Cairn Homes to post dividend of 2.66 cents, while demand has ‘never been stronger’ July 1, 2021 Cairn Homes is set to reinstate a dividend of 2.66 cents per share, while the demand for new homes has “never been stronger”, the housebuilders boss said. The group raked in a sturdy €131m revenue from 403 closed new home sales in the six months to 30 June, up from €81m from 207 closed sales [...]
TfL under fire over ‘hidden subsidies’ for Uber Thames Clipper services June 30, 2021 Transport for London (TfL) is tonight under pressure after a complaint was lodged with the Competition and Markets Authority (CMA) over “hidden subsidies” for the Uber Thames Clipper ferry service. Romford MP Andrew Rosindell and London Assembly Member Keith Prince have written to the CMA saying that the firm is being given “an unfair and [...]
Renault-Nissan alliance to build 1m electric cars a year by 2030 June 30, 2021 Renault and its partners Nissan and Mitsubishi will produce 1m electric cars a year by 2030, the French auto giant announced today, as it accelerates its move away from the internal combustion engine. Chief executive Luca de Meo said that the carmaker would launch 10 new electric vehicle models by 2025, with 90 per cent [...]
Stagecoach scraps dividend as pandemic hits bus services June 30, 2021 Stagecoach has scrapped its dividend for the full year after Covid lockdowns sparked a sharp fall in revenue and profit. The Scottish transport group posted revenue of £928m in the year to May, down from £1.4bn in the previous 12 months. Pre-tax profit dropped 40 per cent to £24.7m, though this was ahead of market [...]
UK airlines lagging behind European rivals as travel restrictions continue June 29, 2021 The UK’s airlines have been the slowest in Europe to recover from the coronavirus pandemic, new figures released tonight show, as travel restrictions continue to hammer the sector. According to the all-parliamentary group on the future aviation, airline passenger numbers in the UK are down 89 per cent compared to 2019 levels, behind the continental [...]
EU opens competition probe into IAG’s purchase of Air Europa June 29, 2021 The European Commission has tonight opened an in-depth probe into BA owner IAG’s planned purchase of Spain’s Air Europa. The Commission, which oversees EU antitrust policy, said it had concerns that the proposed transaction would reduce competition for Spanish domestic routes and on international routes to and from Spain. The body said it had 90 [...]
Airlines fear chaos over digital Covid-19 passports June 29, 2021 Airlines have warned of chaos over the EU’s digital Covid certificates plan, due to start on 1 July, unless countries work together better. Watch the full report.
Jaguar Land Rover to stop Defender production due to chip shortfall June 29, 2021 Jaguar Land Rover (JLR) has been forced to pause production of its Defender 4×4 due to the ongoing global shortage of semi-conductor chips. The firm has been forced to slow down output at its factory at Nitra in Slovakia, where it makes the popular model, as a result of the shortfall,. It was scheduled to [...]
Flying cars that take off vertically will be in UK streets within ten years, says Hyundai’s UK chief June 29, 2021 UK streets should brace themselves for flying cars as a senior automotive chief claims they will be deployed within the next ten years. Michael Cole, the president and chief executive of South Korean car maker Hyundai’s UK and European operations, said the technology will cut congestion and emissions. Speaking at a conference organised by the [...]
Auto industry calls for battery gigafactory push ahead of Nissan announcement June 29, 2021 The UK auto industry has today called for the government to invest in a string of battery gigafactories or risk tens of thousands of job losses. The calls come amid reports that car giant Nissan will this week lay out plans to build such a plant in Sunderland, in what would be a huge vote [...]