Japanese car maker Nissan has announced plans to cut roughly 10% of its European workforce, with the precise impact on UK operations unclear.
Tesla's stock plunged 13.5% after its Q2 earnings missed analyst expectations, revealing lower-than-anticipated profitability and negative free cash flow due to heavy investments in Robotaxi and Optimus, impacting the broader "Magnificent Seven" tech stocks.
Online sales in Great Britain reached a five-year high in June, rising 1% month-on-month, driven by a heatwave boosting demand for air conditioners and outdoor products, and World Cup spending, according to the ONS.
Andy Burnham's proposed 20% business rate reduction for pubs, clubs, and music venues, costing £100m, aims to support high streets. While welcomed as a gesture, industry figures like pub owner Dan Smith and consultant Colm O'Leary view the £1,000 average saving as insufficient compared to other rising costs like VAT and staffing.
UK consumer confidence rose significantly in July, driven by the prospect of Andy Burnham becoming PM, England's World Cup run, and hopes for Middle East peace. Despite this, personal finance outlook remained cautious, and rising oil prices from renewed US-Iran conflict threaten inflation forecasts.
Google parent Alphabet and Tesla shares plunged after both reported negative free cash flow and announced billions more in AI and unspecified investments, raising investor skepticism about returns on high spending.
England's pubs, clubs, and live music venues will receive a 20% business rates discount as part of a £100m aid package from Prime Minister Burnham, aimed at supporting high streets and easing living costs, though some industry leaders and opposition question its scope and funding.
