2035 zero emission car target a ‘mountain to climb’ for government, MPs say May 19, 2021 The government is facing a “mountain to climb” to deliver on its ambition to make all cars sold in the UK zero-emissions by 2035, MPs have said today. Ministers must address the twin challenges of up-front prices for electric cars, which remain notably higher than petrol and diesel cars, and providing enough charging infrastructure to [...]
Biden charges up $174bn electric vehicle plan in Michigan speech May 18, 2021 US President Joe Biden today called for government grants for new battery production facilities as he made the case for his $174bn (£123bn) electric vehicle plan today. During a speech at a Ford electric vehicle plant in Michigan, Biden vowed to “set a new pace” for the technology and reverse what he described as the [...]
$1.1bn EU pre-owned private jet market rebounded in the UK in 2020 May 18, 2021 The UK’s wealthiest bought 14 pre-owned private jets last year, worth $118.2m in total, nearly triple the number in 2019 due to pandemic travel restrictions, according to private jet broker Colibri Aircraft. The UK’s rebounding figure was because the pandemic grounded flights across the world, a spokesperson told City A.M. “There’s one client who said [...]
Jaguar Land Rover sinks to a loss after new CEO’s £1.5bn strategy reset May 18, 2021 Jaguar Land Rover sinks to a loss after new CEO's £1.5bn strategy reset
BA boss demands US go on travel green list as Hancock warns Brits off Spain holidays May 18, 2021 BA boss demands US go on travel green list as Hancock warns Brits not to holiday in Spain and France
Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
Used car firm Cazoo sees revenue surge fivefold May 18, 2021 Used car firm Cazoo today said that its revenue grew nearly fivefold in the first quarter as the online dealership continues its rapid expansion. The company, which was set up in 2018, said that revenue in the first period was £113.9m, compared with £19.6m last year. The increase is the result of the firm selling [...]
TfL granted 10 day funding extension as negotiations continue May 18, 2021 Transport for London (TfL) this morning announced that the government has extended its current funding deal for 10 more days while it continues to negotiations over a new package. The transport operator’s current deal, itself an extension of an earlier agreement, was due to expire today. But the network said the deal had been extended [...]
‘The Big Short’ investor reveals $534m bet against Tesla May 18, 2021 One of the hedge fund managers made famous by the Oscar-winning film The Big Short has taken out a sizeable short position against Tesla. In a regulatory filing yesterday, Michael Burry’s Scion Asset Management said it had bearish put options worth $534m against the electric car firm’s stock. Put options give investors the right to [...]
London e-scooter trial to launch in the City next month May 18, 2021 London’s trial of rental e-scooters will begin next month, it has been confirmed, with the City and Canary Wharf among the first areas to test the transport system. The financial hubs have been tapped alongside a core group of boroughs to take part in the trial, which will begin on Monday 7 June. More areas [...]