Economy

Volvo Cars' future
Volvo Cars recalls thousands of hybrids - can catch fire

Volvo Cars is recalling 73,000 plug-in hybrids globally, 8,000 of which in Sweden, due to a problem with a short circuit in the battery that can cause it to catch fire. The company confirms this to Carup.

The carmaker further tells the site that it will contact affected car owners and ask them to book an appointment with a dealer "without delay".

Tesla's future
Major bank: Tesla's value could be halved

Major bank HSBC cuts its valuation of electric car manufacturer Tesla from $165 per share to $130, CNBC writes. The new target price is a halving from yesterday's close.

The major bank writes that there are no "quick solutions" for the electric car manufacturer's problems and expects weaker sales going forward.

“The seeds of the current sales weakness came even before the latest brand problems,” writes analyst Michael Tyndall. 

Trump's USA • Tariffs
British message: Does not want to escalate tariff conflict with the USA

British Finance Minister Rachel Reeves says this morning that she does not want to escalate Donald Trump's trade conflict by introducing countermeasures. Passenger cars are Britain's largest export.

- We are not in a position at the moment where we want to do anything to escalate the tariff war, says the Finance Minister in Sky News Breakfast.

Reeves also says that they are trying to establish a better trade climate between the USA and the UK, and that talks are underway.

Trump’s new tariff threat: Will be worse if the EU and Canada cooperate

Donald Trump is threatening “significantly higher” tariffs if the EU and Canada were to agree on countermeasures against the US. The president writes this on his own platform Truth Social.

Late on Wednesday evening, Trump announced that he plans to impose tariffs of 25 percent on all vehicles manufactured outside the US from April 2.

German Finance Minister Robert Habeck said in a statement that the EU must urgently negotiate with the US, but at the same time give a strong response.

“It must be clear that we are not backing down,” he said according to Reuters.

US growth
Attempt to save Hooters: Will become more family-friendly

When the American restaurant chain Hooters goes bankrupt, its founders plan to regain control of the brand, writes Bloomberg. The restaurant chain was founded in Florida in 1983 but has been sold several times over the years.

Neil Kiefer, CEO of the owner company HMC Hospitality Group, tells the news agency that they want to change the brand. Among other things, the chain will become more family-friendly and remove events such as "bikini nights".

- I call it a "re-hooterization", says Neil Kiefer.