New Tesla sales in Spain rise 27% in July, other EV sales more than double
Sales of Tesla cars in Spain were up 1.1% in the first seven months of 2025 from the same period a year earlier, while total sales of electrified vehicles, a category that includes both fully electric vehicles and hybrids, were up 93%.
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Business Upturn
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Brief Video Explores How Elon Musk's Starlink Could Reshape the Future of Global Communications
Baltimore, MD, Aug. 03, 2025 (GLOBE NEWSWIRE) — James Altucher examines how Elon Musk's Starlink network could permanently alter the telecommunications landscape and set the stage for a new era of global connectivity. 'Fifty years from now, people may remember it as one of the greatest innovations of the 21st century,' Altucher says in the presentation. 'An innovation which could be bigger than Tesla or anything else Elon has done before.' A Threat to Legacy Telecom Giants The brief presentation outlines how Starlink's satellite-based system bypasses traditional infrastructure, a move that could disrupt the $2.18 trillion telecom industry. 'For consumers like you and I, Elon's Starlink is a godsend… for the $2.18 trillion telecom industry, it's their worst nightmare,' the presentation states. Altucher points to existing providers' high costs and slow speeds compared to global peers as evidence of an industry vulnerable to disruption. Connecting the Remaining Third of the World Starlink's impact extends beyond urban markets, with Altucher highlighting the 2.9 billion people currently without internet access. 'By connecting these people – many of whom live in rural areas – to the world wide web, it could help unlock an incredible amount of additional economic value,' Altucher explains. He argues that this mass inclusion could trigger a wave of innovation and commerce in previously disconnected regions. Redefining How We Live and Work Altucher's presentation describes Starlink's potential to reshape not just business, but daily life. 'This technology is set to change how we shop… how we travel… how we conduct business… down to a personal level, too… changing how we interact with our friends and family,' he notes. By enabling seamless high-speed connectivity anywhere, he predicts a future where distance is no longer a barrier to opportunity or communication. August 13 as a Turning Point? According to Altucher, several developments point to August 13, 2025 , as a possible milestone date for the network's trajectory. 'This elite meeting makes it the perfect place for Elon to take the stage… and announce to the world that he's spinning off Starlink from SpaceX,' Altucher predicts of the upcoming industry gathering. About James Altucher James Altucher is a technology entrepreneur, venture capitalist, and Wall Street Journal bestselling author recognized for spotting transformative innovations before they hit the mainstream. CNBC has called him 'one of the best venture capitalists, angel investors, and tech entrepreneurs in the world.' He has been an early supporter of companies that changed entire industries and is the founder of Altucher's Investment Network and the host of The James Altucher Show , downloaded more than 40 million times worldwide. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
2 hours ago
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Brief Video Explores How Elon Musk's Starlink Could Reshape the Future of Global Communications
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Yahoo
2 hours ago
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UK lenders face $12 bn plus compensation bill despite court ruling: watchdog
British finance firms behind high interest car loans could have to pay out more than nine billion pounds ($12 billion) in compensation despite the country's highest court ruling that most of the controversial deals were lawful, a financial watchdog said Sunday. The Supreme Court on Friday partially overturned judgments that the loans were unlawful, giving relief to banks which had been bracing for compensation claims from millions of car-buyers. It did, however, uphold one of the three cases, which allows the claimant to seek compensation. And in a similar but separate probe, the Financial Conduct Authority (FCA) said that the cost of any redress scheme relating to discretionary commission arrangements for car loans would likely be higher than £9 billion. "While there are plausible scenarios which underpin estimates of a total cost as high as £18 billion, we do not consider those scenarios to be the most likely and analyst estimates in the midpoint of this range are more plausible," the FCA said in a statement. The FCA estimates that most individuals will probably receive less than £950 in compensation. The court ruling had given the FCA "clarity... because we have been looking at what is unfair and, prior to this judgment, there were different interpretations of the law coming from different courts," it said. "It is clear that some firms have broken the law and our rules. It's fair for their customers to be compensated," said Nikhil Rathi, chief executive of the FCA. The Supreme Court decision mostly overturned Court of Appeal rulings last year that it was unlawful for car dealers to receive a commission on loans without sufficiently informing borrowers. In some cases, the loans -- available from 2007 -- allowed car dealers to offer higher interest rates in return for a bigger commission from banks. The ruling means that dealers have some leeway when arranging loans, without requiring explicit consent from borrowers for terms that may benefit lenders. The case that was upheld involved Marcus Johnson, who in 2017 bought a Suzuki Swift from a car dealer in Cardiff for £6,500 including loan costs -- unaware that interest on the loan amount would fund a commission of more than £1,600. When the Court of Appeal ruled in favour of Johnson, ordering FirstRand Bank, a South African based lender, to refund the commission plus interest, it sparked panic across the finance sector. That ruling was upheld by the top court due to the high level of commission Johnson was charged and the complexity of the contract setting out the fee, which limits the scope of other compensation claims. HSBC bank analysts had suggested before the trial that the total cost to the banking sector could have reached £44 billion. jwp/tw/gv Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
