Tough new emissions controls could see car manufacturers hit with mega-fines next year amid disappointing sales of electric vehicles. Fines relating to the sales of new cars begin on Jan 1 in accordance with EU emissions standards and are set to deliver another blow to the beleaguered sector. In 2020 manufacturers will have to meet controls on CO2 emissions averaging 95g per km on all new cars they sell. According to the EU, this works out at fuel consumption of about 4.1 litres per 100km of petrol and 3.6 litres per 100km of diesel. Missing the target will mean a penalty of €95 (£81) per car for each gram per km by which firms miss the target.
City bankers are hoping British companies will embark on a bigger shopping spree in the year ahead after the size of UK takeover deals plunged to its lowest point since the year of the EU referendum. The value of takeovers involving UK companies fell 50% on last year to $189bn (£146bn), according to Dealogic, despite various blockbuster deals taking place this year including the £4.6bn sale of British beer business Greene King to Hong Kong’s richest man Li Ka-Shing and the London Stock Exchange’s $27bn (£22bn) swoop for data provider Refinitiv. Takeover activity was last this low in 2016, when political uncertainty dragged the value of deals down almost 60pc to $185bn.
