Hit the brakes

Hi ZipLawyer! It's time to hit your 2025 commercial awareness goals.

Tesla’s Sales Hit the Brakes

Tesla’s record-breaking streak just ran out of juice. In 2024, the EV titan reported its first-ever annual sales dip, delivering 1.79 million cars compared to 1.8 million in 2023. Despite a blockbuster Q4 (nearly half a million EVs sold!), Tesla’s being squeezed by rising costs and an EV slowdown. Oh, and BYD, the Chinese rival, sped past Tesla in Q4 sales. But don’t count Elon out—he’s banking on a rebound in 2025 with a cheaper model and regulatory tailwinds from the new U.S. administration. Meanwhile, Tesla’s energy biz is on a roll, hitting 11 GWh in battery deployments.

Businesses Face ‘Tax-terror’ in 2025

Businesses are bracing for a tax tsunami as costs per minimum wage worker shoot up by £2,367 in 2025. The culprits? A rise in National Insurance and a 6.7% hike in the National Living Wage. Retail and hospitality—industries heavily reliant on minimum wage staff—are expected to take the biggest blow, with retail alone eating an extra £7 billion in costs. Critics warn this could put the brakes on job growth, but the Treasury insists it’s all about higher pay and fewer unemployed folks.

Biden Nixes Nippon Steel’s $14.1B US Steel Deal

Biden just slammed the brakes on Nippon Steel’s $14.1 billion bid for US Steel, citing national security concerns. The deal had been cooking since late 2023, but opposition from the United Steelworkers union (and perhaps a little steel patriotism) killed the vibe. Nippon Steel tried sweet-talking with job and investment promises, but no dice. Now, Cleveland-Cliffs might jump back in with a revised bid. This rare CFIUS roadblock involving a close ally could signal choppier waters ahead for foreign investors eyeing key U.S. sectors.

Mayer Brown Grows Its Finance Muscle

Mayer Brown is flexing its finance practice with a heavyweight hire. Chris McGarry, formerly the head of White & Case’s European CLO and securitisation game, is now on board. With expertise in leveraged loans, mortgage-backed securities, and ESG matters, McGarry adds serious clout to Mayer Brown’s global structured finance team. Alex Dell, a partner at Mayer Brown, gave McGarry a warm welcome, calling it a big win for the firm’s transatlantic ambitions. This comes after recent U.S. finance hires, including Sheel Patel and Blaise Latella. Mayer Brown’s finance squad just got even fiercer.

Barclays Faces £8.6M Property Sale Lawsuit

Barclays has landed in hot water, facing an £8.6 million lawsuit from Bashar bin Mahmood, who claims the bank sold his Manchester property for a rock-bottom £3.45 million—far below its previous £15 million valuation. Mahmood alleges the sale triggered a “domino effect” that sank his businesses. He’s also accusing Barclays of selling his debt on the sly, breaching its duty. Oh, and if that wasn’t enough drama, he’s filed a separate £1.2 billion suit against KPMG over dodgy restructuring advice. Eversheds Sutherland is advising Mahmood on this one.

Term of the Day: Carbon emissions

Carbon emissions are CO₂ released from burning fossil fuels and other activities, contributing to global warming and climate change.

Why is it today's term?

EasyJet is literally scraping the paint off to cut emissions. By using thinner paint layers, it’s shaving 27kg off each aircraft—about one checked bag’s worth. Modest? Sure. But across the fleet, that adds up to 4,000 tons of CO2 saved annually by 2029.

With electric and hydrogen planes still years away, airlines are scrambling for creative solutions like SAF (made from cooking oil) to meet net zero targets. EasyJet’s aiming for a 35% CO2 cut by 2035, but with high Sustainable Aviation Fuel (SAF) costs and tight deadlines, it’s going to be a bumpy ride.

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