Source: Sharecast
Local bus services in England have continued to decline despite attempts by successive governments to bolster investment in services, according to a National Audit Office (NAO) report. The spending watchdog found that efforts to revive routes and attract more passengers had so far failed, with a 15% fall in the total miles operated by buses outside London since 2019 and passenger numbers still 9% below pre-Covid levels. - Guardian
Donald Trump has extracted tax breaks for US companies after threatening to impose a “revenge” levy on foreign businesses that moved money out of the US. G7 countries are to abandon plans to make US companies pay a minimum level of corporation tax in return for Mr Trump dropping the threat of “revenge tax”. Scott Bessent, the US Treasury secretary, said that he has asked both houses of the US Congress to remove a Trump’s tax proposal, known as Section 899, from the budget bill after an agreement with the other G7 countries. – Telegraph
British vehicle production fell by almost a third last month to its lowest level for May since 1949, as President Trump’s tariffs on American imports deepened the challenges besetting the industry. Fewer than 50,000 cars, vans and lorries rolled off UK assembly lines and output fell for the fifth consecutive month, according to the latest figures from the Society of Motor Manufacturers and Traders, the industry body. – The Times