6:55 am, October 28, 2022
Billionaire Elon Musk completes Twitter takeover
Elon Musk is now in charge of Twitter and has ousted its top three executives.
Sources on Thursday night (early Friday morning UK) would not say if all the paperwork for the deal, originally valued at $44bn (£38bn), had been signed or if it had been closed.
However, they said the South Africa-born entrepreneur was in charge of the firm and had dismissed chief executive Parag Agrawal, chief financial officer Ned Segal and general counsel Vijaya Gadde. Full story here
Rishi Sunak urged to expand windfall tax as Shell’s profits soar
Rishi Sunak is facing calls to expand the windfall tax on fossil fuel giants after Shell avoided paying the levy despite a doubling of profits fuelled by soaring energy prices.
The British multinational adjusted its earnings for the three months to the end of September to £8.2bn – twice that of the same period last year.
Having profited to the tune of nearly £10bn earlier in the year, the company is on course for its most profitable year ever.
Transport body seeks to take legal action against 180 people over road protests
Transport for London bosses have asked a High Court judge to let them take legal action against more than 180 named people following the intensification of Just Stop Oil protests.
Lawyers representing TfL told Mr Justice Freedman yesterday that since the start of October ‘protest activity’ has ‘very largely focused’ on London roads.
They told the judge at a High Court hearing in London that the ‘deliberate blocking’ of roads caused serious disruption and created a ‘risk to life’.
Suella Braverman has ‘strong relationships’ with security services, No 10 says
Suella Braverman maintains ‘strong relationships’ with the security services, Downing Street insisted after Tory MPs expressed concern over her reappointment as home secretary.
Rishi Sunak was under growing pressure over his decision to resurrect her in the role just six days after she was forced to resign by Liz Truss over a security breach.
Labour accused the government of a ‘farcical lack of scrutiny’ as cabinet secretary Simon Case resisted demands to open an inquiry into her rehiring.
FTSE climbs after energy stocks boosted by bumper Shell profits
The FTSE 100 lifted further to close at its highest level in three weeks after a strong showing by Shell helped support trading.
London’s top index ended the day up 17.62 points, or 0.25 per cent, at 7,073.69.
Elsewhere, the German Dax improved 0.21 per cent by the end of the session and the French Cac finished 0.37 per cent lower.
Thursday’s Car Dealer headlines you might have missed
- Listed car dealer Pendragon has ‘contained’ cyber attack – but new deadline for data release issued by hackers
- Investigation: Will cost of living crisis cause a crash in used car prices?
- Cazoo boss hails Q3 record performance despite significant loss last year
- Sytner owner posts record revenue for third quarter but gross automotive profit dips to £863.3m
- Car dealers will have to wait at least two years for full market recovery, say experts
- Dealer group Inchcape reports record order books for third quarter
- UK car production fell in September for first time in four months
- Car dealer giant Group 1 makes £80m profit in UK in three months
Tesla Model Y named Europe’s best-selling new car for first time
The Tesla Model Y has become Europe’s best-selling new car for the first time as EV sales continue to soar across the continent.
The luxury model shifted 29,367 units in the ninth month of the year, placing it well clear of the second-placed Peugeot 208, which sold just 19,601.
The incredible performance represents a 227 per cent rise for the Model Y, with the SUV accounting for close to three in every 100 new cars registered in Europe last month. Full story here
Welsh police force spends almost £40,000 on ‘crime-fighting’ tuk-tuks
A Welsh police force has spent almost £40,000 on four tuk-tuks that it claims will help officers fight crime.
Gwent Police revealed that it was rolling out the three-wheeled vehicles to patrol parks and other public spaces in Newport and Abergavenny in south-east Wales.
The rickshaw-style cars, known for their use as taxis primarily in Asian countries, will be deployed as ‘safe spaces’ where people can report incidents and seek help if they are feeling unsafe.
Octopus Energy ‘on brink of securing government-backed deal to buy Bulb’
Octopus Energy is on the brink of sealing a deal to buy Bulb, its collapsed rival that has been run with billions of pounds of government support for nearly a year, according to reports.
The government could help strike the deal that would see Bulb’s approximately 1.5m customers transfer to the challenger brand, according to Bloomberg.
The deal is expected to see the government pay Octopus to take on the customers. Octopus has reportedly asked for around £1bn to deal with the customers.
Rishi Sunak won’t attend Cop27 summit
Rishi Sunak will not be attending Cop27 in Egypt next month, Downing Street has said.
The PM’s predecessor, Liz Truss, had been planning to attend the UN climate summit in November, but Sunak has pulled out of attending, citing ‘domestic commitments’ ahead of the Autumn Budget.
Downing Street also confirmed that climate minister Graham Stuart will no longer be attending Cabinet.
Weather outlook…
Today, the heavy rain in the west will quickly sweep north-eastwards across the UK but should be fairly light and patchy to the south-east, turning drier in the afternoon, with sunny spells, the BBC reports.
This evening will start with dry conditions and plenty of clear spells. Thicker cloud will gradually build in from the south, bringing spells of rain across most of Wales and England by dawn.
Tomorrow will see outbreaks of rain spreading northwards. The south will have sunny spells in the afternoon, but showers will linger towards the west.
