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Wednesday newspaper round-up: Fuel prices, electric vehicles, Klarna

By Michele Maatouk

Date: Wednesday 21 Feb 2024

Wednesday newspaper round-up: Fuel prices, electric vehicles, Klarna

(Sharecast News) - Food businesses sending products to the EU have had to fork out an extra £170m in export costs because of Brexit red tape, with the changes described as being "catastrophic" for some exporters. Data shared with the Guardian shows that in the three years since leaving the single market, exporters of foods of animal origin have had to pay the sums to secure sign-offs by vets before they can send their shipments. - Guardian
The cost of filling up a family car in the UK increased by about £2 this month as the jump in the oil price caused by the Red Sea attacks is felt at the pumps. In the three weeks to 18 February petrol increased by 3.2p to 143.4p a litre, while diesel rose by 4p to 152p, according to the RAC, which said this was "worrying" for motorists. - Guardian

Britain and Europe must work together to resist an onslaught of cheap Chinese electric vehicles (EVs), the boss of Renault has warned. Luca de Meo, chief executive of the French car maker, said the switch to greener vehicles posed the biggest challenge to the industry in 150 years, but warned companies were being over-regulated and lacked financial support. - Telegraph

A boardroom row has broken out at Klarna, with some shareholders in the credit group seeking the removal of Sir Michael Moritz as its chairman. Sequoia, the American investment group that owns 22 per cent of the "buy now, pay later" lender, is calling for an extraordinary meeting to remove Moritz, who previously was a partner at Sequoia and was its nominee on the Klarna board. - The Times

Urban Logistics Reit has thrown its hat in the ring at the last minute in an attempt to hijack the takeover of a rival warehouse landlord. The owner of sheds worth £1.1 billion throughout the UK has tabled an indicative proposal to merge with Abrdn Property Income Trust, valuing the latter at about £226 million. - The Times

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