Carlos Ghosn offers electronic tagging and holdings in Nissan in bid to overturn bail refusal January 21, 2019 Carlos Ghosn has volunteered to wear an electronic ankle tag and hire security to keep watch on him in a last ditch attempt to secure bail after being imprisoned in Japan for alleged financial misconduct. The ousted Nissan chairman has also offered to post stock he owns in the company as collateral and hand over [...]
Electric cars expected to reach 21m globally by 2030 January 21, 2019 There will be an additional 21m electric vehicles on the road globally in the next decade, according to new analysis by audit firm Deloitte. In 2018 there were two million electric cars, with Deloitte predicting the number to rise to four million in 2020, 12m in 2025 and 21m by 2030. The report predicts battery [...]
Government under pressure to ban Huawei from 5G upgrade January 20, 2019 The government is facing pressure to decide whether to ban Chinese company Huawei from involvement in the UK’s 5G infrastructure upgrade. Commons science and technology committee chairman Norman Lamb has pressed culture secretary Jeremy Wright to explain whether the UK will ban the telecoms giant over concerns about espionage. America, New Zealand and Australia, which [...]
Michelin chief Jean-Dominique Senard is a potential successor to Carlos Ghosn at Renault after praise from France’s finance minister January 20, 2019 Michelin chief executive Jean-Dominique Senard could be in line to replace Carlos Ghosn as boss of French car company Renault, following comments made on Sunday by French finance minister Bruno Le Maire. Ghosn, who headed up the three-way alliance between Renault, Nissan and Mitsubishi, is being held in Japan on numerous charges of alleged misconduct [...]
Flybe’s biggest shareholder threatens legal action over proposed £2m takeover January 19, 2019 The biggest shareholder of Flybe is considering legal action over the cut-price takeover of the airline, having accused the company’s directors of breaching duties to investors. London-based asset manager, Hosking Partners, owns 19 per cent of British airline Flybe and has asked lawyers to assess its options ahead of the proposed takeover from a consortium [...]
Ghosn received $9m in improper payments from Dutch joint venture, Nissan says January 18, 2019 Embattled car executive Carlos Ghosn received $9m (£7m) in improper compensation from a joint venture between Nissan and Mitsubishi, the firms have claimed. The car manufacturers said Ghosn was paid by a Netherlands-based joint venture without the knowledge of Nissan chief executive Hiroto Saikawa or Mitsubishi boss Osamu Masuko. Read more: Renault-Nissan executives planned secret Ghosn payout [...]
Violent crime on the Tube rises 43 per cent in three years January 18, 2019 Violent crime on the London Underground has soared by more than 43 per cent over three years, according to police data. There were 2,838 reports of violence on London’s Tube network between November 2017 and September last year, compared to 1,980 incidents between November 2015 and October 2016, British Transport Police (BTP) figures show. Read more: [...]
Eddie Stobart revenues beat market expectations thanks to new purchases January 18, 2019 Eddie Stobart beat market expectations to grow revenues 35 per cent to £843m for the 12 months to the end of November, it revealed today. Read more: New contract wins accelerate growth at Eddie Stobart The logistics giant beat 2017’s haul of £624m as its top line was fuelled by newly acquired subsidiaries iForce, Speedy [...]
Ryanair slashes profit guidance by €100m amid falling revenue January 18, 2019 Ryanair today issued a profit warning, saying it was reducing its full-year profit guidance by €100m (£88m) due to a drop in revenue from winter fares. The budget airline said it expects profit after tax of between €1bn and €1.1bn, down from a range of €1.1bn to €1.2bn. Read more: Ryanair profits slide as strikes, cheaper [...]
Business groups worried over energy future as Hitachi pulls out of Welsh nuclear plant January 18, 2019 Business groups were left exasperated yesterday as another core investor pulled its support from the UK nuclear sector, denting the government’s energy plans. Japanese giant Hitachi said it would suspend work on the £16bn Wylfa nuclear power plant which was intended to produce six per cent of the UK’s electricity. Protracted discussions with the government, [...]