Wednesday, September 23
Britain's economic output shrank by 0.1% in May, official data showed on Friday. Economists polled by Reuters had mostly forecast that gross domestic product would rise by 0.1% from April's level. Britain's economy expanded rapidly in the first quarter of 2025, outstripping growth in other countries in the Group of Seven advanced economies. In May the Bank of England revised up its full-year growth forecast to 1%. However, much of the growth in early 2025 was likely to have been linked to the expiry of a tax break for some home purchases in April which boosted the sector before the deadline, and a rush by manufacturers to beat higher U.S. import tariffs. The BoE has said it thinks the economy grew by about 0.25% in the second quarter of 2025.
Days ahead of its debut in the country, EV giant Tesla on Friday received a go-ahead from the Regional Transport Office (RTO) here to display vehicles, allow test drives and sell its cars.The Andheri RTO formally issued a 'trade certificate' to the global EV giant, officials said.Ending months of speculation over its entry into the Indian market, Tesla is set to inaugurate its showroom in Mumbai's Bandra Kurla Complex business district on July 15.A senior RTO official told PTI that they issued trade certificate to Tesla India Motors and Energy Private Limited, an Indian arm of the Elon Musk-headed firm, as per the procedure prescribed by the Motor Vehicles Act.Before issuing the certificate, Motor Vehicle Inspectors inspected the showroom, parking and godown facilities mentioned in the com
