by 2030 and hybrids by 2035. Failure to meet these targets incurs significant fines of £15,000 per vehicle, a concern as EV sales currently lag behind the required percentage for next year. Amid mounting concerns, Nissan, a major UK…
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NEW DELHI (Reuters) – India’s economic growth requires “far more affordable” bank interest rates, the finance minister said on Monday, adding New Delhi was committed to measures to ensure the economy remained on course. “At a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable,” the minister, Nirmala Sitharaman, said at an event in Mumbai. Last week, the nation’s trade minister said the Reserve Bank of India (NS:) (RBI) should cut interest rates to boost economic growth and look through food prices while deciding on monetary policy. The…
The arrival of the 2025 model year ushers in significant changes: fresh additions in showrooms and the farewell of several familiar names. As the automotive industry shifts towards electric vehicles (EVs) and SUVs, some iconic performance cars, dependable sedans, and economic models are being left behind. Here’s a comprehensive look at what’s retiring—from beloved muscle cars to practical sedans and quirky compacts. Performance Icons Exiting the Stage Chevrolet Camaro After a storied history, the Chevrolet Camaro is officially retiring. Following a farewell edition known as the Panther, the legendary muscle car won’t be part of Chevy’s future lineup. While Chevrolet…
A general view shows a sign of CVS Health Customer Support Center in CVS headquarters of CVS Health Corp in Woonsocket, Rhode Island, U.S. October 30, 2023. Faith Ninivaggi | ReutersCVS Health said on Monday it would add four new members to its board in an agreement with Glenview Capital Management, including the hedge fund’s chief executive Larry Robbins.Shares of the healthcare conglomerate rose nearly 3% in premarket trading.Longtime investor Glenview Capital Management bought 2.8 million CVS shares during the third quarter, increasing its stake by 31%.”In our discussions with the leadership at Glenview, we agreed that we can deliver greater…
The 2024 Global Automotive Consumer Study highlights major trends and disruptive technologies that are set to influence the automotive industry. Surveying over 27,000 consumers from 26 countries, the study identifies key areas of change, including electric vehicle adoption, shifting brand preferences, interest in connected technology, and a rise in vehicle subscription models. These findings offer valuable insights for companies seeking to adapt to consumer demands and challenges in the mobility sector. Electric vehicle adoption faces challenges that could hinder decarbonization efforts. Despite price reductions and government incentives aimed at boosting EV sales, issues like high upfront costs, range anxiety, and…
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Image source: Getty Images The Rolls-Royce (LSE: RR) share price sometimes feels like it’s losing altitude, exhausted by its relentless climb higher. It’s drifted 5.5% lower over the past month, for example. Zooming out however, it’s still the best-performing FTSE 100 share over one year (+121%), two years (+491%), and three years (+274%). These are jaw-dropping returns. But what might be next for this incredible outperformer? Well, one City analyst reckons it’s going 22% higher to 655p over the next 12 months. A smorgasbord of opinion The analyst is David Perry from JP Morgan who earlier this month maintained a…
Asset managers are eyeing potential for grid industry. Source link
VIENNA (Reuters) -The three Austrian parties in the so-called “sounding out” phase of talks on forming a new government have agreed to launch full-scale coalition talks, conservative Chancellor Karl Nehammer, who is leading the process, said on Monday. The far-right Freedom Party (FPO) came first in September’s parliamentary election but, with around 29% of the vote, it would have needed a coalition partner to control a majority of seats in parliament and establish a government. Since no partner was forthcoming, President Alexander Van der Bellen tasked Nehammer, as leader of the second-placed People’s Party, with forming a government without the…
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street feels a little bruised after its worst week in 10 spoiled the post-election party, with home truths on interest rates and earnings seeping back in along with all the uncertainty on what a new administration will actually do come January. Stocks were side-swiped on Friday after a week of irksome inflation readings, hot retail updates and Federal Reserve boss Jerome Powell’s equivocation on future easing. There was also trepidation, however, ahead of chip giant Nvidia latest earnings report on Wednesday – as the world’s…