Ghosn’s new lawyer sets fresh strategy as he aims to cut bail deal for former Nissan CEO March 4, 2019 Carlos Ghosn’s new lawyer struck an optimistic note today, saying that the ousted former Nissan boss could soon win bail from custody in Japan following two previous failed requests. Junichiro Hironaka, dubbed “the Razor” due to his mental sharpness, told a news conference: “I believe it’s possible he could be released in the near future,” Reuters reported. Read [...]
Budget airlines Ryanair and Wizz Air report soaring passenger numbers in February March 4, 2019 Budget airlines Ryanair and Wizz Air reported boosted traffic year-on-year in February, however both carriers saw passenger numbers drop on the previous month. A total of 9.3m customers flew with Ryanair in February, an increase of 13 per cent from 8.6m the previous year. Read more: Wizz Air profits tumble but airline clings to guidance [...]
Looking for space for homes in the capital? Build over rail lines March 4, 2019 A new survey of housebuilders published last week by construction consulting and design agency McBains is depressing reading for Londoners looking to get a foot on the housing ladder. Although two thirds of housebuilders in London reported that they had built more homes over the last 12 months, those that stated a decrease cited a [...]
Carmaker Porsche facing German tax investigation March 3, 2019 Luxury carmaker Porsche is facing an investigation over alleged tax debts. The sportscar manufacturer said on Sunday that it was cooperating with German prosecutors in relation to its tax treatment treatment of employees taking early retirement and benefits given to former executives. The benefits are reported to include parties, private plane trips and chauffeur services. [...]
UK ports propose 10-point plan to boost investment and trade March 3, 2019 A new 10-point plan to be revealed today will set out proposals aimed at boosting investment in the UK’s ports. The importance of the UK’s ports for business supply chains has been thrown into the spotlight by the potential for disruption in the event of a no-deal Brexit. Read more: Government to pay Eurotunnel £33m over [...]
Drop rail franchise system for head-to-head competition to slash fares, says Adam Smith Institute March 3, 2019 Rail fares for British passengers could be slashed if the franchise system was dropped in favour of head-to-head competition, a leading thinktank has argued. The free market thinktank the Adam Smith Institute (ASI) said an “open access” system, which would allow different train companies to compete on the same route, would drive down fares and operating [...]
HS2 hit with legal claim from American engineering giant Bechtel over Old Oak Common contract March 3, 2019 HS2 has been hit with a legal claim by American engineering giant Bechtel after it failed to secure a £1bn contract to build Old Oak Common station. Last year Bechtel signed a £170m contract to deliver phase 2b of the railway, which will stretch from Crewe to Manchester, and the West Midlands to Leeds. The [...]
Jaguar Land Rover could announce fresh round of UK investment in early March despite industry turmoil March 2, 2019 Jaguar Land Rover is reportedly planning to buck the trend of car makers fleeing the UK by making a major investment in British advanced manufacturing. The manufacturer, which is owned by Indian firm Tata, reportedly said fresh investment in the UK was imminent, and an announcement could come in early March. Read more: Tata Motors’ [...]
Lyft files for IPO ahead of rival Uber in listing that could value it at $25bn March 1, 2019 Ride-hailing company Lyft filed its initial public offering (IPO) registration today ahead of rival Uber in the race to hit the public markets. Lyft filed with an initial offering size of $100m (£75.62m), which is usually just a placeholder amount used to calculate fees that could change. The company did not disclose the price it plans to list at [...]
Tesla shares drop as Elon Musk outlines plan to close stores and move sales online in bid to cut car prices March 1, 2019 Tesla is set to close most of its physical locations as it shifts worldwide sales online, it said today, sending shares down almost eight per cent to 295p. Read more: Regulator accuses Elon Musk of misleading investors with new Tesla tweet The stores will not close immediately but are expected to “wind down” over the [...]