Renault-Nissan executives planned secret Ghosn payout via Dutch company December 19, 2018 Bosses at Renault and Nissan planned to pay part of Carlos Ghosn’s salary through Dutch holding company Renault-Nissan BV (RNBV), according to documents seen by Reuters. Senior executives at the two car manufacturers, including Renault’s general secretary Mouna Sepehri, reportedly proposed the scheme to pay Ghosn’s Nissan compensation in 2010. The revelations come as the [...]
Elon Musk unveils the first high-speed Boring hyperloop tunnel in California December 19, 2018 Entrepreneur and Tesla chief Elon Musk has lifted the curtain on the first tunnel completed by his underground high-speed rail venture the Boring Company. In a 30-minute presentation, Musk described the 1.14 mile tunnel as a breakthrough in counteracting the "soul-destroying" traffic of Los Angeles, California. Despite previously suggesting the public would be offered free [...]
The changes that could shake up your finances in 2019 December 19, 2018 We Brits approach 2019 with a sense of dread, waiting with bated breath to find out how (and if) the UK leaves the European Union on 29 March. There’s no doubt that Brexit will affect various corners of our finances, but perhaps the real game-changer for our money will be the ongoing push to make [...]
Virgin still weighing its options for Flybe takeover as budget airline shares soar December 19, 2018 Shares in struggling low cost airline Flybe have taken off this morning after Virgin Atlantic said it was still considering a potential takeover bid. Sir Richard Branson’s airline opened talks to buy the company last month after the Exeter-based airline puts itself up for sale. Virgin confirmed this morning that it was still “reviewing its [...]
National Grid gets shock as Ofgem lowers cap on shareholder payouts December 18, 2018 Ofgem will slash the amount of money network providers can pay to their shareholders under plans announced today, a move which it said could save customers around £45 a year. In an announcement which sent National Grid shares down over nine per cent to 759p, the regulator said it would set the baseline returns at [...]
AA wins multi-million-pound contract to service VW cars December 18, 2018 The AA today secured a two-year extension to its contract with Volkswagen in a deal worth tens of millions of pounds. The breakdown cover provider will continue to cover all new vehicles in the Volkswagen group, which includes Audi, Seat and Skoda, the company said today. The two companies have worked together since 2014, and [...]
South Korea announces $3bn support package for embattled car part companies December 18, 2018 The South Korean energy ministry has unveiled a raft of measures designed to support the country's strained car parts industry, including a liquidity injection and improved subsidies for electric cars. The announcement follows the closure of a General Motors’ South Korean subsidiary factory earlier this year and a downturn in profits at Seoul-based car manufacturer Hyundai [...]
Wizz Air to overtake Easyjet as Luton Airport’s largest airline with arrival of new routes from next summer December 17, 2018 Ultra low-cost carrier Wizz Air has said it will overtake Easyjet as Luton airport's largest carrier once six new routes come into force from next summer. Wizz Air UK, a subsidiary set up as a Brexit contingency plan, will bring in two new Airbus A321CEO aircraft from next summer, along with six new routes. The announcement [...]
Don’t spend a penny: Network Rail to scrap all toilet charges from April next year December 17, 2018 Network Rail is to scrap toilet charges at all of its stations from 1 April. In March the former chief executive of Network Rail, Mark Carne, pledged to scrap the charge at all of its stations from 2019, saying it was "quite wrong to penalise people when they are in discomfort". Currently charges at stations in London, [...]
Uber to hire team for Jump electric bikes launch in the UK December 17, 2018 Ride-hailing giant Uber is exploring plans to launch operations of its electric bicycle arm in the UK, entering an already-crowded space from the likes of Chinese startups Ofo and Mobike. Uber bought electric bike startup Jump in April, and has since been trialling the use of its bikes in the US and Germany. It is now [...]