Jaguar Land Rover weighing up bid for London cab company Addison Lee April 28, 2019 Jaguar Land Rover (JLR) is weighing up an offer for London-based taxi company Addison Lee in a bid to keep up with companies such as Uber, the Sunday Telegraph reported yesterday. Read more: Jaguar and Addison Lee trial their driverless cars in London Addison Lee was put up for sale by its owner, US private [...]
Vauxhall issues third recall over Zafira fire risk April 27, 2019 Vauxhall has issued a recall for 235,000 Zafira people carriers for the third time over the risk that the cars could catch fire. The latest recall, which follows two previous recalls in 2015 and 2016, affects cars built between 2005 and 2014 which do not have electronic climate control, Sky News reported. Read more: Vauxhall [...]
Renault to propose joint holding company with Nissan April 27, 2019 French carmaker Renault is preparing to propose a joint holding company with Japanese partner Nissan to give the two firms equal footing, according to reports. Both carmakers would nominate an equal number of directors to the joint company which would be lead by Renault chairman Jean Dominique Senard, Reuters reported citing sources close to the [...]
Regional airline FlyBMI owed £37m when it collapsed April 27, 2019 Regional airline Flybmi owed £37m when it collapsed earlier this year, blaming rising fuel and carbon costs and Brexit uncertainty. The airline filed for administration in February and most creditors, including passengers and suppliers, might only receive one per cent of their claims, the BBC reported. Read more: BDO steps in as Flybmi administrator Passengers [...]
Uber IPO will value ride-hailing firm at up to $90bn, SEC filing confirms April 26, 2019 Uber is set to pitch shares at between $44 and $50 as it chases an initial public offering (IPO) that could value it at up to $90bn (£69.8bn), the ride-hailing firm revealed in an updated filing today. The technology transport giant will offer 180m shares in its stock market debut as it chases the valuation, with another [...]
P&O Ferries sues government over £33m Eurotunnel settlement after no-deal Brexit ferries fiasco April 26, 2019 Ferry operator P&O is suing the UK government following the heavily-criticised decision to hand a no-deal Brexit ferries contract to a firm with no boats. Read more: Government ferry contracts to cost millions more if Brexit is delayed The Department for Transport has already been forced to pay Eurotunnel £33m in a settlement after its [...]
Crossrail sets opening date between October 2020 and March 2021 April 25, 2019 Crossrail will open to passengers between October 2020 and March 2021, about two years later than originally planned, its board revealed today. Read more: TfL boss Mike Brown says he will not stand down over Crossrail criticism The central section of Crossrail – which will be known as the Elizabeth line – will open between Paddington and Abbey [...]
Dubai port owner DP World holds steady as home market shrinks April 25, 2019 The owner of P&O Ferries said its global portfolio shipped 17.5m twenty-foot containers in the first quarter of the year, broadly flat from the year before. Gross container volumes declined 0.6 per cent year-on-year on a reported basis, Dubai-based DP World said today. Read more: Ports owner DP World increases revenue growth amid global expansion [...]
Trade tariffs and waning demand slam the brakes on Volvo quarterly profit April 25, 2019 Volvo parent company Geely’s shares fell today after the Swedish car maker announced profit fell nearly a fifth in the first three months of the year. Read more: Volvo recalls over 200,000 cars worldwide over leaky fuel pipes The manufacturer said pricing pressure and higher tariffs stemming from the trade war between the US and [...]
TfL boss Mike Brown says he will not stand down following calls to quit over Crossrail April 25, 2019 TfL boss Mike Brown has said he will not resign following criticism he "downplayed" the risks to the Crossrail opening date to London mayor Sadiq Khan. Appearing before the London Assembly's transport committee this morning, the TfL commissioner rejected suggestions he should resign. "No, I'm not reflecting on whether I'm fit to be in position," he said. [...]