28 m. ago Elon Musk could become world’s first trillionaire under new Tesla pay deal

The EV maker’s CEO has to hit some huge targets to get the full award - including making Tesla the world’s biggest company

Economics

2 h. ago Tesla proposes $1tn pay package for Elon Musk; markets brace for US jobs report – business live

Musk would need to hit a series of market value, profit and operational milestones to earn mega-payoutFull story: Retail sales rise but ONS apologises as statistics crisis deepensFull story: Average UK house price reaches record £299,331, says HalifaxBarbara Teixeira Araujo, economist at Moody’s Analytics, says today’s retail sales report shows that the first quarter of the year was not as strong as previously thought:“That U.K. retail sales rose by a strong 0.6% month over month in July—building on a 0.3% increase in June—was definitely good news, especially given the bad vibes coming from the labour market. But we caution against reading too much into the headline.Not only did the underlying pace of growth remain lacklustre, with growth still falling by 0.6% q/q in the three months to July, but there are now significant questions around the reliability of those figures. Issues found with seasonal adjustment led to a thorough overhaul of the methodology this month, resulting in a c...

Economics

25 h. ago US hiring slows as jobs market loses momentum; UK construction in longest slump since 2020 – business live

Construction activity in longest continuous slump in five years, as UK long-term borrowing costs dips backOuch! Britain’s construction sector is suffering its longest continuous downturn since the early days of the Covid-19 pandemic.Construction output slumped again in August, according to the latest poll of purchasing managers from data provider S&P Global.Business activity falls for eighth month in a row, but at slower pace than in JulySolid reductions in new work and employmentOptimism drops to its lowest since December 2022“Construction activity has decreased throughout the year-to-date, which is the longest continuous downturn since early-2020. August data signalled only a partial easing in the speed of decline after output fell at the fastest pace for over five years in July.Sharply reduced levels of housing and civil engineering activity were again the main reasons for a weak overall construction sector performance. Commercial work showed some resilience in August, with t...

Society

28 h. ago UK construction in longest downturn since early 2020; global bond sell

Construction activity in longest continuous slump in five years, as UK long-term borrowing costs dips backOuch! Britain’s construction sector is suffering its longest continuous downturn since the early days of the Covid-19 pandemic.Construction output slumped again in August, according to the latest poll of purchasing managers from data provider S&P Global.Business activity falls for eighth month in a row, but at slower pace than in JulySolid reductions in new work and employmentOptimism drops to its lowest since December 2022“Construction activity has decreased throughout the year-to-date, which is the longest continuous downturn since early-2020. August data signalled only a partial easing in the speed of decline after output fell at the fastest pace for over five years in July.Sharply reduced levels of housing and civil engineering activity were again the main reasons for a weak overall construction sector performance. Commercial work showed some resilience in August, with t...

Politics

51 h. ago 75% of UK businesses did nothing to support charities last year, report finds

Fewer firms are donating money or goods, or giving time to charities, the Charities Aid Foundation found.

Politics

1 week ago Musk’s AI startup sues OpenAI and Apple over anticompetitive conduct

Lawsuit accuses companies of ‘conspiracy to monopolize markets for smartphones and generative AI chatbots’Elon Musk’s artificial intelligence startup xAI is suing OpenAI and Apple over allegations that they are engaging in anticompetitive conduct. The lawsuit, filed in a Texas court on Monday, accuses the companies of “a conspiracy to monopolize the markets for smartphones and generative AI chatbots”.Musk had earlier this month threatened to sue Apple and OpenAI, which makes ChatGPT, after claiming that Apple was “making it impossible” for any other AI companies to reach the top spot on its app store. Musk’s xAI makes the Grok chatbot, which has struggled to become as prominent as ChatGPT. Continue reading...

Technology

2 w. ago Block Elon Musk’s bid to supply UK home energy, Ed Davey urges

Exclusive: Lib Dem leader says giving Tesla a foothold in Britain’s energy market could be national security riskElon Musk’s company, Tesla, should have its application to supply energy to UK homes blocked on national security grounds, Ed Davey has told ministers.The Liberal Democrat leader argued that giving the electric car manufacturer a foothold in the British energy market would be “a gravely concerning move considering Elon Musk’s repeated interference in UK politics”. Continue reading...

Politics

3 w. ago Iceland offering £1 reward scheme for customers who report a shoplifter

Grocery chain employees will verify the incident and the reward will be adding to the shopper’s loyalty cardThe grocery chain Iceland is offering customers who shop a thief a £1 reward on their loyalty card.The frozen food specialist said that anyone who spots a suspected shoplifter in its stores should inform the nearest Iceland employee who will verify the incident before adding the reward to the individual’s loyalty card for immediate use. Continue reading...

Economics

3 w. ago BBC Breakfast viewers baffled and slam 'there's no need' after unusual moment in live broadcast

BBC Breakfast viewers were left scratching their heads as they watched business correspondent Ben Boulos report live from a wind farm in North Lincolnshire.

Politics

3 w. ago Elon Musk's Tesla wants a slice of UK energy market and could supply homes in months

The billionaire tycoon has applied for a licence from Ofgem in a bid to take on the leading energy supply giants like British Gas owner Centrica and Octopus Energy to supply homes across the UK

Politics