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. [...]
The worst may still be yet to come for Boeing, after it takes a $1bn revenue hit from 737 Max disasters April 25, 2019 Describing Boeing’s past two months as “turbulent” is both a cliche and an understatement. It's found itself at the centre of not one but two aerospace disasters and its mighty brand now risks becoming synonymous with aviation risk. This is intensely dangerous territory for the world's largest commercial aircraft manufacturer. Worse still, as Boeing's boss [...]
Norwegian Air earnings hit by Boeing 737 Max troubles April 25, 2019 The grounding of Boeing’s 737 Max jets will cost Norwegian 500 million Norwegian crowns (£45m), the airline said today. The budget airline said the uncertainty around the fate of the jets could hurt its plans to return to profitability as it posted a new loss of 1.4bn Norwegian crowns. Norwegian has been forced to lease [...]
Act on carbon capture or face hefty bill, MPs urge government April 25, 2019 MPa have today hit out at the government’s “vague and ambiguous targets” on carbon capture, and urged it to seize on its benefits. Carbon capture usage and storage (CCUS) is needed to hit the UK’s climate change targets, the Business, Energy and Industrial Strategy Committee said in a report published this morning. Read more: Dutch [...]
Boeing profits tumble as plane maker works to get grounded 737 Max fleet back in the air April 24, 2019 Boeing has revealed the extent of the financial damage from grounding its flagship plane model across the globe as at least $1bn so far. The world’s biggest plane maker said this afternoon it had suspended its 2019 forecasts as it scrambles to get the 737 Max model back in the air after two deadly crashes [...]
On the map: Now Google Maps displays real-time electric car charging points April 24, 2019 Electric car drivers will today find it easier to find charging points for their vehicles as Google included real-time data on the sites across the UK and US. Drivers will be able to search for “ev [electric vehicle] charging stations” to see how many ports are currently available at each site, and other details such as [...]
With Crossrail at a standstill, what other London transport projects have been put on hold? April 24, 2019 Last year was a particularly trying year for transport. The botched May timetable change caused widespread disruption across the country, prompting infuriated passengers to lodge 1m claims against train operator Govia Thameslink alone. While the headline that sticks in the memory is the delayed opening of the £17.6bn Elizabeth Line, there are a number of projects [...]
Life after Ghosn: Nissan slashes profit forecast in the wake of former chairman’s rearrest April 24, 2019 Nissan continued adjusting to business without ousted chairman Carlos Ghosn with a profit warning early this morning, as the car maker’s shares fell four per cent overnight on the Tokyo stock exchange. Read more: Nissan and Mitsubishi executives step down in wake of Ghosn scandal The Japanese manufacturer said it expected net profit for the year [...]
DEBATE: Is Sadiq Khan ultimately responsible for the ongoing delays to Crossrail? April 24, 2019 Is Sadiq Khan ultimately responsible for the ongoing delays to Crossrail Keith Prince, GLA Conservatives’ transport spokesman, says YES. Londoners are all too familiar with this mayor’s penchant for passing the buck and blaming others for his mistakes. But when it comes to the Crossrail project, Sadiq Khan’s attempt to dodge accountability simply won’t wash. [...]