Rishi Sunak is “alarmed” by the escalating cost of HS2 amid claims that executives on the project have acted like “kids with the golden credit card”. The prime minister has told allies that he is not prepared to watch the cost continue to escalate after being presented with figures suggesting that the overall price could […]
Offices in London have lost almost a fifth of their value over the past year, much more than blocks in most other European countries. On average, London office values have dropped 17.1 per cent since summer 2022, having fallen in each of the past five quarters, data from BNP Paribas shows. Commercial property around the […]
Screenwriters in the US say they have reached a tentative deal with studio bosses that could see them end a strike that has lasted nearly five months. The Writers Guild of America (WGA) said it was “exceptional – with meaningful gains and protections for writers”. WGA members must still have a final say. Hollywood writers […]
Nissan has pledged to go fully electric in Europe by 2030, outpacing the watered-down ambitions announced by Rishi Sunak of the British government. “There is no turning back now,” Makoto Uchida, chief executive of the Japanese car-maker said. “Nissan will make the switch to full electric by 2030 in Europe — we believe it is […]
Britain’s last remaining manufacturer of alloy wheels has been rescued by a 21-year-old who is also vying to buy Morecambe Football Club. West Bromwich-based Rimstock, which makes forged wheels for luxury marques including Aston Martin and Bentley, has been bought out of administration by Sarb Capital, the investment vehicle of Sarbjot Singh Johal. The financial […]
Brussels is resisting an “urgent plea” for the European Union to extend zero-tariff Brexit trade rules on electric vehicles amid car industry concerns over a deadline of New Year’s Day that could lead to job losses. Not rolling over a 2024 deadline on tariffs could lead to an extra €4.3 billion (£3.6 billion) in costs […]
Amazon is making an investment of up to $4 billion in Anthropic in the latest in a series of alliances between big tech and artificial intelligence start-ups as hype around generative AI technology accelerates. The deal makes Amazon the provider of cloud services for Anthropic’s “mission critical workloads”, the company said in a statement, while […]
UK business magnate John Caudwell, founder of Phones 4u, has announced he may withdraw his support from Prime Minister Rishi Sunak and the Conservative Party due to their views on the net zero initiative. Caudwell, one of Britain’s wealthiest businessmen, has expressed deep-seated concerns about what he terms the “net zero madness”. This shock withdrawal […]
Jeremy Hunt has said that London’s stock exchange should be like the Nasdaq exchange in the US and become “Europe’s place of choice” for technology companies that want to raise capital. Speaking from the west coast of America, where he is meeting tech businesses to bang the drum for investment in the UK, the chancellor […]
A coalition of industrial leaders has launched a last-ditch effort to implore Rishi Sunak not to scale back the HS2 rail line, warning that “constant changes” to the project were damaging Britain’s reputation among overseas investors. The chief executives of China-owned British Steel, American engineering firm Aecom and family-owned construction company Keltbray are among scores […]