Proactive Investors -
- FTSE 100 rises 32 points to 7970
- Encouraging update from web publisher Future
- Markets still focused on timing of rate cuts on both sides of Atlantic
New EV sales slump in March
Electric vehicles lost market share in the wider car sector in March, new data revealed.
It prompted the UK's industry body to ask the government for support through offering incentives for buyers.
New EV car registrations accounted for 15.2% of the total figure, down from 16.2% in 2023, the Society of Motor Manufacturers and Traders (SMMT) said.
SMMT chief executive Mike Hawes said: "Manufacturers are providing compelling offers, but they can’t single-handedly fund the transition indefinitely.
"Government support for private consumers - not just business and fleets - would send a positive message and deliver a faster, fairer transition on time and on target."
UK service sector grows slower than expected
Britain's services industry saw its output slow more than expected in March, providing new leverage for those pushing for earlier rate cuts.
S&P Global's services PMI came in at 53.1 in March, down from February's 53.8 and lower than the market's forecast of 53.4.
It marks the slowest expansion in the last four months.
"On the price front, input cost inflation remained broadly stable from the higher levels in the past six months, mostly due to rising salary payments, alongside increased fuel and transportation costs," S&P Global explained.
The FTSE 100 has held onto its early morning gains following the release and is sitting around 28 points up at 7,965.
Entain appoints interim CEO as chair
Entain (LON:ENT) has confirmed its interim chief executive Stella David will take over as chairperson at the betting giant later this year.
Current chairman Barry Gibson said he will be retiring at the end of September but could step down earlier if a permanent CEO is found.
Jette Nygaard-Andersen stepped down from the chief executive position at the end of last year after three years in the role.
Entain struggled under Nygaard-Andersen, its share price sunk 65% since 2021 and regulators fined the group £585 million for a Turkish bribery scandal.
Shares in Entain are up 2% at 774p.
Google to charge for AI, Trump sues social partners
Some titbits from the US this morning.
Google is reportedly exploring the possibility of introducing a subscription-based model for AI content, marking a potential shift from its traditionally free services, according to a FT report.
The Alphabet (NASDAQ:GOOGL) Inc-owned search giant might integrate advanced AI search features into its premium services, including the newly introduced AI assistant, Gemini, which could place select AI-powered functionalities behind a paywall, a first for Google's content.
Elsewhere, Amazon.com Inc (NASDAQ:AMZN) is axing workers at its Amazon Web Services (AWS) division, with job losses running into the 'hundreds', according to reports from the US.
And Donald Trump is suing the co-founders of the Trump Media & Technology Group Corp (NASDAQ:DJT), the parent company of Truth Social, for mismanagement, seeking to revoke their company shares valued at about $600 million.
Read more on Proactive Investors UK