Rolls-Royce scraps goal to go all-electric by 2030

Rolls-Royce has abandoned its goal to sell only electric cars by the end of the decade.The luxury car company launched its all-electric Spectre model in 2022, saying at the time that it would end production of its vehicles with V12 internal combustion engines by the end of 2030.However, the chief executive, Chris Brownridge, who took the top job in 2023, said the company would continue to sell cars with the V12 engines as there was demand from clients.“For every client who is unsure whether our Spectre is right for them, there will be one that says ‘I love it’,” he said. “We can respond to our client demand … we build what is ordered

War in Middle East has ‘heightened the risks to the global economy’; markets in ‘panic mode’ as oil jumps and shares fall – as it happened

Canada’s central bank has warned that domestic near-term economic growth will be weaker than anticipated in January, following the war in the Middle East.The Bank of Canada has left interest rates on hold today, and warned that the conflict has increased volatility in global energy prices and financial markets, and “heightened the risks to the global economy”.The BoC’s monetary policy committee says:double quotation markSince the outbreak of the conflict in the Middle East, global oil and natural gas prices have risen sharply, and this will boost global inflation in the near-term. In addition to energy supply disruptions, transportation bottlenecks stemming from the effective closure of the Strait of Hormuz could impact the supply of other commodities, such as fertilizer.Financial conditions have tightened from accommodative levels

Never waste a fuel crisis: the Albanese government must seize the moment and start taxing gas companies | Greg Jericho

The first rule of politics is to never waste a crisis. The current fuel crisis due to the Iran war is one the Australian government needs to seize. The old political concerns about taxing gas companies are now dead. Should the Albanese government fail to act it should not be surprised if voters angry at rising petrol, gas and electricity prices begin to look elsewhere.Earlier this month, the independent senator David Pocock asked the Senate if it was true that Australians paid more in beer excise than gas companies did in the petroleum resources rent tax (PRRT)

Sky considers ending controversial UAE news joint venture

Sky is considering terminating its joint venture with the United Arab Emirates (UAE) after accusations it is involved in broadcasting propaganda and genocide denial.Sky is in talks with its partner in the UAE on Sky News Arabia over the potential termination next year of the licence to use its brand.In 2010, Sky News struck a deal with IMI – the investment vehicle controlled by Sheikh Mansour bin Zayed al-Nahyan, the vice-president of the UAE and owner of Manchester City – to launch the 24-hour Arabic language news and current affairs service licensing the Sky brand.Sky executives have become increasingly concerned over the position Sky News Arabia has taken on news in the region.Coverage of the atrocities carried out in Sudan by the UAE-backed paramilitary group, Rapid Support Forces (RSF), has been accused of whitewashing genocide

HelloFresh hit by sales slump as people lose appetite for meal kits

HelloFresh has reported a sharp decline in sales as the struggling food delivery company battles falling demand after the pandemic-era meal kit boom.The German company was forced to make 900 UK job cuts last year with the closure of a delivery site in Nuneaton, and the demand for meal kits tumbled as revenue fell by more than 11% during 2025.Sales slumped “against various uncertainties in the macroeconomic environment and a deliberate effort to target a smaller yet more profitable number of customers”, it said.HelloFresh and competitors such as Gousto and Mindful Chef experienced rapid growth during the Covid lockdowns when people were told to stay at home, and at one point it was projecting revenues of €10bn (£8.6bn) by 2025

Fuel rations and no air con: south-east Asian nations race to conserve energy

In Thailand, news anchors ditched their jackets on air as the government called on the public to reduce their use of air conditioning to save energy. In the Philippines, many government workers are now operating on a four-day week. In Vietnam, officials have urged employers to allow staff to work from home.Across south-east Asia, governments are scrambling to find ways to conserve energy and shield the public from soaring costs as war in the Middle East causes what the International Energy Agency has described as the largest supply disruption in the history of the global oil market.Asia, which relies heavily on imported energy, much of which passes through the strait of Hormuz, is acutely affected by the crisis