Finance in Brief
All new cars launched by Volvo from 2019 onwards will be partially or completely battery-powered, in what the company called a “historic end” to building models that only have an internal combustion engine. Between 2019 and 2021, the firm will introduce five 100% electric models, and ensure the rest of its conventional petrol and diesel range has a hybrid engine of some form. It is the first major manufacturer to make such a move. Carmakers including Renault-Nissan, BMW and VW have declared plans for electric cars, supported with government grants.
The tobacco manufacturer Philip Morris will be forced to pay millions of dollars in legal fees to Australia after its failed case against plain packaging laws. Big tobacco companies have fought vigorously against the plain packaging laws ever since they were introduced by Julia Gillard’s government in 2011. By banning logos and distinctive-coloured cigarette packaging, Australia’s laws went further than the advertising bans and graphic health warnings introduced in many other countries.
Qatar Airways has joined other long-haul Gulf carriers in avoiding a US ban on laptops and large electronics in aeroplane cabins, despite logistical challenges amid a diplomatic dispute with several Arab nations. The airline did not respond to questions about its new procedures. Qatar Airways, Etihad, Emirates and Turkish Airlines all put procedures in place to satisfy American authorities, which instituted the ban in March across 10 Middle East cities because of concerns that extremists could hide bombs in laptops.