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News UpdateBack

Tesla chief Elon Musk says Apple is making an electric car


Tesla’s owner, Elon Musk, has said it is an “open secret” that Apple is making a rival electric car.

He also predicted vehicles that could not drive themselves would become a “strange anachronism” before too long.

The tech entrepreneur’s comments were made during an exclusive interview with the BBC at his design studio near Los Angeles. Tesla vies with Nissan and BMW to be the world’s bestselling electric-car brand, but currently runs at a loss.

An added challenge is that over recent months several of its engineers have been hired by rivals, including China-backed Faraday Future and Apple.


The Financial Times

One in five pounds spent online in December – BRC

Online sales of non-food items grew by 15 per cent in December, compared to the same month in the year before, according to the latest data from the British Retail Consortium and KPMG. That took the total to nearly 20 per cent of all non-food sales, up from 17.3 per cent in December 2014. The shift online was led by household appliances, footwear and furniture, with toys and baby gear also growing quickly, seemingly boosted by soggy weather encouraging shoppers to stick at home.

Toyota pledges to stay in UK even if country takes Brexit

Toyota will keep making cars at its plant in the English Midlands even if the UK votes to leave the European Union, chief executive Akio Toyoda said in a boost for campaigners wanting a Brexit. The comments by Mr Toyoda, the great-grandson of Toyota’s founder, will offer reassurance to the thousands of staff at its assembly plant in Burnaston near Derby and its engine plant at Deeside in North Wales.


The Daily Telegraph

Crude reckoning: what will oil price slump mean for the global economy?

The current oil rout is now worse than any since 1970, with the price of Brent crude slumping from $115 a barrel in the summer of 2014 to an 11-year low below $32. The slump has roiled global financial markets and oil exporters. But for many of us, cheaper oil is a good thing. However, the strain of cheap crude is beginning to mount. Who will the winners and losers be if oil prices stay low?

Posted by Lois Hardy on 12/01/2016