EasyJet Third-Quarter Profit Growth Hit by Fuel Costs, Strikes
Disruptions from industrial action by air traffic controllers in France have cost the airline about £15 million, while rising fuel expenses have amounted to £10 million, the UK budget carrier said on Thursday. Good profit growth is expected year-on-year despite the £25 million hit.
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Truss ‘carries quite a lot of blame' for Tory record, Badenoch claims
Truss 'carries quite a lot of blame' for Tory record, Badenoch claims Liz Truss 'carries quite a lot of' responsibility for the Conservatives' record, Kemi Badenoch has said amid a row over the party's direction. The current Tory leader said she was 'very focused on what the Conservatives are going to do now', after former prime minister Ms Truss accused her of 'repeating spurious narratives'. Speaking on a farm near Saffron Walden in her constituency, Mrs Badenoch also described herself as an 'Essex girl', and added that people from the county 'are grafters; they work hard'. The Leader of the Opposition faced questions about Ms Truss's claim that under the Conservatives, 'the economy was wrecked with profligate Covid spending by (Rishi) Sunak' and that 'the huge increase in immigration has been a disaster'. Mrs Badenoch told ITV Anglia: 'I know that, as a former prime minister and a former foreign secretary, (Ms Truss) carries quite a lot of that blame. 'The party's now under new leadership. 'I wasn't in charge during those 14 years; she was. 'That's a criticism she's probably levelling at herself.' The Tory leader also said she was 'telling the truth' about her party's record. 'I'm telling the truth that immigration was too high – that's why we have much tougher policies to fix immigration,' she continued. 'I am telling the truth that taxes were too high, that we were putting a lot of regulation on businesses, and what we're seeing is Labour making every single thing worse. 'They're doing that because they haven't learned many of the lessons that we learned. They haven't learned from our mistakes. They're making worse mistakes.' The Labour Government's mistakes include making 'no cut in spending at all – the books were not balanced', Mrs Badenoch claimed. 'We're spending more on welfare than we are on defence – that cannot continue,' she said. Mrs Badenoch had previously told The Telegraph that 'for all their mocking of Liz Truss, Keir Starmer and Rachel Reeves have not learnt the lessons of the mini-budget and are making even bigger mistakes'. Ms Truss, who spent 49 days in Number 10, hit back when she said that 'instead of serious thinking', Mrs Badenoch was 'repeating spurious narratives'. She continued: 'I suspect she is doing this to divert from the real failures of 14 years of Conservative government in which her supporters are particularly implicated. 'It was a fatal mistake not to repeal Labour legislation like the Human Rights Act because the modernisers wanted to be the 'heirs to Blair'. 'Huge damage was done to our liberties through draconian lockdowns and enforcement championed by Michael Gove and Dominic Cummings. 'The economy was wrecked with profligate Covid spending by Sunak. The huge increase in immigration has been a disaster.' Mrs Badenoch also took questions about her identity, after she told the Rosebud podcast: 'I have not renewed my Nigerian passport, I think, not since the early 2000s. 'I don't identify with it any more, most of my life has been in the UK and I've just never felt the need to.' The North West Essex MP told ITV Anglia: 'I am definitely an Essex girl, that is a fact.' A London Assembly member before she took her Commons seat in 2017, Mrs Badenoch said: 'I represent an Essex constituency, these are my people. 'I was a Londoner, but Essex people asked me to be their MP, and I want to make sure that I do them proud. And I love this part of the world. 'It's fantastic being here. It's a rural community, and I've been talking to the farmers here. I talked about how my grandfather was a farmer, it's very hard work. 'The people of Essex and East Anglia – they are grafters. 'They work hard, and I want to make sure that we do right by them.' Mrs Badenoch spent Tuesday morning at a farm in Little Walden, where she tried her hand at harvesting wheat using a Claas Lexion combine harvester. She told farmers: 'A lot of farming just feels like constant interference. 'Everything is interfered from the minute you wake up.' Examples of interference included 'chemicals and insecticide, people you're hiring, how much you've got to pay them', plus changes to 'employers' NI (national insurance), then somebody wants to put pylons on, there's compulsory purchase, it's impacting the cost of the land, if you want to add a new farm building, there's planning applications', she said. 'It's just endless constant Government saying, 'You can't do this, you can't do that, you can't move forwards'. 'And the burden in my view has now crossed the threshold.'
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30 minutes ago
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Tata's acquisition of IVECO: a defining moment for Europe's commercial vehicle sector
Truck industry observers have long speculated about the first takeover of a European OEM by an Asian Group—with IVECO, following the spin-off from CNH Industrial in 2022, very much in the focus of the speculation. The historic moment arrived with the announcement of Tata Motors' €3.8 billion ($4.4 billion) all cash voluntary tender offer to acquire IVECO's Commercial Vehicle business (excluding its defence division), on July 30, 2025. The transaction is contingent on the sale of IVECO's defence arm, Iveco Defence Vehicles (IDV), which is being divested separately to Leonardo SpA for €1.7 billion ($2.0 billion). Completion is expected by early 2026. The planned arrangement aims to preserve IVECO's autonomy: its headquarters remain in Turin, its workforce and industrial footprint are protected by binding non-financial covenants (no layoffs, and no plant closures for at least two years), and the existing board structure will be largely retained with independent oversight. Once complete, the deal will create a global Commercial Vehicle powerhouse, with combined annual revenues of around €22 billion ($26 billion) and a global production footprint spanning Europe, Asia, and Latin America. According to GlobalData's analysis, the merger will create a new grouping on a par with TRATON and Volvo Group in terms of global Truck market share and annual production capacity. Indeed, a combination of US market decline and stable demand in India has resulted in a regional rebalancing that would have driven up Tata/IVECO's combined share of the global market (excluding China) to near the top of the ranking during the first half of 2025—second only to global market leader, Daimler. From a product and geographical viewpoint, Tata's dominance in India and Southeast Asia is highly complementary to IVECO's presence in Europe and Latin America, with no significant overlap in product lines or manufacturing geography. As IVECO and Tata compete in different markets, there is little danger in this scenario of a combined market share erosion. The geographical spread distinguishes it from previous European Heavy-Duty (HD) mergers (MAN/Scania, Volvo/Renault). Tata also gains access to IVECO's FPT Industrial powertrain technologies, including electric, hydrogen, and natural-gas platforms, providing it with scope to expand its net zero ambitions. From a strategic point of view, the acquisition is transformative in elevating Tata from a predominantly regional player to a genuine global OEM, with immediate access to European and Latin American markets and distribution networks. In the longer term, combining R&D, procurement and production across regions will also potentially enable better cost leverage and smoother responses to cyclical demand swings across global Commercial Vehicle markets. The acquisition of IVECO marks a watershed moment for Tata Motors and represents the most significant strategic realignment of the European Truck industry since the merger of Scania and MAN under the TRATON umbrella in 2021: the first takeover of a major European Truck OEM by an Asian group. While Asian manufacturers have, thus far, expanded globally through greenfield ventures or partnerships, none have previously acquired a top-tier European Commercial Vehicle brand outright. IVECO, with its deep engineering roots in Italy, Germany, and Spain, and a legacy dating back over a century, is one of Europe's core industrial Truck manufacturers. The move reflects the growing confidence and capital strength of Asian industrial groups, particularly India's Tata Group, with two landmark automotive acquisitions in Europe—first with Jaguar Land Rover in 2008, and now IVECO in 2025. It also signals a shift in global Truck market dynamics, as Asian players move from regional dominance to global consolidation. The implications are far-reaching: cross-continental technology transfer, access to EU markets, and potentially new alliances in alternative powertrains are now all firmly on the horizon. Zita Zigan, Director, Global Commercial Vehicle Forecasts This article was first published on GlobalData's dedicated research platform, the . "Tata's acquisition of IVECO: a defining moment for Europe's commercial vehicle sector" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
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Forest confirm new front-of-shirt sponsor
Nottingham Forest have announced Bally's Corporation, an American gambling, betting and interactive entertainment company, as the new front-of-shirt sponsor for the 2025-26 season. It comes despite Premier League clubs collectively agreeing in 2023 to withdraw gambling sponsorship from the front of their matchday shirts by the end of the 2025-26 season. Clubs have been allowed to secure new shirt-front deals before the deadline and will still be able to continue featuring gambling brands in areas such as shirt sleeves and LED advertising afterwards. Forest owner Evangelos Marinakis said: "We are on a special journey - we are determined to keep achieving incredible things and strengthening our global partnerships is an important part of this. "As our club continues to thrive both on and off the pitch, we're looking forward to working with Bally's on a number of exciting initiatives, helping us to engage with our growing fanbase within Nottinghamshire and around the world." Home shirts with the new sponsor will be worn for the first time in Tuesday's friendly against Serie A side Fiorentina at the City Ground. In the 2024-25 campaign, 11 top-flight teams had a gambling sponsor on the front of their shirts, an increase of three from the previous campaign. The ban from next season follows a consultation between the league, its clubs and the Department for Digital, Culture, Media and Sport (DCMS) as part of the government's ongoing review of current gambling legislation.
