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Carmakers on Trial: UK’s Largest Emissions Lawsuit Unfolds

                                                       Vehicles pictured at a Ford motor dealership in London. Some of the world’s biggest car manufacturers are facing one of the largest mass lawsuits in English legal history, as over 1.6 million drivers accuse them of cheating diesel emissions tests. The case, now before London’s High Court, echoes the infamous Volkswagen “Dieselgate” scandal that shook the auto industry a decade ago. The lawsuit targets Mercedes-Benz, Ford, Nissan, Renault, and Stellantis-owned Peugeot and Citroën. Claimants allege the companies installed unlawful “defeat devices” — software designed to detect when vehicles were undergoing emissions testing and temporarily reduce pollution levels. On the road, however, the cars allegedly emitted far higher levels of harmful gases than permitted by law. ...
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Bank of Canada Poised for Another Rate Cut Amid Easing Inflation

The Bank of Canada is widely expected to cut its key interest rate again this Wednesday, following recent data indicating a continued easing of inflation. This anticipated move comes after the central bank already reduced its policy rate by 25 basis points to 4.75% last month.

Economists and market analysts are betting on another 25 basis point cut, which would bring the rate down to 4.50%2. The decision is driven by a combination of factors, including a slowdown in consumer price inflation, restrained spending, and a generally lackluster economic outlook.

Recent reports show that inflation cooled to 2.7% in June, down from 2.9% in May. This decline has bolstered confidence that the Bank of Canada will continue its efforts to ease monetary policy. Additionally, rising unemployment and subdued growth expectations have further supported the case for another rate cut.

The Bank of Canada is set to announce its decision on Wednesday at 9:45 AM ET, along with the release of its quarterly Monetary Policy Report, which will include updated forecasts for economic growth and inflation.


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