Jaguar Land Rover’s decision to shed 4,000 jobs comes after the carmaker has travelled down a very rough road.

The company has seen sales fall in all of its major markets and it has been dealing with the consequences of a devastating cyber-attack that paralysed production last year.

At the same time, it has been investing billions in an effort to reinvent itself for an electric future, in which it is likely to face intense competition from aggressively expanding Chinese brands.

Executives have now decided a major overhaul is needed.

One of the main concerns for JLR is China. Not so long ago, it was seen as a land of opportunity for western carmakers, where the rapidly expanding middle classes seemed to have an inexhaustible appetite for upmarket foreign-badged vehicles.

JLR, along with other European brands such as BMW, Audi and Mercedes Benz, was all too willing to meet that demand, at a time when the European market was extremely crowded and growth hard to find.

Today, things are very different. The past decade has seen rapid growth among domestic Chinese carmakers, firmly backed by their government, which has been determined to make the country a leading player in electric vehicles.

This has created an environment of intense competition, in which local manufacturers have rapidly raised the bar in terms of technology and development speed.

That, combined with a slowdown in the Chinese economy, has made China a much more difficult market for European brands.

JLR’s sales in China fell from a high water mark of 146,000 cars in 2017 to just 62,400 in the last financial year. At the same time, competition and a new luxury car tax have hit profit margins.

All of this has resulted in a sharp fall in revenues from the region. JLR is not alone in this; the Volkswagen Group, for example, has also seen its earnings in China pummeled – a major factor in its decision to axe 100,000 jobs by the end of the decade.

The state of the Chinese market has had another consequence for European carmakers, including JLR. Faced with cut-throat competition, they have been flexing their muscles abroad.

Companies such as BYD and Chery have been rapidly gaining market share in the UK and Europe – with the Jaecoo 7 the third best-selling car in this country over the first half of the year.

Analysts say traditional brands will face an uphill struggle to compete with new rivals, who can sell cars more cheaply and develop them more quickly.

The Cardiff headquartered firm has reported strong revenues for the first half of this year

One of Wales’ leading tech firms, IQE, have reported a more than 40% rise in half year revenues while reaffirming a positive trading outlook in part supported by strong growth in AI and data centre related markets.

The Cardiff headquartered firm, a leading global supplier of compound semiconductor wafer products and advanced material solution, said that trading had exceeded management expectations.

It has also confirmed it plans to move from the Alternative Investment Market to the main London Stock Exchange in the first half of next year. This should increase its visibility with institutional investors.

Earlier this year IQE confirmed a £81m investment package to support its growth plans following a strategic review of the business.

The funding included a £30m investment by US semiconductor manufacturer MACOM Technology Solutions – which has increased its position as a key customer – which also providing a further £15m in convertible loan notes.

In its first half to the end of June IQE revenues climbed 43% a year earlier from £45.3m to £64.6m. It posted an Ebitda of £6m compared to an Ebitda loss of £400,000 in the first half of 2025. Losses before tax were down from £18.3m to £12.6m with an improved cash and cash equivalent position of £41.6m.

It sees the potential for upside opportunities in optical communications for data centre and AI infrastructure, underpinned by recently signed supply agreements.

IQE chief executive Jutta Meier said: “I am pleased to report a strong first half performance, with more than 40% revenue growth year-on-year across our core markets driving profitability. This reflects the strong momentum we are seeing across AI-driven data centre infrastructure, advanced sensing, wireless and defence applications, alongside improved operational execution and a more favourable product mix.

“During the period, we have demonstrated our ability to capture long-term growth opportunities across these critical markets, underpinned by a number of key supply agreements. IQE is uniquely positioned to meet customer needs and will be converting existing capacity in H2 to support the increasing demand for indium phosphide solutions.

“Looking ahead, we have initiated a move to the main market of the London Stock Exchange, marking an important next step in IQE’s development and reflecting the board’s ambition to broaden support for the business and position IQE for the future.”

Available for over a year

A new survey has suggested nearly a third of people in the UK believe they lost money last year because of their poor maths skills. One estimate puts the cost of innumeracy at £25 billion per year. To try and tackle this the government has asked a House of Lords committee to investigate. We’ll hear from its chair, Lord Agnew.

The price of petrol is the highest it has been for almost four years. It was autumn 2022 when petrol last topped 160p a litre. We’ll look at why that is and what you can do try and bring the costs down.

It’s 50 years since the creation of the first index fund for ordinary investors – spearheaded by John Bogle, the founder of the American investment company The Vanguard Group. What was its impact on investing today?

And, why more than £1.5 billion languishing in unclaimed, government-backed Child Trust Funds will be the focus of a new review by the Financial Conduct Authority.

Presenter: Paul Lewis
Reporters: Dan Whitworth and Catherine Lund
Editor: Jess Quayle
Senior News Editor: Sara Wadeson

(First broadcast 12pm on Saturday 5th September 2026)

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Labor Day weekend marks the end of the summer travel season and new data shows American households were conscious of finding ways to save money even as they forged ahead with travel and entertainment plans this summer.

Bank of America’s summer travel survey found that consumers’ desire to travel remained strong and that people have been focused on getting the most value out of their trip.

“People aren’t cutting travel out. Instead, they’re being intentional about where the money goes,” Mary Hines Droesch, head of consumer and small business products and analytics at Bank of America, told FOX Business.

“They’ll splurge on the one thing that makes a trip memorable, whether that’s a great meal, a well-located hotel, or a unique experience and then scale back elsewhere, like a more affordable flight or skipping premium add-ons, without feeling like they gave up what mattered,” Droesch said.

LABOR DAY TRAVEL COSTS CLIMB AS AIRFARE, HOTEL PRICES MOVE HIGHER

Americans stuck with travel plans this summer, though some looked to shorten their trips or “travel stack” vacations on top of other trips to save, Bank of America found. ( Taylor Glascock/Bloomberg via Getty Images)

Droesch noted that the Bank of America data showed that shorter “micro-vacations” have given travelers “a reset without the price tag of a longer getaway,” and that about one in five members of Gen Z planned shorter trips this year than in past years.

Additionally, over half of Americans “planned to stay closer to home, crossing state lines rather than booking a costlier long-haul flight,” she added.

Consumers have also engaged in “travel stacking,” which Droesch said is “extending a trip already planned around a concert, wedding, or sporting event rather than paying for a separate vacation later.” The firm found that nearly one-third of Americans traveling to live events opted to extend the trip to spend more time exploring their destination.

NATIONAL AVERAGE PRICE FOR DIESEL HITS NEW RECORD HIGH AMID IRAN CONFLICT

Elevated gas prices have had some impact on consumer behavior this summer. (M. Scott Brauer/Bloomberg via Getty Images)

“Rising costs, particularly gas prices, are having a mixed impact this summer. About 23% of survey respondents planned to reduce the number of trips they take, while 31% said fuel costs had no impact on their plans at all. Rather than skip travel entirely, 22% said they planned to cut back on accommodations to offset higher gas prices,” Droesch said.

About one in four Americans, or 22%, who were traveling this summer said they are scaling back their spending on their lodging accommodations and food to offset their fuel costs, the firm’s research revealed.

Among consumers who aren’t traveling, the top reasons cited for staying home are that they can’t afford to travel right now (56%), are holding off on big purchases amid economic uncertainty (25%) and don’t like traveling (20%).

FED’S FAVORED INFLATION GAUGE ROSE MORE THAN EXPECTED IN JULY

The World Cup helped drive the summer travel season in June and July. (Michael M. Santiago/Getty Images)

Bank of America found that 61% of Americans were willing to make some sort of financial trade-off to afford to travel to a live entertainment event, such as cutting back on dining out (26%), taking on extra work or a side hustle (18%) and using credit cards (18%).

About half of consumers (46%) said they plan to redeem financial rewards this summer – such as credit card rewards, banking loyalty program offers and similar rewards. Members of Gen Z are the most likely to do so, at 80%, compared with 60% among millennials, 35% of Gen X and 19% of baby boomers.

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The Bank of America analysis also found that consumers are mindful of financial institutions’ benefits and other offerings when planning their travel, such as credit card rewards bonuses above baseline rewards (37%), personalized cash-back deals (30%), enhanced fraud monitoring while traveling (28%) and exclusive offers for travel and premium experiences (26%).

Chancellor promised to address the rising burden on businesses ahead of next month’s Budget

Chancellor John Healey said the UK economy was “turning a corner” as he pledged to rein in public expenditure ahead of next month’s Budget.

Delivering his first major address since taking charge at the Treasury, Mr Healey acknowledged the strain of high government borrowing costs and vowed to ease the growing pressure on businesses.

Mr Healey sought to strike an upbeat tone about the UK’s economic outlook, despite the ongoing turbulence caused by global crises including the conflict in the Middle East and Russia’s invasion of Ukraine.

Speaking in Coventry ahead of next month’s Budget — the first since Andy Burnham moved into 10 Downing Street — Mr Healey said: “The Prime Minister and I are in lockstep in our commitment to meeting the fiscal rules at the upcoming Budget, to balancing the books with a buffer to protect against uncertainty.

“To controlling borrowing to bear down on inflation and reducing long-term pressures on our public finances.”

He argued that the mounting cost of debt interest demonstrated that “staying true to our values means being honest about the need to control government spending”.

Yet he maintained there remained an “optimistic story” to be told about the UK economy, which he said possessed “huge latent potential”.

It was, he said, “a country turning a corner, a country whose people, businesses and communities are ready to seize the opportunity of new technologies and new ideas”. Outlining his vision for the economy, Mr Healey confirmed the Government would extend its overhaul of judicial review from energy projects to encompass all major infrastructure schemes.

He stated the reforms would ensure “vexatious litigation and challenge can’t block economic growth”.

The Chancellor also reaffirmed the Government’s pledge to devolve power away from Whitehall, announcing he would unveil a “roadmap to fiscal devolution” at next month’s Budget.

He said: “London, of course, is our powerhouse, but if our city regions could emulate the success of those in France or Germany, growth in our country would be transformed.”

In advance of that, he revealed the British Business Bank would be injecting £150 million into high-growth firms across the North of England, while also announcing the establishment of a “Northern 500” collective of “the North’s most ambitious mid-sized businesses”, to be led by regional mayors.

Mr Healey said he wanted twice as many “unicorn” firms in the UK and to make it easier for businesses to test new technology.

Mr Healey said: “So, I’m setting an ambition now to double the number of unicorn firms in this country.”

He said he would also aim to have “sandboxing” powers in place so businesses and innovators can test technology from pavement robots to drones to life-saving medical equipment, which he said regulation currently prevents.

WEST PALM BEACH, Fla. — Regan Hutsell, Miss Texas, was crowned Miss America 2027 on Sunday night, capping a week of competition that drew contestants from all 50 states, Puerto Rico and the District of Columbia to the Palm Beach County Convention Center.

Hutsell, 25, becomes the 99th woman to hold the Miss America title, succeeding outgoing titleholder Cassie Donegan, who crowned her successor onstage as part of the pageant’s longstanding tradition. Along with the crown, Hutsell receives scholarship money as part of her victory prize, according to Yahoo News.

Born in Houston on Dec. 12, 2000, Hutsell trained at Feijoo Ballet School in Texas and began dancing at age four. Her path to the crown included a notable stint as a professional dancer: at age 18, she joined the Radio City Rockettes and performed during that year’s holiday season, before going on to join the Birmingham Royal Ballet in 2021.

Competing as Miss Houston, Hutsell won the Miss Texas title on June 27, 2026, at the Eisemann Center in Richardson, Texas, earning her spot to represent the state at the national competition. Her community service initiative, titled “Your Body Is Your Home,” focuses on body image and physical and mental well-being.

Hutsell electrified the crowd at the Kravis Center for the Performing Arts during Thursday’s talent portion of the competition with a fluid jazz dance routine performed to “Le Jazz Hot,” which earned her preliminary awards in both talent and fitness heading into the final night of competition.

Speaking ahead of the national competition, Hutsell described what the Miss America organization has meant to her personally.

“Miss America has changed my life,” Hutsell said. “When I think about Miss America, I think of the four points of the crown, which stand for service, style, scholarship, and success. I can say that every single one of those aspects has influenced my life and has truly transformed it. Every single person I meet as Miss Texas, I want them to truly feel seen, known and loved, and to feel the hope that they can accomplish anything they want to. I stand here as proof of that.”

Sunday’s final competition featured 11 semifinalists selected from the full field of 52 contestants, including Hutsell, along with Miss California Sharlize True Trujillo, Miss District of Columbia Evelyn Smith, Miss Hawaii Carly Yoshida, Miss Illinois Kate Dimmett, Miss Iowa McKenzie Kerry, Miss Louisiana Shelby Bordelon, Miss Mississippi Jane Granberry, Miss New York Madison Oh, Miss South Carolina Lindsay Jones and Miss Utah Erika Dalton.

The semifinalist round included a compressed version of the full competition, with contestants moving quickly through fitness and talent segments before facing an improvised challenge in which they had 30 seconds to respond to a specific word, such as freedom, innovation or unity, chosen by pageant officials. Hutsell’s assigned word was “courage,” and she spoke about the meaning of courage during her response to the judges.

Among the other 52 contestants at this year’s competition was Miss Massachusetts Ashlyn Mercier, a police officer from Westborough, Massachusetts, whose participation drew attention given her law enforcement background. Miss Florida, Alexandra de Roos, won the pageant’s Quality of Life Award, recognized in part for her advocacy work supporting people who have sustained brain injuries. De Roos, from Winter Haven, Florida, attends the University of South Florida and is pursuing a career in medicine as a neuropsychiatrist.

Outgoing Miss America Cassie Donegan, 28, reflected on her own demanding year in the role during comments following Sunday’s ceremony, describing a schedule that frequently left her physically and mentally exhausted despite the personal fulfillment the experience brought her.

“Some days, am I exhausted? 100%. Absolutely. There are some 10-hour days where I’d get home, and I was like, ‘What are words? I don’t know how to be human right now,’” Donegan said. “Your brain just goes to mush, but your heart is so full at the same time, so it’s worth it.”

Donegan, an accomplished singer who won the pageant last September following her earlier victory in the New York state competition, spent her reign touring the country for speaking engagements, philanthropic events and performance opportunities, including singing the national anthem at the Daytona 500. She previously told People that being Miss America felt “different every day,” an aspect of the role she said she came to appreciate. Donegan credited her prior entertainment industry background with helping her adapt to the demanding travel schedule the title required.

“I am used to living out of a suitcase or being on a plane all the time, going contract to contract or performance opportunity, so I think I’m a little bit more conditioned to that than some of our previous Miss Americas have been,” Donegan said.

As the newly crowned Miss America 2027, Hutsell is expected to embark on a similarly demanding schedule of appearances, advocacy work and performances over the coming year, continuing to promote her body-image and wellness-focused platform while representing the Miss America organization at events across the country. Her background as a professional dancer, spanning both the Rockettes and the Birmingham Royal Ballet, distinguishes her from many past titleholders and is expected to remain a central part of her public identity throughout her reign, following the talent performance that helped propel her to the national title Sunday night in West Palm Beach.

Available for 27 days

We’re talking benefits. Turned down for Personal Independence Payment? Thousands of people are challenging benefit decisions at independent tribunals, and the majority are winning. We hear why so many initial PIP assessments are being overturned and what it could mean for you.

Talking openly about debt. We meet the influencer behind ‘Figuring out finances at 40’ who’s breaking the taboo around financial struggles. From revealing exactly how much debt she’s in to documenting the mistakes she’s made and the practical steps she’s taking to get back on track.

Could your holiday booking be too good to be true? A new investigation by consumer group Which? has raised serious questions about checks on Booking.com after researchers successfully created a fake holiday rental at one of Britain’s most famous addresses: 10 Downing Street. So how easy is it for fraudulent listings to slip through the net, and what should travellers look out for?

And if you’ve got a story or an experience you’d like to share, you can get in touch – just email cfb@bbc.co.uk

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