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Several major companies have faced financial difficulties recently.
Porsche AG, for example, has cut its guidance amid weak demand for electric vehicles, leading to a nearly 10% drop in shares for Volkswagen's biggest shareholder.
The company's profits were almost wiped out in the second quarter due to slowing sales in China and US tariffs.
The British motor finance division of BMW has set aside over £200 million to cover potential claims from a car loan mis-selling scandal.
The provision is a response to an FCA consultation on a redress scheme for customers who were not informed about commission payments to dealers.
In more positive news, VodafoneThree has struck a £2 billion deal to improve its mobile network and win approval from competition regulators for its merger with CK Hutchison’s Three.
This investment aims to create up to 13,000 jobs over the next decade.
However, British firms are generally falling behind their global rivals in adopting artificial intelligence, a trend that has been described as 'dangerous complacency' by Matt Clifford, author of the UK’s AI action plan.
In property, a Dubai developer, Arada, has acquired a 75% stake in London-focused developer Regal, with the aim of trebling Regal's pipeline to 30,000 flats and houses over the next three years.
Other companies, like Van Elle, are warning of lower profits due to building delays related to the Building Safety Act.
The Cotswold Company, however, bucked the gloomy mood with a 30% jump in half-year revenue, boosted by new showroom openings.
2025-09-22 20:03:00



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