Tuesday newspaper round-up: Tariffs, used EVs, Apple
By Michele Maatouk
Date: Tuesday 04 Aug 2026
(Sharecast News) - A coalition of 25 US states sued the Trump administration on Monday over new tariffs pegged at 10% to 12.5% on goods from 60 trading partners, calling them a pretext for replacing import taxes struck down by the supreme court in February. The states are asking the US Court of International Trade to halt the tariffs, declare them unlawful and order refunds of duties that have already been paid. - Guardian
The number of people leasing used electric cars in the UK has more than doubled in the last year as drivers look for cheaper ways to avoid soaring petrol prices during Donald Trump's war on Iran. Used electric car leasing has risen by 170% in the last year across members of the British Vehicle Rental and Leasing Association (BVRLA), a lobby group whose members buy about half the UK's new vehicles to lease them out to businesses and consumers every year. - Guardian
Labour must scrap an oil and gas windfall tax to stop BP quitting the North Sea, the Scottish government has said. John Swinney, the first minister, called on Monday for Andy Burnham to scrap the tax - known as the Energy Profit Levy (EPL) - which has been blamed for BP's decision to exit the region after 60 years. - Telegraph
Apple has launched a fresh legal battle against the Government's controversial attempts to create "backdoor" access to iPhones. The US tech giant has reportedly filed a new legal complaint regarding the Home Office's demands for access to encrypted back-ups of cloud data belonging to British customers. The challenge, filed at the Investigatory Powers Tribunal, is the latest twist in a long-running tussle between Apple and the Government, which triggered a diplomatic row between Westminster and Washington last year. - Telegraph
A London-based semiconductor start-up founded by a 25-year-old British entrepreneur has been valued at $3.3 billion after it raised funds to develop the latest generation of chips underpinning the artificial intelligence economy. Olix's $312 million funding round, which tripled the company's valuation, was led by the New York-based fund Fundomo, alongside investment from Arm Holdings, the Cambridge-based chip designer, and Reed Hastings, the co-founder of Netflix. - The Times
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