Lookers makes changes at the top after ‘challenging’ 2019 February 5, 2020 Car dealership chain Lookers today announced a raft of changes to its senior leadership, with Mark Raban and Cameron Wade announced as the firm’s chief executive and chief operating officer. In November Andy Bruce and Nigel McMinn stepped down from Lookers’ board after the firm issued a profit warning. Raban moves into the top job [...]
Babcock chief steps down after four years in top job February 5, 2020 Babcock, the UK-based defence infrastructure company, today announced that its chief executive Archie Bethel will retire after four years in the top job. Bethel joined the FTSE 250 firm in 2004 and held a variety of posts, such as head of its maritime and technology division, before becoming the group’s chief in 2016. While at [...]
Air Asia chief executive Tony Fernandes denies $50m bribery claims February 4, 2020 The chief executive of Malaysian airline Air Asia Tony Fernandes today denied allegations he was paid a $50m (£38m) bribe via his Formula 1 team by aircraft giant Airbus. Prosecutors alleged Airbus paid a bribe of $50m through sponsorship of the now-defunct Caterham F1 team which was owned by Fernandes to win orders from Air [...]
Fresh blow for Tesla short-sellers as shares fly past $900 February 4, 2020 Investors betting against Tesla were dealt a further blow this afternoon as the firm’s share price jumped more than 17 per cent in early trading. The electric car maker’s stock was up as high as $921 shortly after markets opened, before dipping to just above the $900 mark. It is the latest spike amid a [...]
Michael Gove doesn’t know how much charging points will cost UK February 4, 2020 Michael Gove has failed to say how much it will cost the government to build charging points to support the widespread use of electric cars by 2035. The Prime Minister today pushed forward the date by which all petrol, diesel and hybrid vehicles will be replaced by electric cars to 2035 at the latest. That [...]
COP26: Government brings polluting car ban forward to 2035 February 4, 2020 The government’s decision to bring forward the ban on petrol, diesel and hybrid cars to 2035 has drawn mixed reactions ahead of Glasgow’s COP26 summit. Previously, the government had planned to phase out petrol, diesel and hybrid cars by 2040 as part of its aspiration for the UK to be carbon neutral by 2050. But [...]
Wizz Air investors to sell shares worth £500m February 3, 2020 A major shareholder in Wizz Air today revealed plans to sell up to £500m worth of shares in the budget airline. The sell-off has been initiated by investment funds managed by US private equity firm Indigo Partners, which currently holds a stake of almost 21 per cent in Wizz Air. The airline, which mainly flies [...]
Fresh 737 Max delays hurt Ryanair’s passenger growth target February 3, 2020 Ryanair today warned Boeing 737 Max delivery delays will hurt growth plans as it swung back into profit in its third quarter. Ryanair was expecting its first delivery of the airplane to arrive in spring 2019. But it admitted that will now not happen until September or October 2020. The fresh Boeing 737 Max delivery [...]
Sales of e-scooters leap up over Christmas period despite UK ban February 3, 2020 Sales of battery-powered e-scooters jumped over the festive period last year, despite there being a ban on using the vehicles on public roads. Data collated by Swedish e-scooter startup Voi showed that sales of both e-bikes and e-scooters rose 96 per cent year on year in the three months to the start of January 2020. [...]
Business groups react as Heathrow expansion in doubt again February 2, 2020 Business groups warned that the failure to expand Heathrow would see the UK “fall behind the rest of the world” as the new runway’s future was again plunged into doubt this weekend. It emerged that Spanish infrastructure giant Ferrovial was reportedly considering selling its 25 per cent stake in the airport if it could not [...]