9 h. ago UK retail sales slump in March; Lower Thames Crossing approval welcomed (and criticised) – business live

UK retailers gloomy, while tunnel to connect A2 and M2 in Kent to the A13 and M25 in Essex has been approved.Lower Thames Crossing plan for Essex and Kent approved by governmentEuropean stock markets are higher this morning, as investors cling to hopes that Donald Trump’s plan to impose reciprocal tariffs on trading partners could be more targetted than feared.The pan-European Stoxx 600 index has gained 0.57% this morning, with gains on the German DAX (+0.5%), French CAC (+0.9%) and Italian FTSE MIB (+0.7%).US markets are beginning to show some belief that President Trump’s strong arm negotiating tactics on tariffs might not be quite as punitive for the US economy as feared.There are growing hopes that if they are more targeted, as rumoured, they might helpshore up domestic industry, while securing better terms for the US on the global trading stage.Tesla currently faces a number of challenges in Europe, ahead of the launch of its new Model Y mid-size SUV this month. The EV maker ha...

Economics

10 h. ago Tesla sales fall by 49% in Europe even as the electric vehicle market grows

European sales of Tesla electric vehicles tumbled 49% in the first two months of the year even as overall sales of EVs grew

Economics

12 h. ago UK retail sales slump in March amid weak confidence, CBI says – business live

Rolling coverage of the latest economic and financial newsEuropean stock markets are higher this morning, as investors cling to hopes that Donald Trump’s plan to impose reciprocal tariffs on trading partners could be more targetted than feared.The pan-European Stoxx 600 index has gained 0.57% this morning, with gains on the German DAX (+0.5%), French CAC (+0.9%) and Italian FTSE MIB (+0.7%).US markets are beginning to show some belief that President Trump’s strong arm negotiating tactics on tariffs might not be quite as punitive for the US economy as feared.There are growing hopes that if they are more targeted, as rumoured, they might helpshore up domestic industry, while securing better terms for the US on the global trading stage.Tesla currently faces a number of challenges in Europe, ahead of the launch of its new Model Y mid-size SUV this month. The EV maker has a smaller, ageing lineup while traditional automaker rivals and new Chinese entrants alike continue to launch new, of...

Economics

14 h. ago Tesla sales plunge 42% in Europe and market share continues to shrink amid fallout over Elon Musk's support for hard

Tesla's market share in Europe continued to shrink year-on-year in February, as sales dropped for a second consecutive month despite rising overall EV registrations on the continent.

Economics

14 h. ago Chinese electric vehicle maker BYD reports 2024 revenue over $100B, topping Tesla's sales

Chinese electric vehicle maker BYD has reported its revenue soared to a record $107 billion last year as its sales of battery electric and hybrid vehicles jumped 40%

Economics

15 h. ago Tesla’s EU sales almost halve this year; Hyundai announces $21bn US investment to avoid tariffs – business live

Rolling coverage of the latest economic and financial newsShell chief executive Wael Sawan’s pay package rose by 8.5% last year, to £8.6m, attracting criticism from environmental campaigners.Sawan’s pay rose from £7.9m in 2023, Shell’s annual report shows this morning, due to increased bonus payments such as through its long-term incentive plan.“After a year of unchartered climate extremes and huge energy bills, which are set to spike again in many countries this year, Wael Sawan’s obscene pay packet will feel like a slap in the face for millions.“It’s maddening to know that Big Oil bosses like Sawan are raking it in, as they double down on the oil and gas that’s fuelling climate devastation, and continue to profit from an energy crisis that’s leaving so many of us poorer.” Continue reading...

Economics

33 h. ago Tesla’s Europe sales drop nearly 45% amid row over Musk’s Trump links

US carmaker’s European market share falls as Chinese rival BYD overtakes it on global revenue, topping $100bnBusiness live – latest updatesSales of new Tesla cars slumped in Europe last month in the latest indication of a potential buyer backlash over Elon Musk’s high profile and controversial behaviour since becoming a leading figure in Donald Trump’s administration.The Texas-based electric carmaker sold less than 16,000 vehicles across Europe last month, down 44% on average across 25 countries in the EU, the UK, Norway and Switzerland, according to data compiled by the research platform Jato Dynamics. Continue reading...

Politics

53 h. ago The Guardian view on China's EV breakthrough: helped by the kind of strategic state Elon Musk despises | Editorial

BYD, a Chinese carmaker once dismissed by Tesla’s CEO, claims to have outpaced western rivals with charging tech that’s as fast as filling petrol enginesTesla’s boss, Elon Musk, once thought the idea that China’s BYD could compete with his company was laughable. In 2011, he smugly dismissed the Chinese carmaker as unimpressive, its products unattractive and its technology “not very strong”. He’s not laughing now – and not just because Tesla’s stock has plummeted amid a boycott by motorists protesting against his embrace of far-right politics. More pressingly, Mr Musk, like other western carmakers, has been outpaced by BYD.Last week, the Chinese electric vehicle (EV) manufacturer unveiled new charging technology that, it says, is capable of delivering 400km (249 miles) of driving range in just five minutes – as quick as filling up a petrol car. The system, released next month, will be fitted in two EVs, priced from 270,000 yuan (£29,000) – comparable to Tesla’s most affordable model ...

Politics

54 h. ago Rise of the 'Tesla killer': Chinese firm sees shares soar as Elon Musk's stock sinks. This is what it could mean for your finances...

Its electric cars have driven in from China - and now this company is being dubbed 'the Tesla killer'. Shares in BYD have accelerated to a record high and are up 52 per cent this year.

Events

3 d. ago Traitorous timeline of Tesla – Elon Musk's rise to power and fall from grace

As Tesla sales stall across Europe and the company's net income drops, many have been left to wonder how Musk found himself at the helm of the EV car company despite not actually founding it

Politics

6 d. ago Rise of the 'Tesla killer': Chinese EV firm backed by Buffett sees shares soar as Elon Musk's stock sinks

Its electric cars have driven in from China - and now this company is being dubbed 'the Tesla killer'. Shares in BYD have accelerated to a record high and are up 44 per cent this year.

Events

6 d. ago The rise of the 'Tesla killer': How a Chinese electric car firm backed by Warren Buffett has seen its shares soar as Elon Musk's brand plummets... so should YOU invest? Read what the experts say

Its electric cars have driven in from China - and now this company is being dubbed 'the Tesla killer'. Shares in BYD have accelerated to a record high and are up 44 per cent this year.

Events

7 d. ago What is EV maker BYD and can its batteries really charge in five minutes?

The Chinese carmaker’s shares have jumped as investors speculated it could outdo Elon Musk’s TeslaBYD says new charging system could be as quick as filling up a tankThe leading Chinese electric carmaker BYD has surged in value after it said its latest batteries charge fast enough to add 400km (249 miles) of range in only five minutes.BYD’s Hong Kong-listed shares gained 4.1% on Monday to hit a record high of 408.80 Hong Kong dollars ($40.58), as investors bet that the company could strengthen its already commanding market position. Continue reading...

Politics

7 d. ago If you’re thinking of snapping up a cheap new Chinese electric car there is something you should know

As the Chinese overtake Tesla for sales and automaker BYD becomes the first in the world to unveil a battery that is capable of charging EV’s in the same amount of time as it takes to fill up a fuel tank, Jonathan Margolis examines the claims that there are other aspects we need to be mindful of.

Politics

7 d. ago Chinese Tesla rival BYD’s electric cars can now fill up as fast as a petrol tank

Super E-Platform offers 400km of range from just five minutes of charging

Events

8 d. ago ‘Tesla is a good target’: Elon Musk’s car business is focus of fury for political role

Justice department’s threat to ‘come after’ demonstrators against Trump-allied billionaire fails to deter protestsHundreds of people protested at Tesla dealerships across the US over the weekend, as the backlash against Elon Musk and the Trump administration continued despite a warning from the attorney general that the government will be “coming after” protesters.The protests, in cities including Los Angeles, Philadelphia, Boston and New York, have come as Musk has seen his net worth plunge and the sales of Teslas plummet in Europe. In Brooklyn, New York, about 50 people gathered outside a Tesla showroom on Saturday afternoon to loudly make their displeasure clear, the fourth such protest in the last four weeks. Continue reading...

Politics

1 week ago Eggings, swastikas and dog poop: Tesla bears brunt of people’s ire against Musk

In response to the billionaire’s scorched-earth raids on US government agencies, Tesla chargers and showrooms are being targetedIn the early morning hours of Donald Trump’s inauguration day, a person wearing a long black cloak and face mask wheeled a cart down an Oregon sidewalk. He was headed toward a Tesla showroom in Salem, and his cart appeared to be loaded with molotov cocktails, according to court documents. One by one, he took out the handmade explosives, lit them on fire and lobbed them at the glass-walled dealership.By the time Salem police arrived, the showroom window was shattered, a fire was burning on the sidewalk out front, a nearby Tesla sedan was ablaze and the alleged vandal had fled. The whole scene was caught by security footage, according to an affidavit from a special agent with the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). The showroom’s general manager estimated $500,000 in damages, with seven vehicles struck and one completely destroyed. Cont...

Politics

1 week ago Pioneer fintech firm Klarna sees revenue boost as it eyes US stock market listing

Swedish company’s valuation jumped 24% in 2024 as ‘buy now, pay later’ market is projected to top $160bn by 2032The Swedish fintech firm Klarna disclosed on Friday that its revenue jumped 24% in 2024 as the “buy now, pay later” (BNPL) pioneer made public its filing for a much-anticipated US stock market listing.The company, which reshaped online shopping through its short-term financing model, drew investor attention as its valuation soared from $5.5bn to $46.5bn in just two years, fueled by three funding rounds between mid-2020 and 2021. Continue reading...

Economics

1 week ago Shots fired at Tesla dealership as backlash against Elon Musk grows

Police in Oregon say gunshots were fired at a Tesla dealership for the second time in a week

Economics

1 week ago Tesla warns Trump administration it is ‘exposed’ to retaliatory tariffs

Elon Musk’s electric-car maker says levies could make it costlier to produce vehicles in the US

Events