All change at Stagecoach as chairman steps down December 11, 2019 Stagecoach suffered a fall in revenue in the first half of the financial year, as chairman Sir Brian Souter said he planned to step down this morning. The company said the fall in profit and revenue reflected the changing size of its business, as it updated market for the first time since it relinquished control [...]
‘Warning bells’: Former Boeing employee to testify after 737 Max concerns December 10, 2019 A former Boeing employee has spoken of his guilt that he did not do more to try to alert people to the dangers of the 737 Max jet, before giving what could be damning evidence against the firm tomorrow. Boeing’s 737 Max was grounded after being involved in two deadly crashes in Indonesia then Ethiopia, [...]
Car sales fall for 17th straight month in China, as global market suffers December 10, 2019 Chinese car sales fell for a 17th consecutive month in November, as electric and hybrid car demand contracted yet again. Total automotive sales from the world’s biggest market fell 3.6 per cent compared to the same period last year, according to the China Association of Automobile Manufacturers (CAAM). Read more: Car production falls again amid [...]
Nissan faces £17m fine for Carlos Ghosn scandal, says Japanese watchdog December 10, 2019 The scandal engulfing Nissan over its disgraced former chairman Carlos Ghosn has brought the car maker a fine worth £17.1m from Japan’s markets watchdog. Nissan’s penalty is the second-largest ever in Japan for false financial reporting, and has been imposed for understating Ghosn’s pay, after he was arrested in dramatic circumstances in November last year [...]
Thomas Cook: Regulator ‘very sorry’ for refund delay as customers wait more than two months December 10, 2019 Britain’s aviation regulator has apologised to thousands of Thomas Cook customers facing delays to refunds owed to them after the travel firm collapsed. Paul Smith, director of the Civil Aviation Authority, said the organisation was “very sorry,” adding that the CAA was “working tirelessly” to put the payments through. Read more: Gatwick airport to lose [...]
General Election 2019: The rail industry’s Christmas wishlist December 10, 2019 The rail industry is on the verge of the most precipitous change since John Major took it private 28 years ago – whether it likes it or not. On the one hand, the Conservatives are likely to tear apart the system which decides who runs each line – known as franchising – having grown impatient [...]
Jaguar Land Rover sales fall despite hopes for Chinese recovery December 9, 2019 Jaguar Land Rover sales fell last month, despite the car maker seeing “green shoots” of a recovery in the all-important struggling Chinese market. The manufacturer, which is owned by Indian conglomerate Tata, saw retail sales drop 3.4 per cent year-on-year in November. Read more: British car industry troubles run far deeper than Brexit But in [...]
Watch Tesla boss Elon Musk take his Cybertruck out for a spin December 9, 2019 Outspoken Tesla boss Elon Musk has yet again used his celebrity status to promote his latest product, taking the controversial Cybertruck out for a night on the town in Malibu. The eccentric billionaire, who was last week cleared of defamation for calling a British cave diver a “pedo guy” on Twitter, arrived at paparazzi hotspot [...]
New era as Avanti begins running West Coast Main Line services December 8, 2019 A new era began for West Coast Main Line train services this morning as Avanti completed its first journey from London Euston to Manchester. Avanti, the franchise managed by the partnership of Aberdee’s FirstGroup and Italy’s Trenitalia, has taken over from Virgin Trains, which has run the line since 1997. Read more: Virgin Trains’ manager [...]
Ex-Addison Lee chief races to secure rescue deal December 8, 2019 The former chief executive of minicab operator Addison Lee is scrambling to secure a rescue deal for the firm. Liam Griffin, who stepped down as chief executive in 2015 but remained on the board as vice-chairman, has approached investment funds to back his £125m takeover of the firm, Sky News reported. Read more: Cerberus mulls [...]