Month: July 2025

Tesla has posted a modest rebound in UK sales, with 7,700 new vehicles registered in June—up 3.7% on the same month last year, according to the latest data from the Society of Motor Manufacturers and Traders (SMMT).
Despite the improvement, the electric carmaker’s UK performance remains slightly down for the year. Between January and June 2025, Tesla registered 22,700 vehicles, a 1.3% year-on-year decline.
The uptick in June follows a sluggish start to the year, with Tesla blaming delays in the production of its updated Model Y at its Berlin gigafactory and buyer hesitation while awaiting the newer version.
Earlier this week, the company reported a 13% drop in global sales during Q2, citing a range of challenges, including CEO Elon Musk’s increasing involvement in politics, intensifying competition from Chinese rivals such as BYD, and a more crowded EV marketplace as traditional automakers ramp up electric production under regulatory pressure.
Yet Tesla continues to lead the UK’s zero-emission vehicle (ZEV) market, commanding a 10% share of battery electric vehicle sales so far this year, according to data from consultancy New AutoMotive. BMW and Volkswagen trail behind, each with around 8%.
More broadly, the UK’s electric vehicle market recorded strong growth in June, with battery electric vehicle (BEV) registrations up 39% to 47,300 units. That means EVs accounted for 24.8% of the 193,000 new cars registered during the month—a 6.7% year-on-year rise in overall market volume.
However, despite the encouraging figures, the BEV share still falls short of the 28% target set by the government under its zero-emission vehicle mandate. That mandate, introduced this year, requires carmakers to hit rising targets for ZEV sales or face financial penalties. The threshold climbs to 33% in 2026.
SMMT chief executive Mike Hawes reiterated calls for stronger government support, warning that current EV uptake is being driven by unsustainable levels of manufacturer discounting and sales channel incentives.
“A second consecutive month of growth for the new car market is good news, as is the positive performance of electric vehicles,” Hawes said. “But this growth is still being propped up by industry-backed support. Without government action—through measures like VAT cuts or revising luxury car tax supplements—meeting the ZEV mandate targets remains in jeopardy.”
He also urged the government to address the disparity in VAT rates between public and home EV charging, which he said was a barrier to equitable EV adoption.
The latest figures show a continued decline in internal combustion engine sales. Petrol cars accounted for 46% of new registrations in June, down from 51% a year earlier, while diesel dropped to below 6%.
Plug-in hybrids and standard hybrids now represent nearly 24% of the market, underlining the UK’s ongoing shift toward electrified mobility—even if the path to full electrification remains uneven.
Read more:
Tesla sees UK sales rebound in June as EV market accelerates

A flagship government initiative to support female entrepreneurs has come under fire from MPs for delays in delivering promised funding, with members of the women and equalities committee accusing ministers of lacking urgency and vision.
The Invest in Women Taskforce, set up under the previous government to improve access to capital for female-led businesses, has raised over £250 million. However, ministers now say the fund will not begin investing until the end of 2025 — a full year after the fundraising was announced.
Speaking during a Commons committee session, Baroness Gustafsson, the investment minister, was questioned over the delay. Liberal Democrat MP Alex Brewer said progress was moving at a “tippy-toe” pace rather than with “great big strides”, accusing the government of a lack of boldness and failing to grasp the scale of opportunity.
Brewer was joined by committee chair Sarah Owen, who voiced the group’s “frustration”, particularly at the omission of female entrepreneurs from the government’s industrial strategy.
“This omission is devastating,” Brewer said. “It demonstrates a complete lack of understanding of the structural barriers women face.”
Figures published earlier this year highlight the disparity: all-women founding teams received just 1.8 per cent of UK venture capital funding in the first half of 2024 — a decline from 2.5 per cent in 2023.
The Rose Review previously found that bridging the gender funding gap could unlock over £250 billion for the UK economy if women scaled businesses at the same rate as men. Owen called this “a massive prize” that should be central to government growth plans.
The committee opened its inquiry into female entrepreneurship in February to examine the barriers women face in starting and growing companies. Key challenges identified include limited access to funding, lack of representation in high-growth sectors, and a shortage of tailored support.
Gareth Thomas MP (Pictured), the minister responsible for entrepreneurship, acknowledged that access to finance remains the “single biggest obstacle” for women-led businesses. He said the government’s upcoming SME strategy would address this, alongside increased funding for the British Business Bank.
Entrepreneur and investor Debbie Wosskow, who co-chairs the Invest in Women Taskforce with Barclays’ head of business banking Hannah Bernard, described the UK as “a pretty terrible place” to be a female entrepreneur, citing entrenched bias in the investment landscape.
Despite the challenges, some female-led firms are breaking through. Earlier this week, ecommerce delivery startup Hived, co-founded by CEO Murvah Iqbal, announced a $42 million funding round to grow its all-electric fleet across southern England.
However, MPs say these successes are the exception, not the rule. The committee is expected to publish recommendations in the coming weeks, urging the government to accelerate the rollout of the fund and prioritise women-led enterprise in its broader economic policy.
“The talent and ambition are already there,” Owen said. “Now government must match it with decisive action.”
Read more:
‘Invest in Women’ fund criticised for slow rollout as MPs call for bolder action

The United Kingdom has been named the worst country in Europe for commuting, tied with Greece, according to a new report by cross-border e-commerce platform Ubuy. The ranking – based on commuting costs, travel times, paid leave, working hours and national happiness – places the UK bottom of a 34-country index.
The UK scored 107 out of a possible 136 points, where a lower score indicates a better commuting experience. The report highlights soaring costs, long travel times, limited paid time off and declining wellbeing as the key factors behind the UK’s poor performance.
UK commuters face the third-highest average monthly commuting cost in Europe at £67.21, only slightly behind Luxembourg and Switzerland. The study suggests that, with train fares and fuel prices rising, many British workers are spending more getting to work than some Europeans do on holidays.
The average UK commute clocks in at 40 minutes – one of the longest in Europe – and full-time workers only receive 20 days of statutory paid annual leave (excluding bank holidays), among the lowest in the ranking.
The UK also fares poorly on overall wellbeing, with a national happiness score of 6.75 out of 10, placing it well behind top-ranking nations like Finland and Estonia. The combination of high commuting costs, long working weeks, and limited rest time is creating a recipe for burnout, the report warns.
Meanwhile, Greece – also scoring 107 points – shares similar problems. With average working hours of 39.8 per week and a lower happiness score of 5.93, Greece joins the UK in the bottom spot.
Cyprus, Italy and France complete the bottom five. While known for their warmer climates, these countries scored poorly due to high parking and commuting costs, and limited flexibility around working hours and breaks.
In contrast, Estonia topped the leaderboard with a score of 64 points, thanks to low commuting costs, cheap lunches, and a solid work-life balance. Finland and Lithuania tied for second place (68 points), followed by Sweden and Romania in third (74 points), praised for their affordability and emphasis on employee wellbeing.
“This ranking should serve as a wake-up call,” said Faizan Khan, spokesperson for Ubuy. “With more people returning to the office post-pandemic, the cost, time and stress of commuting are once again central to how employees feel about work. Countries like Estonia show that affordable transport and balanced working hours are possible – the UK has some catching up to do.”
The study follows renewed discussions around hybrid work, flexible hours and transport reform in the UK. With inflation and interest rates continuing to impact household finances, advocates are urging the government to reassess commuting policies and workplace expectations to ease the burden on workers.
As commuting once again becomes a daily reality for millions of Brits, this ranking underscores the importance of not just where people work – but how they get there.
Read more:
UK revealed as Europe’s worst country for commuters in new ranking

As crowds descend on Silverstone this weekend for the sold-out British Grand Prix, the spectacle of F1 masks a much deeper economic and technological engine humming beneath the surface.
With more than 480,000 fans expected through the gates and 160,000 in attendance on race day alone, the UK’s flagship motorsport event is a major draw. But its broader significance lies in its role at the centre of a world-leading ecosystem that blends motorsport, high-performance engineering, and cutting-edge innovation.
According to a report by the Motorsport Industry Association and Grant Thornton, motorsport and engineering services contributed £16 billion to the UK economy in 2023 and employed over 50,000 people. The Formula 1 supply chain itself comprises 4,500 companies, many located in a region dubbed “Motorsport Valley”, nestled between Oxford and Cambridge.
Ten of the eleven teams set to compete in the 2025 F1 season will be based in the UK, with Cadillac F1 and Audi F1 joining next year and establishing operations on British soil.

The spin-off impact of the industry goes well beyond the track. Technologies developed for Formula 1 are now being applied in hospitals, airports, and building sites. For instance, McLaren’s performance data systems are helping Heathrow improve traffic flow, while kinetic energy recovery systems born in F1 are now reducing emissions on London buses.
Dumarey Flybrid, based near Silverstone, developed a flywheel power system for building sites—a technology originally honed for F1. Wirth Research, once focused solely on aerodynamics for race cars, now applies its expertise to energy-saving supermarket chillers.
This culture of innovation is being nurtured by organisations such as the Silverstone Technology Cluster, founded in 2017, which supports engineering, software, and advanced manufacturing businesses rooted in the motorsport sector.
Dan Keyworth, Director of Business Technology at McLaren Racing, says technology is now a major battleground in Formula 1. “For every pound we spend on the car, we spend a pound on tools, methods and technology,” he told TechRadar.
Even amid challenges—such as supply chain disruption, the shift to hybrid cars, and job cuts at firms like McLaren during Covid—Britain’s motorsport sector has remained a globally competitive force.
McLaren Racing posted £431m in revenue and £30.4m in profit in 2023, while its parent company was majority-acquired by Bahrain’s sovereign wealth fund Mumtalakat last year. The group, which includes McLaren Automotive, employs thousands in the high-performance vehicle manufacturing sector.
Luxury performance brands such as Aston Martin and Morgan—while representing just 4% of UK car production—account for 12% of its total value and support 15,000 jobs, according to the Society of Motor Manufacturers and Traders.
While Lando Norris and George Russell chase home glory this weekend, and Lewis Hamilton seeks a record 10th British Grand Prix win, the bigger victory is economic. Formula 1 remains one of the UK’s most valuable—and least visible—industrial success stories, powering far more than race day headlines.
Read more:
The real Formula 1: British Grand Prix highlights UK’s £16bn motorsport economy

Foreign students applying to study in the United States will now be required to make their social media profiles public so that American diplomats can vet their online activity for signs of “hostility” towards the US or threats to national security.
Under new guidance issued by the US State Department this week, consular officials will carry out social media checks on all applicants for F, M, and J category visas — covering academic studies, vocational training, and cultural exchange programmes.
Applicants who refuse to change their privacy settings may be treated with suspicion, with the State Department warning that refusal to cooperate will be considered a “red flag” for concealment of online activity.
According to the guidance, consular officers are instructed to look for “any indications of hostility toward the citizens, culture, government, institutions, or founding principles of the United States.” A confidential diplomatic cable, obtained separately by Politico, also advises diplomats to flag any posts suggesting support for terrorist organisations, antisemitic violence, or any other perceived threats to US national security.

The move has already sparked concern among civil liberties advocates and academic institutions. Critics warn that the policy could amount to ideological screening and may infringe on free expression and privacy, particularly for students from countries where political dissent or criticism of US foreign policy is common.
In particular, the focus on identifying “antisemitic harassment or violence” has been interpreted by some as part of a broader crackdown on students and activists who oppose Israel’s ongoing military actions in Gaza. Several US immigration agencies have faced criticism for conflating political speech about Israel with antisemitism.
The policy comes amid wider efforts by the Trump administration to overhaul immigration and tighten national security controls. In late June, the State Department temporarily suspended the issuance of new student visas while officials reviewed how to implement enhanced social media screening.
With the latest directive, visa processing has resumed — but now with what officials are calling “comprehensive and thorough vetting”. A senior State Department official praised the updated procedures, stating: “It is an expectation from American citizens that their government will make every effort to make our country safer. That’s exactly what we’re doing.”
Senator Marco Rubio, who has supported enhanced screening measures, was also cited as a key supporter of the new approach.
In addition to raising privacy concerns, some immigration lawyers and university groups say the directive could deter international students from applying to US institutions altogether. The US has already seen a decline in foreign student enrolment in recent years, a trend that may be accelerated by these new measures.
Applicants will be instructed to make platforms such as Facebook, X (formerly Twitter), Instagram, and TikTok visible to consular staff for the purposes of evaluation. There is currently no indication of how long this visibility must remain in place or whether past online content will be archived for future monitoring.
The Biden administration has not yet commented on whether it intends to revise or revoke the policy, though critics say it reflects a growing global trend of “digital border control” that blurs the lines between immigration policy and surveillance.
Read more:
New US visa rules will force foreign students to unlock social media profiles

While Wimbledon’s champions may lift the iconic silverware next weekend, they’ll also be handing a sizeable portion of their record-breaking prize money to HM Revenue & Customs (HMRC).
Analysis by accountancy firm Blick Rothenberg suggests HMRC will collect an estimated £17 million from the £53.5 million prize fund at this year’s tournament — a lucrative windfall driven by UK tax rules applying to international athletes.
The singles champions in both the men’s and women’s events will each receive £3 million – an 11% rise on 2024’s top prize – but are expected to lose up to £1.3 million to tax, with earnings above £125,140 subject to the UK’s top 45% additional rate.
Even players knocked out in the first round will earn £66,000 – enough to push them into the higher 40% tax bracket, which applies above £50,271.
Under UK law, overseas athletes are required to pay tax not only on their prize money, but also on any UK-specific sponsorship earnings and a proportion of global image rights income deemed attributable to time spent in the country.
“These tax rules make Wimbledon a major cash generator for HMRC,” said Robert Salter, tax specialist at Blick Rothenberg. “The prize fund has more than doubled in the last decade, making it a consistent and growing source of revenue.”
HMRC requires tournament organisers to withhold 20% of the core prize money at source. However, players may still be liable for higher rates depending on their total UK earnings, and must submit a UK tax return to calculate their final liability.
While British players are entitled to the standard £12,570 personal allowance – slightly reducing their tax bill – many international athletes are not, leading to a larger effective tax hit. The analysis also assumes prize money is the player’s only UK income, although endorsement earnings or public appearances could also be taxed.
Some costs, such as travel and accommodation, may be claimed as tax-deductible business expenses, as players are considered self-employed for tax purposes.
“Even players with limited sponsorship income typically end up as higher-rate taxpayers,” Salter added. “For those advancing deep into the tournament, UK tax is a significant factor.”
Wimbledon’s 2025 prize pot is the largest in its history, up 7% from last year’s £50m. Singles semi-finalists receive £775,000, while the men’s and women’s doubles champions will share £680,000.
While tax bills might take the edge off the celebrations for the winners, they are unlikely to deter the world’s top players from competing at SW19. Wimbledon remains one of the sport’s most prestigious events — and for HMRC, a fixture that delivers reliable returns.
Read more:
Wimbledon winners to pay up to £1.3m in tax as HMRC claims £17m from prize pot

Razzamataz Theatre Schools has launched a new initiative to mark its 25th anniversary, offering two aspiring entrepreneurs the chance to run their own performing arts franchise — backed by a prize worth up to £25,000.
The ‘Future Founders’ competition will provide two winners with a Razzamataz Theatre School franchise, either in the UK or the UAE, worth up to £15,000, alongside a £10,000 start-up grant to launch their business.
Designed to remove the financial barriers many face when starting a business, the competition is open to individuals aged 18 and over with a passion for the performing arts and a desire to make a difference in their communities. No prior business experience is required.
“We’re looking for people with purpose, passion, and potential,” said Denise Gosney, founder and managing director of Razzamataz. “This is about more than business ownership — it’s about creating a legacy that empowers young people and brings lasting value to local communities.”
Denise, who famously secured investment from Duncan Bannatyne on BBC’s Dragons’ Den, launched Razzamataz in 2000. Since then, the brand has grown into one of the UK’s most recognisable names in children’s performing arts education, with franchisees across the country and internationally.
The new initiative will give two driven individuals the opportunity to join the Razzamataz network, backed by 25 years of experience, comprehensive training, and expert mentorship. Participants will also pitch their ideas to a judging panel including Denise herself, singer-songwriter Ben Ofoedu, Cheryl White (CEO of Apollo Care), and Hayley Limpkin, a franchise coach and strategist.
“This is a rare opportunity for people with big dreams but limited means,” said Cheryl White. “It’s a chance to take that all-important first step into entrepreneurship with the backing of a trusted, supportive brand.”
Razzamataz’s franchise model has long supported individuals from a wide range of backgrounds — including performers, teachers, parents, and career changers — offering full training in areas such as marketing, operations, curriculum design and recruitment. Many of the brand’s most successful franchisees began with no business experience at all.
Applications for Future Founders are now open and can be submitted via the Razzamataz website. Successful applicants will receive not only financial support, but a full toolkit to launch and grow a thriving theatre school in their chosen territory.
“Our mission has always been to unlock potential,” added Denise. “Future Founders will give the winners a life-changing opportunity to inspire the next generation and build a business that fits around their lifestyle and values.”
Applications are open now:

UK entrants

UAE entrants

Franchise territories are limited and competition is expected to be fierce. Entries close later this year.
Read more:
Razzamataz offers £25k franchise opportunity to two aspiring entrepreneurs through ‘Future Founders’ initiative

The global demand for superyachts is reaching new heights — and so is their size. Once a symbol of extravagant luxury, today’s superyachts are evolving into floating palaces that offer both privacy and functionality for the ultra-wealthy.
According to industry data from Boat International, 1,203 superyachts were built or ordered globally in 2023 — an all-time record. While the overall number is expected to dip slightly in 2025 to 1,138, the yachts themselves are getting significantly larger. This year alone, 61 vessels measuring 76m or more are under construction, up from 55 last year. Meanwhile, orders for the smallest category of superyachts (24m–27m) have declined.
The appetite for more space and grandeur appears to have been accelerated by the pandemic. “After Covid, people started treating their yachts as personal safe havens,” says Barbara Armerio, co-owner of Italian luxury yacht builder Amer. “They want bigger windows, more outdoor space and better access to the sea.”
Italian lawyer and superyacht enthusiast Paola Trifirò agrees. She and her husband have owned more than a dozen superyachts over the years, often exceeding 50m in length. “Whether it’s sailing alongside whales or being greeted by fishermen in Fiji, I like to feel strong and safe at sea,” she says. She’s personally involved in the design of her yachts — with ample kitchen space for gourmet meals a non-negotiable. “If you’re used to eating well, you can’t always rely on local restaurants,” she adds.
Superyachts are typically defined as privately owned luxury vessels measuring 24m or more in length and professionally crewed. Today’s models go far beyond basic opulence. From helipads and cinemas to saunas and beauty salons, naval architects are constantly pushing the boundaries of onboard design.
Prices reflect the scale and sophistication. A smaller 36m yacht can command €36 million, while 100m-plus custom builds can exceed €295 million.
Italy remains the heart of the industry, producing over half of the world’s superyachts — with a combined production length exceeding 22km. In 2023, the country’s shipbuilders earned €8.3 billion in revenue. Italy’s dominance is supported by a vast network of local artisans and raw materials — from Tuscan marble to Ligurian craftspeople.
“We only produce a few high-end masterpieces each year,” says Armerio. “Every detail is unique.”
While American buyers still dominate the market, interest is rising from new wealth markets such as Turkey, Indonesia and Mexico. Sales to Russian clients, once significant, have plummeted due to international sanctions.
For buyers like Ms Trifirò, it’s about more than luxury — it’s about exploration and control. “My curiosity pushes me to keep cruising the oceans — and I love to be in the driver’s seat,” she says. Her long-serving crew are paid generously, with her captain having worked for the family for over 20 years.
As the market grows and expectations rise, one thing is clear: in the world of the super-rich, bigger really is better.
Read more:
Why the world’s superyachts are getting bigger than ever

Neutronic, the nootropics drink brand founded by Chris Williamson and James Smith, has raised $3.7 million in its first external funding round, valuing the company at $20 million just 18 months after its launch.
The round attracted a high-profile group of investors, including fitness entrepreneur Kayla Itsines and Grenade founder Alan Barratt, as Neutonic looks to capitalise on booming demand for mindful alternatives to traditional energy drinks and coffee.
Launched in November 2023 by podcast host Chris Williamson (Modern Wisdom) and bestselling personal trainer James Smith, Neutonic has swiftly emerged as a leading player in the functional beverage space. Backed by Genflow CEO Shan Hanif and manager Luke Betts, the founding team positioned the product as a brain-boosting, crash-free drink that speaks to the growing sober-curious, health-conscious market.
Formulated with science-backed ingredients such as Cognizin, Rhodiola rosea and Panax ginseng, Neutonic targets mental clarity, sustained energy, and improved focus. The brand’s transparent ingredient sourcing and evidence-based marketing have resonated strongly with consumers seeking cleaner performance solutions.
Since launch, Neutonic has sold over three million cans of its signature Productivity Drink, topped Amazon’s energy drink and grocery charts, and achieved more than $10 million in revenue. The brand now has its sights set on international scale.
“This investment provides the momentum needed to bring our ambitions for Neutonic to life,” said James Smith. “We’ve had a clear vision from the outset and closing this funding round marks a significant milestone in reaching the next phase of our growth. We’re excited to expand into new markets and strengthen our presence in retail.”
Alongside Kayla Itsines and Alan Barratt, the round also attracted investment from creator economy heavyweights Codie Sanchez, Dan Martell, Mike Thurston, Gym King founder Jay Parker, and JDI Investments.
“After 30 years in business, I’d like to think I can spot great founders when I see them,” said Grenade founder Alan Barratt. “I’ve known Chris and James since 2019, and we’ve always shared a passion for health and fitness, entrepreneurship, and developing great products that consumers can trust. I’m so proud to have had the opportunity to invest in Neutonic.”
Neutonic plans to use the $3.7 million to scale operations, expand its workforce, and bolster retail and distribution capabilities in the UK and US. The company also plans to appoint regional leads to support international launches and cement its status as a global leader in nootropic drinks.
New product development is a key part of Neutonic’s 2025 strategy, with additional powder and can flavours due to hit shelves this summer.
With strong early traction, a cult following, and heavyweight backers, Neutonic is positioning itself as the go-to brand for consumers seeking productivity without compromise.
Read more:
Leading creators Chris Williamson and James Smith raise $3.7M for Neutonic at $20M valuation