Sunday newspaper round-up: Elon Musk, Rolls-Royce, Lotus
By Alexander Bueso
Date: Sunday 29 Jun 2025
(Sharecast News) - Elon Musk criticised Donald Trump's proposed tax and spending proposals on Saturday, labelling them "utterly insane and destructive". The tech mogul wrote on social media that "The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!" He also believed that they were akin to political suicide for the Republican party. Musk was criticising a US Senate version of the bill. - Guardian
Rolls Royce boss, Tufan Erginbilgic, has confirmed that the company is set to return to the market for "narrow body" aircraft. The chief executive officer hailed it as the "single-biggest opportunity for growth in the UK over the next 50 years". Government ministers concur and talks are underway for taxpayer support to develop a new engine. In an interview, Erginbilgic also said that the engineer could expand into autonomous vehicles and drones. - The Sunday Times
The Business Secretary is in urgent talks with Lotus's management team, even as the carmaker insists that it will not close its Norfolk factory. Jonathan Reynolds contacted Lotus in response to rumours that the company - owned by Chinese auto giant Geely - might shift production of the Emira model to the States and close its UK factory. That would cost 1,300 Britons their jobs. - Guardian
The government stands ready to give the green light to a takeover of BP by rival Shell in order to keep it in British hands. Whitehall's determination was left clear before last week's reports of early-stage negotiations between the two companies. Shell however has since indicated that no such talks were under way. Neither is it clear that US Big Oil might be interested in BP. Yet some City advisers have been alerted that their services might still be required at some point in the near future. - The Financial Mail on Sunday
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