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, [...]
Exclusive: Share price drops and less access to capital loom if supply chain issues persist, City insiders warn September 8, 2021 Investment managers in the City and across the UK warn that companies without sustainable supply chains will attract less investment and see share prices fall, according to a new report shared exclusively with City A.M. this morning. Nearly 85 per cent of investment managers believe that businesses who do not fix supply chain sustainability initiatives [...]
BA in ‘advanced’ talks over new Gatwick carrier September 7, 2021 The chief executive of British Airways has said that the airline is in “advanced” talks with its unions over the launch of a new low-cost carrier at Gatwick Airport. Speaking at an event at Heathrow, Sean Doyle said that BA wanted to set up a unit with a “competitive cost platform”. However, he warned that [...]
New London-Edinburgh rail service to offer £15 tickets September 7, 2021 A new train service will offer one-way tickets from London to Edinburgh for less than £15, it was announced today. First Group-owned Lumo will begin running services on the east coast mainline from 25 October. The 100 per cent electric service is a bid to encourage people to take the train rather than fly between [...]
‘September surge’ continues apace as Tube and bus passengers rise again September 7, 2021 Commuters continued to rush back to public transport this morning, new figures from Transport for London (TfL) show, with both Tube and bus passenger numbers up sharply again this morning. Between 7am and 8am, there were 298,600 “taps” on the Tube, up 33 per cent on last week and 8.0 per cent on yesterday, while on [...]
TfL seeks new partner for cable car with Emirates deal set to end September 7, 2021 Transport for London (TfL) is seeking a new commercial partner for the cross-Thames ‘Air Line’ cable car with Emirates’ decade-long sponsorship set to end next year. Since it opened in 2012 ahead of the London Olympics, there have been over 13m journeys on the capital’s only cable car. The 1km line, which links Greenwich to [...]
Watch: Daimler presents all-electric Mercedes EQE at Munich car show September 7, 2021 Daimler has presented their new Mercedes EQE, the first fully electric vehicle for the premium carmaker’s high-performance AMG brand and a concept car for its luxury Maybach brand ahead of the Munich IAA car show opening. Watch the full report.
Global chip shortage casts shadow over Munich car show September 7, 2021 Car manufacturers are busy unveiling new electric vehicles at the Munich car show, but the global shortage of chips is casting a shadow over the event. Watch the full report.