Flybe shareholder demands EGM in bid to oust chairman as row over cut-price sale continues January 26, 2019 Flybe’s largest shareholder have requisitioned an extraordinary general meeting (EGM) next week where they will demand the company’s chairman be sacked. Hosking Partners owns just under 19 per cent of Flybe and are contesting the cut-price sale of the struggling airline to a consortium that is led by Virgin Atlantic. The aim of the meeting [...]
Energy supplier Our Power “ran out of cash” as investors ran scared after string of bankruptcies in sector January 26, 2019 Failed Scottish energy provider Our Power “ran out of cash” the company’s chairman said just hours after being forced to admit defeat in the battle for its survival. Our Power, which serves 38,000 customers mainly in Scotland and Wales, became the eleventh small supplier in a year to close its doors yesterday as rising wholesale [...]
Our Power collapse: What to do if your energy supplier fails January 25, 2019 Our Power has added its name to a long list of small energy suppliers to go out of business in the past year. It joins Economy Energy, One Select, Spark Energy, Extra Energy, Usio Energy, Electraphase Energy, National Gas & Power, Iresa Energy, GEN4U, and Future Energy. Here’s our guide to what to do when your [...]
Customers left in limbo as Scottish-government backed energy supplier goes out of business January 25, 2019 Around 38,000 customers were been left in limbo today after a Scottish energy supplier became the eleventh provider to go out of business in just a year. Ofgem has encouraged those affected by Our Power’s collapse to sit tight as it works to find a new supplier to take over their accounts. Customers’ credit balances are [...]
Volkswagen invests £750m in electric battery manufacturing ahead of e-vehicle mass production January 25, 2019 Volkswagen is to start making electric car batteries and charging points, as it readies itself to mass produce electric vehicles in the coming years. The German car maker said today it will invest $870m (£754m) by 2020 in developing parts for electric cars, adding its batteries operation would make new battery cells as well as [...]
Hyundai to lay off Chinese workers in wake of disappointing fourth-quarter sales January 25, 2019 South Korean car maker Hyundai has announced it is cutting jobs in China, after it reported a slump in quarterly sales in the country yesterday. “Hyundai Motor is reviewing various optimisation plans to enhance facility efficiency around the Chinese New Year holidays,” it said in a statement on Friday. Read more: Hyundai hit by first quarterly [...]
Jaguar Land Rover extends planned shutdown over Brexit concerns January 24, 2019 Jaguar Land Rover has announced plans to close its UK plants for an extra week in April due to the potential disruption caused by Brexit. The car giant’s three assembly plants, in Solihull, Halewood and Castle Bromwich, and its engine plant in Wolverhampton were all due to close from 15-23 April as part of planned [...]
Nationalise plant if you want to save nuclear plans, Hitachi chairman tells government January 24, 2019 Hitachi’s nuclear plants in the UK will only go ahead if the government nationalises them, the chairman of the Japanese giant has said. The shock statements at the World Economic Forum in Davos came just a week after Hitachi abandoned the £16bn Wylfa nuclear plant in north Wales. Read more: Government faces headache as Hitachi pulls out [...]
Bills could change more than ever under government’s energy price cap, experts warn January 24, 2019 The government’s energy price limit will cause prices to fluctuate more than ever, experts are warning as Ofgem looks set to raise the cap just months after it was first introduced. The “significant” rise is expected to reach around £80 to £100 a year industry insiders say, higher than the touted £76 per annum savings [...]
British Airways-owner International Airlines Group rules out new bid for Norwegian Air January 24, 2019 British Airways owner International Airlines Group (IAG) will not make an another offer to buy Norwegian Airl and announced it will sell its remaining stake in the company. Norwegian’s share price fell as much as 26 per cent – the lowest level since 2012 – on the news that a potential deal is off the table. [...]