What’s going on here?

Tesla decided that sharing is caring, and opened its network of EV charging stations to Ford drivers.

What does this mean?

The US is a vast country, and the distances that some Americans travel to work would carry you across half a dozen national borders somewhere like central Europe. But that free-wheeling spirit poses a problem for the EV industry: after all, charging stations are still few and far between, and drivers risk running out of power on longer journeys.

Now, though, Ford’s making life on the road a little easier for its EV owners: they’ll be given access to Tesla’s 12,000 fast-charging stations – more than doubling the number of fast-charging stations in Ford’s North American network. And while current owners will need an adapter to plug in, Ford’s next generation of EVs will be designed to connect seamlessly with Tesla’s stations.

Why should I care?

The bigger picture: An offer Tesla couldn’t refuse.

Let’s face it: Tesla didn’t have much of a choice here. The US government’s long had a problem with how jealously the firm guards its charging stations – and its latest tack essentially involved saying, “Nice government subsidies you’ve got there. It would be a shame if something happened to them.” That meant Tesla was planning to open up its charging network to all EVs by 2024 anyway. But whether that turns out to be a boon – or whether it just robs Tesla’s cars of a key competitive advantage – is still up in the air.

For markets: Early but expected.

Given that Tesla was already planning to open its charging network, analysts will already have factored this move’s cash-generating prospects into their predictions for the firm’s stock. So even though this announcement didn’t really change anything long-term, it has brought forward aspects of that plan – along with some of the profit. And that little fast-forward might explain why Tesla's stock rose on Friday.

What’s going on here?

Data out on Friday showed British retail sales had a spring in their step in April.

What does this mean?

Inflation might not have been showing much chill last month, but that didn’t stop gung-ho British shoppers splashing out. The tidy little splurge was probably partly down to higher welfare payments and a juiced-up minimum wage – but the long-awaited advent of sunnier weather might’ve triggered a national wardrobe update too. Still, it wasn’t just linens and parasols that folk were buying: sales rose in every category except for fuel and household goods. All in all, then, the volume of goods sold online and in stores increased 0.5% from March – almost double the uptick economists were expecting, and a welcome return to growth after a 1.2% dropoff in March.

Why should I care?

Zooming in: May may make good.

British spending seems to be hitting its stride: the three-month period leading up to April recorded the highest sales volume increase since August 2021 – and that momentum might keep on rolling. After all, May boasted three bank holidays and some warmer weather, giving shoppers ample opportunity to splurge. Add in the fact that consumer confidence climbed to an annual high, and there’s a good chance this month’s figures will keep the upward trend going. And that’s not to mention the lower energy price cap slated for July, which will leave Brits with a little more cash to splash this summer too.

The bigger picture: Wage war.

The British economy is holding out pretty well on the whole, but rising wages have been a key factor in its resilience, and that’s a problem. See, that juicy pay is sparking more fiery inflation – the opposite of what the Bank of England wants. So with some extra interest rate hikes on the cards, the economy’s true mettle could soon be put to the test.