theguardian_business

TfL brings case worth up to £1bn against carmakers over Ulez compliance

📰 source: theguardian_business · 💼 business

transport for london is pursuing a potential £1bn legal action against car manufacturers, alleging fraud and negligence over vehicles that should not have been allowed to drive freely in the city's ultra-low emission zone (ulez). the high court heard that tfl is targeting stellantis, jaguar land rover, bmw and nissan, arguing these companies misrepresented diesel vehicles' emissions compliance, causing tfl to lose revenue from £12.50 daily charges. the lawsuit, launched in 2024, was stayed until october pending a parallel 'dieselgate' case, where most allegations against carmakers were recently rejected. tfl's lawyers are considering an appeal, but the procedural hearing this week gave details of the claim, with tfl seeking up to £1bn. carmakers' lawyers countered that tfl's allegations lacked specifics. tfl was also a signatory to the dieselgate case on behalf of 1.6 million drivers.

why it matters: london's transport authority is seeking a massive payout from automakers, potentially reshaping liability for emissions cheating and clean-air zone revenues.

source: theguardian_business
sentiment: -0.30 · impact: 0.60

These charts show why stocks keep rallying. Profit margins are the highest on record

📰 source: cnbc_topnews · 💼 business the s&p 500's blended net profit margin is running at 16.9% for q2, up from 14.8% in q1 and 12.9% a year ago. that's the highest since factset began tracking in 2009, and well above the five-year

Trade court upholds Trump's closure of 'de minimis' loophole

📰 source: cnbc_topnews · 💼 business a federal trade court on thursday upheld trump's elimination of the de minimis exemption, which allowed goods under $800 into the us tax free. the ruling came in a lawsuit from detroit axle, a michigan auto-parts distributor that sued the administration in may 2025,

OpenAI revenue chief Denise Dresser leaving, second major executive departure in days

📰 source: cnbc_topnews · 💼 business openai's chief revenue officer denise dresser is leaving less than a year after joining, the company said thursday. she's staying briefly for transition, with dali rajic, former president and coo of cybersecurity firm wiz, taking over. dresser's exit is the

BAE Systems to pay $36m penalty after 104 violations of US arms export rules

📰 source: theguardian_business · 💼 business bae systems, the uk defence contractor, will pay a $36m (£26.7m) civil penalty to resolve 104 violations of us arms export rules. the us state department announced the administrative settlement on thursday with bae's us arm. the breaches included unauthorised exports of technical

Read more

These charts show why stocks keep rallying. Profit margins are the highest on record

Trade court upholds Trump's closure of 'de minimis' loophole

OpenAI revenue chief Denise Dresser leaving, second major executive departure in days

BAE Systems to pay $36m penalty after 104 violations of US arms export rules