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China’s electric vehicle (EV) manufacturers are rapidly expanding into Europe, offering cheaper, faster-to-market, and technologically advanced cars – a combination that threatens to disrupt the continent’s traditional automotive giants.
Brands such as Zeekr, a premium EV maker owned by Geely, are already selling in several European countries and plan to enter the UK within two years. Zeekr’s highly automated plants, vertical integration, and proprietary battery and software technology give it an edge over legacy carmakers hampered by complex supply chains, internal silos and slower development cycles.
“All new cars sold in the UK and EU must be zero-emission by 2035, and Europe’s car industry is under huge pressure to adapt,” says Professor Peter Wells, director of the Centre for Automotive Industry Research at Cardiff University. “Chinese firms are nimble, fast and technologically advanced – especially in software, where European firms have struggled.”
Last year, Europe registered almost two million fully electric cars, but price, charging infrastructure and consumer hesitation remain challenges. While European manufacturers such as Jaguar Land Rover, Nissan, Volkswagen, and Renault are retooling for an electric future, analysts warn they are a decade behind China in both production capacity and supply chain control for critical battery minerals.
Andy Palmer, former Aston Martin CEO and ex-Nissan executive, says tariffs are a short-term fix that could leave Europe further behind: “Tariffs insulate the baby, so the baby never learns to walk. The price of entry for Chinese brands should be localisation – build here, employ here, invest here.”
He points to Nissan’s Sunderland plant as proof that local manufacturing can create strong automotive ecosystems. “The UK has clout as Europe’s second-largest EV market. We should use it,” Palmer argues.
Chinese EV makers have focused on compact, efficient, and affordable cars – such as Nio’s soon-to-launch Firefly – while European brands have pushed larger, more expensive SUVs. Wells says this mismatch risks ceding the mass market to Chinese rivals.
The EU has imposed tariffs of up to 45% on some Chinese EV imports, but member states are divided: Germany fears retaliation against its exports to China, while France and Italy back stronger trade barriers. Chinese firms are already exploring tariff workarounds, including shifting production to Turkey.
Analysts say Europe must prioritise innovation, affordability and strategic alliances over trade barriers. Al Bedwell at GlobalData believes Chinese brands will take around 15% of Europe’s all-electric market by the mid-2030s – significant, but “not an existential threat”.
“Europe can’t compete on cost, but it has brand recognition, dealer networks and after-sales service that take time to build,” Bedwell says. “Some Chinese brands have entered markets without understanding local customer preferences.”
Partnerships are already emerging – Stellantis has invested in Leapmotor, while BMW and Audi have signed joint projects with Chinese firms.
Felipe Munoz, an automotive analyst in Turin, says Europe’s high costs and complex regulations are a handicap: “These rules were designed when China wasn’t a player. We need lower taxes, less red tape and more R&D incentives.”
Palmer remains cautiously optimistic: “We have a once-in-a-generation chance to reset Europe’s automotive industry. If we act wisely – and quickly – Europe can still lead in EVs. If we rely on tariffs and delay tough decisions, we’ll face terminal decline.”
Read more:
How Europe’s car industry can survive the Chinese EV challenge

Deliveroo has reported a £19.2 million loss for the first half of 2025, despite an 8% rise in revenues to £1 billion, as costs linked to its £2.9 billion takeover by US rival DoorDash weighed on its results.
The loss marks a reversal from the £1.3 million profit recorded in the same period last year, which was the London-listed food delivery company’s first-ever profit. Deliveroo said the downturn was driven by “higher exceptional items” tied to the acquisition, which was announced in May and is expected to complete later this year.
Excluding one-off expenses, Deliveroo reported a tax-adjusted profit of £31.8 million for the six months to 30 June. The company highlighted risks to its operations including cybersecurity threats, increasing competition, changing market conditions and regulatory challenges.
Once the DoorDash deal completes, Deliveroo will delist from the London Stock Exchange – another blow for the UK market – and operate under the San Francisco-based group’s ownership, pending final regulatory approvals.
Chief executive and founder Will Shu said the business continued to improve customer engagement, with “order frequency and retention” rising across all cohorts.
“Today, both growth and profitability are accelerating,” Shu said. “I’m excited for what the partnership with DoorDash can bring in the future. They will be an excellent partner for everyone at the company, as well as for our consumers, merchant partners and riders.”
Rumours of the takeover, which began circulating in April, have lifted Deliveroo’s share price from 123.4p at the start of that month to 177.3p today, giving the company a market value of £2.65 billion.
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Deliveroo posts £19m loss despite £1bn revenue as Doordash takeover costs bite

Former Dragons’ Den star Julie Meyer has been stripped of her MBE after being found in contempt of court over a long-running dispute involving almost £200,000 in unpaid legal fees.
The 58-year-old US-born venture capitalist, awarded the honour in 2011 for services to entrepreneurship, was handed a six-month suspended prison sentence after repeatedly failing to submit documents or attend hearings.
According to the Cabinet Office’s latest list of forfeitures since August 2023, Meyer lost the honour for “bringing the honours system into disrepute”. She is one of only two women on the list, alongside former Post Office chief executive Paula Vennells, who forfeited her CBE over the Horizon IT scandal.
Meyer, who became one of two new Dragons on an online version of the BBC Two show in 2009 and served as an enterprise adviser to then–Prime Minister David Cameron in 2010, became embroiled in a legal battle with Farrers, the law firm that once represented Queen Elizabeth II.
The dispute began in 2022, when a warrant was issued for her arrest after she failed to attend a High Court hearing on 14 February. Meyer argued she could not travel from Switzerland due to conjunctivitis and her unvaccinated status against Covid-19, but a judge ruled her medical evidence was insufficient.
Farrers claimed she owed partner Julian Pike £197,000 for work carried out in a Maltese court case. Meyer disputed the bill, claiming the services were worth only £50,000.
Mr Justice Kerr described Meyer as “a selfish and untrustworthy person”, adding: “I am satisfied there is every prospect that the defendant will continue to flout orders of the court unless coerced into obeying them.”
Once celebrated for her role in championing entrepreneurship, Meyer’s reputation has been tarnished by the legal dispute and subsequent contempt ruling. The loss of her MBE marks a significant fall from grace for the entrepreneur, who had been seen as a rising figure in UK business circles during the early 2010s.
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Former Dragons’ Den star Julie Meyer stripped of MBE after court contempt ruling

Angela Rayner is pressing ahead with plans to raise the minimum wage for 18–20-year-olds to match the adult rate, despite warnings from business groups that the move risks pricing young people out of work.
The Deputy Prime Minister has asked the Low Pay Commission to draw up proposals to scrap the £2-per-hour gap between the current minimum wage for 18–20-year-olds (£10) and those aged 21 and over (£12.21). The policy, backed by trade unions, forms part of Labour’s election pledge to “make low pay a thing of the past” and remove “discriminatory age bands”.
The move is also seen as part of Labour’s strategy to court younger voters amid polling gains by Reform UK. Last month, Rayner also set out plans to lower the voting age to 16 before the next general election.
Industry leaders say the policy risks accelerating youth job losses in sectors already hit by rising employment taxes. Kate Nicholls, chair of UKHospitality, said hospitality has shed 84,000 jobs in the past six months, partly due to the £25bn employer National Insurance rise introduced last autumn.
“We understand the Government’s objective of fair pay, but you can only have fair pay if you have a job that actually pays,” Nicholls said. “Now is not the time to make big jumps in employment costs.”
Pubs, hotels and restaurants – key employers of young people – have been “hammered” by the tax changes, she added, warning that the new wage rise could destroy even more entry-level jobs.
Jane Gratton, deputy director of policy at the British Chambers of Commerce, said almost one million young people are currently not in employment, education or training. “Employers want to help, but the rising cost of employment makes that very difficult for many firms,” she said. “If wages rise too fast in this age group, it could mean fewer opportunities.”
The business backlash has been intensified by Chancellor Rachel Reeves’ decision to lower the threshold for employer National Insurance contributions to £5,000, pulling more part-time workers into the scope of the tax.
Nicholls said the change is disproportionately affecting youth employment and part-time work. “All the warning signals on the labour market are flashing red. Now is the time for caution, not going too far,” she said.
Despite business concerns, new YouGov polling shows strong public support for equalising the minimum wage for over-18s. Two-thirds (67%) of respondents believe 18–20-year-olds should receive the same minimum wage as those aged 21 and above. Only 22% support a lower rate, while 11% are unsure.
Rayner insists the policy will boost disposable incomes and growth. “This remit is the next milestone in our plan to get more money in working people’s pockets, raise living standards in every part of the UK, and get our economy growing,” she said.
The Low Pay Commission is now tasked with setting out a path to align the youth and adult minimum wage rates. If implemented, the change would hand a pay rise to hundreds of thousands of young workers – but business groups warn it could also reshape the youth employment market.
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Rayner defends plan to raise 18-year-old minimum wage despite business backlash

The Bank of England has cut interest rates to 4%, their lowest level in more than two years, following a split vote among policymakers that reflects deep uncertainty over the UK’s economic outlook.
In a historic two-round vote, the Bank’s Monetary Policy Committee (MPC) voted 5-4 in favour of a 0.25 percentage point reduction, lowering the base rate from 4.25%. It marks the fifth quarter-point cut in the past 12 months and the first time since the MPC’s formation in 1998 that two ballots were needed to reach a decision.
The initial vote was evenly divided, with four members favouring a cut, four preferring to hold, and one voting for a larger 0.5-point cut. In the second round, five members backed the quarter-point reduction that ultimately prevailed.
The cut, announced at midday on Thursday, comes despite a rise in inflation to 3.6% in June, and represents a carefully balanced move to support a weakening economy under pressure from tax hikes, falling consumer demand, and rising unemployment.
“This was a finely balanced decision,” said Governor Andrew Bailey. “Future rate cuts will need to be made gradually and carefully.”
The Bank’s decision comes as GDP contracted in April and May, unemployment hit a four-year high of 4.7%, and payrolled staff numbers fell for five consecutive months, partly due to April’s £25 billion increase in employers’ National Insurance contributions.
While inflation is expected to climb further to 4% in September, the MPC majority judged that the economic headwinds now justify more accommodative policy.
“There has been sufficient progress on inflation, but we’re also seeing higher layoffs and sluggish consumer spending,” the Bank said.
Alan Taylor, an external MPC member who initially supported a larger rate cut, changed his vote in the second round, warning of an “increased recession risk” if monetary policy remained too tight.
However, Huw Pill, the Bank’s chief economist, and three other members voted to hold rates, citing concern over wage-price spirals and arguing that more data was needed to confirm a sustained downward trend in inflation.
The Bank now expects inflation to remain above its 2% target until well into 2026, driven by:

Higher food and energy prices
A 6.7% rise in the minimum wage
Secondary inflation from April’s NICs hike

It also warned that September’s inflation rate, which determines uprating of benefits and the state pension, would likely be higher — fuelling speculation about increased fiscal pressure heading into the autumn.
The Bank added that the inflationary backdrop may be further complicated by President Trump’s incoming tariffs, which could shave 0.2% off UK GDP over three years. However, re-routed goods from other countries may exert downward pressure on UK prices.
Despite the rate cut, the Bank only made a modest upgrade to its growth forecast, projecting GDP to rise 1.25% in 2025, 1.25% in 2026, and 1.5% in 2027.
Unemployment is now forecast to peak at 4.9%, up from 4.7% currently — reflecting rising job losses across multiple sectors.
“The economy remains in a fragile state, and the outlook is highly uncertain,” the Bank said. “Monetary policy is not on a pre-set path.”
The rate cut offers some relief for mortgage holders, SMEs, and retail borrowers, especially after two years of rapidly rising borrowing costs. However, persistent inflation and rising wage bills continue to weigh on employer confidence, particularly in labour-intensive sectors.
Markets now expect the Bank to make at least two further cuts by mid-2026, with the base rate potentially reaching 3.5%.
Economists warn that while the easing in rates will help offset some of the drag from fiscal tightening — including National Insurance and corporation tax increases — businesses should prepare for continued volatility, both at home and abroad.
Read more:
Bank of England cuts interest rates to 4% in historic two-round vote amid economic slowdown

President Donald Trump has signed a historic executive order that will allow cryptocurrencies and alternative assetsinto US 401(k) retirement plans for the first time — a move expected to fundamentally reshape long-term wealth building strategies and ripple through global capital markets.
The announcement unlocks access to the $9 trillion US retirement market, historically limited to equities and bonds, by revising investment rules and encouraging retirement plan providers to include digital assets and private equity among investment options.
“This is a defining moment not just for crypto, but for the entire future of finance,” said Nigel Green, CEO of international wealth and asset management firm deVere Group.
“The world’s largest economy is saying, in effect, that digital assets now belong in the core of long-term wealth strategies. This has global implications.”
The executive order instructs US regulators to reassess and modernise longstanding restrictions on 401(k) investment options. Until now, these employer-sponsored plans — used by over 90 million Americans — have been unable to offer crypto exposure, despite mounting investor interest and the surging value of digital currencies in 2025.
“This order breaks the psychological and regulatory barrier that’s kept crypto in a sandbox. Now it’s mainstage,” said Green.
Analysts believe that even a modest allocation of 1–2% to crypto within retirement portfolios could trigger hundreds of billions of dollars in inflows, further accelerating the institutionalisation of digital assets.
The executive order also establishes the American Manufacturing and Investment Programme, which aims to promote US-based blockchain innovation and capital formation, with a focus on digital asset infrastructure.
While the US leads the way, other jurisdictions may now feel pressure to follow suit. In Europe, regulators are reportedly under growing pressure to revisit pension directives and modernise retirement frameworks. In Asia, where crypto adoption is already advanced, investors and governments are watching the US move closely.
“The floodgates are opening,” said Green. “Retirement savings are among the most conservative asset pools. If crypto can earn its place there, it can earn its place anywhere.”
The policy shift comes during a record-breaking year for digital currencies, with Bitcoin hitting all-time highs, fuelled by fresh sovereign interest, institutional demand, and favourable regulatory momentum.
Meanwhile, large firms — including pension managers and sovereign wealth funds — are increasingly seeking inflation-hedged, high-growth assets as traditional portfolios struggle with volatility and geopolitical uncertainty.
“Investors want exposure to the future. They don’t want to miss out,” Green added. “This move allows them to build that exposure inside their most important financial vehicles — with guidance and safeguards.”
While Trump’s order follows years of lobbying by digital asset firms, insiders suggest that the inclusion of crypto specifically was the tipping point that helped push the reforms through.
The announcement signals a deeper political embrace of crypto — a sharp contrast to earlier US policy under successive administrations which often focused on restrictive enforcement and regulation.
Trump has previously expressed both admiration and frustration with the crypto industry, but this move places the US president at the forefront of global crypto integration.
While the executive order opens new investment frontiers, it also brings new responsibilities for plan providers, advisors, and investors. Crypto markets remain volatile, and investment risk must be carefully managed — particularly in retirement portfolios where stability is prized.
However, with proper diversification, education, and professional oversight, industry leaders argue that the long-term benefits outweigh the risks.
“Crypto is no longer just an option for speculative traders or hedge funds,” said Green. “It’s becoming part of the financial DNA of today’s world.”
Read more:
Trump opens $9tn US retirement market to crypto in landmark executive order

The UK government is moving to ban non-disclosure agreements (NDAs) that prevent employees from speaking out about alleged workplace harassment or discrimination, under newly published amendments to the Employment Rights Bill (ERB).
The change, announced on 7 July 2025, means that any clause in a contract or settlement agreement that attempts to silence an employee from disclosing or alleging harassment or discrimination will be legally void, unless the agreement falls under a narrow, as-yet undefined, exception.
The amendment marks a major shift in employment law, with serious implications for HR teams, legal advisers and employers who routinely rely on confidentiality clauses as part of workplace settlement agreements.
“When your life, as well as your family’s, has literally been ruined it results in a substantial claim,” said William Clift, Senior Associate at Winckworth Sherwood LLP, writing on the legal update.
The proposed ban will apply to any employment agreement — including employment contracts, settlement agreements, or exit packages — that seeks to restrict workers from making:
• Allegations of harassment or discrimination, or
• Disclosures of information about harassment, discrimination, or the employer’s response to it.
The provisions will apply even in cases where no specific details of the alleged conduct are provided. For example, a vague statement such as “I was harassed by my manager” may still be protected under the new rules.
Significantly, the ban applies to:
• All protected characteristics under the Equality Act, including age, sex, race, disability, religion, sexual orientation and gender reassignment.
• Allegations involving fellow employees, including disclosures about the treatment of colleagues.
• Employer responses to such allegations — for example, failure to investigate, retaliation, or attempts to silence a complainant.
Notably, victimisation claims and failures to make reasonable adjustments are not explicitly covered, and it remains unclear whether this is an oversight or intentional.
It’s also uncertain whether an employer’s offer of a settlement agreement itself could be viewed as part of the “response” to discrimination — and thus made subject to the disclosure protections.
The legislation leaves the door open for certain NDAs to remain valid if they meet the definition of an “excepted agreement”. However, the Secretary of State has not yet defined what these will include. Until secondary regulations clarify the criteria, all NDAs that restrict disclosures about harassment or discrimination risk being unenforceable.
These proposals build on a growing legislative and regulatory crackdown on NDAs used to conceal wrongdoing. Additional measures taking effect later this year include:
• 1 August 2025: NDAs that silence victims of misconduct in higher education will be banned.
• 1 October 2025: NDAs preventing disclosure of criminal conduct to legal or law enforcement bodies will also be rendered void.
Currently, many employers include ‘carve-outs’ in NDAs that allow workers to report criminal offences or cooperate with investigations. These remain essential, as failing to do so could breach Solicitors Regulation Authority (SRA) guidelines and render clauses invalid under whistleblowing protections.
However, the new ERB amendments go further by rendering void any NDA that prevents workers from repeating allegations of harassment or discrimination to anyone, regardless of whether a financial settlement has been agreed.
This presents a challenge for employers who rely on NDAs to resolve disputes quickly and discreetly. Some may become less inclined to offer settlement agreements, particularly in cases where reputational risk is high, and employees may prefer to resolve matters privately.
As Clift notes, “if some employers become unwilling to agree a settlement as a result of this ban, employees’ only recourse may be to bring an Employment Tribunal claim — a process that is lengthy, public, and costly.”
While employers may see increased litigation risk, many in the legal and HR community view the change as an overdue rebalancing of power in the workplace, following years of high-profile cases in which NDAs were misused to silence victims of harassment and discrimination.
These reforms align the UK more closely with growing international efforts to protect whistleblowers, victims of misconduct, and promote transparency in employment practices.
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NDAs banning harassment and discrimination disclosures to be void under new UK workplace reforms

Visa is in advanced talks to relocate its European headquarters to London’s Canary Wharf, in a vote of confidence for the Docklands business district following a wave of recent tenant departures.
According to people familiar with the matter, the global payments giant is preparing to take over approximately 170,000 sq ft of space at One Canada Square — the iconic 50-storey tower previously occupied by credit ratings agency Moody’s.
Moody’s announced last year that it would vacate Canary Wharf in favour of a new office near St Paul’s Cathedral when its lease expires in 2025.
Visa’s potential move comes ahead of the expiry of its current lease at 1 Sheldon Square in Paddington, which runs until 2028, and would bring a high-profile, blue-chip occupier into the heart of Canary Wharf at a time when other major firms are relocating.
If finalised, the deal would deliver a much-needed boost to Canary Wharf Group, which has been actively repositioning the estate to diversify beyond traditional financial services tenants.
Top-tier occupants including HSBC, State Street and Clifford Chance are preparing to move their head offices to the City of London, while Deutsche Bank is also reportedly reviewing its long-term presence in the Docklands.
According to data from CoStar Group, vacancy rates in the Canary Wharf core office market stood at nearly 18% in Q2 2025 — significantly higher than the 11% average across Greater London.
Both Canary Wharf and the Square Mile have been investing heavily in amenities and placemaking, introducing everything from free bike maintenance and gyms to Michelin-starred restaurants, cinemas and wellness centres, in a bid to attract new tenants and retain existing ones.
Despite challenges, Canary Wharf has retained key financial anchors. Barclays and Morgan Stanley have committed to staying in the area, while Citigroup and JPMorgan Chase each own their towers outright. Citi confirmed a major refurbishment of its UK HQ in 2022.
The area is also seeing renewed interest from fintech and tech-driven firms, including Zopa and Revolut, both of which have signed new leases recently.
Visa’s entry would mark a strategic win for Canary Wharf Group, jointly owned by Brookfield and the Qatar Investment Authority, and signal renewed momentum in repositioning the estate as a mixed-use hub of business, leisure and residential.
Once seen as a monolithic financial district, Canary Wharf has undergone a significant transformation. In recent years, it has added thousands of residential units, hotels, and retail offerings, supported by enhanced connectivity via the Elizabeth line, which has dramatically cut journey times into central London and Heathrow.
One Canada Square, the iconic tower at the heart of the development, now hosts a blend of financial institutions, start-ups, co-working spaces, and educational tenants such as University College London. Asset manager Brookfield is also based in the building.
Should the deal be confirmed, Visa would become one of the most prominent occupiers in the building, reinforcing Canary Wharf’s appeal to global corporates seeking modern space and long-term flexibility.
Visa, Moody’s, and Canary Wharf Group all declined to comment on the ongoing discussions.
Read more:
Visa in talks to move European HQ to Canary Wharf in boost for Docklands

President Donald Trump is set to announce a $100 billion investment pledge from Apple Inc. to expand its manufacturing footprint in the United States, in what the White House is calling a major acceleration of the tech giant’s domestic production strategy.
The investment, which significantly expands on Apple’s earlier plans, is expected to be part of a new initiative called the American Manufacturing Program, designed to encourage high-tech production and bring more of Apple’s supply chain back to U.S. soil.
According to a statement from the White House, Apple has committed to investing $600 billion in the U.S. over the next four years, with this latest announcement marking a clear shift in its global operations — likely aimed at appeasing the president and avoiding punitive trade measures.
The move follows rising tensions between Apple and the Trump administration, particularly over Apple’s expansion in India, where the company has been shifting significant portions of iPhone production.
In May, Mr Trump threatened to impose a 25% tariff on phones manufactured outside the U.S., targeting Apple and other electronics companies. The announcement of new domestic investment appears to be part of a broader strategy to sidestep those tariffs while aligning with the administration’s focus on economic nationalism.
“This is a significant acceleration of Apple’s plan for more production in the United States,” the White House said in a statement. “The president has made it clear — American products should be made in America.”
Earlier this year, Apple said it planned to invest $500 billion and hire 20,000 new employees in the U.S. over four years, including the development of a new Texas facility to produce hardware for its artificial intelligence (AI) division.
While the company already supports more than 450,000 jobs across the U.S. through its network of suppliers and partners, President Trump has repeatedly expressed frustration that Apple continues to invest heavily in overseas manufacturing hubs.
“I told Tim Cook, ‘I don’t want you building in India,’” Mr Trump said during a visit to Qatar in May.
“I hear they’re building all over India now. I don’t like it.”
Apple CEO Tim Cook declined to attend a White House delegation trip to Saudi Arabia in May, where Mr Trump instead praised Nvidia CEO Jensen Huang, who joined the visit.
“Tim Cook isn’t here, but you are,” Trump told Huang during his speech in Riyadh.
The announcement comes amid a broader push by the Trump administration to bolster domestic tech and advanced manufacturing in the run-up to the U.S. election. With concerns mounting over global supply chain resilience, Trump is seeking to ensure that flagship companies like Apple visibly reinvest at home.
Apple’s new commitment could also ease political pressure on the company, which has faced criticism for its reliance on overseas production, particularly in China and India. However, questions remain over how much of the pledged investment will result in new U.S.-based manufacturing jobs, rather than infrastructure or automation-focused capital expenditure.
The final terms of Apple’s investment, including how the $100 billion will be deployed across projects and over what timeline, are expected to be outlined during the president’s formal announcement on Wednesday.
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Trump to announce $100bn Apple investment pledge to boost US manufacturing