Crossrail 2 may already be facing delays, says Sadiq Khan January 16, 2020 Crossrail 2 may have been delayed before government approval has even been given, according to Sadiq Khan. The £41.3bn rail project – a new Tube line running from North to South London – is in limbo as it awaits for the Department for Transport (DfT) to deliberate on its business plan. Under the current funding [...]
Smart meter firm Calisen confirms £1.5bn float plans January 16, 2020 Smart meter firm Calisen today confirmed its intention to float on the London Stock Exchange next month with the goal of raising £300m. The float will value the company at around £1.5bn. The energy company, which is backed by private equity firm KKR, said it would use the funds to pay down debt, support future [...]
PSA suffers 10 per cent slump in sales for 2019 January 16, 2020 The parent company of Vauxhall and Peugeot suffered a 10 per cent slump in sales last year, as declining volumes in China, the Middle East and Africa came to bear on the car maker. PSA, which is part-way through a merger with Fiat Chrysler, saw sales decline by 2.5 per cent in its home European [...]
Renault chairman: ‘Real desire’ to make faltering Nissan alliance work January 16, 2020 Renault’s chairman has dismissed claims that the 20-year partnership between the French manufacturer and Nissan might be breaking down. Jean-Dominique Senard said today that there was a “real desire” at the alliance to make a success of it. This comes despite more than a year of turmoil caused by the arrest of its architect Carlos [...]
European Investment Bank backs Uber rival Bolt with €50m January 16, 2020 The European Investment Bank (EIB) is to provide Bolt with €50m (£43m) financing to the help ride-hailing app develop its technologies. The financing, supported by the European Fund for Strategic Investments (EFSI), is to boost Bolt’s product development in areas where technology can improve the safety, reliability and sustainability of its services. Read more: Bolt [...]
Hyundai and Kia inject €100m in London electric vehicle scaleup January 16, 2020 Car making giants Hyundai and Kia will today reveal a €100m (£85.6m) in London-headquartered electric vehicle firm Arrival. The move will mark the beginning of a strategic partnership between the trio which will see Hyundai and Kia use the scaleup’s technology to develop mobility solutions and electrify their vehicles. Arrival, which has more than 800 [...]
DEBATE: Was the government right to bail out Flybe? January 16, 2020 Was the government right to bail out Flybe? Rob Burgess, editor of the UK’s biggest frequent flyer website headforpoints.com, says YES. Sitting in London, it is easy to think that Flybe should be allowed to fail. Sit in the departure hall at Exeter Airport, or Southampton, or one of the other regional hubs where Flybe [...]
Londoners have more two-hour commutes than anywhere in Europe January 15, 2020 Londoners have more two-hour commutes on average than anywhere else in Europe, according to a new survey. A study from Israeli app Moovit found that five per cent of all London and South East commutes are two hours or longer. Read more: TfL renames Piccadilly Tube station to celebrate new Star Trek film This was [...]
Revealed: Why the government bailed out Flybe, but not Thomas Cook January 15, 2020 At first glance, some might find it hard to understand why the government decided to save Flybe – a small, regional airline – but not holiday giant Thomas Cook. After all, when the latter went bust in September more than 150,000 Brits were left stranded abroad, prompting a mammoth repatriation effort by the Civil Aviation [...]
Carlos Ghosn claims French ambassador warned him in advance of ‘Nissan plot’ January 15, 2020 Former Nissan chairman Carlos Ghosn has claimed the French ambassador warned him just before his November 2018 arrest that his own company was plotting against him. “Frankly, I was shocked by the arrest and the first thing I asked is make sure Nissan knows so they can send me a lawyer,” Ghosn told Reuters in [...]