Business

General Motors has reported a sharp fall in profits after taking a $1.1 billion hit from new import tariffs introduced under President Trump’s escalating trade war.

The US carmaker said its second-quarter core profit dropped by 32 per cent to $3 billion, and warned that the financial impact would worsen in the third quarter.

The Detroit-based company, which remains America’s largest carmaker by volume, attributed the drop to new duties on vehicles manufactured in Canada, Mexico, and South Korea—a key part of its global production network. Revenue also fell by nearly 2 per cent year-on-year to $47 billion.

In a letter to shareholders, Chief Executive Mary Barra said GM was taking aggressive action to mitigate the impact of the tariffs, including $4 billion of new investment in US assembly plants to reduce reliance on imports. The company expects to build more than 2 million vehicles annually in the US as it scales domestic production.

“We are working to greatly reduce our tariff exposure,” Barra wrote. “Despite the near-term pressure, we remain focused on a profitable, flexible future.”

Chief Financial Officer Paul Jacobson said the company still expects trade-related costs to reach as much as $5 billion, though GM aims to offset at least 30 per cent of that through a combination of manufacturing shifts, targeted cost savings, and pricing strategy.

Shares in General Motors fell sharply on the news, dropping 6.9 per cent to $49.52 in early trading in New York.

The second-quarter results were also impacted by higher warranty costs, which GM said were partly linked to software issues affecting early batches of electric vehicles. The company reported 46,300 EV sales in the second quarter, up from 31,900 in Q1, but acknowledged that EV sales growth is slowing across the US.

The pace of growth has been further complicated by the impending expiration of the $7,500 federal EV tax credit, set to end in September for many GM models under the rules of the Inflation Reduction Act.

Despite these challenges, Barra reiterated GM’s long-term commitment to electric vehicles.

“Even as EV growth moderates, we remain focused on a profitable electric future,” she said. “Our north star continues to be long-term EV leadership supported by our domestic battery strategy and a more adaptable manufacturing base.”

General Motors’ warning about deepening tariff costs underscores the pressure facing US manufacturers as they navigate an increasingly protectionist trade environment. Trump’s return to the White House has already prompted a number of companies to shift supply chains and expand domestic production in response to his administration’s aggressive tariff strategy.

While GM says it is confident the financial burden will ease as new bilateral trade agreements emerge, the short-term impact has clearly rattled investors—raising fresh concerns about the long-term cost of navigating geopolitically driven industrial policy.

Read more:
General Motors profits tumble by a third as Trump tariffs deliver $1.1bn blow

Andrew Bailey, the governor of the Bank of England, has warned Chancellor Rachel Reeves that her government’s plans to roll back banking regulations could destabilise the UK’s financial system and risk triggering a future financial crisis.

Appearing before the Treasury select committee on Tuesday, Bailey said it would not be “a sensible” time to unwind safeguards such as bank ringfencing, which was introduced after the 2008 global crash to separate riskier investment banking from retail operations. The comments came in stark contrast to Reeves’ Mansion House speech, where she described the current regime as a “boot on the neck” of business.

Bailey, who now also chairs the Financial Stability Board, acknowledged that some policymakers may believe “the financial crisis is now way in the past” but stressed that from his perspective, “there remains a live threat to financial stability” that justifies retaining robust safeguards.

“For those of us who were veterans of sorting the problems of [the financial crisis] out, the risk is very much still there,” Bailey warned.

His comments came as new figures from the Office for National Statistics (ONS) revealed that UK government interest payments on debt surged to £16.4 billion in June, the second-highest figure for that month on record. The UK also borrowed £20 billion in June, outpacing forecasts from the Office for Budget Responsibility, and adding pressure on the Chancellor ahead of the autumn budget.

Despite the spike in borrowing costs, Bailey downplayed the UK-specific risk, saying it was part of a wider global trend driven by market volatility, geopolitical uncertainty, and higher deficit spending across major economies.

“We’ve seen an increase in term premiums and steeper yield curves across the board,” Bailey said. “This is a global phenomenon—not unique to the UK.”

The yield on the 30-year gilt has climbed to 5.43%, up from 4.67% a year ago, while the US equivalent has also risen sharply to 4.93%.

Bailey also pointed to President Donald Trump’s renewed trade war and “reciprocal tariffs” policy as a key driver of market volatility, saying that investors were reducing their exposure to dollar-denominated assets in response.

“The most crowded trade in the market at the moment is short dollar,” Bailey said, citing conversations with major institutional investors.

The dollar index has fallen by nearly 10% since January, while a breakdown in long-established market correlations has created significant uncertainty across asset classes.

“Since Trump first floated his tariffs in April, we’ve seen breakdowns in established correlations,” Bailey said. “Markets are rebalancing in response.”

Although stock markets initially slumped, they have since rallied sharply. The FTSE 100 this week closed at an all-time high above 9,000, buoyed by global tech stocks and investor hopes of monetary easing later this year.

Reeves’ plan to review and potentially dismantle the ringfencing regime—a central pillar of post-2008 banking reform—has drawn criticism from financial experts and former regulators including Sir John Vickers, who designed the original framework.

While the Chancellor argues that deregulation is essential to reviving Britain’s sluggish economy, critics fear the move could expose the public to the same systemic risks that triggered the last banking crisis.

Bailey stopped short of directly criticising Reeves but made it clear he would not have used language that described regulation as “a boot on the neck of business.”

As the Labour government pushes forward with its pro-growth reform agenda, Bailey’s warning stands as a stark reminder that financial stability and long-term risk management remain a delicate balancing act—especially at a time of elevated borrowing costs and global market disruption.

Read more:
Andrew Bailey warns Rachel Reeves that City deregulation could reignite financial crisis

AstraZeneca has announced plans to invest $50 billion in the United States by the end of the decade, responding to mounting pressure from the Trump administration for global pharmaceutical firms to shift manufacturing and research operations to American soil.

The FTSE 100 company said the investment will help it reach its target of $80 billion in annual sales by 2030, with half of that revenue expected to come from the US, its largest market. Currently, AstraZeneca derives 42 per cent of its revenues from America.

A key component of the investment includes the construction of a new manufacturing facility in Virginia dedicated to the company’s growing portfolio of chronic disease treatments, including weight management and metabolic therapies. AstraZeneca described the project as the largest single investment in a facility in its history.

The announcement comes amid increasing political pressure from the White House, where President Donald Trump has threatened to impose tariffs on pharmaceutical imports. The administration has launched an investigation into the reliance on foreign-produced medicines under the Trade Expansion Act, citing national security concerns. Trump has warned that tariffs could be imposed as early as the end of the month, beginning at a low rate before escalating significantly if companies do not shift operations to the US.

US Commerce Secretary Howard Lutnick welcomed AstraZeneca’s commitment, stating that the investment aligns with the administration’s broader goal of ending American reliance on foreign pharmaceutical supply chains. “President Trump’s policies are focused on ending this structural weakness,” Lutnick said.

While the investment strengthens AstraZeneca’s position in the US, it also raises fresh questions about the company’s long-term commitment to the UK. Headquartered in Cambridge, AstraZeneca has declined to comment on reports that its chief executive, Sir Pascal Soriot, has privately expressed interest in relocating the company’s primary listing to the US. Although its American depositary receipts already trade in the US, a shift in listing could have significant implications for the UK stock market.

In January, AstraZeneca cancelled a planned £450 million expansion of its UK vaccine site, blaming the British government for missing a deadline to confirm funding support. At the time, the decision sparked a political row and renewed debate over the UK’s competitiveness in life sciences.

Soriot, who has led the company since 2012, warned in April that the concentration of pharmaceutical investment in the US was a signal that Europe must do more to support innovation or risk losing industry jobs to North America. In a statement released alongside Tuesday’s investment announcement, he said the new commitment “underpins our belief in America’s innovation in biopharmaceuticals.”

The company’s latest pledge builds on a $3.5 billion investment announced last November aimed at increasing its US-based supply capabilities. Analysts at JP Morgan, AstraZeneca’s joint house broker, said the expanded US footprint strategically positions the company to weather potential industry headwinds under the Trump administration, including drug pricing reforms and changes to clinical trial regulations.

JP Morgan estimated that around 80 per cent of the products AstraZeneca sells in the US are already manufactured domestically. The new investment could push that figure closer to full self-sufficiency. However, the bank does not believe that the investment makes a change in the company’s UK listing status more likely, pointing out that many large pharmaceutical firms have made similar US-focused investments without altering their market listings.

AstraZeneca’s announcement follows a broader trend among global pharmaceutical companies moving to reinforce their US operations. Swiss drugmaker Roche committed $50 billion to the US earlier this year, while Johnson & Johnson pledged $55 billion in new investment over four years. French company Sanofi has announced plans to invest at least $20 billion in the US by 2030, and Eli Lilly said in February it would build four new manufacturing sites, bringing its total US investment since 2020 to over $50 billion.

While some observers suggest that these investment plans were already in progress due to the scale and profitability of the US pharmaceutical market, the renewed urgency from the Trump administration has accelerated timelines and forced companies to make public commitments.

President Trump has accused pharmaceutical companies of profiteering and price gouging, saying in a White House address in May that the country would no longer tolerate such practices. He has proposed implementing “most favoured nation” pricing, tying drug costs in the US to the lower prices charged in other developed countries.

With the administration’s rhetoric and policies turning increasingly protectionist, AstraZeneca’s $50 billion commitment signals a significant pivot toward the US and underscores the geopolitical and economic factors reshaping the global pharmaceutical landscape. Whether Europe and the UK can respond with policies robust enough to compete remains to be seen.

Read more:
AstraZeneca to invest $50bn in US amid pressure from Trump administration

In areas where video surveillance is installed, fewer crimes are committed. This is due both to the engineering task of properly placing cameras and to the psychological and behavioral patterns of offenders.

It is no secret that a well-designed camera layout helps to:

Detect violations,
Recognize faces and vehicle license plates,
Monitor events in real time,
Provide evidence of guilt.

There are many software tools available for designing video surveillance systems, but in the United Kingdom, the most popular among designers is IP Video System Design Tool. Its main advantage lies in 3D camera view modeling—you can preview what each camera will capture in advance.

Cameras are primarily installed at entrances, exits, and cash registers for identification purposes. Then they are placed inside the premises for general monitoring. Installing cameras in elevators, stairwells, parking lots, and vehicle entry/exit points is also extremely beneficial.

Now let’s turn to the psychological effect of surveillance itself. According to a study by the Urban Institute, conducted in three cities: Baltimore, Chicago, and Washington , as well as a guide for law enforcement written by Arizona State University , it can be confidently stated that video surveillance reduces crime rates.

Video surveillance significantly enhances street safety. When people see that investments are being made in security, they become more alert to their surroundings and more conscientious about following rules.

It can be said with confidence that criminals deliberately avoid areas under surveillance. Knowing they are being watched causes anxiety, they begin to second-guess their actions, feel uneasy, and become more nervous.

This psychological effect changes how risk is perceived: CCTV increases the perceived likelihood of being caught, thereby reducing the motivation to commit offenses.

The Urban Institute study supports these findings and highlights substantial economic benefits. In Chicago, the video surveillance system helped save approximately $12 million per year by preventing crimes, with installation costs of only $8 million. Although initial investments may be high, ongoing maintenance is considerably less expensive. In Baltimore, the installation of just 50 cameras led to a noticeable decrease in crime within the first few months, improving public safety.

Conclusion: Well-designed and maintained, surveillance systems enhance public safety, reduce crime rates, and offer strong economic benefits. As shown in cities like Chicago and Baltimore, even a modest investment in CCTV can result in significant savings and improved community security.

Read more:
Video Surveillance as a Guardian of Safety: Psychological Effects and Engineering Aspects

Choosing the right rechargeable pod-style vape kit deserves attention. These factors influence your vaping and satisfaction.

When you know what to look for, you’ll pick a kit that meets your vaping needs. There are factors to consider whether you want to stop smoking or change to something safer. The right kit will enhance your experience.

This article outlines the key features of a high-quality rechargeable pod vape kit. With so much on the market, reading it helps you make a confident and informed choice.

Understanding Rechargeable Pod Vape Kits

Rechargeable pod systems offer convenience and customisation. They attract users who want more than what disposables can give.

What Makes Pod-Style Vapes Unique

Pod vapes have a cartridge, or “pod,” to hold the e-liquid that’s heated by the coil inside the device. The majority of pods are refillable; there are also pre-filled ones. They’re simple. You do not need to adjust complicated settings or create coils. The compact design, often pocket-sized, makes them perfect for travel or discreet use.

These are draw-activated. They provide an MTL (mouth-to-lung) experience like traditional smoking. That is why they are ideal for those quitting cigarettes.

Disposable vs. Rechargeable Kits: Key Differences

Disposables, in the context of vaping pod kits, means single-use kits. When you deplete the battery charge or e-liquid, you discard the entire piece. Rechargeable pod kits have a built-in battery that you can charge and reuse many times.

Though disposables may appear cheaper in the beginning, they’re more costly in the long run. Rechargeable kits allow you to choose your preferred e-liquid flavours and nicotine levels. The initial investment is usually surpassed by the control and long-term savings.

Considerations in Choosing a Rechargeable Pod-Style Vape Kit

By understanding technical and functional features to consider, you’ll avoid low-performing kits. It also allows you to concentrate on quality-built devices.

Battery Capacity and Charging Options

Battery life can either make or break your vaping experience. A good rechargeable pod kit should have enough capacity to last a full day of moderate use. Kits with 500 mAh to 1000 mAh batteries are a good balance between size and runtime.

USB-C charging is now standard in most modern kits. It’s faster and more convenient than old ports. Devices that support pass-through charging let you vape while the battery charges. That’s a bonus for heavy users.

Pod Design and E-Liquid Compatibility

The frequency of refills is dependent on the pod capacity. A standard pod is 2 ml and is typically enough for occasional users. Find kits that have easy mechanisms to fill that ensure less leakage. Top-fill or side-fill designs are the best to work with.

Make sure the pod material doesn’t wear off and doesn’t affect flavour. Compatibility with many e-liquids gives you more options. This variety includes nicotine salts and freebase nicotine for different preferences.

Coil Technology and Vapour Quality

Coil type affects flavour and cloud. Mesh coils are popular now because they heat evenly and last longer. They also produce a fuller flavour than traditional wire coils.

Devices that allow coil replacement instead of replacing the whole pod are more cost-effective. These also tend to perform better, especially for users who prefer smoother hits with richer taste.

User Experience and Device Performance

The best pod vape kits are not just about specs. They also deliver a smooth experience for daily use.

Ease of Use for Beginners and Everyday Users

Most pod kits are designed to be simple. Features like auto-draw activation and magnetic pod connections make it easier to use. Clear battery indicators also make it seamless. A compact button layout or buttonless operation means fewer complications during use.

Portability and Discreet Design

Users focus on size and weight when choosing a pod kit. Devices like the BM6000 have gained attention for their small build without sacrificing power. It is perfect if you have a kit that fits inside your pocket or bag for work, travel, or vaping on the go in public.

Colour options and finishes may vary. A slim profile with solid build quality usually means better engineering. A well-designed mouthpiece also adds to the comfort during extended use.

Safety and Build Quality Considerations

Build quality is more than just looks. It also determines how safe and durable the device is under daily use.

A solid pod vape kit should have basic protections like short circuit prevention. It should also have overcharge protection and auto shut-off features. These features extend battery life and reduce hazards.

Look for a firm connection between the pod and device. Loose or wobbly pods are usually signs of poor build or design flaws. Leak prevention mechanisms like silicone seals reduce mess and keep it clean. The airflow control system also plays a role in creating a safer and more reliable vaping experience.

Cost Efficiency and Long-Term Value

Affordability is not just about price at checkout. A cost-effective vape kit should perform well over time without too many replacements.

Here are some factors that add long-term value:

        Refillable pods over pre-filled cartridges.
        Replaceable coils instead of disposable pods.
        Durable batteries that hold a charge well after months of use.
        Fast charging support for better device uptime.

Surveys show that about 68% of vapers consider battery life an important factor when choosing a device. A similar percentage also prioritises refillability when making their selection. Models with replaceable parts and high reliability last longer and need fewer upgrades.

Final Thoughts

The search for a good rechargeable pod vape kit isn’t only about the comparison of specifications. Search not only for a durable device but also for one that will give consistent vapour.

Moreover, look for a kit with an easy-to-use design and long-term value. You need to prioritise these features for a superior vaping experience. Thinking ahead implies satisfaction, convenience, and control over your vaping experience.

Read more:
Key Features to Look for in a Rechargeable Pod-Style Vape Kit

In 2025, Asset and Liability Management (ALM) is no longer the quiet function operating behind the scenes. It has become a core pillar of strategic decision-making in banks, balancing profitability, liquidity, and risk under increasingly volatile market and regulatory conditions.

As interest rate cycles become more dynamic, liquidity risks intensify, and climate and macroeconomic shocks accelerate, the ALM function has emerged as a key line of defence and a strategic compass.

This article explores the state of ALM in 2025 and how banks can transform their ALM practices into a strategic asset. It also introduces Wolters Kluwer’s OneSumX for ALM as a critical enabler of modern ALM strategies through integrated data, real-time analytics, and regulatory compliance capabilities.

The New Reality of ALM: Volatility, Regulation, and Risk Convergence. Interest Rate Risk and Market Turbulence

After more than a decade of low interest rates, the global banking system has entered an era of monetary tightening, inflation shocks, and policy unpredictability. Interest Rate Risk in the Banking Book (IRRBB) has re-emerged as a top concern, demanding dynamic simulation models and strategic balance sheet steering.

Banks in 2025 are now:

Modelling multiple interest rate scenarios across geographies
Stress testing the impact of parallel and non-parallel rate shifts
Actively hedging through derivatives and matched funding strategies

Liquidity Risk and Basel IV

Liquidity risk has become more nuanced with evolving Basel IV requirements, the implementation of NSFR (Net Stable Funding Ratio) and LCR (Liquidity Coverage Ratio), and increasing scrutiny of contingent liquidity plans.

Supervisors now expect:

Intraday liquidity monitoring
Behavioural modelling of non-maturity deposits (NMDs)
Integration of stress scenarios into liquidity buffer strategies

Regulatory Convergence

ALM is no longer isolated from the broader regulatory landscape. It is deeply connected to:

ICAAP/ILAAP requirements
IFRS 9 and its implications on expected credit loss forecasting
ESG and climate risk regulation affecting asset-liability mismatches

Banks must adopt a holistic view of risk across capital, liquidity, interest rate, and ESG domains.

Strategic ALM: From Compliance to Optimization. Proactive Balance Sheet Management

Strategic ALM solutions allow banks to go beyond regulatory compliance. By optimizing asset-liability profiles, institutions can:

Protect Net Interest Margins (NIM)
Enhance funding stability
Align investment duration with liability structures

Dynamic simulation and optimization tools enable scenario-based decision-making that factors in business strategy, not just regulation.

2. Data Granularity and Behavioural Modelling

Accurate ALM now hinges on granular, high-quality data and behavioural assumptions. Banks must model:

Customer prepayment behaviour
Early withdrawal probabilities
Embedded options in retail and wholesale products

In 2025, behavioural assumptions are no longer static—they are validated, challenged, and refined in real time.

Intraday and Real-Time Risk Management

Legacy batch processes are being replaced by real-time ALM capabilities. Treasury and risk managers need access to intraday dashboards, scenario tools, and automated alerts to act decisively in volatile environments.

The Technology Mandate: Why ALM Requires Enterprise-Grade Infrastructure

As ALM evolves, spreadsheet-based and fragmented solutions expose banks to operational, compliance, and financial risk. The complexity of modern ALM demands:

Integrated data architecture across risk, finance, and treasury
Scenario engine capable of multi-dimensional stress testing
Audit trails and governance layers for regulatory scrutiny
Modular flexibility to adapt to new regulatory regimes

This is where Wolters Kluwer’s OneSumX for ALM provides significant strategic value.

OneSumX for ALM: An Enterprise Solution for Next-Gen Balance Sheet Management1. Integrated, Multi-Dimensional ALM Platform

OneSumX for ALM is a comprehensive solution that enables banks to manage and optimize their balance sheets under various risk and business constraints.

It provides:

Interest Rate Risk and Liquidity Risk measurement
Dynamic scenario simulation and stress testing
Behavioural modelling of non-maturity products
Forecasting and budgeting capabilities
Full alignment with regulatory reporting (NSFR, LCR, IRRBB)

Real-Time Analytics and Scenario Planning

The platform’s high-performance engine allows treasury teams to simulate thousands of forward-looking scenarios. These range from rate curve shifts to business-driven funding strategies, providing rapid insight into the impact on earnings, capital, and liquidity.

Banks can:

Optimize FTP (Funds Transfer Pricing)
Simulate hedging strategies
Test regulatory and internal stress cases
Visualize key metrics with interactive dashboards

Data Integration and Governance

OneSumX integrates seamlessly with upstream systems—core banking, treasury, risk, and finance. It supports:

Data lineage and quality checks
Regulatory data reconciliations
Centralized data governance and security

This unified view is critical for producing consistent, defensible ALM outputs under supervisory examination.

Future-Ready and Modular

Built on a modular architecture, OneSumX is designed to evolve. It can support:

ESG and climate risk ALM extensions
IFRS 9 and IRRBB integration
Basel IV and local regulatory requirements
Emerging risk indicators and KPIs

This adaptability ensures banks are prepared not just for today’s ALM challenges, but for tomorrow’s regulatory and strategic transformations.

Implementing Strategic ALM: A Framework for BanksStep 1: Define Strategic Risk Appetite

Boards and ALCOs must define tolerances for IRRBB, liquidity risk, and funding mismatches. These thresholds should drive limit-setting, business strategy, and hedging policies.

Step 2: Build an Integrated ALM Data Architecture

Unify data across sources into a single platform. Ensure data quality, traceability, and audit readiness. Automate ingestion pipelines where possible.

Step 3: Implement Dynamic Simulation Tools

Use platforms like OneSumX to build forward-looking simulations across rate environments, product strategies, and economic conditions. Go beyond static shocks to multi-path stress testing.

Step 4: Optimize Transfer Pricing and Capital Allocation

Use ALM outputs to refine FTP models, allocate capital efficiently, and incentivize business lines to act in alignment with risk-adjusted returns.

Step 5: Align ALM with Regulatory Reporting and Disclosure

Ensure ALM metrics are consistent with ICAAP, ILAAP, Pillar 3 disclosures, and supervisory expectations. Use a single platform to support internal and external reporting.

The Future of ALM: What’s Next?1. Climate Risk and Sustainable Balance Sheet Steering

Regulators are increasingly expecting banks to incorporate climate scenario analysis into ALM. This includes modelling the impact of transition and physical risks on deposit stability, loan prepayment behaviour, and funding costs.

AI and Machine Learning

AI-driven behavioural modelling is gaining traction, offering predictive insights into customer behaviour under various economic and climate conditions. While regulatory buy-in is still evolving, early adopters are gaining forecasting advantages.

Strategic Liquidity Optimization

Banks are developing internal liquidity optimization engines to dynamically manage collateral, pricing, and intraday positions. This moves ALM from a control function to a profit-enhancing centre.

Integration of ESG, ALM, and Risk Strategy

The convergence of ESG, capital, and liquidity considerations means ALM must interface seamlessly with sustainability strategies. Asset portfolios must be optimized not only for risk-return, but for sustainability-adjusted value.

Conclusion: A New Age of Strategic ALM

In 2025, Asset and Liability Management is a cornerstone of strategic and regulatory resilience. Banks that elevate ALM from a compliance task to a strategic enabler will be best positioned to navigate volatility, meet regulatory demands, and optimize performance.

Solutions like Wolters Kluwer’s OneSumX for ALM provide the infrastructure and intelligence needed to support this transformation. With its integrated data architecture, real-time analytics, and regulatory alignment, OneSumX is a platform built not just to comply, but to lead.

In a world where risk is dynamic and regulation is intensifying, your ALM strategy can seriously affect your competitive edge.

Read more:
Asset and Liability Management in 2025: Strategic Risk & Regulatory Convergence

Motor racing has emerged as a dominant force in the sports sponsorship strategy of automotive brands across the Americas in 2025, accounting for 160 deals and approximately $380.6 million in annual value, according to a new report from GlobalData.

The analysis, published in GlobalData’s “Sponsorship Sector Report – Automotive – Americas 2025”, highlights that motor racing represents nearly 20% of all automotive sports sponsorship activity in the region this year, as brands leverage racing’s tech-forward platform to showcase innovation and build consumer engagement.

“Motor racing offers automotive companies a unique space for technical collaboration and brand alignment with high-performance values,” said Olivia Snooks, Sports Analyst at GlobalData.

Toyota leads with NFL partnership

The report identifies Toyota’s partnership with the NFL as the single most valuable automotive sponsorship deal in the Americas in 2025. Worth an estimated $40 million annually, the deal designates Toyota as the official automotive partner of the league, positioning the brand to engage with millions of fans across the US.

“Toyota has focused around 25% of its annual sports sponsorship budget in the region on the NFL,” Snooks noted. “This enables the brand to amplify visibility, engage passionate audiences, and promote its vehicles through the NFL’s massive reach.”
In addition to its NFL presence, Toyota maintains high-profile relationships in motorsport with NASCAR, Joe Gibbs Racing, and the MoneyGram Haas F1 Team.

Goodyear’s NASCAR dominance

Motor racing’s highest-value deal is Goodyear’s agreement with NASCAR, which includes official tyre supplier status across its top three national series, and title sponsorship of the Goodyear 400 race in Darlington, South Carolina. The partnership is valued at $20 million annually.

These headline deals are part of a broader ecosystem of 725 sports sponsorship agreements made by automotive brands across the Americas in 2025, representing a total annual value of approximately $1.13 billion. Notably, 96% of that spend is directed toward North American sports properties.

US leagues dominate sponsorship value

Each of the top 10 highest-value automotive sponsorship deals in the region is tied to North American sports leagues, including the NFL, NBA, MLS, and NHL—a testament to their commercial draw.

“When evaluating the commercial impact of these major leagues, it’s clear that they are driving significant value for automotive brands,” said Snooks.

While motor racing commands a large share of the sponsorship volume, team-based agreements in traditional US sports continue to represent the largest proportion of total annual expenditure.

The report underscores the ongoing appeal of sports sponsorship to automotive firms not only as a branding platform, but also as a means of aligning with innovation, performance and lifestyle trends.

With a blend of global exposure, loyal fan bases, and opportunities for cutting-edge technology demonstration, motor racing is likely to retain its strategic relevance to automotive marketing plans in years to come.

“The synergy between sport and mobility is only getting stronger,” Snooks concludes. “Motor racing, in particular, allows brands to connect innovation with inspiration—and that’s a powerful formula for visibility and consumer trust.”

Read more:
Motor racing dominates automotive sponsorship spend across the Americas in 2025, according to new data

A Surrey fish and chip shop owner has been hit with a £40,000 fine by the Home Office for hiring a man who allegedly forged his identity—despite the business following standard hiring processes and paying the employee through HMRC’s PAYE system.

Mark Sullivan, who runs Big Fry Fish & Chips in Egham, described the penalty as “devastating” and warned it could spell the end for his small business. The case has fuelled growing calls from business groups to reform civil penalty rules that treat large corporations and small independents alike, with no sliding scale for size or intent.

The fine was issued after a March 2024 raid by immigration officers, who removed an employee alleged to have used another person’s identity, including a forged passport. When the man was hired in early 2023, he provided a national insurance number, student loan repayment records, and housing benefit receipts. The only clerical error, Sullivan says, was not seeing the original passport.

“We owned up when we found out,” said Sullivan. “We told them what happened, but we were given no right to defend ourselves.”

A lawyer warned him that appealing the fine could double it to £80,000, so he opted to pay the reduced £28,000 within 21 days, though he maintains the hire was made in good faith.

According to Home Office correspondence, only original ID documentation—such as a genuine passport—is considered valid for right-to-work checks. Other paperwork like NI numbers or housing benefit letters are not sufficient proof of legal employment status.

Despite cooperating fully and receiving a £5,000 discount, Sullivan was told he could have received a further £5,000 off if he had reported his suspicions to the UK Visas and Immigration hotline. However, Sullivan says there were no red flags at the time.

“He had a bank account, a university education, housing benefit, a student loan. Where were the red flags for us?” Sullivan asked. “He was already working when he came to us.”

The Federation of Small Businesses (FSB) has called the penalty structure “disproportionate” and warned that many small businesses live in fear of accidentally falling foul of complex and rigid immigration rules.

“This is a case of an honest mistake met with inflexible punishment,” said Craig Beaumont, FSB Executive Director. “Small employers are not immigration officers. They need a system that recognises genuine intent and treats them accordingly—not one that issues crushing fines that could threaten their survival.”

From July 2023 to March 2024, the Home Office issued 1,508 civil penalty notices, each potentially as high as £45,000 per illegal worker, following last year’s increase from the previous £15,000 ceiling. The policy applies uniformly, regardless of business size or turnover.

The case comes amid a broader crackdown on illegal working. Prime Minister Keir Starmer has vowed to pursue enforcement “on a completely unprecedented scale”, following deals with France over small boat crossings. In recent weeks, the UK’s largest food delivery firms have also been pressured to step up identity checks.

A government spokesperson said: “Employers are responsible for carrying out right to work checks and there is comprehensive guidance and support on how to do this. The checks are free and take minutes to complete, with businesses able to utilise digital ID verification technology.”

Yet many small businesses argue that the system still leaves them vulnerable to unintentional breaches—with high-stakes consequences and little room for explanation.

Sullivan’s case has now become a lightning rod for the debate over how immigration enforcement is balanced against the operational reality of running a small business.

“I’ve employed people all my life,” Sullivan said. “I’ve never employed anyone illegally on purpose. This is just an honest mistake that could cost me everything.”

Read more:
Chippie owner hit with ‘devastating’ £40,000 fine for alleged illegal hire amid crackdown

The London Stock Exchange Group (LSEG) is exploring plans to extend or potentially introduce 24-hour trading, as part of efforts to revitalise the UK market and compete more effectively with global exchanges, according to a report in the Financial Times.

Currently, trading hours for London-listed stocks are from 8am to 4.30pm, but LSEG is now reviewing options that include round-the-clock trading or extended hours into the evening. The move would follow similar discussions taking place in the United States, where the New York Stock Exchange last year proposed a dramatic expansion of its own trading window.

A source familiar with the matter told the FT that LSEG is “absolutely looking at it,” and is engaged in “important commercial, policy and regulatory discussions.” Key areas under review include the technical infrastructure, liquidity impact, and implications for companies with dual listings.

The review comes amid growing pressure to make the UK stock market more attractive to both domestic and international investors. A number of high-profile companies have recently shifted or considered shifting their listings to New York, citing stronger liquidity, higher valuations and broader investor bases.

These include: Wise, the online payments platform, which recently proposed a dual listing in the US and UK. Ashtead, which announced a listing move last year, and Flutter Entertainment and CRH, both of which opted to move their listings entirely to the US

Wise’s proposal has triggered a backlash from some investors, including co-founder Taavet Hinrikus, who criticised what he called a lack of transparency regarding proposed changes to the company’s dual-class share structure. He argued that these governance shifts had been “buried in the proposal”.

Wise CEO Kristo Käärmann refuted the claims in a blogpost, insisting the company’s intentions were “clearly and transparently” communicated.

Around-the-clock trading is already the norm in cryptocurrency markets and increasingly accessible to retail investors via platforms like Robinhood, which offer after-hours share dealing. However, traditional stock exchanges remain limited by legacy systems, time zones, and settlement structures.

The New York Stock Exchange has already petitioned US regulators to extend its trading hours from the current 9:30am to 4pm EST to an ambitious 1:30am to 11:30pm. Supporters say such a shift would benefit global and West Coast investors, while critics warn of operational complications, reduced clearing windows, and challenges for fund managers.

In London, concerns have also been raised by brokers and asset managers, who argue that extended hours would necessitate significant tech and staffing investments, and could disrupt the way open-ended funds are priced, as they typically calculate value at market close.

The LSEG’s move forms part of a wider reassessment of the UK’s financial regulatory environment. Chancellor Rachel Reeves has signalled a more pro-growth stance, calling for bold reforms to prevent red tape from “choking off” innovation.

Speaking to City leaders last week, Reeves described regulation as “a boot on the neck of British business” and vowed to support changes that would help stimulate capital markets, encourage listings, and retain high-growth firms.

Whether or not 24-hour trading becomes a reality in London, the very fact it is under consideration suggests a growing urgency to reassert London’s global financial relevance.

The London Stock Exchange Group declined to comment.

Read more:
London Stock Exchange considers 24-hour trading to boost global competitiveness

In a landmark collaboration between two entrepreneurial powerhouses, Alibaba.com has announced Kickstarter as the official Crowdfunding Partner of CoCreate Pitch 2025—a $1 million global competition designed to help product-based startups launch, scale, and succeed.

The partnership blends Kickstarter’s creative funding ecosystem—which has helped 23 million backers pledge more than $8.5 billion to innovative ideas—with Alibaba.com’s extensive global B2B platform, spanning 50 million business buyers and 200,000 suppliers across 200+ countries.

Together, they aim to provide founders with the tools, funding, and infrastructure to go from prototype to production at scale.

“This partnership creates a stronger bridge between idea and execution,” said Kuo Zhang, President of Alibaba.com. “Through CoCreate Pitch, we’re supporting a new generation of founders with not just funding, but also the tools, expertise and infrastructure to help them grow and compete globally.”

CoCreate Pitch, launched as part of Alibaba.com’s flagship CoCreate event series, is set to become the world’s largest pitch competition for product-based entrepreneurs.

The format includes:
• $1 million in total prizes
• 100 semi-finalists: 70 pitching live in Las Vegas (Sept 4–5, 2025) and 30 in London (Nov 14, 2025)
• 2 Grand Prize winners: Each to receive $200,000 (split equally between cash and Alibaba.com sourcing credits)
• 20 additional winners: Up to $40,000 each
• All finalists: Free access to Alibaba.com’s sourcing tools, supplier network, and global B2B platform

Kickstarter’s involvement brings an extra layer of support for entrepreneurs looking to validate their products through community-backed funding. Finalists who launch campaigns on Kickstarter within 12 months of their pitch will receive:
• Homepage placement on Kickstarter.com
• Newsletter features
• 1:1 coaching from Kickstarter experts
• Marketing and promotional support across both Alibaba.com and Kickstarter platforms

“We’ve seen again and again how a single idea can grow into something extraordinary when supported by a passionate community,” said Everette Taylor, CEO of Kickstarter. “We’re proud to join CoCreate Pitch and help more entrepreneurs bring their visions to life.”

Taylor will also serve as a judge at CoCreate Pitch and lead a featured panel discussion on alternative funding models at the events.

How to apply

Entrepreneurs can submit entries by:
• Uploading a 30-second video pitch on Instagram or TikTok using #CoCreatePitch and tagging @Alibaba.com_official, or
• Completing an application form at pitch.alibabacocreate.com

Deadlines:
• Las Vegas event: Applications close August 15, 2025
• London event: Applications close October 15, 2025

Submissions will be judged on innovation, feasibility, and market potential by a panel of experienced investors, ecommerce leaders, and global business experts.

In addition to the pitch competition, Alibaba.com and Kickstarter will launch co-branded digital portals on their respective websites to provide educational content, resources, and entry pathways to participants.

By uniting crowdfunding validation with global supply chain execution, the collaboration positions CoCreate Pitch as a new model for empowering next-generation founders—particularly those who want to test ideas, raise funds, and scale efficiently.

As global entrepreneurship continues to evolve, this partnership offers a powerful new route to market—where passion meets platform, and ideas meet infrastructure.

Read more:
Alibaba.com and Kickstarter join forces for $1M CoCreate Pitch to back global entrepreneurs