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Yahoo
19 minutes ago
- Yahoo
US accuses UK of 'significant human rights issues' and restricting free speech
The US State Department has accused the UK of having "significant human rights issues", including restrictions on free speech. The unflattering assessment comes via a new version of an annual Human Rights Practices report, with its publication coinciding with Vice President JD Vance's holiday in the Cotswolds. Politics Hub: Follow latest updates and analysis It says human rights in the UK "worsened" in 2024, with "credible reports of serious restrictions on freedom of expression", as well as "crimes, violence, or threats of violence motivated by antisemitism" since the 7 October Hamas attack against Israel. On free speech, while "generally provided" for, the report cites "specific areas of concern" around limits on "political speech deemed 'hateful' or 'offensive'". Sir Keir Starmer has previously defended the UK's record on free speech after concerns were raised by Mr Vance. In response to the report, a UK government spokesperson said: "Free speech is vital for democracy around the world including here in the UK, and we are proud to uphold freedoms whilst keeping our citizens safe." The US report highlights Britain's public space protection orders, which allow councils to restrict certain activities in some public places to prevent antisocial behaviour. It also references "safe access zones" around abortion clinics, which the Home Office says are designed to protect women from harassment or distress. They have been criticised by Mr Vance before, notably back in February during a headline-grabbing speech at the Munich Security Conference. The report also criticises the Online Safety Act and accuses ministers of intervening to "chill speech" about last summer's murders in Southport, highlighting arrests made in the wake of the subsequent riots. Ministers have said the Online Safety Act is about protecting children, and repeatedly gone so far as to suggest people who are opposed to it are on the side of predators. Read more politics news: The report comes months after during a summit at the White House, cutting in when Donald Trump's VP claimed there are "infringements on free speech" in the UK. "We've had free speech for a very long time, it will last a long time, and we are very proud of that," the PM said. But Mr Vance again raised concerns during a meeting with Foreign Secretary David Lammy at his country estate in Kent last week, saying he didn't want the UK to go down a "very dark path" of losing free speech. The US State Department's report echoes similar accusations made by the likes of Nigel Farage and Elon Musk. The Trump administration itself has been accused of trying to curtail free speech and stifle criticism, most notably by targeting universities - Harvard chief among them.
Yahoo
23 minutes ago
- Yahoo
AI can make us UK's biggest firm, Rolls-Royce says
Rolls-Royce's plan to power artificial intelligence (AI) with its nuclear reactors could make it the UK's most valuable company, its boss has said. The engineering firm has signed deals to provide small modular reactors (SMRs) to the UK and Czech governments to power AI-driven data centres. AI has boomed in popularity since 2022, but the technology use lots of energy, something which has raised practical and environmental concerns. Rolls-Royce chief executive Tufan Erginbilgic told the BBC it has the "potential" to become the UK's highest-valued company by overtaking the largest firms on the London Stock Exchange thanks to its SMR deals. "There is no private company in the world with the nuclear capability we have. If we are not market leader globally, we did something wrong," he said. Tufan Erginbilgic has overseen a ten-fold increase in Rolls-Royce's share price since taking over in January 2023. However, he has ruled out the idea of Rolls-Royce seeking to list its shares in New York as British chip designer Arm has done and the likes of Shell and AstraZeneca have considered in the search for higher valuations. This is despite the fact that 50% of its shareholders and customers are US-based. "It's not in our plan," said Mr Erginbilgic, a Turkish energy industry veteran. "I don't agree with the idea you can only perform in the US. That's not true and hopefully we have demonstrated that." AI investment Rolls-Royce already supplies the reactors that power dozens of nuclear submarines. Mr Erginbilgic said the company has a massive advantage in the future market of bringing that technology on land in the form of SMRs. SMRs are not only smaller but quicker to build than traditional nuclear plants, with costs likely to come down as units are rolled out. He estimates that the world will need 400 SMRs by 2050. At a cost of up to $3bn (£2.2bn) each, that's another trillion dollar-plus market he wants and expects Rolls-Royce to dominate. The company has signed a deal to develop six SMRs for the Czech Republic and is developing three for the UK. But it remains an unproven technology. Mr Erginbilgic conceded he could not currently point to a working SMR example but said he was confident in its future potential. There are also concerns about the demands on water supplies from the data centre and SMR cooling systems. In response, companies including Google, Microsoft and Meta have signed deals to take energy from SMRs in the US when they are available. Next generation aircraft Rolls-Royce sees SMRs as key to its future, but its biggest business is aircraft engines. Already dominant in supplying engines to wide-bodied aircraft like Boeing 787 and Airbus A350, it plans to break into the next generation of narrow-bodied aircraft like the Boeing 737 and Airbus A320. This market is worth $1.6tn - nine times that of the wide-bodied . Rolls-Royce is a bit player in a market that has powerful and successful leaders, and that rival Pratt and Witney lost $8bn trying and failing to break into. The market is dominated by CFM International – a joint venture between US-based GE Aerospace and French company Safran Aerospace Engines. Industry veterans told the BBC that market leaders can and will drop prices to airline customers long enough to see off a new assault on their market dominance. But Mr Erginbilgic said this is not just the biggest business opportunity for Rolls-Royce. Rather, it is "for industrial strategy... the single biggest opportunity for the UK for economic growth". "No other UK opportunity, I challenge, will match that," he said. Share price up ten-fold Although Rolls-Royce sold its car making business to BMW nearly 30 years ago, the name of the company is still synonymous with British engineering excellence. But in the early part of this decade that shine had worn off. The company was heavily indebted, its profit margins were non-existent, and thousands of staff were being laid off. When Mr Erginbilgic took over in January 2023, he likened the company to "a burning platform". "Our cost of capital was 12%, our return was 4% so every time we invested we destroyed value," he said. Two and a half years later, the company expects to make a profit of over £3bn, its debt levels have fallen and shares have risen over 1,000% - a ten-fold rise. So how did that happen? And is Mr Erginbilgic right to think that Rolls-Royce's roll is only just starting? 'Grudging respect' The timing of his appointment was fortunate according to some industry veterans. Rolls-Royce's biggest business – supplying engines to commercial airlines – has rebounded strongly from the Covid pandemic. The company's most successful product – the Trent series of aircraft engines – are at the sweet spot of profitability as the returns on investment in their development over a decade ago begin to pour into company coffers. Russia's full-scale invasion of Ukraine in 2022 arguably made it almost inevitable that its defence business would see higher spending from European governments – which has been confirmed by recent announcements. Unions have not always been fans of Mr Erginbilgic's hard-charging approach. In October 2023, one of his first major move was cutting jobs, which drew criticism from Sharon Graham, the boss of the Unite union. "This announcement appears to be about appeasing the markets and its shareholders while ignoring its workers," she said at the time. However, overall global headcount has grown from 43,000 to 45,000 since 2023 and union sources say there is "grudging respect" for Mr Erginbilgic. Those sources give him one third of the credit for the turnaround around in the company's fortunes, with a third credited to market conditions and a third to his predecessor Warren East for "steadying the ship". So does Mr Erginbilgic really believe that Rolls-Royce can be the UK's most valuable company – overtaking the likes of AstraZeneca, HSBC, and Shell? "We are now number five in the FTSE. I believe the growth potential we created in the company right now, in our existing business and our new businesses, actually yes – we have that potential." Rolls-Royce is undoubtedly a company with the wind at its back – and Tufan Ergenbilgic certainly believes he has set the sails just right. What is AI, how does it work and why are some people concerned about it? Warning AI could use as much energy as Netherlands
Yahoo
an hour ago
- Yahoo
Electric vehicle sales growth eases to 21% in July, research firm says
By Alessandro Parodi (Reuters) -Global electric vehicle sales grew 21% year-on-year in July, the slowest rate since January and down from 25% in June, as momentum in plug-in hybrid sales in China slackened, market research firm Rho Motion said on Wednesday. WHY IT'S IMPORTANT China is the world's biggest car market and accounts for more than half of global EV sales, which in Rho Motion's data include battery-electric vehicles and plug-in hybrids. Its overall car sales growth slowed in July, with BYD, the world's largest EV maker, recording its third monthly drop in registrations. The relatively muted slowdown in overall EV sales however shows other markets are taking up some of the slack, with European sales for one benefiting from incentives aimed at speeding up decarbonisation. BY THE NUMBERS Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in July, Rho Motion data showed. China's EV sales growth, which averaged 36% a month in the first half, eased to 12% in July as the previously booming market was dampened by a pause in some 2025 government subsidy schemes for EV and plug-in hybrid purchases, Rho Motion data manager Charles Lester said. Chinese sales reached around one million vehicles. European sales surged 48% to about 390,000 units, while North American sales climbed 10% to more than 170,000. Sales in the rest of the world jumped 55% to more than 140,000 vehicles. KEY QUOTE "Despite regional variations, the overall trajectory for EV adoption in 2025 remains strongly upward," Lester said. WHAT'S NEXT Chinese car sales are expected to return to strong growth from August as new funds become available for its subsidy schemes, while a cut in U.S. tax credits for buying or leasing new EVs at the end of September will hurt demand there, Lester added. Sign in to access your portfolio
