Boeing Embraer joint venture ready for take off as leadership team named March 20, 2019 Boeing has named two executives to head up its proposed $4.2bn (£3.2bn) joint venture with Brazilian aerospace firm Embraer. John Slattery, Embraer’s current commercial aviation boss, will become chief executive of the partnership, which is still waiting for approval by Brazilian antitrust regulators. Read more: Lion Air 737 Max plane pilots 'scoured handbook' before crash [...]
TfL slashes £1bn deficit in ‘relentless’ cost-cutting drive but warns of continued economic woes March 20, 2019 Transport for London (TfL) has halved its near £1bn budget deficit thanks to an aggressive cost-cutting drive. The transport body said a "relentless focus on efficiency" and "tight financial management" will help it to get the £968m deficit – partially caused by the loss of the government grant and Sadiq Khan's fare freeze for single journeys – [...]
Toyota defies Brexit blues to produce new model at UK factory March 20, 2019 Toyota has given Britain’s car manufacturing industry a much-needed boost today, announcing it will produce a new model for Suzuki at its plant in Derbyshire. The car will be based on a Toyota Corolla model which is already built at the plant, and comes as part of a wider global partnership announced by the two [...]
Lion Air Boeing 737 Max plane pilots ‘scoured handbook’ in bid to prevent fatal crash March 20, 2019 Pilots of the doomed Boeing 737 Max 8 Lion Air flight scoured a manual to try to understand why the jet was lurching before its fatal crash last October, it is reported. Read more: Investigation into Boeing Ethiopia crash black box data begins The jet hit the Java Sea before pilots could work out what [...]
Shadow transport secretary says Labour will not hand HS2 a ‘blank cheque’ March 20, 2019 Shadow transport secretary Andy McDonald has said Labour will not grant the controversial HS2 project a "blank cheque" if it gets into office. Giving a keynote speech of Labour's transport policies at the Institute for Government, McDonald reiterated Labour's support for HS2 but said the costs of the £56bn railway would have to be watched "like [...]
Beware of these Tube terrors if you’re travelling on the London Underground March 20, 2019 Only the bravest explorers traverse the London Underground. The tunnels of the Tube have their own microclimate and ecosystem, and are inhabited by a wide array of eccentric species. Most of these specimens are placid, if not friendly, but recently I have observed a worrying trend of hostility from Undergrounders. It’s rough out there, so [...]
Brits want a human driver ready to take control in their driverless cars March 20, 2019 The majority of Brits are still sceptical about driverless cars ever being allowed to become truly “autonomous”, according to research. Just one-in-seven people think autonomous vehicles (AVs) should be able to travel without a human occupant ready to take the wheel, according to an Opinium survey. Read more: GM takes stake in British startup as [...]
BMW flashes warning lights as mounting tech costs hit manufacturer’s forecasts March 20, 2019 BMW has alerted investors to a more than 10 per cent expected loss in group pre-tax profit for 2019, as the car manufacturer announced a far-reaching €12bn (£10.3bn) savings plan. Shares fell five per cent on the news. Last week, the firm said it would move up a gear in its efforts to cut costs [...]
Kier shares fall as outsourcer swings to £35.5m loss March 20, 2019 Kier has fallen to a £35.5m loss for the second half of 2018, but said it is in a stronger position after hitting up investors for £250m in a disastrous rights issue that missed its target at the end of last year. Read more: Embattled outsourcer Kier's net debt spirals again after 'accounting error' The figures [...]
Inmarsat shares take off after private equity firms make buyout offer March 20, 2019 Shares in British satellite firm Inmarsat soared more than 16 per cent in early trading after it revealed it is in talks with two private equity firms over a buyout deal. Inmarsat last night confirmed it is in discussions with Apax Partners and Warburg Pincus, which have tabled a cash offer of $7.21 (£5.43) per [...]