UK's Sainsbury's to sell travel money business to Fexco
The business operates online and through 220 travel money bureaux inside Sainsbury's stores.
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Reuters
17 minutes ago
- Reuters
Russia's new car sales decline slows in July, Autostat says
Aug 5 (Reuters) - The decline in sales of new passenger cars in Russia slowed in July, Russian analytical agency Autostat said on Tuesday, with the first signs of recovery on show as some consumers took advantage of low prices in a heavily oversupplied market. Russia's car market collapsed in 2022 as foreign automakers left following Moscow's invasion of Ukraine. Car sales, a key gauge of economic activity, had been steadily recovering since late 2022, but the market entered a sharp decline this year due to high inflation, soaring interest rates and scrappage fees. Car sales fell 11.4% year on year in July, Autostat data showed, an improvement on the 27.6% slump in June. From January to July, sales were down 23.9% compared to the year-ago period at 651,029 units. Major Russian vehicle producers, including leading carmaker Avtovaz and truckmaker Kamaz, have blamed slowing sales on prohibitively high borrowing costs for consumers and producers, as well as short-sighted import policies. The central bank slashed its key interest rate by 200 basis points to 18% in late July, a move that is already supporting the car sector. Importers have a large stock of cars and are willing to get rid of them by offering discounts and better loan terms, Autostat Executive Director Sergei Udalov said on Tuesday. This supply was met in July with demand from people withdrawing money from their accounts as the central bank has cut rates, he added.
The Independent
19 minutes ago
- The Independent
NATO to coordinate regular and large-scale arm deliveries to Ukraine. Most will be bought from US
NATO started coordinating regular deliveries of large weapons packages to Ukraine after the Netherlands said it would provide air defense equipment, ammunition and other military aid worth 500 million euros ($578 million), most bought from the U.S. Two deliveries are expected this month. The equipment that will be provided is based on Ukraine's priority needs on the battlefield. NATO allies then locate the weapons and ammunition and send them on. 'Packages will be prepared rapidly and issued on a regular basis,' NATO said late Monday Air defense systems are in greatest need. The United Nations has said that Russia's relentless pounding of urban areas behind the front line has killed more than 12,000 Ukrainian civilians. Russia's bigger army is also making slow but costly progress along the 1,000-kilometer (620-mile) front line. Currently, it is waging an operation to take the eastern city of Pokrovsk, a logistical hub whose fall could allow it to drive deeper into Ukraine. European allies and Canada are buying most of the equipment they plan to send from the United States, which has greater stocks of ready military materiel, as well as more effective weapons. The Trump administration is not giving any arms to Ukraine. The new deliveries will come on top of other pledges of military equipment. The Kiel Institute, which tracks support to Ukraine, estimates that as of June, European countries had provided 72 billion euros ($83 billion) worth of military aid since the start of Russia's full-scale invasion in February 2022, compared to $65 billion in U.S. aid. Dutch Defense Minister Ruben Brekelmans said that 'American air defense systems and munitions, in particular, are crucial for Ukraine to defend itself.' Announcing the deliveries Monday, he said Russia's attacks are 'pure terror, intended to break Ukraine.' Germany said Friday that it will deliver two more Patriot air defense systems to Ukraine in the coming days. It agreed to the move after securing assurances that the U.S. will prioritize the delivery of new Patriots to Germany to backfill its stocks. These weapon systems are only made in the U.S.
BBC News
19 minutes ago
- BBC News
Santander Cycles down due to software upgrades, says TfL
More than 12,000 Santander Cycles across the capital are out of service due to an IT issue, Transport for London (TfL) has software upgrades had overrun and left users are unable to hire the bikes and e-bikes via the Santander Cycles app or docking stations on Tuesday commuter Aodh Ó Daighre told BBC London he unsuccessfully visited four different stations in an attempt to hire a apologised for the disruption and said they are working to "restore services as soon as possible". Mr Ó Daighre added: "I got to my usual station and tried to release a bike with my fob, which wouldn't work, so I tried to log into the app, which also wasn't working."I walked further onto the next station and also tried to use the screen on the terminal but it said that no bikes were available at the station. "[This was] particularly annoying as all the stations were over 80% full."
