Gett eyes 2020 flotation and profitability as it raises $200m at a $1.5bn valuation May 8, 2019 Taxi-hailing firm Gett said it has raised $200m (£153m) in additional funding yesterday, with a flotation on the cards “as soon as the first quarter of 2020”. It added it is on track to become operationally profitable globally by the fourth quarter of this year, including its US operation. Read more: Uber drivers to stage [...]
Chris Grayling ducks questions from MPs over controversial East Midlands franchise award May 7, 2019 Embattled transport secretary Chris Grayling did not show up today for questions from MPs about his controversial decision to bar Stagecoach from three rail franchises, sending a junior minister instead. Grayling had been asked by Labour's shadow rail minister Rachael Maskell to answer concerns that he misled parliament over the decision, which disqualified Stagecoach from [...]
Uber drivers to stage nationwide protest tomorrow before headline IPO May 7, 2019 Uber drivers are gearing up for a national boycott of the app tomorrow ahead of the firm's highly anticipated public listing later this week. Uber drivers in London, Birmingham, Nottingham and Glasgow will not log into the app between 7am and 4pm tomorrow to protest at the IPO, which they claim will result in payouts to venture capitalists [...]
Thomas Cook shares soar following Lufthansa bid for airline business May 7, 2019 Shares in Thomas Cook have soared by more than 12 per cent this morning following Lufthansa's decision to bid for its Condor airline business. The German airline Lufthansa is to make a non-binding offer for Thomas Cook's Condor airline business, according to its chief executive Carsten Spohr. Shares were up 12.13 per cent at the time of writing. [...]
Car sales fall as removal of subsidies and Brexit take toll May 7, 2019 The number of new cars registered in the UK fell 4.1 per cent in April compared to the year before, as demand among consumers shrank, according to official figures released today. Read more: Brexit stockpiling slowdown hurts UK manufacturing growth Meanwhile, registration of new plug-in hybrids declined dramatically, falling 34.4 per cent year-on-year. The drop [...]
BMW profits crash 76 per cent as it gears up for €1.4bn EU antitrust fine May 7, 2019 German car manufacturer BMW has posted a steep fall in first-quarter profits after it put aside €1.4bn (£1.2bn) for a possible EU antitrust fine. Read more: BMW flashes warning lights as mounting costs hit forecasts The figures Group revenues slipped a marginal 0.9 per cent to €22.5bn in the first quarter. Pre-tax profit plunged 76 [...]
Air Canada shakes off Boeing 737 Max issues with profit above expectations May 6, 2019 Air Canada has posted a surprise profit in the first quarter of 2019, with more passengers and a new loyalty program overcoming rising costs and the impact of the global grounding of Boeing’s 737 Max aircraft. Shares in the airline, Canada’s largest carrier, jumped more than four per cent after the company announced a 9.4 [...]
Boeing says it knew about aircraft issue with 737 Max jets a year before deadly crashes May 6, 2019 Boeing has admitted its engineers discovered an issue with the 737 Max aircraft in 2017 – a year before the aircraft was involved in two deadly crashes – but took no action. In a detailed statement, the world’s largest aerospace company said an angle of attack (AOA) disagree alert, an alarm that tells pilots when two [...]
Shares in Aeroflot fall three per cent after plane crash kills 41 people May 6, 2019 Shares in Russia’s largest airline, Aeroflot, fell by more than three per cent after a plane burst into flames in a crash-landing on Sunday at a Moscow airport, killing 41 people. A Sukhoi Superjet 100 aircraft carrying 73 passengers and five crew was struck by lightning as it took off towards Murmansk, in Russia’s northwest. Two [...]
Car maker shares fall on Donald Trump tariff hike threats as US – China trade war escalates May 6, 2019 Shares in European car makers tumbled today after Donald Trump threatened to hike up tariffs on Chinese imports to the US, marking an escalation in the ongoing trade war between the two countries. The Stoxx Europe 600 Automobiles and Parts index was down 3.3 per cent following Trump’s remarks as all of its 16 component [...]