UK-China trade talks in Beijing

New business secretary Peter Kyle will travel to Beijing this week to hold the first trade talks with China since 2018.

Kyle will use the relaunch of the UK-China Joint Economic and Trade Commission (Jetco) to seek market access deals worth more than £1bn over five years, according to the Department for Business and Trade (DBT).

The trip forms part of the government’s drive to revive UK-China trade ties and boost the British economy.

National Express owner sees shares hit the skids after earnings fall

National Express owner Mobico has seen shares plunge after posting a drop in half-year earnings.

The coach and bus giant reported a worse-than-expected 12.7% fall in underlying operating profits to £59.9m for the six months to June 30, down 4.8% on a constant currency basis. It also remained in the red with statutory pre-tax losses of £7.1m, although this was narrowed from £29.m a year earlier.

The company flagged increasing competition in the UK coach sector, while it also put the earnings drop down to issues with two contracts at WeDriveU, its North America transit and shuttle services business, which have been hit by temporary operational troubles.

Mercedes EQS completes 748-mile trip on one charge with solid-state battery

A Mercedes EQS fitted with a solid-state battery has just achieved a 748-mile journey on one charge of electricity.

The vehicle travelled from Stuttgart, Germany, to Malmo in Sweden without having to top-up its battery and finished the journey with 85 miles of range left.

The car was fitted with a solid-state battery, which means there is a higher energy density, giving a better range and quicker charging times, improved safety with the removal of the flammable liquid electrolyte, and a solid-state unit has a longer lifespan than a traditional lithium-ion battery.

The markets

The FTSE 100 closed higher on Tuesday, on a mixed day in London, supported by strength in mining stocks after Anglo American announced a deal to merge with Canada’s Teck Resources.

The FTSE 100 index closed up 21.09 points, 0.2%, at 9,242.53. The FTSE 250 ended 87.74 points lower, 0.4%, at 21,596.71 and the AIM All-Share finished down 1.43 points, 0.2%, at 768.30.

The pound eased to 1.3531 dollars late on Tuesday afternoon in London, compared to 1.3545 dollars at the equities close on Monday. The euro dipped to 1.1724 dollars, against 1.1749 dollars. Against the yen, the dollar was trading lower at 147.20 yen compared with 147.60 yen.

Starmer condemns Israel’s strike on Hamas in Qatar

Sir Keir Starmer has condemned Israel’s strike on Hamas leaders in Qatar, warning of a further escalation of violence in the Middle East.

It comes a day before the prime minister is expected to meet Israeli president Isaac Herzog in the UK.

Sir Keir posted on X: ‘I condemn Israel’s strikes on Doha, which violate Qatar’s sovereignty and risk further escalation across the region. The priority must be an immediate ceasefire, the release of hostages, and a huge surge in aid into Gaza. This is the only solution towards long-lasting peace.’

Household complaints to water watchdog soar to highest level in nine years

Household complaints to the water customer watchdog have soared to their highest level in nine years amid the steepest bill rises since the privatisation of the industry.

The Consumer Council for Water (CCW) said complaints escalated to the watchdog by household customers in England and Wales rose for the third year running, up 3% to 8,235 from 7,977 in 2023-24.

Frustration and worry among households over soaring bills saw the CCW receive the highest number of complaints about water companies in almost a decade over the last year.

Tuesday on Car Dealer

‘Europe isn’t ready to go electric-only in 2035’ says Skoda boss

Europe won’t be ready to go electric-only in 2035, one of Skoda’s key bosses has said.

Here are all the important cars revealed at this year’s IAA Munich show

Motor shows may not be as prestigious as they once were, but that hasn’t stopped some of the biggest names in the industry using Munich this week to show off their latest wares.

Dealer group Tustain Motors changes ownership following major management buyout

Dealer group Tustain Motors has changed hands following a management buyout.

Car salesman disqualified from driving after failing to provide police specimen

A court has heard how a car salesman’s ‘very poor choice’ at not providing police with a specimen has cost him his driving licence.

Weather

Today brings strengthening winds, with cloud and rain in the north and west spreading southeast by evening, sometimes heavy with thunder, reports BBC Weather.

Tonight, rain clears to the northeast while showers linger in the north and west. The southeast sees clearer skies, but it remains breezy nationwide.