Thomas Cook shares take off on reports of takeover talks April 23, 2019 Shares in Thomas Cook jumped as much as 17 per cent this morning on reports it has held preliminary takeover talks with a string of potential suitors. Read more: Thomas Cook holds preliminary talks with suitors about potential takeover The sharp uplift in share price came after it emerged the firm has received enquiries from [...]
TfL chief faces calls to resign for ‘downplaying’ Crossrail pressures April 23, 2019 Transport for London (TfL) chief Mike Brown is facing calls to resign over allegations he downplayed the pressures facing Crossrail as it became clear the project would struggle to open on time. Email extracts cited in the London Assembly’s second report into Crossrail, which is jointly sponsored by TfL and the Department for Transport, show Brown, [...]
Prosecutors hit former Renault and Nissan boss Carlos Ghosn with fourth charge April 22, 2019 Former Renault and Nissan boss Carlos Ghosn was today hit with a fourth charge by Japanese prosecutors who accused him of aggravated breach of trust. Ghosn’s lawyers immediately met the charge with a bail request which came on the day his latest period of detention was set to expire. “We are confident that we have [...]
Tesla investigating social media video of one of its cars catching fire in Shanghai April 22, 2019 Electric car marker Tesla has said it is investigating a video that is circulating on Chinese social media which appears to show one of its most popular vehicles catching fire. The video shows a stationary Tesla car, identified as the Model S, erupting into flames while in a car park in Shanghai on Sunday evening. Tesla [...]
HS2 ‘ignored concerns’ about winning bidder for £1.3bn Old Oak Common contract April 21, 2019 HS2 ignored warnings about a contractor’s ability to build a key station before awarding it the £1.3bn tender, according to a High Court claim. HS2 acknowledged a joint venture between Balfour Beatty and Vinci was “severely under-resourced [and] a real risk to the safe and timely completion and handover” of the crucial Old Oak Common station [...]
Edinburgh Airport owner eyes £2bn sale as aviation infrastructure values soar April 21, 2019 Edinburgh Airport could be sold this year for as much as £2bn as its private equity owner looks to cash in on skyrocketing aviation infrastructure valuations. Global Infrastructure Partners (GIP), the airport’s largest shareholder, is eyeing the hefty price tag amid plans to sell its majority stake, the Sunday Telegraph reported, citing City sources. Read [...]
Stagecoach wants inquiry after rail bid document was leaked to rival April 20, 2019 Stagecoach has called for a review of the way rail franchises are awarded after it emerged that a rival had seen the details of its bid. The transport company claimed that the department for transport (DfT) failed to investigate the incident properly, although the DfT deny that any information rival Abellio saw would have influenced the bid. Read [...]
Four Tesla directors to leave company in board streamlining April 20, 2019 Tesla has announced that four of the eleven members on its board will be leaving the company over the next two years in a move to increase efficiency. In a regulatory filing, the company said that Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice would not be standing for re-election in the annual meetings [...]
Thomas Cook holds preliminary talks with suitors about potential takeover April 20, 2019 Thomas Cook has sparked the interest of a number of potential bidders as the company's lenders prepare to discuss its financial state. Several parties have made enquiries about taking over the company's tour operating business, or the entire company, according to Sky News. Read more: Uber's self-driving unit raises $1bn ahead of IPO Currently talks are at [...]
Uber’s self-driving unit raises $1bn ahead of IPO April 19, 2019 Uber’s self-driving unit has raised $1bn from a consortium of investors including Softbank Group ahead of the ride hailing app’s initial public offering. Uber said that the investment values its Advanced Technologies Group, which is working to develop autonomous vehicle technology, at $7.25bn. Read more: Uber IPO: Six things you need to know Softbank will invest [...]