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UK interest rate decision loomsBack

BBC.co.uk

 

UK interest rate decision looms 

The Bank of England will deliver one of the most closely watched interest rate decisions since the financial crisis later on Thursday. Economists and investors are expecting the first increase in a decade. In September, the Monetary Policy Committee (MPC) laid the groundwork for an increase “over the coming months” if economic growth remained stable. If the Bank raises rates from the current 0.25%, it would represent the first increase since July 2007.

 

Tesla delays Model 3 production in its worst quarter 

Electric carmaker Tesla pushed back targets for its new Model 3 car, admitting it’s months behind schedule.

Tesla said it would now produce 5,000 of the cars each week by early 2018, instead of December. The new target emerged as Tesla posted its biggest quarterly loss ever, sending its shares down more than 5% in after-hours trading. Tesla made net losses of $619m (£468m) in the three months to 30 September, nearly double the previous quarter.

 

 

The Daily Telegraph

 

Classic cars top alternative investment asset classes, with 192pc growth in 10 years 

Classic cars continue to power ahead as one of the top-ranking alternative investment assets, with growth of 192pc over the past ten years – despite a rocky year for vintage vehicles. The asset class has performed consistently strongly against other alternative investment asset classes, such as fine art and wine, with a peak in 2015, according to transaction data between 2006 and 2017. While current market conditions have seen some reversal in recent gains, driven by more cars coming onto the market which has depressed prices over the past 12 months, the classic car market has still grown 3pc since last year, according to a report by global art insurance specialist AXA Art.

 

 

The Daily Express

 

Driverless cars: Over-75s bank on self-driving cars to remain on the road 

Older motorists are banking on driverless technology to keep them on the road, following a sharp acceleration in the numbers losing their licence on medical grounds. Last year 15,290 motorists aged 75 and over had their licences revoked, a rise of 64 per cent over the last five years.  Almost 60,000 have lost their licence since 2012, of whom almost three quarters were male. There is no legal age at which a driver has to stop although motorists must tell the DVLA if they have a medical condition that could affect their driving such as dementia, diabetes, epilepsy, multiple sclerosis or eye problems. Around 2.6million over-75s are still able to get behind the wheel, with two thirds still driving regularly.

 

 

The Daily Mail

 

BMW boss’s vote of confidence in Britain: Top executive says car maker’s British-based operations will remain crucial after Brexit

A top executive from motoring giant BMW has given a vote of confidence in post-Brexit Britain. The senior director from the German manufacturer, whose brands also include Mini and Rolls Royce, suggested its British-based operations would remain crucial after our split with the EU, as will its trade with us.

The firm currently sells more than a quarter of a million cars a year in the UK – and a relationship with one of its most lucrative markets will continue long after it has left the European Union, said BMW’s global sales and marketing director Dr Ian Robertson. Building the Mini and BMW petrol engines in the UK would also continue to make commercial and strategic sense because it followed the firm’s philosophy of manufacturing vehicles close to where they are sold, he added. Dr Robertson said he was now ‘optimistic’ a deal would be done over Brexit.

 

 

The Sun

 

Could driverless cars mean the end of speeding tickets? Insurers or software developers could be forced to pay penalties 

Car insurers or software developers could have to stump up for speeding fines racked up by driverless cars. Drivers won’t be at fault if autonomous motors break the road rules in the future but cops would still want to track down the cash. And MPs discussing driverless car laws in Parliament questioned whether insurers should have to pay up instead. While driverless cars should never break the speed limit, quick-changing variable signs on smart motorways or software malfunctions could all catch self-driving motors out.

 

Posted by Paul Carpenter on 02/11/2017