Aston Martin cuts earnings outlook amid US tariff hit
The group saw shares fall over 3% in morning trading on Wednesday after saying it now expects full-year underlying earnings to 'improve towards breakeven', having previously guided for profit growth.
Aston's stock has lost half its value in the past year over concerns about the impact of US President Donald Trump's tariff war.
The profit alert comes after Aston Martin revealed the impact of a difficult first half, with operating losses widening to £134.7 million for the six months to June 30 from £106.1 million a year earlier.
Revenues tumbled 34% to £220.5 million in the second quarter and were down 25% overall in the first half.
The group limited shipments to the US in the second quarter after Mr Trump imposed a 25% tariff on car imports in April.
It then resumed shipments in June as the UK reached an agreement with the US for a lower 10% tariff on UK-made cars for the first 100,000 vehicles per manufacturer.
Anything above that threshold will be hit with a 27.5% duty.
Adrian Hallmark, chief executive of Aston Martin, said: 'The evolving and disruptive US tariff situation was unhelpful to our operations in the second quarter.'
He added: 'We continue to actively engage the UK Government to urge them to improve the quota mechanism to ensure fair access for the whole UK car industry to the 10% rate on an ongoing basis.'
The tariff disruption saw the firm's wholesale sales by volume fall 8% in the second quarter to 972.
The results come amid a significant overhaul at Aston Martin as it seeks to shore up its long-term finances.
In February, the group said it plans to sell its minority stake in the Aston Martin Aramco Formula One team and confirmed that Lawrence Stroll's Yew Tree Consortium would invest a further £52.5 million to grow its stake in the business.
Aston Martin said the deal to sell a stake in the Formula One racing team was nearing completion and would be worth around £110 million.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Libya Herald
an hour ago
- Libya Herald
Brega begins its fuel truck e-tracking system to counter smuggling
Libya's Brega Oil Marketing Company, the National Oil Corporation's (NOC) subsidiary charged with fuel imports and distribution, announced today that it has started its automated fuel truck tracking system. Brega said the operations and automated tracking room was inaugurated by its Chairman, Fouad Ali Balrahim, in the presence of Board members and several managers and company officials. A quantum leap Brega said the step is a quantum leap in direct communications with the drivers of the company's fuel trucks and immediate response to any emergency faced by the company's drivers, as well as enforcing regulations on speed compliance and good behaviour on the public road. Brega said that among the most important advantages of the system are: * The possibility of direct communication with drivers. * SOS emergency alarm system. * Ability to stop the truck engine remotely. * Accurate identification of cargo unloading locations. The project was implemented under the supervision of the General Directorate of Information and Communications Technology, and will manage the main operations room of the tracking process in cooperation with the departments concerned with controlling the movement of fuel trucks. This project, Brega added, underscores its commitment to digital transformation and enhanced oversight to serve the public interest. If successful, a possible quantum leap in Libya's anti-fuel smuggling efforts? Successive Libyan governments since the 2011 revolution have made unsuccessful efforts to counter the country's huge cross land and sea border fuel smuggling problem. Last month, Naji Issa, Governor of the Central Bank of Libya put the country's annual fuel smuggling bill at about LD 20 billion (US$ 2.7 bn). This equates to about a third of all annual government fuel subsidies. The launch of e-tracking of fuel trucks is part of the government's wider effort to counter this fuel smuggling across land to neighbouring countries and across the sea to states where fuel prices are unsubsidised to the high levels of Libya. A subsidised litre of petrol in Libya today costs LD 0.15 – about US$ 0.02. It will be recalled that in July 2024, Tripoli based Libyan Prime Minister, Abd Alhamid Aldabaiba, and the head of the Audit Bureau, Khaled Shakshak, attended a workshop on launching an enhanced fuel truck tracking and fuel monitoring system on Brega fuel trucks. This ''anti-fuel smuggling system'' involves converting the fuel outlet valves on fuel delivery trucks from simple mechanical valves that can be opened by anyone at any time, to electronic valves that can only be opened at the targeted petrol station. The system also includes an electronic fuel gauge to measure the amount of fuel delivered; electronically sealed fuel inlets and control cameras fitted to the delivery truck. In parallel to this, an electronic gauge is to be installed at the fuel tanks in petrol stations. Formation of a technical committee At the workshop, the Prime Minister directed the formation of a technical committee from all relevant authorities to evaluate the system and the practical steps to be taken to ensure its implementation throughout the country. Fuel consumption quotas for citizens and unsubsidized prices for foreigners Moreover, at the July 2024 workshop, subsequent possible and more advanced phases of the system included fitting electronic fuel pumps at petrol stations that can identify if the refuelling citizen's car has used up its allotted subsidised fuel consumption quota, if it is reported as stollen, or if it belongs to a foreigner. Foreigners could pay higher unsubsidised fuel price The system could be set up so thatforeigners would pay a higher unsubsidized price for petrol. Quotas are the average worked out by the government of how much fuel the average Libyan citizen consumes per day/week/month/year. Fuel consumption quotas are part of the government's plans to reform fuel subsidies by paying citizens directly the average amount of fuel they consume while raising fuel prices. This is to reduce the abusive consumption and smuggling of fuel across Libya's porous borders. . Attorney General holds anti-fuel smuggling high summit Ten expatriates convicted for smuggling 1.185 million litres of fuel off the coast of Zuwara Committee discusses regulation and fuel smuggling prevention system provided by Al-Namaa Oil Investment Company PM Aldabaiba attends workshop on an experiment of an electronic system to prevent fuel smuggling Secular and religious agree on need for Libya's gradual energy subsidy reform IMF study entitled 'Energy Subsidy Reform in Libya' concludes that reform is crucial as subsidies lead to overconsumption and premature resource depletion NOC chairman Bengdara says his organisation is not a security force to combat fuel smuggling ( Aldabaiba forms ministerial committee to study mechanism for fuel subsidy reform – again ( Supreme Council for Energy adopts NOC 2023-2027 plan, including alternative energy project ( Attorney General bans 15 petrol stations for fuel smuggling abroad ( Prosecutor orders fuel supply ban on 32 petrol stations accused of complicity in fuel smuggling ( Upon Attorney General's order, Brega stops supplying 32 petrol stations accused of fuel smuggling ( At Gharian cabinet meeting, Aldabaiba explains fall in black-market value of dinar and resounds alarm over fuel subsidies ( Ministry of Oil concerned about negative effect of UN report on fuel smuggling on sector investment ( Zawia Public Prosecutor orders detention of militia commander guarding Zawia refinery for fuel smuggling ( Attorney General takes measures to combat Zawia refinery fuel smuggling through security apparatus ( Economy Minister follows up on fuel distribution and counter-smuggling efforts including GPS tracking In an effort to counter fuel smuggling, the Economy Minister orders fuel trucks to be fitted with GPS tracking devices ( GPS truck tracking to be used to counter fuel smuggling, profiteering by fuel distributors will be penalized ( Libya's fuel smuggling: a new Swiss connection is revealed ( Alternatives to fuel subsidies with cash payments delivered to Aldabaiba ( Libya evaluating subsidies for renewable energies – within existing fuel subsidies ( Prime minister Aldabaiba forms Ministerial committee to study reforming fuel subsidies, orders payment of family grant, increases pensions ( Brega claims it can assess demand, manage smooth fuel distribution and reduce its smuggling ( Libya's annual fuel bill rose to US$ 12 bn due to increased electricity production ( Fuel quantities, smuggling and subsidy reform – and increased oil production through PPP discussed at summit meeting ( 44 Brigade continues fight against fuel smugglers – LibyaHerald GPS truck tracking to be used to counter fuel smuggling, profiteering by fuel distributors will be penalized – LibyaHerald Libya's fuel smuggling: a new Swiss connection is revealed – LibyaHerald AG issues arrest warrants, freezes bank accounts of fuel smuggling petrol station owners. – LibyaHerald Fuel smugglers' sites bombed by Air Force, petrol stations shut down as part of continuing anti fuel smuggling drive – LibyaHerald PC Air Force supports NOC's anti-fuel smuggling initiative – LibyaHerald Libyan fuel smuggling is part of an international smuggling network: Attorney General's office – LibyaHerald Tunisians make large fuel smuggling bust on border – LibyaHerald Coast guard arrests two tankers on suspicion of fuel smuggling – LibyaHerald Attorney General investigates petrol company executives over fuel smuggling – LibyaHerald Brega to inspect all petrol stations in its continued anti-fuel smuggling drive – LibyaHerald
The Independent
2 hours ago
- The Independent
Best home security system without subscription
Finding the best home security system without a subscription is a priority for many homeowners who don't want to be tied into ongoing fees after the initial purchase. Paying hundreds of pounds for a full home security system is often only part of the story, since many companies charge a monthly or annual fee to make use of every feature. These fees often cover the cost of cloud video storage, making your home security camera and video doorbell recordings available online. Some companies also lock extra functionality, like battery and cellular backup systems, or facial recognition powered by AI, behind a paywall. Security specialists like Simplisafe and Verisure use your monthly payment to fund professional monitoring services. But what if you don't want to pay a monthly subscription fee for your home security system? You'll miss out on some of the features mentioned above, but in return you get an alarm and home security system that works without any ongoing costs. There are several companies – including Eufy, Blink, Yale and TP-Link – that sell security systems with no monthly fee. They often make cloud storage available as an optional extra, but since video recordings are recorded locally, on the system itself, the subscription is exactly that: optional. Why pay for a home security subscription? Before we get to the options for best home security system without a subscription, it's worth reminding ourselves why some systems demand a monthly or annual fee to unlock full functionality. Ring is perhaps the best-known example, since even its simplest video doorbells and security cameras require a subscription to work properly. Without paying the fee, Ring's cameras and doorbells don't store any video footage. They still stream live to the Ring app – so you can see who's at the door when they press the button. But past events can't be accessed, so you won't be able to see what motion triggered your security camera while you were asleep. Ring's alarm kit also requires a subscription to enable its cellular and battery-backup systems, which keep the system online during a broadband outage or power cut. Other systems, like those from Simplisafe and Verisure, charge a fee for cloud video storage, as well as for access to their 24/7 professional monitoring services. This is where trained agents respond to your alarm, make contact with you, and, if necessary, call emergency services. Best home security systems without a subscription At the time of writing, in mid-2025, my favourite home security system without a subscription is made by Eufy. This is because Eufy's security cameras and video doorbells all record footage locally, either to the device's own integrated storage, a microSD card, or to the company's HomeBase, which acts as a central hub with expandable storage. Eufy's third-generation HomeBase also adds artificial intelligence to your compatible cameras and doorbell, which helps your security system recognise friendly faces (like your family members) and not alert you when they're spotted. Cloud storage is offered by Eufy, priced from £3.99 to £12.99 a month, but it's purely optional. All other features are included in the up-front price of the hardware. It's a similar case with Yale, whose security system also works without a subscription. The Yale Smart Alarm kit is simpler than some rivals, with a fairly basic smartphone app. But it comes from a trusted brand and, unlike most other systems, includes a wireless external siren for mounting on an outside wall. The system can be expanded with more sensors, motion detectors and cameras, and a key benefit is how the devices have a 1km (0.62 mile) wireless range – far greater than that of Yale's rivals. Like Eufy, Yale offers an optional subscription. Called Secure Plan, this costs £9 a month and adds cellular backup to the alarm system, where it uses the mobile phone network to stay online if your broadband goes off. The plan also unlocks a system where up to three emergency contacts receive an automated call when your alarm is triggered; although, they are not contacted by a human, as with professionally monitored systems. Subscribing opens up cloud storage for Yale's cameras, too, and enables an AI-powered system for differentiating between the motion of people, pets, vehicles and package deliveries. Granted, it's a good-value package (and you get six months' free with some purchases), but Yale's system uses local storage by default, so paying the fee isn't strictly necessary. Without it, you still have a fully functional security system. Blink is another security system that runs without a subscription, but here things work a little differently. Blink cameras on their own require a cloud storage subscription, since they don't save footage locally. However, this changes if you also buy the Blink Sync Module 2, which costs £40 (or is often bundled with cameras for a discount) and acts as a hub for connecting multiple cameras and a doorbell. It also has a microSD card slot, into which you can fit up to 256GB of local storage – and avoid paying the monthly fee for saving footage in the cloud. Blink plans start at just £2.50 a month and unlock extra features, like improved live streaming, video sharing, photo capture and cloud storage, but paying isn't a necessity like it is with Ring, the other Amazon-owned security company. The pros and cons of not paying for a home security subscription Pros: Avoid ongoing costs (which also often increase over time) You control your recordings; no uploading to third-party servers Reduced feeling of being locked into a product ecosystem Keeps things simple, avoiding superfluous features Cons: No professional monitoring Misses out on extra functionality Limits your hardware choices Removes cellular backup (where available) Is paying a home security system subscription worth it? This depends on your budget and your security requirements. If all you want is a video doorbell on the front door and a security camera keeping an eye on your garden or drive, you'll be fine installing the devices and having them save footage locally. This even works if you want to build a larger system – perhaps even a whole home security platform with cameras, door sensors, sirens and motion detectors – if your primary goal is to be alerted to motion, then have that motion recorded. In this scenario, a subscription for extra features might not be worth it to you, especially if you pick Eufy products that have their own on-board storage and artificial intelligence. Subscriptions become worthwhile if you want more than these basics. If you want cloud storage, then paying a subscription is the only option, since companies don't offer this service for free. Similarly, if you want cellular backup for your Yale system, AI smarts from Blink, video storage from Ring or professional monitoring from Simplisafe and Verisure, then a subscription could be worth it.
Finextra
2 hours ago
- Finextra
Wells Fargo enlists Google Cloud for agentic AI play
Wells Fargo is expanding its relationship with Google Cloud to roll out agentic AI across its operations. 0 The US bank and Google Cloud teamed up in 2022 to launch an AI virtual assistant, called Fargo, for retail customers. The expanded relationship will see employees - including branch bankers, investment bankers, marketers, and customer relations and corporate teams — with AI agents and tools, taking advantage of Google Agentspace, a unified platform to build, manage, and adopt agents at scale. For its corporate and investment bank, Wells Fargo is building agents to help employees answer, triage, and summarise complex foreign exchange post-trade inquiries, as well as navigate policies and procedures across internal data sources and systems. For call centre and branch staffers, agents can automate routine tasks like balance inquiries and debit card replacements, reducing wait times. This, says Google, will free up time for bankers and traders, allowing them to focus more on client relationships. "Consider contract management, where Wells Fargo handles roughly a quarter of a million documents related to vendor agreements," says a Google blog. "A custom agent can rapidly query these extensive documents — identifying contracts with specific clauses, payment terms, contract types, and other important contract information, driving consistency and efficiency."
