Daimler profits fall in “very challenging environment” for automotive industry October 25, 2018 German car maker Daimler reported that profits and revenue dropped sharply in the third quarter due to the “challenging environment” facing the automotive industry. The Mercedes-Benz owner reported a net profit of €1.8bn (€1.59bn) in the third quarter of the year, down from €2.2bn in the same period in 2017. Its earnings before interest and [...]
Go for growth and pursue the untapped potential of Crossrail October 25, 2018 You may have watched Stanley Kubrick’s 1987 film Full Metal Jacket, but it’s unlikely that you realised that much of the depiction of war-torn Vietnam was actually filmed on location in south east England. Beckton gasworks, less than a mile from London City Airport, was used as the set for the Vietnamese city of Hue, [...]
Flying high: Boeing sets sights on record-breaking year October 24, 2018 Shares in Boeing rose today as the company said it was on track to deliver a record year of plane sales. It also revised its full-year core earnings forecast to between $14.90 and $15.10 per share, a four per cent increase. Read more: Boeing braced for tariff rises as US-China trade war continues Revenues rose [...]
Hit the brakes: Watchdog bans adverts by Ford, Nissan and Fiat October 24, 2018 Ford, Nissan and Fiat have all had adverts banned today after the Advertising Standards Authority (ASA) ruled that the three car manufacturers had run adverts that promoted dangerous driving. Ford was criticised for a cinema and online advert that featured quotes from a Dylan Thomas poem, saying: “Do not go gentle into that goodnight. Old [...]
Porsche SE ordered to pay damages over emissions scandal disclosures October 24, 2018 Porsche SE has been ordered to pay damages to shareholders and charged with violating disclosure rules connected to the diesel emissions scandal, law firms involved in the case said. Read more: Regulator hits Audi with €800m fine Investors sued the company for failing to tell shareholders about the emissions scandal quickly enough, as the holding [...]
Daimler and Volvo-owner Geely to build a luxury Uber rival in China October 24, 2018 Chinese carmaking group Geely has partnered with German manufacturer Daimler to form a joint venture that will see the two firms launch a premium ride-hailing service in China. The deal will create a new rival to local firm Didi Chuxing, which dominates the market with 217m users last year after merging with Uber China in 2016. [...]
Central Line strike to go ahead on same day as Piccadilly Line walkout October 24, 2018 Central Line train drivers will stage a 24-hour strike next month, on the same day as industrial action on the Piccadilly Line, over a "breakdown in industrial relations" between the tube union and Transport for London. The Rail, Maritime and Transport union announced that tube drivers will walk out on 7 November, joining previously announced industrial [...]
Stobart shares spiral on widening losses as boardroom battle takes its toll October 24, 2018 Southend Airport owner Stobart Group saw its losses increase by almost half in the six months to August, weighed down by ongoing legal disputes and an investigation into reports of bullying. Shares in Stobart fell over nine per cent as markets opened this morning. The figures Revenues at Stobart across its aviation, energy plants and civil [...]
Passengers warned not to travel to Waterloo station after major signal failure October 24, 2018 Rail passengers have been urged not to travel to Waterloo station this morning after a major signalling failure. South Western Railway advised passengers not to travel to Waterloo and to seek alternative arrangements. Read more: Revealed: London's worst train station Network Rail said in a statement: "There is a major signalling failure which is affecting [...]
Londoners to fund Uber’s £200m plan for cars to go fully electric by 2025 October 23, 2018 All Uber cars driving in London will be fully electric by 2025 under the firm's new clean air plan for the capital, funded by its citizens through a fares hike. From early next year, a so-called clean air fee will be added to every Uber ride at 15p per mile, which will then be funnelled [...]