Aston Martin raises £216m to clear debts and bolster EV transition August 1, 2023 Aston Martin said it had successfully raised £216.1m through a share placing scheme this morning, in order to pay down debts that have held back the business over the last few years and bolster its electrification strategy. The luxury marque said that just over 58 million shares had been distributed, raising proceeds of £216.1m at [...]
Toyota doubles profits as EV push ramps up August 1, 2023 Toyota Motor Corp nearly doubled its profits in its first quarter results, on the back of strong sales and an improved supply of semi-conductors. The Japanese automaker saw operating profits for the period between April and June rise 94 per cent to 1.2trn yen (£6.12bn), up from 578.66bn yen (£3.15bn) year-on-year. Sales revenues jumped 24.2 [...]
Aston Martin to launch £210m share placing to reduce debt August 1, 2023 Luxury carmaker Aston Martin aid on Monday it will launch a £210m share placing to speed up its aim to reduce net leverage. Shareholders, who are represented on board, have committed to subscribe £184m, of which £115m worth of shares will be bought by Yew Tree Overseas, Public Investment Fund, Geely International and Mercedes-Benz AG. The [...]
London commuters are our ‘most important’ e-bike users, says Lime boss July 31, 2023 London’s commuters are our “most important” riders, the CEO of the e-bike operator Lime has said. Speaking to City A.M. Wayne Ting, Lime’s chief said that “commuting is the most important use case” for the popular vehicles as demand soars in the capital. Lime has seen a 10 per cent monthly increase in riders in [...]
Electric vehicle charging roll-out slowed by local authority delays, research shows July 31, 2023 The roll-out of electric vehicle charge points has been slowed by delays at the local authority level and is currently set to fall well short of government targets, new research has found. FOI data obtained by the law firm RPC shows 8,000 chargers were installed by local authorities in the UK over the last year, [...]
Heathrow boss: Aviation sector can’t bank on soaring demand continuing into winter July 31, 2023 The aviation sector should not bank on soaring demand continuing, the boss of Heathrow airport has warned, amid concerns that airlines could struggle after summer without corporate travels’ sustained recovery. “We all want to make the most of the demand while it’s here but we can’t bank on it continuing,” long-time chief John Holland-Kaye told [...]
Rishi Sunak: 2030 petrol and diesel car sale ban is here to stay July 31, 2023 The 2030 ban on the sale of petrol and diesel vehicles will remain as a government policy, Prime Minister Rishi Sunak has said. Speaking on BBC Radio Scotland’s morning show, Rishi Sunak insisted a ban on “sale of new cars,” has been the policy “for a long time,” and “remains the government’s policy.” “I’m committed [...]
Two hour Dover delays on one of ‘most popular mornings of summer’ July 29, 2023 Travellers are facing waits of up to two hours at the Port of Dover during one of the most popular mornings of the summer, officials have said. A nine-lane-wide queue stretched alongside the white cliffs throughout Saturday morning on the approach to the border where French guards were checking passports. Port of Dover officials said [...]
Not helpful if NatWest chair quits over Farage feud, says City minister July 29, 2023 It would not be “helpful” for the NatWest chairman to quit now as the bank seeks to rebound from the crisis over Nigel Farage’s Coutts bank account, the City minister has said. Andrew Griffith, who has led the Government’s response to the row, offered his backing to Sir Howard Davies after days of pressure on the [...]
Mick Lynch accuses government of preventing settlement as Saturday strike begins July 29, 2023 The leader of the biggest rail workers’ union has accused the Government of preventing a settlement to the long-running dispute over jobs, pay and conditions, which is causing fresh travel disruption on Saturday. Members of the Rail, Maritime and Transport union walked out for the day, leading to the widespread cancellation of train services. The [...]