Tesla shareholder sues Elon Musk over tweets March 12, 2021 A shareholder in electric car firm Tesla is suing outspoken boss Elon Musk, claiming that his tweets have exposed investors to billions in losses. The claim accuses Musk of breaking a settlement reached with the US Securities and Exchange Commission back in 2018. At that time, the regulator came down hard on the South Africa-born [...]
Corona Impact Series: How the pandemic accelerated this e-scooter provider’s expansion plans March 12, 2021 In this series, Morning Wire looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: How an e-scooter startup from Slough plans to conquer the capital as it is taking advantage of favourable post-pandemic government policies. Electric scooters are increasingly a common [...]
Ride-hailing giant Grab reportedly in talks over $40bn SPAC deal March 11, 2021 Ride-hailing firm Grab is reportedly in talks about going public through what would be the biggest SPAC deal ever signed. According to the Wall Street Journal, the Singapore-based firm is in talks with a SPAC – special-purpose acquisition company – linked with Altimeter Capital Management for a deal that would value it at up to $40bn. [...]
France eases restrictions on travellers from the UK March 11, 2021 France has today become the latest country to lift restrictions on travellers from the UK, its foreign ministry has announced. According to a statement from the Quai d’Orsay, travellers from the UK, as well as six other countries, will no longer need a “compelling reason” to travel to France. However, people will still be required [...]
Government must get people back on public transport to drive green recovery, says Go-Ahead boss March 11, 2021 Encouraging people to get back on public transport when the current Covid restrictions are lifted is vital to the government’s net zero plans, Go-Ahead chief executive David Brown has said. Speaking to Morning Wire, he said that the future of the country’s public transport providers was bound up with “where the government wants to go [...]
Rolls-Royce joins with Scandi carrier Widerøe to launch all-electric plane by 2026 March 11, 2021 Rolls-Royce has today announced a new partnership with Scandinavian regional carrier Widerøe to develop an all-electric commuter aircraft ready for service by 2026. The 11-seat plane is being designed for initial use in Norway, where extremely short flights are very common due to the country’s mountainous territory. The project is part of Norway’s plan to [...]
Rolls Royce’s £4bn loss: A sobering reminder of how much damage the pandemic has caused March 11, 2021 Rolls Royce was already in serious difficulty even before the pandemic wind came blowing in from China a year ago, due to problems with its Trent 1000 engine that powered the Boeing 787 Dreamliner. Today’s full year results were not any better,and did not come as a surprise for CMC Markets UK chief market analyst Michael [...]
MPs urge government to ensure travel restart plans are made public March 11, 2021 MPs have today urged the government to make public the Global Travel Taskforce’s recommendations when the body reports to the Prime Minister on plans for reopening travel on 12 April. In a new report, the parliamentary transport committee said that the failure to do so would rob the aviation industry of much-needed clarity. When the [...]
‘Unacceptable’ Heathrow queues risk UK’s economic recovery, airport says March 10, 2021 Heathrow’s chief operating officer has today said that the length of delays currently facing travellers at the UK’s biggest airport were “unacceptable”. Speaking to MPs at the Home Affairs Select Committee today, Emma Gilthorpe said that some people were having to queue for three to six hours to pass through border control. And she warned [...]
Ryanair launches vaccine passport-style ‘travel wallet’ March 10, 2021 Ryanair has today launched a coronavirus “travel wallet” into which passengers can upload documents showing they have had a vaccination or negative test result. The Irish carrier is one of a number of organisations that has been developing an app of this sort in order to enable people to travel more freely when restrictions are [...]