Nissan governance board to push for separate chairman from Renault February 20, 2019 Nissan’s governance board is to oppose the company having the same chairman as Renault, the Financial Times reported today, citing sources close to the matter. Renault has been calling for its newly-appointed chairman, Jean-Dominique Senard, to take over the role at the Japanese car company, the sources said. Read more: Renault slams the brakes on [...]
South Korean prosecutors raid Hyundai offices after engine defect allegations February 20, 2019 Authorities in South Korea have raided Hyundai offices as part of an investigation into the firm’s handling of vehicle recalls over engine defects, according to local media. Prosecutors searched the firm’s quality division in southern Seoul as part of their probe into whether Hyundai and partner Kia delayed fixing defects that prompted massive recalls in [...]
Flybe shares soar 146 per cent following rescue offer from Tinkler-backed bidders February 20, 2019 Shares in ailing airline Flybe have soared 146 per cent this morning after the carrier confirmed it has received a rescue offer from Arizona-based airline Mesa Air and fund manager Bateleur Capital with the backing of former Stobart boss Andrew Tinkler. Read more: US airline Mesa tables last-minute Flybe rescue deal But Flybe said the offer [...]
‘No-fly zones’ around airport runways extended following Gatwick and Heathrow drone chaos February 20, 2019 Drones and similar model aircraft will be banned from flying within a five kilometre radius from airport runways following the havoc they wreaked at the Gatwick and Heathrow runways last year. The extended "no-fly zone" for drones and similar aircraft has been extended from one kilometre to five kilometres following recent episodes of disruption. Over [...]
US airline Mesa leads last-minute Flybe rescue offer in blow to Virgin February 19, 2019 Arizona-based airline Mesa has tabled a £65m rescue deal for struggling airline Flybe in a dramatic move that could derail a takeover bid led by Virgin Atlantic. City A.M. understands Mesa is leading a consortium of investors that offered an injection of new equity at a Flybe board meeting today in a bid to save [...]
Honda: What’s really hurting car manufacturers? February 19, 2019 Business secretary Greg Clark yesterday took a stand for Britain’s car manufacturers, saying Honda’s move to close its Swindon factory shows the urgent need to strike a Brexit deal. “Decisions like Honda’s this morning demonstrate starkly how much is at stake,” he said. “A situation in which our manufacturers do not have the certainty they [...]
‘Let us charge more for energy’, companies urge as they are forced to bail out a string of small suppliers February 19, 2019 The government must let energy suppliers charge more as they are left picking up the pieces from a string of failed rivals, two major players have said. Big Six energy firm Eon and Britain's largest challenger Ovo today called on the the competition regulator to change the way the price cap for prepayment metres works. They [...]
Nearly half of commuters think air taxis would solve transport problems in cities February 19, 2019 The public is turning more to the idea of air taxis to help alleviate congestion and air pollution on Britain's roads, new research reveals. Research carried out by aviation events organisation Revolution.Aero found that 43 per cent of those surveyed would support the introduction of air taxis to reduce transport problems in UK cities. Read more: [...]
Passenger revenue growth at First Group slows as SWR strike action takes its toll February 19, 2019 Rail passenger revenue growth at transport operator the First Group slowed to just over four per cent to September last year, even as the firm reported a near 14 per cent uplift in revenue. First, which operates rail and bus services, said the slump in like-for-like passenger growth reflected "significant infrastructure challenges which resulted in disappointing [...]
EU president Juncker says Trump ‘gave his word’ not to impose car tariffs February 18, 2019 European Commission president Jean-Claude Juncker has said he is confident US President Donald Trump will not impose higher tariffs on European car imports. “Trump gave me his word that there won't be any car tariffs for the time being. I believe him,” Juncker told local media, according to his spokesperson. Read more: EU vehicles pose [...]