Flybe shares head skyward as it braces for bidding war November 26, 2018 Flybe shares soared over 23 per cent in trading this morning on reports it has landed at the centre of bidding war between industry rivals Sir Richard Branson and Willie Walsh. Walsh’s International Airlines Group (IAG) is in hot competition with Branson’s Virgin Atlantic, according to reports over the weekend which have sent the budget [...]
The new face of piracy: cyber crime is threatening the shipping industry November 26, 2018 When you think of the word pirate, you probably start to imagine the yo ho ho, Jack Sparrow-sort of buccaneer from Disney movies. Modern-day piracy comes in two varieties. There’s the digital kind: people illegally downloading music or films from the internet. Then there’s the more traditional kind: groups who hijack sea vessels to steal [...]
Melrose share price tumbles following low-ball bids for GKN unit November 26, 2018 Turnaround specialist Melrose led FTSE fallers today as its share price fell over six per cent following reports of disappointing bids for one of its GKN units. Melrose, which bought aerospace company GKN in an £8bn hostile takeover earlier this year, was reportedly forced to reconsider its options after it was low-balled by bids for [...]
Rail industry launches ombudsman to deal with flurry of complaints following May timetable chaos November 26, 2018 The rail industry has today launched the first ever ombudsman to deal with the high volume of complaints from passengers in the wake of May's timetable chaos. Customers are now able to appeal directly to the free-to-use ombudsman if they are unsatisfied with how their complaint has been handled by individual train companies, or they haven't [...]
‘Good chance of death’: Billionaire Elon Musk says he plans move to Mars despite huge risks November 25, 2018 Billionaire Tesla founder Elon Musk has said he is more likely than not to move to Mars, despite the huge personal risk. The Space X chief executive said there is a 70 per cent chance of him getting to the red planet, but likened the trip to Ernest Shackleton’s dangerous journeys to the Antarctic. “We’ve recently [...]
Aston Martin shrugs off Brexit fears with plan to double production by 2025 November 25, 2018 James Bond may have to change his car if he wants to stand out from the crowd as Aston Martin’s chief executive today revealed plans to double production by 2025. The company is shrugging off concerns around Brexit and slowing Chinese demand as it looks set to make 6,400 cars this year, but it has [...]
Sadiq Khan faces fresh scrutiny over Crossrail delay after July dossier emerges November 25, 2018 London mayor Sadiq Khan is facing fresh questions over what he knew about the delay to Crossrail following the emergence of a dossier from July that indicated the £15.4bn project would not open on time. Khan has repeatedly said that he was only informed of the delay two days before it was made public on 31 August, [...]
Arch rivals Walsh and Branson in bidding war for struggling airline Flybe November 25, 2018 Arch airline rivals Willie Walsh and Richard Branson are set to go head to head in a bidding war for struggling airline Flybe. Walsh, who is chief executive of British Airways owner International Airlines Group (IAG), is facing competition from Branson’s airline Virgin Atlantic as the two carriers vie to take control of Flybe, which [...]
Ex-Nissan chair Carlos Ghosn denies misconduct allegations November 25, 2018 Carlos Ghosn, the former chairman of car giant Nissan, who was arrested and detained last week over allegations he under-reported his remuneration, has reportedly denied the allegations made against him. Ghosn, who was ousted from Nissan after his arrest following an internal company investigation, has not yet spoken out publicly. According to reports by Japanese [...]
London’s super sewer Thames Tideway Tunnel facing cost pressures November 24, 2018 The construction of London’s super sewer has hit cost problems due to a catalogue of engineering challenges, the project’s holding company has confirmed. Several cost pressures have been identified on the Thames Tideway Tunnel project, with total project costs for the six months to the end of September hitting £325.3m and bringing the total cost [...]