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In this interview, Senior Banking Advisor, Retail Banking at Access Bank Plc, Robert Gill, spoke extensively on the anticipated growth in remittances and the transformative impact this will have on Nigeria’s economy. He also spoke on the bank’s innovative strategies for advancing financial inclusion and digital banking, while addressing key developments in the nation’s digital financial landscape. Nume Ekeghe presents excepts: What role has digital innovation played in Access Bank’s retail banking strategy, and how has it impacted customer engagement? Digital innovation is at the heart of everything we do as a bank. With over 60 million customers, our journey over the past 15 to 20 years reflects a significant transformation. In the early days, customers would visit a branch, fill out paper forms, and officially become part of the bank. This was the foundation of financial inclusion, which initially focused on corporates and businesses before expanding through the rapid proliferation of branch-based banking to include the wider population. However, achieving 60 million customers with a paper-based system would have been impossible, or at least very inefficient, we would have needed tens of thousands of branches nationwide. This is where digital innovation came in. Pioneering one of the first mobile apps in the country and introducing USSD banking laid the foundation for our truly digital-first strategy. Today, most customers find us online. They come across us on news platforms, entertainment sites, and social media channels like Instagram, Facebook, and X where they can find out more about what we do and interact with us. From there, they can easily open an account from the comfort of their home, workplace, or anywhere else—simply by dialing #901. It’s that simple. The same applies to our mobile app where you can find out about us online, download the app and open an account and begin a relationship. The days when banks had to urge customers to explore digital channels as an alternative to branch banking are long behind us. Now, digital is no longer an alternate channel, it is the primary one. Branches have become the alternative. Today, more than 90 per cent of transactions occur outside the branch, predominantly on phones—whether feature phones or smartphones. This shift has revolutionized banking from the moment customers discover us to account opening to ongoing services, whether transactional or extending to non-traditional banking products. Digital has redefined customer engagement and continues to shape the future of financial services. What are the strategies put in place to increase the adoption of digital channels by retail customers and how does it enhance financial inclusion? Financial inclusion is central to our mission and a cornerstone of Nigeria’s broader economic objectives, as championed by the Bankers’ Committee and the Central Bank of Nigeria (CBN). Historically, Nigeria struggled with financial inclusion, ranking amongst the lowest on the continent. However, we have made remarkable progress in closing that gap through the co-ordinated leadership of the Central Bank of Nigeria and the Bankers Committee. According to the Enhancing Financial Innovation and Access (EFInA) reports, which show financial inclusion rates growing from less than 50% in 2008 to 74 per cent in 2023, Nigeria is now amongst the better-ranked countries for financial inclusion, largely driven by innovations in mobile financial services. This is also a continental phenomenon, with account ownership in Sub Saharan Africa more than doubling since 2011. This progress has been achieved through collaboration between banks and fintech’s’, leveraging tools such as USSD technology, mobile banking applications, and agency banking to reach underserved communities. The traditional branch-based banking model, while transformative in its time, is no longer sufficient to meet the needs of modern customers. For someone working in a company, government, or as a trader or small business owner, the time required to visit a branch to open an account or complete transactions is time lost from productive activities or family. Today, customers demand convenience, and digital innovation allows us to meet them where they are. Our network of over 600,000 AccessClosa agents ensures that customers are never far from financial services. While digital tools are critical, personal interaction remains essential for financial inclusion. Our agent network plays a crucial role in bridging this gap. Beyond accessibility, digital tools have significantly reduced the cost of serving customers. Consider the transportation costs and lost time involved in traveling to a branch—time that could be spent trading, working, or attending to other priorities. By bringing services directly to customers through mobile and digital channels, we have transformed the banking experience, ensuring customers are served where and how they prefer, rather than requiring them to adapt to our systems. This approach underscores our commitment to reshaping financial services to genuinely meet customer needs. How has the bank’s digital transformation journey addressed pain points in the retail banking customer experience? One of the key points we frequently emphasise in our team planning sessions is that customers don’t necessarily want to bank or make payments in the traditional sense; what they truly want is to keep their money secure, travel, work, eat, shop, and manage their lives with ease. When they engage with financial services, we must focus on understanding what they are trying to achieve, not just the transactions they need to complete. For example, services like embedded finance or buy-now-pay-later options are great ways to align financial products with everyday needs without thinking about the financial product as an extra step. Instead of going to a branch to apply for a personal loan, a customer can now make an online purchase and pay for it in installments. This approach brings us closer to the customer, providing financial solutions that are seamlessly integrated into their lives. Another critical area we’ve worked on is simplifying the Know Your Customer (KYC) process and reducing the documentation required to open an account. The banking sector in Nigeria has made significant strides in this regard, with the introduction of tiered KYC, allowing individuals to open basic accounts remotely by simply creating a digital wallet. This development has played a pivotal role in advancing financial inclusion. Regarding transactions, we’ve enhanced the customer experience by offering greater flexibility and accessibility. Customers now have multiple ways to pay through cards, mobile access, or peer-to-peer transfers. For example, with our Access More platform, you can make QR payments, order a new debit card, or even request a statement—all instantly. If you need a stamped statement for visa purposes or a loan, there’s no need to visit the branch. We already have your transaction history, turnover, and salary information, allowing us to pre-qualify you for a loan. With just a few clicks on the app, the loan can be in your account within seconds. By removing these pain points and shifting many traditional banking processes from the branch to the digital space, we are not just offering convenience but also ensuring that services are fast, accessible, and available at the customer’s fingertips. This is the future of banking—focused on understanding customer needs, simplifying processes, and providing instant, on-demand services through technology. Can we know some of the digital payment solutions you have and how they have helped retail business growth? Digital payments are a critical driver of economic activity; they are the lifeblood of business success. Without the ability to process payments efficiently, businesses face significant challenges. At Access Bank, we understand this dynamic, which is why, after transitioning into a financial holding company a few years ago, we diversified into multiple verticals, including banking, payments, lending, insurance, and pensions. One of our strategic partnerships has been with Hydrogen, enabling us to better serve merchants nationwide. Hydrogen’s innovative Instant Payment Links allow customers to make payments via links or codes, receiving instant confirmation and value at the point of sale, further enhancing the merchant experience. You’ll likely have seen Hydrogen’s branding on POS terminals, reflecting the success of this collaboration. In Nigeria, most transactions still occur on a person-to-person basis, often seen as individual payments. Through data and analytics, we’ve identified that a significant number of customers, around 7.5 million, are small business owners. We now have the capability to serve these individuals more effectively, providing them not only with financial products but also with non-financial services through our SME team. This includes business seminars on topics like setting up and managing a business, keeping personal and business finances separate, and best practices for growing a company. Payments are now more accessible than ever. Beyond traditional methods, customers can make payments via USSD, mobile apps, or even interact with our chatbot, Tamada, on the banking app. To simplify transactions, we’re pioneering payments through phone numbers, allowing customers who prefer not to remember their account number to simply use a phone number to send payments. This approach is a testament to how digital solutions transform people’s engagement with financial services, making transactions faster, more convenient, and more inclusive. Can you give us some insight into some specific products by the bank, especially women, SMEs and youths? At Access Bank, women are at the heart of everything we do and I’m extremely fortunate that the majority of the leaders in my team are women. Our W Banking initiative has evolved into a thriving community, going beyond just offering financial products to creating a comprehensive ecosystem that supports women in multiple dimensions of their lives. Access W is not just a Nigeria-focused solution; it’s a pan-African proposition, with Access Bank’s presence in numerous countries across the continent. We have recently launched Access W in Botswana, and our mission is to impact women across Africa, not just locally in Nigeria. Our aim is to foster intra-African trade and connect women across the continent with global markets. One of the key offerings under Access W is the W Power loan, which has been in place for over a decade, providing women with preferential rates and terms to fund their businesses. Additionally, our digital lending team provides instant loans accessible via mobile devices, ensuring that women, regardless of the size of their business, can access financing quickly and conveniently. The W-branded debit card helps identify and serve women within our community, and we organize a range of seminars and events tailored to support women in business. We also have partnerships designed to help women learn practical skills, such as driving, and access loans for purchasing their first cars. Our training programs empower women with the tools they need to grow and succeed in their businesses. Just this week, we held our 6 th annual Womenpreneur ‘Pitch a Ton’ event where we celebrated over 100 graduates of the mini MBA programme we run in conjunction with the IFC for women-led small and medium businesses. These businesses are all doing amazing things on the continent, solving problems, creating employment and wealth. At Access Bank, we understand that empowering women leads to broader societal benefits. When we support women, we uplift families and contribute to the overall economic growth. This commitment to women’s economic empowerment is central to our values, and we continue to invest heavily in W Banking. Our youth solutions are also tailored to different life stages. For younger children, we offer Access Solo, an account that transitions from a parent-operated to a child-operated account once they turn 18. This progressive approach ensures that as children grow, they become more financially literate and prepared to manage their own finances. By the time they reach adulthood, they have their own debit cards, mobile apps, and full control over their accounts, empowering them to take charge of their financial future. How do you collaborate with fintechs companies? Some bankers view fintech companies primarily as competitors, but the potential for collaboration far outweighs the competitive angle. Despite the increasing digitalization of the financial sector, most transactions in the market are still conducted in cash, presenting a significant opportunity for partnership. Fintechs, working with banks as part of the overall financial ecosystem, have helped to bridge the financial inclusion divide and increase the velocity of money in the economy. To tap into this potential, we established a dedicated team—the Partnership and Digital Capabilities Team. Their primary role is to forge strategic partnerships with fintech companies, helping them gain better market access. This includes collaborating to provide payment services such as instant payments, leveraging partnerships like the one with Hydrogen to facilitate quick transactions, and even supporting fintechs in issuing payment cards. This approach is central to our strategy and has been a key focus for several years. We are moving beyond the traditional banking partnerships focused on payments, lending, and deposits. We have expanded into more strategic collaborations, such as our partnership with Coronation, which allows our customers to access the stock market and invest in Nigerian equities in real-time via our mobile app. This innovation lowers the barriers to entry for investing, allowing customers to easily view the market and make real-time transactions directly from their mobile phones. This is a part of our broader financial inclusion strategy to provide customers with access to a wider range of financial services beyond traditional deposit products, enabling them to build long-term wealth and contribute to economic growth in the community. What upcoming digital innovations or initiatives will further drive retail business growth? We foresee significant growth in the remittance space, with Nigeria receiving over $20 billion annually in remittances. Digital solutions are driving down the cost of international money transfers, enhancing speed and efficiency. Our partnerships with fintechs and international remittance operators aim to expand financial access, ensuring that more funds flow into the formal economy. What is Access Bank doing in this regard? With presence in over 15 countries, Access Bank is building its proprietary payment route, Access Africa, which connects all our countries of presence facilitating individual and business payments on the continent. We also collaborate with global payment schemes like Visa and Mastercard to facilitate seamless international transfers to over 150 countries in the world. By partnering with fintechs, we broaden access to financial services enabling remittances into mobile wallets, making money transfers more affordable and efficient The reduction in remittance costs will not only benefit the economy but also increase the flow of funds through formal channels. This will drive economic growth and prosperity within the continent. What is the future of remittances, and how is Access Bank preparing for it? We anticipate that remittances will evolve beyond cash transfers to include goods and services. For example, remittances could directly fund education fees, support online food retailers, or pay for medical expenses. This approach ensures that remittances are used for their intended purpose while helping to grow commerce and lower costs.The Arizona Cardinals are 6-6 through 12 games, which makes them an average football team. That's much better than the previous two years, which both ended with just four wins. But after two straight frustrating losses, it's not providing much consolation for a franchise that feels as though it should be much better. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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In recent days, there has been a surge in online speculation regarding alleged layoffs at Hisense Group. Various rumors and unverified data have been circulating, causing confusion and concern among employees and the general public. As the Brand Department of Hisense Group, we would like to unequivocally state that these claims are unsubstantiated and purely speculative in nature.The history between Romeu and Liverpool adds an extra layer of intensity to this match. These two teams have faced each other many times in the past, and each encounter has been fiercely competitive. From classic battles in the Champions League to dramatic showdowns in domestic competitions, Romeu and Liverpool have built a rivalry based on mutual respect and a desire for supremacy. This match is another chapter in that ongoing saga, a chance for both teams to write their own piece of history.The first significant change in the A-share market is the increasing presence of retail investors. With the rise of online trading platforms and the democratization of investment opportunities, retail investors have become a dominant force in driving market trends. Their behavior, often influenced by social media and online forums, can lead to increased volatility and unpredictability in stock prices. As a result, institutional investors and fund managers need to adapt their strategies to navigate this new landscape effectively.
Williams-Sonoma ( NYSE:WSM – Free Report ) had its price target raised by TD Cowen from $165.00 to $195.00 in a research report report published on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the specialty retailer’s stock. WSM has been the topic of several other reports. Telsey Advisory Group raised their price objective on shares of Williams-Sonoma from $165.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on Williams-Sonoma from $136.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Citigroup lowered their price objective on Williams-Sonoma from $140.00 to $134.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Barclays increased their target price on Williams-Sonoma from $116.00 to $123.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Jefferies Financial Group raised Williams-Sonoma from a “hold” rating to a “buy” rating and boosted their price target for the stock from $148.00 to $156.00 in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $154.41. View Our Latest Stock Analysis on Williams-Sonoma Williams-Sonoma Stock Down 0.3 % Williams-Sonoma ( NYSE:WSM – Get Free Report ) last released its earnings results on Thursday, August 22nd. The specialty retailer reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.13. Williams-Sonoma had a net margin of 14.54% and a return on equity of 51.56%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the business earned $1.56 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Williams-Sonoma will post 8.13 earnings per share for the current fiscal year. Williams-Sonoma Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 18th were paid a $0.57 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.33%. Williams-Sonoma’s payout ratio is currently 26.97%. Insider Transactions at Williams-Sonoma In related news, EVP Karalyn Smith sold 11,100 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $134.66, for a total value of $1,494,726.00. Following the completion of the sale, the executive vice president now directly owns 15,150 shares in the company, valued at $2,040,099. This trade represents a 42.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink . Also, CEO Laura Alber sold 40,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $130.49, for a total transaction of $5,219,600.00. Following the transaction, the chief executive officer now owns 990,956 shares in the company, valued at $129,309,848.44. This trade represents a 3.88 % decrease in their position. The disclosure for this sale can be found here . Insiders have sold a total of 91,100 shares of company stock worth $12,525,126 in the last three months. Insiders own 1.50% of the company’s stock. Hedge Funds Weigh In On Williams-Sonoma A number of large investors have recently made changes to their positions in WSM. FMR LLC lifted its stake in Williams-Sonoma by 72.7% in the third quarter. FMR LLC now owns 8,781,201 shares of the specialty retailer’s stock worth $1,360,384,000 after purchasing an additional 3,695,837 shares during the last quarter. State Street Corp grew its stake in shares of Williams-Sonoma by 108.8% during the third quarter. State Street Corp now owns 5,329,125 shares of the specialty retailer’s stock valued at $825,588,000 after buying an additional 2,777,339 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Williams-Sonoma by 107.5% in the third quarter. Geode Capital Management LLC now owns 2,689,451 shares of the specialty retailer’s stock worth $418,223,000 after buying an additional 1,393,436 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Williams-Sonoma by 118.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,110,320 shares of the specialty retailer’s stock worth $326,931,000 after acquiring an additional 1,145,410 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Williams-Sonoma by 104.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,105,336 shares of the specialty retailer’s stock valued at $171,239,000 after acquiring an additional 565,745 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors. Williams-Sonoma Company Profile ( Get Free Report ) Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand. Featured Articles Receive News & Ratings for Williams-Sonoma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Williams-Sonoma and related companies with MarketBeat.com's FREE daily email newsletter .In conclusion, Kimi's emergence as a rising star in his own right is a testament to the enduring bond between father and son. As they walk the path of fame and success together, their shared experiences and mutual love and respect will continue to be the foundation of their journey. With their striking resemblance and undeniable talent, the world awaits with bated breath to see what the future holds for this dynamic father-son duo.According to the NBS, the moderate increase in the CPI was primarily driven by higher prices in certain key sectors. Food prices, in particular, saw a notable rise, with factors such as increased demand and supply chain disruptions contributing to the uptick. Non-food prices also experienced a modest increase, reflecting growing consumer confidence and improved economic conditions.
Furthermore, a U.S. withdrawal from NATO would have broader geopolitical ramifications, affecting not only transatlantic relations but also global security dynamics. The alliance plays a pivotal role in shaping the strategic environment and promoting democratic values and principles worldwide. An American retreat from NATO could signal a retreat from its leadership role in maintaining international order and upholding democratic norms, leaving a void that could be exploited by authoritarian regimes and hostile actors.
Alberta RCMP officer charged with sexual assault after 2022 hotel party LEDUC, Alta. — Alberta's police watchdog says an RCMP officer is facing sexual assault charges stemming from a hotel room party two years ago. Canadian Press Dec 2, 2024 2:22 PM Dec 2, 2024 2:50 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message The RCMP logo is seen on the shoulder of a superintendent during a news conference, Saturday, June 24, 2023 in St. John’s, Newfoundland. THE CANADIAN PRESS/Adrian Wyld LEDUC, Alta. — Alberta's police watchdog says an RCMP officer is facing sexual assault charges stemming from a hotel room party two years ago. The Alberta Serious Incident Response Team says its investigation into the Leduc-based Mountie revealed evidence that gives reason to believe sexual assault offences happened and that the officer should be charged. It says they allegedly took place in an Airdrie hotel room while a group of people socialized in the early morning hours of Dec. 3, 2022. Const. Bridget Morla is charged with two counts of sexual assault. She has been released on the condition that she appear in court next week. The police watchdog says no further information would be released as the matter is before the courts. This report by The Canadian Press was first published Dec. 2, 2024. The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Alberta News Edmonton Elks hire longtime Stampeders assistant Mark Kilam as head coach Dec 2, 2024 1:54 PM Alberta to end use of photo radar on provincial highways as of April 1 Dec 2, 2024 1:39 PM Hockey Canada invites 32 players to national junior team selection camp Dec 2, 2024 11:41 AMOnline Transformer Monitoring System Market Growth Drivers and Future Outlook with Comprehensive AnalysisCyberpunk 2077 Officially Announces Update 2.2: Exciting New Content On the Way!
Car industry suffers another breakdown: Vauxhall-owner Stellantis shares plunge as boss quits By CALUM MUIRHEAD Updated: 22:00, 2 December 2024 e-mail View comments The global car industry suffered another convulsion yesterday as shares in Vauxhall’s owner plunged following the surprise exit of its chief executive. Stellantis’s stock, which is listed in Paris and Milan, tumbled 6.3 per cent to its lowest level in more than two years as Carlos Tavares, one of the most respected figures in the industry, dramatically resigned on Sunday ahead of his expected retirement in early 2026. Tavares’s departure came after his reputation took a hit in September when the company issued a major profit warning amid intense competition from Chinese rivals and weak US demand. ‘This sets an unprecedented challenge for investors looking to invest in a firm with such volatility in the management team,’ said analysts at investment bank JP Morgan. Analysts at broker Jefferies added that his exit, thought to have been the result of a row over corporate strategy between the chief executive, the board and major investors, would ‘cast doubts’ about the effectiveness of Stellantis’s model of multiple car brands being owned by a single conglomerate. The departure of Tavares, 66, came days after Stellantis – which also owns brands including Jeep, Fiat and Peugeot – announced plans to close its Vauxhall factory in Luton, putting more than 1,100 jobs at risk. Stock shock: Stellantis's stock, tumbled 6.3% to its lowest level in more than two years after boss Carlos Tavares (pictured), dramatically resigned on Sunday The problems highlight the misery facing global car makers, who find themselves caught in a perfect storm of falling demand, rising competition and increasing pressure from governments to adapt their production to hit net-zero targets. Volkswagen (VW) is embroiled in a dispute with workers over plans to close at least three of its German factories and lay off thousands of staff alongside a 10 per cent pay cut for those remaining. Meanwhile, Japanese group Nissan is facing a make-or-break year. Last month, it unveiled plans to axe 9,000 jobs as it tries to keep itself afloat amid plunging profits and an exodus of senior executives that has left it on the brink of collapse. Boss Makoto Uchida has presided over the company’s worst share price performance in 50 years. The company’s fate has big implications for the UK, where Nissan employs 7,000 staff, mostly in Sunderland. RELATED ARTICLES Previous 1 Next Neglect imperils Royal Mail: Government should have learned... Political turmoil in France sends euro tumbling and... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account Ford, the long-dominant US motoring group, is also struggling to adapt. Last week, UK boss Lisa Brankin called on the Government to introduce incentives to encourage drivers to buy electric vehicles after the firm announced 4,000 job cuts in Europe over the next three years, including 800 in Britain, due to low demand and competition pressures. Industry watchers say all the major car brands are suffering from a poisonous cocktail of sluggish demand for electric cars and rising competition from China. Chinese car makers, on the back of substantial subsidies from Beijing, have begun to dominate their domestic market and are now looking to break into other countries, adding more competition to the sector. America has already slapped a 100 per cent tariff on imports of Chinese electric cars. In October, the EU approved plans for tariffs of up to 45 per cent on electric cars from China. But the Government seems unlikely to follow the examples set in Washington and Brussels, with Prime Minister Keir Starmer having recently met with Chinese president Xi Jinping in a bid to thaw relations between the two countries. Andy Palmer, the former boss of Aston Martin, said the situation reminded him of when Japanese car makers first began to challenge their Western counterparts in the 1970s and 1980s. He told the Mail: ‘At that time, it did seem like the Japanese were eating everybody’s breakfast and right now it feels like the Chinese are eating everybody’s breakfast.’ Shutting up shop: The departure of Tavares, 66, came days after Stellantis announced plans to close its Vauxhall factory in Luton, putting more than 1,100 jobs at risk He added that the crisis-hit automakers were now paying the price for adapting too slowly as rivals surged ahead. ‘Nissan, Ford and Stellantis were particularly slow to react to a changing world,’ he said. Factory closures in Britain are also intensifying a row between the industry and ministers over targets intended to boost the number of electric cars on the roads. Electric cars must make up at least 22 per cent of sales for car makers this year, a figure that will rise to 80 per cent by 2030. Firms that fall short face hefty fines. Labour has also pledged to reintroduce a ban on new petrol and diesel cars by 2030 after the Conservative government previously pushed back the deadline to 2035. But car makers have urged the Government to rethink the targets, warning that falling demand for electric vehicles from consumers means they are being forced to close factories and cut jobs instead. The Government’s stance appeared to soften last week when Business Secretary Jonathan Reynolds admitted to MPs that the electric vehicle mandate was ‘not working as anyone intended’. David Bailey, a car industry expert at the University of Birmingham, said the Government needs to find ways to stimulate demand for electric cars and that ‘simply telling car firms to supply electric vehicles isn’t going to cut it’. 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That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence. More top storiesThe "The Way of the Miko: Guardian Sister" XSX console and controller set is a true collector's item that showcases the beauty and artistry of Japanese culture. It's a tribute to the strong and noble spirit of the miko tradition, embodying courage, strength, and grace in the face of adversity. As gamers embark on their own journey through the game, they can draw inspiration from the Guardian Sister's unwavering determination and unwavering dedication to protect what is dear to her.JACKSONVILLE, Fla. (AP) — Keaston Willis scored 15 points off of the bench to help lead Tulsa over Detroit Mercy 63-44 on Tuesday. Read this article for free: Already have an account? To continue reading, please subscribe: * JACKSONVILLE, Fla. (AP) — Keaston Willis scored 15 points off of the bench to help lead Tulsa over Detroit Mercy 63-44 on Tuesday. Read unlimited articles for free today: Already have an account? JACKSONVILLE, Fla. (AP) — Keaston Willis scored 15 points off of the bench to help lead Tulsa over Detroit Mercy 63-44 on Tuesday. Willis finished 3 of 9 from 3-point range and 6 for 7 from the line for the Golden Hurricane (4-3). Isaiah Barnes scored 12 points while shooting 4 for 9, including 4 for 6 from beyond the arc and added seven rebounds. Dwon Odom had 11 points and went 5 of 8 from the field. Jared Lary led the way for the Titans (3-4) with 12 points and two steals. Tulsa led 36-27 at halftime, with Willis racking up nine points. Tulsa extended its lead to 54-35 during the second half, fueled by a 9-2 scoring run. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar. Advertisement
Yankees reportedly agree eight-year, $218 million deal with pitcher FriedIn addition to addressing the left winger position, Arsenal also need to work on improving their overall attacking cohesion and movement off the ball. Too often, the Gunners have looked disjointed and predictable in the final third, with their build-up play lacking fluidity and penetration.Rashford burst onto the scene as a young talent at Manchester United and quickly became a fan favorite at the club. His electrifying pace, technical skill, and eye for goal made him a key player for the Red Devils, and he has been a consistent performer for the team over the past few seasons. However, despite his undeniable talent, Rashford has faced scrutiny and criticism for his inconsistency and occasional struggles in front of goal.