Antonia MatthewsBBC Wales
Getty ImagesThe stars of Netflix fantasy drama The Witcher have revealed they were left stranded on a boat on a north Wales lake when “19th century bombs” were found…
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The Witcher stars stranded on Welsh lake after historic bomb found
Getty ImagesLiam Hemsworth stars in the Season 4 of The Witcher -
Business leaders urge Rachel Reeves to use budget to push pension funds into UK investment | Budget 2025
More than 250 British company bosses have urged Rachel Reeves to use her budget to make UK pension schemes channel extra funds into domestic businesses, increasing private investment by as much as £95bn.
In a letter to the chancellor, business leaders said the government must address a crisis in which pension investment in UK-listed companies has fallen from 53% of total equity holdings in 1997 to 4% this year.
The signatories, including major pharmaceutical, financial services and health firms, said that to reverse decades of investment overseas, Labour should tell pension fund managers they must invest at least 25% of their equity holdings in UK shares.
Reeves is expected to announce a string of initiatives to boost investment in her 26 November budget.
The chancellor has already championed the Sterling 20 initiative and Mansion House accord to coordinate backing for local and national infrastructure projects.
Under the Mansion House accord, fund managers including Aviva, Legal & General, and M&G agreed to invest at least 10% of their workplace pension assets in private markets by 2030.
However, the letter, coordinated by the London Stock Exchange Group and signed by the bosses of Revolut, JD Sports and Barclays, calls on Reeves to go further.
It said all defined contribution (DC) pension schemes, used by most employers and holding about £200bn in assets, should be required to change their rules.
“We urge you to be bold,” the authors wrote, adding that the chancellor could make pension fund managers include a minimum 25% allocation to UK assets part of every default fund, forcing savers to opt out if they rejected the plan.
“This policy would set the default level of UK domestic pension investment closer to that of international competitors,” the letter said. “Doing so would provide businesses with access to deeper and more reliable sources of capital in the UK.
“By 2030 overall investment in UK equities by DC pensions would increase by around £76bn from current levels in today’s money (or +230%) and potentially as much as £95bn,” the letter added.
Reeves would easily secure support for the rule change from the public, they said.
“Taking action would be in line with the perceptions of the British public. A recent poll commissioned by New Financial found that the public believes 41% of their pension is invested in UK companies or the UK stock market – 10 times the current level of investment.
“Moreover, 72% support government action to encourage more domestic investment through their pension schemes.”
Individuals could opt out of the plan by requesting their pension savings be diverted from the default fund, the letter said.
The latest investment figures show it may prove a popular option as individual investors seek high returns on their assets.
Investors spent £10.5bn on offshore bonds in the 12 months to the end of June, up from £5.1bn the previous year, according to data reviewed by the Financial Times.
Financial advisers blamed fears of higher capital gains tax for wealthier individuals channelling funds via Ireland, Luxembourg and the Isle of Man into tax-efficient bonds.
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Hyundai Motor Company President and CEO José Muñoz Shares Strategic Vision for 2026 at 2025 Leaders Talk
- Hyundai Motor CEO José Muñoz emphasized resilience, adaptability, and cross-functional alignment as key strengths to confidently lead future mobility.
- Muñoz shared his strategic vision for the company, encouraging direct and open communication between employees
- The CEO pointed to expanded partnerships as key drivers of mobility innovation
- He also reflected on his first year as CEO and called for proactive leadership to ensure long-term growth beyond 2030
- He was joined by executive vice presidents responsible for global operations, electrification, and HR, who participated in a panel discussion with employees.
SEOUL, November 6, 2025 – Hyundai Motor Company President and CEO José Muñoz met with employees around the world to share the company’s strategic direction for 2026, reinforcing Hyundai Motor’s commitment to agility, innovation, and sustainable growth.CEO Message: Building Confidence for the Future
Hyundai Motor Company President and CEO José Muñoz met with employees around the world during the 2025 Leaders Talk, the company’s global town hall-style meeting, to share Hyundai’s strategic direction for 2026 and reinforce its commitment to agility, innovation, and sustainable growth.
The event was held at Hyundai Motor’s Gangnam office in Seoul, with 200 employees attending in person and many others joining via live stream.
“As I reflect on my first year as CEO, I’m grateful for the dedication and resilience of our global team. The automotive industry is transforming faster than ever, but I’ve never been more confident in our ability to navigate what’s ahead. Our success in 2025 proved that adapting is truly part of our DNA. We achieved outstanding results while managing complexity. Looking toward 2026 and beyond, our strength lies in the quality and safety of our products, the flexibility of our strategy across powertrains and markets, and most importantly, the talent and commitment of our people. The partnerships we’re building, along with our manufacturing investments and product innovation, position us to lead the future of mobility.”
As announced during its CEO Investor Day in September, Hyundai Motor aims to achieve 5.55 million global vehicle sales by 2030. Building on this momentum, electrified vehicles are expected to account for 60 percent of total sales, reaching 3.3 million units, with significant growth anticipated in North America, Europe, and Korea.
To support this goal, the company will expand its hybrid lineup to more than 18 models by 2030, including the introduction of Genesis hybrid models starting in 2026.
The company’s Genesis luxury brand, celebrating its 10th anniversary, has grown into a top 10 global premium brand, surpassing 1 million units in cumulative sales and expanding into over 20 markets. Genesis will launch the GV60 Magma, its first high-performance model, and introduce EREV and hybrid vehicles to accelerate electrification. The brand aims to reach 350,000 annual sales by 2030, strengthening its presence in the United States, Europe, the Middle East, Korea, China, and emerging markets.
Hyundai Motor’s strategic partnerships are also driving innovation. Since launching sales on Amazon, dealer traffic has increased by over 41 percent. Collaborations with Waymo and GM are progressing, with real-world testing and co-development of five vehicle models underway. Robotics initiatives are expanding the boundaries of mobility.
Executive Perspectives: Supporting the Vision
Yeong Ho Lee, Executive Vice President and Head of Global Operations Division, addressed the growing competitiveness of Chinese automakers in global markets.
“Hyundai Motor is responding to new competitors with differentiated service experiences, strategic financial partnerships, and a strengthened eco-friendly powertrain portfolio. Our ability to align cross-functional strategies is key to maintaining our leadership.”
Chang Hwan Kim, Executive Vice President and Head of Electrification Energy Solutions Tech Unit, shared Hyundai Motor’s electrification roadmap.
“Hyundai Motor has built one of the most diverse electrification portfolios in the industry. From HEVs to EREVs and FCEVs, we’re developing technologies that maximize customer value, safety, and performance. Our upcoming EREV system will offer over 600 miles of range with breakthrough battery efficiency.”
Hae In Kim, Executive Vice President and Head of HR Division, emphasized the importance of employee growth in a rapidly changing environment.
“In the age of AI, deep and broad expertise is essential. We’re investing in global HRD frameworks like H-SENSE and career solution maps to help employees expand their capabilities. At Hyundai, growth through work—particularly on global and cross-functional projects—offers a distinctive opportunity, as the company’s success is intrinsically linked to the growth of its people.”
Closing Remarks: From Vision to Everyday Values
Closing the Leaders Talk, President Muñoz encouraged employees to embrace change and prepare for long-term growth:
“Our Executive Chair’s ‘Progress for Humanity’ vision is a commitment to make mobility safer, more sustainable, and more accessible for everyone. That starts with how we treat each other, how we serve our customers, and how we show up in our communities every day.”
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About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Advanced Air Mobility (AAM) to bring about revolutionary mobility solutions while pursuing open innovation to introduce future mobility services. In pursuit of a sustainable future for the world, Hyundai will continue its efforts to introduce zero-emission vehicles with industry-leading hydrogen fuel cell and EV technologies.More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
Contact:
Jihyun Park
Global PR / Hyundai Motor Company
pjh85@hyundai.comTrevor Hale
PR & Communications / Hyundai Motor Company
THALE@HMAUSA.COMContinue Reading
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Apple Regains Safe-Haven Status as AI Trade Looks Shakier
The Apple Fifth Avenue store in New York.
(Bloomberg) — Another broad selloff that dented high-flying AI trades from Nvidia Corp. to Palantir Technologies Inc. left an old stalwart of the tech sector unscathed: Apple Inc.
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Liam Lawson ‘surprised’ to be blamed for Mexico GP incident
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UN rights body plans emergency session on Sudan, document shows – Reuters
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