How higher education is funded across the South Caucasus region?
Georgia has unveiled a new funding model for public universities, highlighting the different ways higher education is financed across the South Caucas...
Tesla’s car sales in the UK plummeted by over 45% in May 2025, as growing political backlash and stronger competition impact the brand’s market share despite a booming electric vehicle sector.
Tesla’s UK car sales fell sharply in May, dropping more than 45% year-on-year to 1,758 vehicles from 3,244 a year earlier, according to preliminary data from New AutoMotive. The decline comes despite a broader rise in the British car market, where overall new registrations grew 4.3% to 144,098 units during the same period.
The sharp drop is being partially attributed to political controversies surrounding Tesla CEO Elon Musk. Analysts and industry observers suggest his polarising public stance on various issues may have dampened consumer sentiment across European markets.
Despite the dip, Tesla remains the UK’s best-selling battery electric vehicle (BEV) brand for the year to date. However, its dominance is increasingly being challenged by rivals, particularly Chinese carmaker BYD, which more than doubled its UK sales to 1,388 units in May.
The broader UK electric vehicle segment showed resilience, with BEV sales rising 28% year-on-year. Yet Tesla’s performance in Europe continues to raise concern, with the company also reporting significant losses in other countries—sales fell 53.7% in Sweden and 68% in Portugal.
In a bid to reverse these trends, Tesla recently launched a refreshed Model Y in Norway, where sales surged by 213%. The updated model is expected to roll out in additional European markets in the coming weeks, potentially boosting performance in the region.
At the close of the latest trading session, Tesla’s share price stood at $344.27, marking a slight increase of 0.45%.
A tourist aircraft crashed near Peru's UNESCO-listed Nazca Lines on Saturday (1 August), killing all 13 people on board, authorities said.
Iranian Foreign Ministry Spokesperson Esmaeil Baghaei has said Tehran is not currently involved in direct talks with Washington about reopening the Strait of Hormuz. U.S. President Donald Trump said negotiations with Iran were to begin on Monday.
U.S. President Donald Trump said late on Saturday he would hold off on a fresh attack on Iran as long as a deal could be reached quickly to halt Iran's nuclear ambitions and reopen the Strait of Hormuz.
Two firefighting helicopters collided while battling a major wildfire in Greece on Sunday, killing two crew members as emergency services continued efforts to contain fires fuelled by extreme heat and dry conditions across Europe.
French Prime Minister Sebastien Lecornu said wildfires that swept across France were now under control. Authorities warned that risks remained as Greece and Spain continued battling active blazes across parts of Europe.
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
SK Hynix reported record quarterly profit on Wednesday, but its shares slumped 10 per cent after the South Korean chipmaker fell short of investor expectations built around the artificial intelligence (AI) boom.
Oil prices have fallen more than six per cent as a pause in U.S.-Iran hostilities eased fears of wider supply disruption around the Gulf.
Paramount Skydance agreed to pause its acquisition of Warner Bros Discovery until after a ruling on a challenge by states to the deal, plunging the $110 billion deal into further uncertainty.
China's Foreign Ministry has said it is closely monitoring the United Kingdom's nationalisation of British Steel. Prior to the British government fully taking over the loss-making company on Thursday, it was previously owned by Chinese private steelmaker Jingye.
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