6:19 am, September 11, 2024
Government set to announce details of package to help Tata Steel plant
The government is expected to announce details of a multimillion-pound package to help the transition to a greener way of producing steel at the country’s biggest steel plant.
Tata Steel is planning to change the way it produces steel at its site in Port Talbot in South Wales, with the loss of up to 2,800 jobs. The company will close the remaining blast furnace at Port Talbot by the end of the month in readiness for switching production with a new electric arc furnace which needs fewer workers.
The business secretary, Jonathan Reynolds, is expected to outline on Wednesday details of a deal to help with the transition.
Amazon Web Services ‘to invest £8bn in UK over next five years’
Amazon Web Services (AWS) is to invest £8bn over the next five years building, operating and maintaining data centres in the UK, the company has announced.
The technology giant said the growth of cloud computing and artificial intelligence was key to the increasing investment, which the firm said could contribute around £14bn to the UK’s GDP and help support around 14,000 jobs each year.
The development and maintenance of new AI tools requires increasingly large amounts of computing power and server space, meaning firms such as AWS are well placed to benefit from the rising demand for cloud computing capacity.
Bentley’s Flying Spur returns as powerful plug-in hybrid
Bentley has introduced a new Flying Spur which arrives as one of the firm’s most powerful models to date.
Blending a turbocharged V8 engine with a plug-in hybrid setup, the new Flying Spur develops a total of 771bhp – 145bhp more than the outgoing V8-powered model. This enables a 0-60mph time of 3.3 seconds yet because of its 25.9kWh battery, it can also travel for up to 47 miles in electric-only mode. Bentley says that a peak charging rate of 11kW can see the battery fully replenished in just under three hours, too.
The exterior design has been tweaked with a new front bumper and rear diffuser to give a sportier, more dynamic appearance.
The markets
The FTSE 100 dropped in value on Tuesday as it was knocked by a slump in oil prices and a weak session for AstraZeneca.
London’s top index finished 64.86 points, or 0.78%, lower to end the day at 8,205.98. The Cac 40 ended 0.24% lower for the day and the Dax index was down 0.89% at the close. In the US, the Nasdaq moved higher as tech firms had a strong opening despite Apple dipping in value after Huawei unveiled a rival phone hours after the launch of the iPhone 16.
The pound was down 0.07% at 1.306 US dollars, and was up 0.07% at 1.185 euros.
New Labour group promises to ‘take on the Nimbys’ over infrastructure building
A new Labour pressure group aiming to ‘take on the Nimbys (Not In My Back Yard) is set to launch on Wednesday.
The Labour Infrastructure Forum (LIF) said it would challenge the government to ‘push through the pain’ to meet the party’s manifesto commitment to get Britain building again. It is backed by former shadow roads minister Bill Esterson and three new Labour MPs – Luke Murphy, Kirsteen Sullivan and Mike Reader.
Gerry McFall, director of public affairs at consultancy Bradshaw Advisory and the LIF’s director, said: ‘Before it [the government] is captured by “events”, it must make meaningful progress on its mandate to take on the Nimbys and rebuild our country – from transport to water, energy to housing.’
Bill creating ‘level playing field for powerless tenants’ to be introduced
Legislation including a blanket ban on no-fault evictions will be introduced on Wednesday, the government has confirmed.
The Renters’ Rights Bill will ensure greater security for renters by creating a ‘level playing field between tenants and landlords’, the government said.
The previous government pledged to end section 21 evictions, which allow landlords to evict tenants with two months’ notice without providing a reason, but concern about its impact on landlords and the courts was set to lead to a delay in implementation. The Conservatives’ Renters (Reform) Bill then ran out of time to progress through Parliament before the election.
Tuesday on Car Dealer
Volvo boss says firm won’t launch an unfinished car again as EX90 rolls out missing tech
Volvo CEO Jim Rowan has pledged not to launch unfinished cars again after the EX90 SUV debuted without key tech like Apple CarPlay and Lidar integration. Eight features will be introduced via updates. Future models will be more complete at launch.
Carmakers could be fined billions for failing to hit strict CO2 targets due to falling EV sales
Renault CEO Luca de Meo warned that carmakers could face €15bn in fines by 2025 for missing strict EU emissions targets due to declining EV sales. De Meo urged for more flexibility, citing insufficient progress towards the required emissions reductions.
Arbury Motor Group carries out shake-up of executives to drive growth
Arbury Motor Group is restructuring its senior team to drive growth, innovation, and adaptability. Directors Scott Stenning, Angus Wiseman, and Garry Beardmore will oversee key brands, while new brand operations managers will support core tasks to future-proof the company.
Toyota Aygo named the most reliable used car for first-time buyers
The Toyota Aygo is the most reliable used car for first-time buyers, with a 6.25% warranty claim rate, followed by the Ford Fiesta (8.32%) and Suzuki Swift (8.99%). Running costs and insurance premiums were key factors for young buyers.
The weather
A cool and breezy day with sunny spells and scattered showers, reports BBC Weather. The showers could be heavy and there’s the risk of thundery downpours. Temperatures will struggle to better 15 degrees in London and 13 in Scotland.
The showers will ease tonight leaving a clear night. Northern coastal areas may hang onto to the odd shower, but most parts will be dry and chilly.
