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    Business news live: Tesla shares fall as Trump criticises Musk, UK government to make Cash ISA cuts

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    Employment levels predicted to continue falling in 2025

    “Though we forecast a gradual recovery in private sector employment will take hold in 2026, it’s unlikely to be strong enough to prevent unemployment drifting up towards 5 per cent, from 4.5 per cent [earlier this year],” said chief UK economist Andrew Goodwin.

    “Early data on the impact of the increases in employers’ national insurance contributions and the national living wage in April suggest substantial job losses and falling vacancies in lower-paid sectors, such as accommodation and food,

    “We think this is a one-off adjustment to the recent build-up in cost pressures rather than the start of a persistent decline in job numbers.”

    Karl Matchett1 July 2025 14:39

    Tesla shares poised to plummet almost 6% as Trump criticises Musk

    The latest spat stems from EV subsidies and a suggestion Tesla would face ruin without them.

    Tesla shares are down 5.8 per cent in pre-market trading and about 9 per cent over the past week.

    Whe the market opens shortly, the share price will be under $300 for the first time since early June.

    Karl Matchett1 July 2025 14:21

    Gold and oil both rise as caution returns

    Key commodities had been on a small, slow downward trend over the weekend, but today both gold and oil are rising in price.

    Gold is back up 1.64 per cent to $3,362, while Brent Crude is at $67.14 – that’s a 0.6 per cent rise.

    Most of this is due to the approaching deadline of Donald Trump’s trade tariff agreement, the 90-day pause and with key areas like the EU yet to fully agree set deals.

    The strength of the dollar is also a key factor and it has weakened considerably this year.

    Karl Matchett1 July 2025 14:00

    The surprising job AI won’t replace any time soon

    We’ve seen headlines over the past few days over AI replacing many jobs and vacancies for entry level positions being down by a third since Chat GPT became a thing.

    Here’s a deep dive into what AI can and can’t do yet – and some surprises are in there over possible roles.

    Karl Matchett1 July 2025 13:30

    US stocks poised to open lower

    Stocks in the US will open lower this afternoon following Donald Trump citing his displeasure with Japan.

    Talks over exports of rice, among other things, haven’t gone too well just yet – the president has spoken of a “letter” being sent.

    The Nasdaq is set to open 0.33 per cent lower with the S&P 500 0.22 per cent down when markets start in an hour and a half.

    Karl Matchett1 July 2025 13:12

    More criticism over government plan to cut cash ISA

    Fair to say, the government’s apparent plan to cut the cash ISA limit is not being universally applauded.

    Most experts agree that doing so will not encourage savers to invest more instead, at least as a sole means of pushing that transition.

    Brendan Callan, CEO of trading platform Tradu, said:

    “The government is facing the wrong direction. Time has shown us that, when encouraging people to invest, you have to use the carrot, not the stick.

    “Savers aren’t held back from investing by a simple fear of investing; there’s a broader lack of excitement around UK companies, a dearth of blockbuster IPOs and, crucially, a stamp duty on share trading. This is essentially a tax on investing and actively discourages retail investors from getting involved in the stock market.

    “Instead of trying to force people out of their savings and into the stock market, the government should take a more encouraging approach by removing barriers to investing. Making it easier and cheaper for people to invest is far more likely to boost retail participation than punishing them for not investing.”

    Karl Matchett1 July 2025 12:30

    FTSE 100 falls, Eurozone inflation at 2%

    European stocks are down today with the DAX at -0.37 per cent and France’s CAC 40 at a similar level.

    That comes amid news the Eurozone inflation rate rose to 2 per cent for last month, up from 1.9 per cent.

    That’s on the European Central Bank’s target.

    As for the FTSE 100, after rising early on it’s now down 0.18 per cent as we head toward midday.

    Karl Matchett1 July 2025 11:40

    Elixirr move from AIM to main London Stock Exchange market

    London-listed firm Elixirr has confirmed a move to the main market from AIM, in a bid to close its valuation gap.

    Noting a share price increase of more than 250 per cent since going public in 2020, the company CEO said:

    “This move is not only the next step for us as a global challenger consultancy, but also a strategic leap forward for our shareholders and clients. By joining the Main Market, we are opening up new opportunities for global investment, increasing our visibility, and reinforcing our commitment to building a billion-dollar brand while remaining dedicated to nurturing our challenger DNA, delivering outstanding results, and driving sustained value for clients, shareholders, and employees alike.”

    Karl Matchett1 July 2025 11:20

    EU to accept US trade agreement with 10% tariff

    The EU will accept a US trade agreement which has a 10 per cent tariff for the bloc, reports Bloomberg – but with key exceptions.

    Sectors such as alcohol, semiconductors and pharmaceuticals should be lower than that, Brussels feels, but they only have until 9 July to come to a finalised agreement.

    The Euronext 100 index is down 0.38 per cent today so far.

    Karl Matchett1 July 2025 11:00

    Are Premium Bonds still worthwhile?

    The Premium Bonds rate has been cut once more, with the prize rate down to 3.6 per cent from August.

    Is it still worthwhile having your money in NS&I’s flagship product?

    Albert Toth runs the numbers:

    Karl Matchett1 July 2025 10:39

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