London Mail
  • Home
  • World
  • News
  • Opinion
  • Business
  • Tech
  • Science
  • Sports
  • Lifestyle
  • Health
  • Motering/Cars
  • More
    • Entertainment
    • Travel
    • Crypto
    • Food
    • Home Improvment
      • Real Estate
    • Press Release
No Result
View All Result
  • Home
  • World
  • News
  • Opinion
  • Business
  • Tech
  • Science
  • Sports
  • Lifestyle
  • Health
  • Motering/Cars
  • More
    • Entertainment
    • Travel
    • Crypto
    • Food
    • Home Improvment
      • Real Estate
    • Press Release
No Result
View All Result
London Mail
No Result
View All Result
Home Business

Volvo ditches electric car plans

by London Mail
September 4, 2024
in Business
Reading Time: 3 mins read
0
SHARES
Share on FacebookShare on Twitter

Thanks for joining me. Labour is poised to raise the state pension by more than £400 a year after Rachel Reeves was heavily criticised for means testing the winter fuel allowance.

The Treasury’s internal working calculations reportedly show that the full state pension could increase as a result of April’s triple lock. Changes would take the full state pension to around £12,000 in 2025/26, after the £900 increase in 2023. 

It comes after the Chancellor was accused of using pensions as a cash cow when she announced plans to limit the fuel allowance to those receiving pension credits. 

Pre-2016 retirees who may be eligible for the secondary state pension under the old system are also expected to see a £300 per year increase to £9,000 in 2025/26, according to internal working calculations seen by the BBC.

The final decision on pension increases will be made by Liz Kendall, Pensions Minister, ahead of October’s budget.

Rachel Reeves on Monday reaffirmed the government’s backing of the triple lock until the end of this Parliament.

A Treasury spokesman said: “We’re committed to protecting the Triple Lock which will boost over 12 million pensioners’ incomes by hundreds of pounds next year.

5 things to start your day 

1) Volkswagen electric car brand would be ‘wiped out’ by EU tariffs | Taxes to protect European motor industry have ‘opposite effect’, warns Cupra boss

2) Reeves loses pick for investment minister before he even starts | Benjamin Wegg-Prosser leaves Government scrambling to find replacement before key summit

3) Ed Miliband adds £150 to household bills with wind turbine building spree | Profits from record-breaking green expansion will go to foreign energy firms

4) The war on pensioners is becoming more vindictive by the day | Labour’s assault on society’s most vulnerable is as illogical as it is unpleasant

5) Ambrose Evans-Pritchard: Let’s be honest: shale fracking has saved the West | Without America’s wildcat drillers, Europe would be facing an industrial death spiral

What happened overnight 

 

On Wall Street, all three major indexes suffered their biggest daily declines since Aug 5.

The Dow Jones Industrial Average fell 1.5pc, to 40,936.93; the S&P 500 lost 2.1pc, to 5,528.93; and the Nasdaq Composite lost 3.3pc, to 17,136.30.

MSCI’s gauge of stocks across the globe fell 1.63pc, also showing its biggest one-day drop since Aug 5.

In the bond market, the yield on benchmark US 10-year notes fell to 3.85pc, from 3.91pc late on Friday.

Stocks in Asia slumped the most since the Aug. 5 rout, tracking a selloff in US peers driven by a plunge in Nvidia.

Shares of Asian chipmakers tumbled amid renewed concerns over the artificial intelligence frenzy, bringing a regional equity benchmark down more than 2pc. Chip giants Taiwan Semiconductor Manufacturing Co. and SK Hynix Inc. fell at least 4pc each. US futures also slid in Asian trading after the S&P 500 shed more than 2pc.    

The broad risk-off mood came as a closely watched US manufacturing gauge again missed forecasts, shifting investor focus toward the odds of an economic slowdown in the world’s largest economy. That added to an already-weak sentiment in Asia, where a run of disappointing Chinese data had been hurting risk assets.  

Treasury yields steadied after a tumble Tuesday. A dollar gauge snapped a five-day winning streak, its longest since April. The yen edged higher. Oil pushed lower after a decline of almost 5pc on Tuesday amid weak demand and oversupply concerns. 

Elsewhere in Asia, the Australian dollar held on to losses as data showed Australia’s economic weakness persisted in the three months through June.

Chinese stocks fell after a private survey showed services activity expanded less than expected, the latest sign of the economy’s fragility.  

Source link

Related Posts

August 2025 shop closures – full list revealed
Business

August 2025 shop closures – full list revealed

August 5, 2025
Lenders do not owe millions compensation over car finance, Supreme Court rules
Business

Lenders do not owe millions compensation over car finance, Supreme Court rules

August 2, 2025
The Government needs to Wise up over stock market decline – and soon
Business

The Government needs to Wise up over stock market decline – and soon

July 30, 2025
Next Post
Vivek Ramaswamy and CNN’s Kate Bolduan engage in vicious exchange on Trump, Harris policy flip-flops: ‘Is someone allowed to evolve?’

Vivek Ramaswamy and CNN's Kate Bolduan engage in vicious exchange on Trump, Harris policy flip-flops: 'Is someone allowed to evolve?'

Cristiano Ronaldo becomes first player in football history to score 900 GOALS after cool finish for Portugal against Croatia

Cristiano Ronaldo becomes first player in football history to score 900 GOALS after cool finish for Portugal against Croatia

Brixton Market put up for sale and could fetch at least £80 million

Brixton Market put up for sale and could fetch at least £80 million

Recommended

Emma vs Simba: Which hybrid mattress is best?

Emma vs Simba: Which hybrid mattress is best?

4 months ago
Eight die as hot-air balloon bursts into flames and plunges to the ground in Brazil – after 14 jumped to safety before craft burned completely

Eight die as hot-air balloon bursts into flames and plunges to the ground in Brazil – after 14 jumped to safety before craft burned completely

2 months ago
Two of the most iconic Harry Potter films are now streaming on ITVX for free | Films | Entertainment

Two of the most iconic Harry Potter films are now streaming on ITVX for free | Films | Entertainment

1 year ago
Brutal moment Justin Trudeau is heckled on the slopes during ski holiday as woman tells him to ‘get the f**k out of BC’

Brutal moment Justin Trudeau is heckled on the slopes during ski holiday as woman tells him to ‘get the f**k out of BC’

7 months ago

Categories

  • Business
  • Crypto
  • Entertainment
  • Food
  • Health
  • Home Improvment
  • Lifestyle
  • Motering/Cars
  • News
  • Opinion
  • Press Release
  • Real Estate
  • Science
  • Sports
  • Tech
  • Travel
  • World
No Result
View All Result

Highlights

Grease: The Immersive Movie Musical is a fun but frantic summer night out | Theatre | Entertainment

Private chef to the Premier League reveals exactly what the players eat to get them ‘match fit’

Boss of world’s richest travel firm suggests lotteries in popular destinations to combat overtourism

Master expert’s ‘perfect’ homemade chilli by adding one cheap ingredient

Aldi worker shares clever way to get up to 75 percent off its supermarket food

Aussie sporting legend is unrecognisable after shocking accident saw him hospitalised with serious injuries

London Mail

London Mail | Stay Informed, Stay Inspired ©2025, All rights Reserved

Navigate Site

  • Home
  • About
  • Advertise
  • Contact

Follow Us

No Result
View All Result
  • Home
  • Tech
  • News
  • Business
  • Science
  • Health
  • Sports
  • Lifestyle
  • Travel
  • Opinion

London Mail | Stay Informed, Stay Inspired ©2025, All rights Reserved