Used car prices continue ‘to defy gravity’ fuelling 30-year inflation record January 19, 2022 The increase in used car prices shows no sign of stopping and keeps on ‘defying gravity’, according to Auto Trader’s data and insights director Richard Walker. “To call the second-hand car market buoyant would be an understatement and, with new car supply remaining tight, consumer demand currently shows no sign of wavering,” Walker said. According [...]
Fly me to Seville: Vueling opens new Gatwick base, adding five routes January 19, 2022 IAG’s subsidiary and low-cost carrier Vueling has opened a new base at Gatwick, adding five new routes to Spanish cities such as Seville, Granada and Menorca. Flights from Gatwick to Malaga, Seville and La Coruna will begin on 1 April while the Gatwick-Menorca and Gatwick-Granada will start flying passengers from the day after. All the [...]
Lime invests £20m in London after hitting five million rides record January 19, 2022 E-scooter and e-bike provider Lime will invest £20m in London over the next year and a half after hitting 5 million rides. The company will use part of the funding to upgrade its network of e-scooters, bringing to market its latest model, trialled during Christmas. The new electric scooters will have a new braking system [...]
Growing 5G panic prompts more airlines to cancel flights to US January 19, 2022 Several airlines including Lufthansa and British Airways (BA) have either cancelled or rescheduled their flights to the US as a result of concerns over today’s roll out of 5G services across the country. In addition to cancelling a flight from Frankfurt to New York, the German carrier and its subsidiary Austrian Airlines swapped aircraft, with [...]
Ford gains $8.2bn from Rivian investment January 19, 2022 Automotive giant Ford has made an $8.2bn gain from its investment into California electric truck maker and Tesla rival Rivian, following its November market debut. Reporting its fourth quarter results in early February, the Detroit car maker has also announced it would reclassify a $900m non-cash gain from the investment as a special item. As [...]
Emirates suspends US flights over 5G concerns January 18, 2022 UAE carrier Emirates has announced it will suspend flights to US destinations such as Boston, Chicago and San Francisco over 5G concerns. The airline said the decision was “due to operational concerns associated with the planned deployment of 5G mobile network services in the US,” adding that it was working to “alleviate operational concerns,” hoping [...]
Tesla shareholders call on judge to make Musk repay $13bn for SolarCity deal January 18, 2022 Tesla shareholders have called on a judge to make Tesla’s chief executive Elon Musk repay $13bn for the 2016 acquisition of solar panel company SolarCity. The claimants argued that Musk, SolarCity’s 22 per cent shareholder, strong-armed Tesla’s board to buy the cash-stripped company founded by his cousins Peter and Lyndon Rive, Reuters reported. As a [...]
Biden in talks with aviation over 5G issues January 18, 2022 US President Joe Biden is reportedly in talks with aviation and industry stakeholders over 5G issues, after US airlines warned the roll out could have “a devastating impact” on the sector. In an attempt to smooth things, US network operator Verizon has agreed to limit 5G deployment around airports, Reuters reported. The White House reportedly [...]
Motor Fuel Group’s owner kicks off £5bn selling plans January 18, 2022 Motor Fuel Group’s (MFG) owner Clayton Dubilier & Rice (CD&R) has kicked off plans to sell the UK’s biggest independent forecourts operator, Sky News first reported. The private equity firm CD&R has invited this week investment banks to bid for a mandate to sell the company, which could be valued at £5bn. The forecourts operator’s [...]
Volkswagen and Bosch set up venture to make EU’s battery production self-sufficient January 18, 2022 Volkswagen and Bosch have joined forces and will set up a venture by the year’s end to make Europe’s battery production self-sufficient. The new company will provide integrated battery production systems, on-site ramp up and maintenance support, serving Volkswagen’s factories as well as plants across Europe. “Europe has the unique chance to become a global [...]