Money

Europe could end its reliance on China for electric car batteries by 2030 but only if it keeps pace with Joe Biden’s $369bn (£298bn) green subsidy spree, experts predict.A report by the renewable energy campaign group Transport & Environment said the EU was on track to produce enough lithium-ion battery cells by 2027 to meet demand and cut China from supply chains. “Li-ion” batteries are rechargeable and used in consumer electronics and electric cars.The study forecasts that Europe’s reliance on China for the refining and processing of battery metals could...

The UK’s least affluent households have almost £40 a month less spare cash than they did a year ago while the richest have gained a similar sum in the same period, according to figures exposing how inflation has hit the poorest the hardest.The wealthiest 20% of households had £36 a month more in discretionary income in December compared with a year before, as they enjoyed record earnings growth which offset rising energy and food bills, analysts at Retail Economics found.The differing fortunes recorded on its cost of living tracker reflect...