Lorry driver shortage: Govt promises 50,000 more HGV driving tests September 11, 2021 The government has announced that it will make 50,000 more Heavy Goods Vehicles (HGV) driving tests available a year in response to “the worldwide lorry driver shortage”. Covid has led to a major backlog of tests for new drivers – 28,000 as of May this year – while the recent ‘pingdemic’ has caused many drivers to [...]
Toyota cuts annual production target as semiconductor shortage and Covid outbreaks weigh September 10, 2021 Car giant Toyota today said that it would slash its global production target by 300,000 units as a combination of the semiconductor shortage and the coronavirus continue to hammer output. Having already announced that it would cut production in September alone by 360,000 cars, the Japanese automaker said it would have to reduce output by [...]
More traffic looms over cities if rail fails to win back commuters hearts September 10, 2021 Cities like London could be struck by more traffic jams and business closures if train commuting fails to meet pre-pandemic levels, the rail industry has warned. Train commuting is at just 33 per cent of 2019 levels, according to the Rail Delivery Group (RDG), with some commuters opting for cars instead. Commuters were deterred from [...]
Petrol station firm EG Group mulls ‘potential $15bn sale’ September 9, 2021 Petrol station forecourt giant EG Group is reportedly mulling options for its future, including a potential sale. Bloomberg reported that a deal to sell the company, which is backed by the billionaire Issa brothers and private equity firm TDR Capital, could fetch as much as $15bn. The firm could also go for an initial public [...]
Easyjet shares dive as carrier rejects takeover bid ‘from Wizz Air’ and flags £1.2bn rights issue September 9, 2021 Easyjet this morning said that it had rejected an unsolicited takeover bid as it announced a new £1.2bn rights issue. Shares in the FTSE 250 firm were down 10.2 per cent by the time markets closed this evening. The budget carrier said that the bid had took the “form of a low premium and highly [...]
No more green lists and amber lists? Traffic light system set to go by October September 9, 2021 The traffic light system for travel during the Covid era – detested by the industry as complex and unecessary – looks set to be replaced, with an announcement due by the end of the month. The UK government is due to assess the necessity of the system, which delegates destinations as green list, amber list [...]
Lookers posts record first half profit after ‘exceptionally strong’ trading September 9, 2021 Used car dealership Lookers said that it would look to reinstate dividend payouts “as soon as possible” after an “exceptionally strong” performance in the first half of the year. The London-listed firm said it had swung back into the black after last year’s £36m first half loss, posting a record £50.3m profit. It added that [...]
Boeing board faces shareholder lawsuit over two fatal 737 MAX crashes September 8, 2021 A Delaware judge has ruled that Boeing’s board of directors must face a lawsuit from shareholders over two fatal 737 MAX crashes that killed 346 people in less than six months. Watch the full report.
Exclusive: Haulage firm insolvencies highest since January 2019 as Brexit and driver shortages bite September 8, 2021 June 2021 saw 31 haulage firm insolvencies, the highest in a single month since January 2019 as Brexit and driver shortages bite, according to data from Tower Bridge-based audit firm Mazars that was shared exclusively with City A.M. this afternoon. The fall in shipments between the UK and EU and between Great Britain and Northern Ireland since Brexit has [...]
Auto Moves: Ford poaches Apple car project lead Doug Field September 8, 2021 The leading vice president behind Apple’s car project, Doug Field, has reportedly been poached by rival car manufacturer Ford. Field, a veteran in the automotive industry, most recently served as vice president of special projects at Apple and was formerly senior vice president of engineering at Tesla. Set to lead Ford’s software and connectivity strategy, [...]