UK probably needs large new factory to meet target of 1.3m cars a year, say industry boss

A target of building 1.3m cars a year is likely to be missed unless a large new UK factory is built in the coming years, an industry group has said, as Keir Starmer prepares to hold trade talks in China.Labour aims to have 1.3m vehicles rolling off production lines by 2035, a central ambition of its industrial strategy. That would nearly double the 764,715 cars and vans made in 2025, according to new data from the Society of Motor Manufacturers and Traders (SMMT)

Federal Reserve holds interest rates as Trump piles on pressure

The US Federal Reserve left interest rates unchanged after its first rate-setting meeting of the year on Wednesday, resisting enormous pressure from the White House to lower rates.A majority of members in the Fed’s federal open market committee (FOMC) voted to pause interest rate cuts after slashing rates three times in the fall. Rates currently sit at a range of 3.5% to 3.75%

Meta wows Wall Street despite spending billions on AI and facing social media addiction trial

As Meta spends billions on artificial intelligence data centers and its CEO prepares to testify in a landmark social media trial, the company is earning a pretty penny.Meta reported strong financial results on Wednesday, beating Wall Street expectations of $58.59bn with $59.89bn in revenue for the fourth quarter of 2025. It reported earnings per share (EPS) of $8

Tesla discontinues Model X and S vehicles as Elon Musk pivots to robotics

In the clearest sign yet that Tesla is pivoting away from its electric car business, CEO Elon Musk announced on Wednesday’s investor call that the company would discontinue production of its Model X SUV and Model S full-size sedan.“It’s time to basically bring the Model S and X programs to an end,” Musk said. “We expect to wind down S and X production next quarter.”The model S and X factory in Fremont, California would be converted to produce Tesla’s upcoming Optimus robot, Musk said.Tesla’s most recent quarterly earnings report showed slumping vehicle sales and declining revenue as the Musk pins the company’s futures on AI and robotics

ICE agents expected to be deployed for Super Bowl in California, officials say

US Customs and Immigration Enforcement (ICE) agents are expected to conduct immigration enforcement operations during next month’s Super Bowl game in Santa Clara, California.Local officials confirmed to media that ICE is expected to deploy for the game between the Seattle Seahawks and the New England Patriots. ICE’s Homeland Security Investigations team has long worked the Super Bowl and other major sporting events, largely focused on preventing human trafficking and stopping the sale of counterfeit goods, but immigration operations would be unusual.“We have heard from the administration that they intend to have ICE at the Super Bowl. I don’t know how much of that is rhetoric,” Matt Mahan, the San Jose mayor, told KTVU

Patrick Reed quits rebel LIV Golf tour in latest blow to Saudi-backed breakaway

Patrick Reed has delivered the ­latest high-profile blow to LIV Golf by announcing he will leave the circuit before the start of its 2026 season.The 35-year-old American former Masters champion joins Brooks Koepka by instead focusing on the PGA Tour. Reed will spend his immediate time on the DP World Tour, where he won the Dubai Desert Classic on Sunday. Reed tees up in Bahrain from Thursday.It would now be only natural for LIV to be anxious about talent drain which once ran in their favour