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Vertu delivers solid results as it urges Government to fast-track review of ‘distorting’ EV targets

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‘New vehicle market conditions were heavily influenced by the Government’s ZEV mandate, which continued to distort manufacturer behaviour’

From zero to £4bn turnover in 15 years: Vertu Motors' CEO Robert Forrester

Vertu Motors’ CEO Robert Forrester(Image: Studio Lambert)

Bosses at motor retailer Vertu have marked a solid year of trading in a challenging year for the sector – but urged the Government to accelerate its review of electric vehicle sales targets. The Gateshead based dealership, which has a network of 191 sales and aftersales outlets across the UK, published full year results for the year ended February 28 2026, highlighting good results amidst a number of challenges.

Revenues reached £4.83bn, up 1.5% from £4.76bn, while adjusted pre-tax profit was £24.5m, down 16.4% from £29.3m but ahead of market expectations despite weak new vehicle markets. Net debt stood at £61.3m, down from £66.6m. Adjusted operating profit was £46.5m, down 11.3% from £52.4m

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It said the group’s resilient aftersales operations delivered record performance – now generating over 46% of group gross profit. The group also saw a £2.9m uplift in core group gross profit in March and April, compared to the prior year.

As we reported earlier this month, it also booked £3.4m of insurance proceeds – recognised as other income – offsetting losses from the JLR cyber-attack of £3.9m. The AIM-listed group said the impact of the Middle East conflict on fuel price volatility, consumer confidence, and vehicle demand is being monitored but that no material adverse consumer trends are visible as yet.

As expected, however, it said that Battery Electric Vehicles (BEV) and hybrid vehicles are seeing higher interest from customers, and warned that a prolonged conflict could drive up inflation. Last month the group launched Value Cars by Vertu, an initiative to increase market share in the seven-to-14-year-old used car market, and initial indications are that this will add incremental profits.

Looking ahead, it said a programme to boost its portfolio with new Chinese entrant brands is set to continue, with Jaecoo, Omoda, Lepas, Chery and Leapmotor to be added to its portfolio, joining its five BYD dealerships.

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CEO Robert Forrester said: “The group has delivered solid results against the backdrop of sector pressures from the Government’s ZEV mandate on new car profitability, as we have focused on controlling the controllables, such as aftersales and cost. The group is benefiting from stable management, a highly trained and committed workforce, strong cashflows funding a maintained dividend, another £12m share buyback and significant asset backing.

“The group is therefore excellently positioned to take advantage of the inevitable opportunities that will arise as the sector continues to consolidate. I am delighted that the trading performance in March and April has been strong and ahead of the prior year period, which is a testament to the quality and hard work of the excellent Vertu team, whom I would like to thank.”

Meanwhile, Vertu highlighted how the Zero Emission Vehicle (ZEV) mandate scheme is hitting its profits and “distorting” its volumes and margins. The scheme was introduced by the Government to force motor manufacturers to sell more electric vehicles each year or face steep fines, as part of its plans to move all new car sales to EVs by 2035.

Robert Forrester, CEO of Vertu Motors

Robert Forrester, chief executive of Vertu Motors(Image: -Newcastle Journal)

Chairman Andy Goss said: “New vehicle market conditions were heavily influenced by the Government’s ZEV mandate, which continued to distort manufacturer behaviour, suppress retail margins and shift volume into lower‑return channels. Consumer and business confidence also remained subdued generally.”

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At present, the planned consultation on the ZEV scheme is not set to be published until next year.

But Vertu said: “The ZEV mandate is distorting volumes, margins and channel mix for new car and commercial vehicles, alongside elevated discounting and potential non‑BEV supply constraints. The ratcheting of targets creates more intense pressure and the Group has asked the Government to urgently bring forward its review of the ZEV mandate from 2027 to 2026.”

Mr Forrester added: “The UK retains one of the most ambitious BEV transition trajectories among major automotive markets, with manufacturers of cars required to achieve a 28% BEV mix in 2025 and 33% in 2026, facing fines of £12,000 per vehicle for non-compliance. Future targets ratchet up significantly to an 80% mix in 2030. BEVs accounted for only 23.4% of car registrations in 2025, achieved largely through financially unsustainable manufacturer discounting.

“The SMMT estimates discounting of BEV vehicles exceeded £5bn in 2025 (at least £11,000 per BEV), distorting both new and used car markets and creating sustained margin pressure across the sector. By the end of April 2026, BEV share stood at 23.1% calendar year to date, leaving uptake short of the 33% share required.”

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Slideshow: Protein innovation continues to trend

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Slideshow: Protein innovation continues to trend

Formulations are driving innovation dairy and milk alternatives.

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Claude AI Down Today? App Faces Intermittent Glitches but No Major Outage on May 13

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Claude AI Down Today? App Faces Intermittent Glitches but No

SAN FRANCISCO — Anthropic’s Claude AI showed no widespread outage Wednesday, May 13, 2026, with official status pages and major monitoring services reporting all systems operational, though scattered user complaints of slow responses, elevated errors on specific models and login hiccups continued to surface amid surging demand for the popular chatbot.

Claude AI Down Today? App Faces Intermittent Glitches but No
Claude AI Down Today? App Faces Intermittent Glitches but No Major Outage on May 13

Anthropic’s official status page at status.claude.com indicated full operational status across core services including claude.ai, the API, Claude Code, Claude Console and Claude for Government as of mid-morning Pacific time. The page noted a resolved partial outage from May 12 involving elevated errors on Claude Sonnet 4.6 and Haiku 4.5, but no active incidents for today.

Downdetector, which aggregates user reports, showed minimal activity in the past 24 hours with no significant spike. Most recent complaints clustered around Claude Code and chat functionality, but overall reports remained low compared to previous major disruptions in March and April 2026.

The absence of a full-scale outage comes as a relief for millions of daily users who rely on Claude for coding, writing, research and creative tasks. Yet the “again” sentiment echoed across forums reflects Anthropic’s pattern of intermittent issues as the company scales rapidly to meet explosive demand following several high-profile model releases.

Claude has experienced multiple notable disruptions in 2026. On May 12, Anthropic acknowledged investigating elevated errors on Sonnet and Haiku models. Earlier incidents included major outages in April with login failures, 500 errors and API instability that affected thousands. A significant March 2 event left claude.ai unavailable for hours amid login and connectivity problems.

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These episodes highlight the challenges facing frontier AI labs. Unprecedented user growth — Claude frequently tops app store charts and developer adoption lists — strains infrastructure even as Anthropic invests heavily in compute and reliability. Company statements often cite “high demand” as a contributing factor during resolutions.

For users checking today, most reported normal access to claude.ai and the web interface. Some noted slower generation times or occasional throttling, particularly during peak hours in major time zones. API users generally experienced fewer problems than consumer-facing surfaces.

Troubleshooting common issues remains straightforward. Clearing browser cache, trying incognito mode, switching networks or using the mobile app often resolves temporary glitches. For persistent problems, Anthropic recommends checking the status page first and waiting briefly, as many incidents self-resolve within minutes to hours.

Enterprise and developer users face higher stakes. Claude Code, popular for programming assistance, has drawn particular complaints during past outages. Businesses integrating the API into workflows have explored redundancy strategies, such as fallback to other models or self-hosted alternatives, to mitigate downtime risks.

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Anthropic has improved transparency with its public status page and faster incident acknowledgments compared to early 2026. The company routinely posts updates during investigations and marks resolutions promptly. However, the frequency of issues has fueled user frustration and discussions about infrastructure maturity relative to competitors like OpenAI’s ChatGPT.

Broader context shows AI services remain inherently complex. Training and serving massive models requires enormous compute clusters, sophisticated load balancing and rapid scaling. Demand surges from viral features or new releases often expose bottlenecks before optimizations catch up.

Claude’s strengths — strong reasoning, coding capabilities and safety focus — continue driving loyalty despite reliability hiccups. Many users tolerate occasional downtime in exchange for what they describe as superior output quality on complex tasks. Power users maintain multiple AI subscriptions as a hedge.

As of 10 a.m. PDT on May 13, no new incident had been posted on Anthropic’s status dashboard. Social media chatter on X and Reddit showed routine usage rather than mass outage reports. Some users mentioned minor slowdowns, but the consensus pointed to normal operations with typical variability.

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Looking ahead, Anthropic faces pressure to enhance resilience as Claude’s user base expands. Future updates may include better redundancy, predictive scaling and clearer communication during partial degradations. For now, the service appears stable today, offering reassurance to students, professionals and developers counting on it.

Users experiencing problems today should first verify via status.claude.com or Downdetector. Simple workarounds like restarting sessions or trying different models often suffice. Anthropic continues iterating quickly, balancing innovation with the operational demands of serving a global audience hungry for advanced AI assistance.

While Claude avoided another full “down again” episode on May 13, its history of intermittent issues underscores the growing pains of mainstream AI adoption. As reliance on these tools deepens, reliability will remain a key competitive battleground. For most users Wednesday, Claude delivered as expected — powerful, helpful and ready for the day’s tasks.

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Cargill launches cocoa alternative with Voyage Foods

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Cargill launches cocoa alternative with Voyage Foods

US rollout of NextCoa kicks off North American launch.

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Paysafe Limited 2026 Q1 – Results – Earnings Call Presentation (NYSE:PSFE) 2026-05-13

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Global Popularity Showdown as BLACKPINK’s Comeback Edges Out TWICE’s Touring Power

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BLACKPINK And Selena Gomez

SEOUL — In the fiercely competitive world of K-pop girl groups, BLACKPINK and TWICE remain the two dominant forces heading into mid-2026, with BLACKPINK reclaiming momentum through a blockbuster comeback while TWICE sets attendance records on the road. The eternal debate — which group reigns supreme globally — shows BLACKPINK holding a slight edge in overall metrics, though TWICE’s dedicated fanbase and live draw keep the race compelling.

BLACKPINK, under YG Entertainment, made a triumphant return in early 2026 with their third mini-album DEADLINE. The release shattered first-day sales records for a K-pop girl group, moving over 1.46 million copies worldwide on day one and surpassing 1.77 million in the first week. The title track “JUMP” and follow-up “GO” dominated global charts, with “GO” claiming No. 1 on YouTube’s global weekly chart and strong Spotify performance.

As of mid-May 2026, BLACKPINK leads as the most-streamed K-pop girl group on Spotify for the year, surpassing 800 million streams and becoming the first female act to hit that milestone in 2026. The group boasts approximately 23 million monthly listeners, with a massive catalog advantage from hits like those on DEADLINE. Their world tour supporting the album spans major stadiums across 16 cities and 33 shows, building on the success of the record-breaking Born Pink tour that drew over 1.8-2.1 million fans previously.

Brand reputation rankings reinforce BLACKPINK’s position. In January and February 2026 analyses, they consistently ranked No. 1 or No. 2 among girl groups, ahead of TWICE. Their global digital artist rank remains in the top five, driven by international appeal, solo successes from Jennie, Lisa, Rosé and Jisoo, and massive YouTube presence.

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TWICE, from JYP Entertainment, counters with consistency and unmatched touring strength. Their This Is For world tour shattered records in 2026, drawing an estimated 550,000 fans across the North American leg alone — the highest attendance for a K-pop girl group in the region. The tour expanded to Europe and Japan, with three shows at Tokyo National Stadium pulling 240,000 attendees. Overall, TWICE has demonstrated robust ticket power, often outpacing newer acts in live revenue and scale.

TWICE
TWICE

Streaming-wise, TWICE trails BLACKPINK slightly in 2026 but remains competitive, reaching 600-700 million Spotify streams early in the year and ranking as the second-most streamed girl group in several periods. Their album This Is For performed strongly in the U.S., becoming one of the top-selling K-pop girl group releases there. TWICE also leads in longevity metrics, with extended charting on platforms like Spotify and Apple Music.

Fanbases tell a nuanced story. BLINKs benefit from BLACKPINK’s broader casual recognition and solo stardom, which boosts group visibility. ONCEs pride themselves on loyalty and organized support, fueling TWICE’s touring success. Social media debates rage, with some arguing TWICE has gained ground in the U.S. and Japan through consistent releases, while BLACKPINK dominates overall global searches, brand deals and cultural impact.

Album sales favor BLACKPINK in headline moments, but TWICE excels in cumulative physical and digital units over time. TWICE has moved millions in Japan and maintains strong domestic support. BLACKPINK’s DEADLINE era not only set sales benchmarks but also revived their dominance in digital points on charts like Circle.

Global metrics highlight BLACKPINK’s lead. They boast higher YouTube subscribers and views, stronger Google Trends in many regions, and more universal name recognition. Solo activities amplify this: Lisa and Jennie frequently trend worldwide. TWICE, however, shines in dedicated markets like North America for live events and maintains a wholesome, approachable image that resonates with multi-generational fans.

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Industry observers note both groups benefit from the post-BTS K-pop boom. BLACKPINK’s four-year hiatus before DEADLINE built anticipation that paid off massively, while TWICE’s steady output prevented any dip in relevance. Newer acts like IVE and LE SSERAFIM challenge them in brand rankings, but the veterans hold the top spots in cumulative influence.

Touring revenue underscores live power. TWICE’s 2026 North American success sets benchmarks, yet BLACKPINK’s stadium-scale ambitions position them for even larger grosses when fully deployed. Both groups excel where newer acts struggle — translating streams into ticket sales and sustained careers.

Social sentiment and polls often split along generational lines. Older fans lean BLACKPINK for pioneering global breakthroughs; younger ones appreciate TWICE’s relatability. Fan-voted rankings frequently place BLACKPINK higher overall, though TWICE wins in specific territories.

Looking ahead, BLACKPINK’s momentum from DEADLINE and the ongoing tour likely solidifies their position as the more popular group globally in 2026. Their blend of massive digital impact, brand power and star quality gives a broader reach. TWICE, however, proves unmatched consistency and fan connection, particularly in live settings, ensuring they remain a powerhouse.

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The rivalry elevates both. BLACKPINK sets records in sales and virality; TWICE in attendance and loyalty. Neither shows signs of fading, with potential for joint or competitive dominance in the years ahead. For now, BLACKPINK holds the slight global edge, but TWICE’s resilience makes the contest far from over.

As K-pop matures, these two groups exemplify different paths to success: explosive global phenomena versus steadfast, fan-driven empires. Fans win either way, enjoying high-quality music, spectacular performances and the thrill of the ongoing debate.

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Danone North America to close New Jersey facility

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Danone North America to close New Jersey facility

Plant manufactures Silk and So Delicious brands.

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RWE Aktiengesellschaft 2026 Q1 – Results – Earnings Call Presentation (OTCMKTS:RWEOY) 2026-05-13

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Mixed reviews for R&D tax overhaul amid 'complexity' and investment fears

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Mixed reviews for R&D tax overhaul amid 'complexity' and investment fears

Changes to the research and development tax incentive have received a mixed review from industry and experts, with some warning it risked legitimate research missing out on funds.

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London traders hit by 'king of mangoes' shortage

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London traders hit by 'king of mangoes' shortage

London’s Alphonso mango supply is down this year due to fewer imports and higher prices for shoppers.

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Nebius Stock Spikes After Earnings. The AI Neocloud Sees ‘Unprecedented Demand.’

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Nebius Stock Spikes After Earnings. The AI Neocloud Sees ‘Unprecedented Demand.’

Nebius Stock Spikes After Earnings. The AI Neocloud Sees ‘Unprecedented Demand.’

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