69 h. ago IMF warns that trade tensions could test stability of world economy; Reeves ‘confident’ about US trade deal – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Events

3 d. ago US trade war fears drive UK consumer confidence down to record low; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsDonald Trump’s tariffs will make it harder for Sir Jim Ratcliffe’s car division, Ineos Automotive, to reach its first profit.Ineos Automotive’s CEO, Lynn Calder, told Bloomberg that the US president’s 25% tariff on foreign cars will make it harder to hit the earnings target.“For sure, this last week has put a dent in that and, for sure, delayed it,”“We’re stubborn as mules. We’re not easy to knock down.”“With fieldwork completed just days after Donald Trump’s “Liberation Day” tariffs, it is unsurprising that consumer expectations for the economy plummeted to a record low. The original tariff schedule, since reduced for most countries, was expected to reduce growth in the UK and elsewhere. Yet despite this economic pessimism, expectations of retail spending rose slightly as the prospect of Easter shopping drew closer.The state of the economy dropped significantly to -48 in April, down from -35 in March.Their personal financial...

Economics

3 d. ago US trade war will hurt UK growth, Bank of England governor warns; Tesla’s European sales fall again – business live

Rolling coverage of the latest economic and financial newsACEA’s latest European car sales report shows a continued decline in demand for fossil fuel-powered vehicles.While new battery-electric car sales grew by 23.9% in the first three months of 2025, to 412,997 units, petrol car registrations saw a significant decline of 20.6%, with all major markets showing decreases. Continue reading...

Economics

3 d. ago Musk damaged Tesla's brand in just a few months. Fixing it will likely take longer

Elon Musk intends to focus more on his job as Tesla CEO, but it’s unclear if the billionaire will be able to solve a big problem of his own making: damage to its brand

Events

3 d. ago Eni Aluko blames Joey Barton for her dramatic drop in TV punditry work after he called her a 'race card player'

Eniola Aluko, who made 105 appearances for the Lionesses, is suing the former Manchester City and Newcastle midfielder Joey Barton for libel over two posts he made in January last year on X.

Sport

4 d. ago Elon Musk to pull back in Doge role starting May amid 71% dip in Tesla profits

CEO to pare back White House work to one to two days weekly as analysts say role has caused branding crisisThe Tesla chief executive Elon Musk said he will start pulling back from his role at the so-called “department of government efficiency” starting in May. Musk’s remarks came as the company reported a massive dip in both profits and revenues in the first quarter of 2025 amid backlash against Musk’s role in the White House.On an investor call, Musk said the work necessary to get the government’s “financial house in order is mostly done”. Continue reading...

Politics

4 d. ago Tesla sales plunge as carmaker warns ‘political sentiment’ could impact future demand

Profits slide 71% to $409m as analysts conclude Elon Musk’s role in White House has caused branding crisisTesla saw a 9% drop in revenue year over year in the first quarter of 2025. The company brought in $19.3bn in revenue, well below Wall Street expectations of $21.45bn. The company reported an earnings per share of 27 cents, also well under investor expectations of 43 cents in earnings per share.Tesla profits also slid 71% to $409m compared with $1.39bn in net income the previous year. Continue reading...

Events

2 w. ago 'Musk is a bully who uses his wealth as a weapon to enforce an authoritarian agenda'

Elon Musk is set to step away from his political role in the coming weeks, White House insiders have told as his company, Tesla, faces plummeting sales and tanking share prices

Events

2 w. ago Virginia elections will test the backlash against Musk – and Democrats are ready with a plan

Democrats in the state view themselves as on the frontlines responding to Donald Trump’s harmful policiesDemocrats have begun plotting the next phase of their electoral revival with a seven-figure spend in Virginia ahead of a vote they hope will turn into a referendum on Elon Musk.The party, which had been despondent since Donald Trump’s victory last year, got off the canvas last week with a convincing win in a Wisconsin supreme court race and two strong congressional performances in Florida. Continue reading...

Politics

3 w. ago Trapped with a Tesla: my dream car has become a living nightmare | The secret Tesla driver

I bought it to be part of a greener future, but that was before Musk proved so awful. I’d sell it now, but prices have droppedAfter our children left home, my wife and I decided to treat ourselves and buy a new car for a driving holiday in Europe. We’d been driving a family estate car for years, loading it up with kids and making trips to and from universities, but we wanted something for ourselves.As a surprise, she booked a test drive for the Tesla Model S for my birthday. It was unlike any car I’d been in before. I thought “Wow, this is amazing.” It felt like the future: a computer on wheels that was constantly updating with new features. I can’t say I feel that way now – and many people seem to share that view. Tesla sales figures declined by 13% in the first few months of this year. Others feel even more uneasy: more than 200 demonstrations happened last weekend outside company facilities around the world to protest against Elon Musk and the wrecking ball he has taken to the fe...

Transport

3 w. ago Trump's US tariffs will have "devastating" impact on UK business as Tesla sales plunge

Watch today’s top business news in under two minutes - as Donald Trump tariffs begin to bite.

Economics

3 w. ago Tesla sales plunge by 13% to a three year low amid backlash against boss Elon Musk, a model redesign and slump in demand from China

The world's richest man and self-declared Tesla 'Technoking' has attracted widespread international condemnation for his social media activity and actions such as an alleged Nazi salute.

Economics

3 w. ago Tesla quarterly sales slump 13% amid backlash against Elon Musk

Drop is likely combination of ageing lineup, increased competition and backlash to Musk’s politicsTesla sales declined in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers.The drop of 13% is likely due to a combination of factors, including its ageing lineup, competition from rivals and a backlash from Musk’s embrace of rightwing politics. It also is a warning that the company’s first-quarter earnings report later this month could disappoint investors. Continue reading...

Economics

3 w. ago Tesla sales drop 13% in first quarter as Elon Musk backlash, aging models hurt demand

Tesla sales fell in the first three months of the year in another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers

Politics

3 w. ago Tesla sales drop dramatically amid backlash against Elon Musk

Tesla delivered 13 percent fewer cars in the first quarter of this year, it has said, amid growing backlash to Elon Musk.

Economics

4 w. ago ‘Love the car, not the CEO’: how Europe’s Tesla owners feel about their cars

Some voice regret over Musk’s backing of Trump, but others say CEO’s views do not detract from the car’s appealTesla showrooms across the world are expected to face anti-Elon Musk protests on Saturday, as Musk’s senior role in the Trump administration has contributed to a European consumer backlash by some Tesla owners and prospective buyers.It follows a 44% drop in Tesla sales in Europe on average last month, according to the research platform Jato Dynamics. Tesla’s European market share fell to 9.6% last month, the lowest it has registered in February for five years. Continue reading...

Politics