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Industry calls for more free ports as it warns Chancellor he risks leaving coastal towns behind

Container ships passing near Southampton Docks last year - Andrew Matthews /PA
Container ships passing near Southampton Docks last year – Andrew Matthews /PA

The national association for ports has called on the Chancellor to create more than 10 free ports or risk distorting competition and leaving behind some coastal towns in the Government’s “levelling up” agenda.

A 10-week government consultation ends this week on plans to attract ­investment into post-industrial coastal areas by creating zones where goods do not face tariffs or other taxes usually slapped on imports, alongside other ­incentives including research and development tax credits, capital allowances, discounts on stamp duty and business rates, and local relaxations of planning laws.

However, in a letter to Rishi Sunak seen by The Daily Telegraph, Richard Ballantyne, chief executive of the British Ports Association, expressed the group of more than 400 ports’ “serious concern” that the proposals appeared to have “limited aspirations” to establish only up to 10 sites.

“The industry

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Is Group 1 Automotive (GPI) Stock Undervalued Right Now?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system’s “Value” category. Stocks with both “A” grades in the Value category and high Zacks Ranks are among the strongest value stocks on the

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Full-Size Pickup Sales Help Keep U.S. Auto Industry Afloat

From Road & Track

Welcome to The Grid, R&T’s quick roundup of the auto industry and motorsports news you should know this morning.

Full-Size Pickup Sales Help Keep U.S. Auto Industry Afloat

The COVID-19 pandemic had a huge negative effect on U.S. auto sales in the second quarter, but full-size pickups continue to move. Automotive Newsreports that while U.S. new vehicle sales decreased by a third last quarter, full-size pickups became the most popular segment in the country, beating out compact crossovers. “Even when the vehicle market goes completely sideways, the truck market stays straight and true,” Karl Brauer, Kelly Blue Book Executive Editor told Automotive News. Mid-size pickups are doing well, contributing to this amazing statistic—one in every four non-luxury brand U.S. auto sale in Q2 was a pickup of some sort.

Pickup sales were down in Q2, but not down as much as in other

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Byton and Karma Automotive among companies that received COVID-related PPP loans

EV firms Byton, Karma Automotive and Nio all received between $5 and $10 million in aid after joining the US PPP program.

In an attempt to save small businesses from falling victim to the economical side effects of the coronavirus recession, an economic downturn predicted to be the worst since the Great Depression of the 1930s, the US Small Business Association launched the Paycheck Protection Program which accepted applications until July 6. 

Also on July 6, the US Treasury released a list of companies which benefited from the program by receiving loans of $150,000 or more; the EV start-ups Byton, Nio, and Karma Automotive all got between $5 million and $10 million to keep their head above water.

Unfortunately for these companies, even millions of dollars couldn’t keep them in the clear. Last week, Byton announced that operations will be suspended for at least six months due to the outbreak;

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