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 [...]
Honda employees urge manufacturer to keep Swindon factory open March 1, 2019 Honda employees have launched a petition imploring the Japanese manufacturing giant to reverse last month’s decision to close its Swindon factory. The petition, organised by Len McCluskey’s Unite union, has so far attracted 1,539 supporters since going live on Friday morning. Read more: Honda: What's really hurting car manufacturers? “Dear Mr Hachigo, please do not [...]
Government to pay Eurotunnel £33m over no-deal Brexit ferry contract March 1, 2019 The government has agreed to pay £33m to Eurotunnel over the procurement of no deal Brexit ferry services, according to reports. Eurotunnel said the contracts to provide ferry services in the event of a no deal Brexit had been handed out in a secretive way, according to the BBC. Read more: Man found guilty of [...]
MPs launch inquiry into government energy policy after nuclear setback March 1, 2019 MPs are set to review the government’s plans for Britain’s energy sector after a string of major projects were abandoned by international companies. The Business, Energy, and Industrial Strategy Committee said it would look into the government’s plans to see if they are fit for purpose. It will examine if the country needs a new approach [...]
Rolls-Royce turbulence finally nearing an end February 28, 2019 On the the face of it, aircraft engine manufacturer Rolls-Royce looks to be stuck on the runway. Shares fell 2.5 per cent yesterday as it reported £2.9bn total losses in 2018. These were largely down to long-running mechanical problems which have grounded one of British Airways’ new Boeing 787 Dreamliner jets at Heathrow airport for [...]
National Express increases shareholder dividend by 10 per cent in ‘record’ set of results February 28, 2019 National Express shareholders were today rewarded with a 10 per cent increase in their dividend as the coach and bus firm delivered a "record" set of annual results. Pre-tax profits at the firm stood at £177.7m in 2018, up 13.6 per cent on the previous year. Revenue also increased from £2.32bn to £2.45bn, while operating [...]
Crossrail: Bond Street station work ‘could slip beyond 2019’ February 28, 2019 Completion of Crossrail's Bond Street station could slip to "late 2019 or even beyond", Transport for London (TfL) has admitted. New TfL papers reveal that none of the Crossrail stations are fully complete and that Bond Street, regarded as one of the more complex stations to fit out, would either be finished at the end of [...]
BMW and Mercedes-Benz create Share Now car-sharing alliance February 28, 2019 A car sharing service involving more than 20,000 cars made by BMW and Mercedes-Benz has been named Share Now. The free-floating car sharing service is available in nine London boroughs and comes as part of an alliance between BMW and Daimler, which owns Mercedes. The two German firms also announced on Thursday that they will [...]
British Airways owner International Airlines Group profits soar February 28, 2019 British Airway’s owner International Airlines Group’s (IAG) profit soared 9.5 per cent last year. The figures Shares lifted two per cent as the group reported that pre-tax profit for the year to the end of December was €3.2bn up from €2.95bn in 2017. Revenue was up 6.7 per cent from €22.8bn in 2017 to €24,4bn last [...]
Airbus and Softbank-backed Oneweb to launch first satellites into space February 27, 2019 An Arianespace rocket carrying six satellites made by Airbus and Oneweb is scheduled for lift-off tonight, marking the joint venture's first launch since they teamed up last year. The launch is set to go ahead at 9:37pm GMT from the European Space Port in Kourou, French Guiana. It was initially scheduled for the same time last [...]