Munich Re posts Q2 profit of 2.1 bln euros, above expectations
The reinsurer said net profit was around 2.1 billion euros ($2.45 billion) in the second quarter, above a consensus forecast of 1.62 billion euros.
($1 = 0.8556 euros)
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The Sun
24 minutes ago
- The Sun
Range Rover to remove convenient feature for next-gen model as designer bizarrely calls it ‘dirty'
THE ELECTRIC Range Rover will not feature a front trunk, according to the designer of the hotly anticipated SUV. The vehicle is yet to officially debut, with only teasers of its design revealed so far - although fans will be pleased to know the EV version closely mirrors that of the combustion-engine model. 4 4 But one convenient feature found in many electric vehicles won't be included - in a decision partly based on customer feedback. The car's designer, Lynfel Owen, recently referred to the front of the car as the "dirtiest part" and questioned why anyone would want to lean against it to use a front trunk. In an interview with CarExpert, Owen said: 'Why would I want to lean against the dirtiest part of the car to put stuff in?' He explained his reasoning in greater detail: 'We spoke to our customers… none of them have an issue [with] lack of storage space. 'The rear cargo space is exactly the same. We haven't had to raise the floor. The only compromise we have to make is we're not able to offer a seven-seat derivative.' Owen has spent the last decade overseeing JLR's transition to electric power, having risen to chief engineer of vehicle engineering for the Range Rover, Range Rover Sport and Defender models. 'I pretty much only ever worked on Range Rover,' he said. 'I've done a few other projects. I didn't work on the [Jaguar] I-Pace. I was working on the previous-generation Range Rover.' To that end, the I-Pace - launched under the Jaguar brand as the first premium all-electric SUV from any manufacturer when it was revealed in 2016 - became infamous for reliability issues, particularly with its electric drivetrain and battery pack. Its poor customer satisfaction prompted Jaguar Land Rover to learn from its failures, focusing on reliability, improved thermal management and customer-centric design in the development of the Range Rover Electric. Owen said: 'We're making sure we learn from, you know, our mistakes with respect to I-Pace. 'So we're testing all aspects of the car… we've just had a northern hemisphere winter that we've completed, so we've been doing our low-mu testing on the frozen lakes.' He added: 'Some people have got [chargers] bolted on. Their garage might have two or three cars… [so you don't have to use a] 15 metre cable. 'Cabin comfort. Battery temperature. Whether it's to cool it down, whether it's to warm it up. Recovering heat from the air at minus 15… It also reduces the heating energy consumption by over 40 per cent [compared to I-Pace].' This includes the decision to forgo a front trunk, with the rear cargo volume remaining unchanged from the combustion-engine version and the 117-kWh battery pack accommodated without raising the floor. This approach contrasts with the I-Pace, which offered a small front storage compartment. Indeed, due to packaging constraints, the electric Range Rover will only be available with two rows of seats - which rules out a seven-seat option. While a spare wheel will be offered, it will reduce luggage capacity as it will sit above the cargo floor. Much like the upcoming Range Rover, Mercedes' electric G-Class also lacks a front trunk - although they compensated with a uniquely styled tailgate-mounted cargo box. The electric Range Rover will not compete with the G580, Owen claims, as it offers unmatched off-road capabilities, combined with Range Rover's famed luxury. The electric Range Rover's world premiere is expected later this year, with deliveries expected to begin in 2026.
The Sun
24 minutes ago
- The Sun
I was commuting 3 hours a day to my dead end job & barely saw my kids – now my self-taught side hustle has made me £327k
A WOMAN has revealed how she ditched her dead end job for a side hustle that makes her £327,000. Desiree Hill, 39, was sick of travelling three hours a day to her medical assistant job, where she earned £28,000. 2 2 She worked long hours, and never got to see her kids, which she says "took a toll", on her mental health. After getting divorced in 2018, Desiree, from Atlanta, Georgia, decided that she needed to earn some extra cash to provide for her two children. After deliberating about how to do this, she decided that it would be a great idea to buy, repair and resell rundown cars. "Everybody needs transportation, that's never going to stop, no matter what", she told CNBC Make It. "I knew that it was something that I could spend a small amount on, and potentially make a lot of profit." Desiree's first project was an old truck that she bought for £893 and did up herself, despite having no prior experience. Using Google and YouTube, she was able to teach herself how to fix the vehicle, which she realised just needed a replacement throttle which set her back just £44. "I just fixed this vehicle with a $60 part, and I didn't have to pay anybody to do it", she said. Desiree went on to sell that first truck for £2977, meaning she made £2040 profit. "It was almost like a high. I wanted to keep doing it", she said. I earn cash by selling 'actual rubbish' on eBay - I flogged a freebie I found on the floor by a bin for £10, it's crazy She kept flipping and selling cars whilst working full time in healthcare. After work, she would make dinner and then put the kids to bed before working on the cars until three in the morning, even though she had to be up at six for work. In 2020, Desiree flipped and sold 38 cars, and decided that now was the time to leave her job. She documented her journey on social media, which helped to build her client base. Side hustles in numbers Based on new research from Finder, an estimated 22.8 million Brits are using side hustles to top up their income. Among those aged 18-23, 68 percent have a side hustle in 2024. Those aged 24-42 aren't far behind, with 65 per cent having an additional source of income. Side hustles are less popular among older generations, with 40 percent of those aged 43-54 having one. Whereas 23 percent of people aged 55-73 and just 7 per cent of those aged 74 and over are earning extra cash this way. The mum now has 120,000 TikTok followers, and in 2021 launched a mobile repair service, where she would travel to people's houses and fix their vehicles. She found this to be much less stressful, as she didn't have to worry about whether the car was going to sell, and made exactly the same amount of money as the car flipping. Desiree decided to switch from flipping cars to being a mechanic, and her business grew so rapidly that she was able to hire a mechanic and rent a repair space in a shop for £297. A kind client then offered her a whopping £7500 loan, which enabled her to buy a larger space, and she now owns Crowns Corner Mechanics, which raked in £327,000 in 2024. She now gets to spend much more time with her family, and her kids now even help out at the shop.
Reuters
an hour ago
- Reuters
EU chief von der Leyen heads to Scotland for trade talks with Trump
BRUSSELS/EDINBURGH, July 26 (Reuters) - EU Commission President Ursula von der Leyen headed to Scotland on Saturday ahead of a meeting with U.S. President Donald Trump on Sunday afternoon, commission spokespeople said, as EU officials said the two sides were nearing a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a "highly respected" leader. He repeated his view that there was a 50-50 chance that the U.S. and the 27-member European Union could reach a framework trade pact, adding that Brussels wanted to "make a deal very badly". If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $550 billion accord agreed with Japan earlier this week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($109 billion) of U.S. goods in case the talks collapse. To get a deal, Trump said the EU would have to "buy down" that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15% tariff on EU goods imported into the U.S., mirroring the U.S.-Japan deal, along with a 50% tariff on European steel and aluminum. The broad tariff rate would be half the 30% duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on automobiles, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict jeopardized $9.5 trillion of business in the world's most important commercial relationship.
