42 h. ago It’s Jeff Bezos vs Elon Musk as Amazon boss gets into the electric car business

New Slate EV is a pick-up that can morph into an SUV – at a fraction of the cost of a Tesla Cybertruck

Economics

2 d. 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

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 Elon Musk says time with Donald Trump's DOGE will 'drop significantly' as Tesla profits plunge

Tesla’s first-quarter profits plunged by more than two-thirds amid a backlash against the electric car company which has damaged sales and sent its stock plunging

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

7 d. ago Donald Trump buys Tesla – but can't drive it for one strict reason

Donald Trump bought Tesla Model S Plaid from tech tycoon Elon Musk last month in a 'show of confidence', but the former president will not be driving it for one very specific reason

Politics

1 week ago LVMH sales fall sharply in warning sign for the luxury industry

Slowing demand in the US and ongoing struggles in China will raise concerns for an industry grappling with Trump’s tariffs

Events

1 week ago MPs demand answers from China as Lib Dem MP on personal trip refused entry into Hong Kong

The former Rochdale councillor was detained, questioned and put on a flight back to the UK

Politics

2 w. ago Tesla stops taking orders in China for two models imported from US

Carmaker removes ‘order now’ buttons for Model S saloon and Model X SUV on its Chinese website amid tariffs warBusiness live – latest updatesTesla has stopped taking orders in China for two models it previously imported from the US, as companies scramble to adapt to prohibitive tariffs imposed in Donald Trump’s trade war.The manufacturer, run by Trump’s close ally Elon Musk, removed “order now” buttons on its Chinese website for its Model S saloon and Model X sports utility vehicle. Continue reading...

Politics

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

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 Donald Trump's telling comment about Elon Musk as world's richest man to leave White House

A comment Donald Trump made about Elon Musk is recirculating after reports the Tesla boss is set to step down from his government role - and his DOGE department could also disappear

Politics

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