Victoria line trains to Brixton suspended as severe delays plague Tube lines February 13, 2019 Commuters were facing rush hour hell this morning after a key Tube line was part suspended and three were hit by severe delays Read more: King's Cross signal failure hits key Tube lines with severe delays The Victoria line was not running to Brixton this morning after engineers were called to fix a signal failure [...]
General Motors takes stake in British car tracking startup as it looks to driverless future February 12, 2019 US car giant General Motors (GM) is taking a stake in a British technology startup as it prepares for a driverless future. The deal, which values Chester-based Wejo at $275m (£213m), includes a $25m cash injection into the connected cars firm. Read more: General Motors cuts costs with 8,000 redundancies It also gives Wejo access [...]
Chris Grayling accused of ‘misleading’ parliament over money spent on ferry contracts February 12, 2019 Embattled transport secretary Chris Grayling faced another round of calls to resign yesterday over accusations he may have misled parliament in saying no taxpayer money was spent on the government's Brexit ferry contracts. Shadow transport secretary Andy McDonald today issued a point of order in the House of Commons over Grayling's statement that "we are [...]
Sadiq Khan announces shakeup of severance pay for departing TfL staff February 12, 2019 Sadiq Khan has announced a shakeup of Transport for London (TfL) pay agreements after £51m was paid out to departing staff last year. City Hall has said it will reduce notice periods, in which those made redundant can claim pay, from 12 months to six months for future managing directors and from six months to three [...]
Renault and Nissan executives to meet as Ghosn scandal shakes car manufacturer alliance February 12, 2019 Executives from car manufacturers Nissan and Renault will meet to discuss the future of their alliance amid the scandal surrounding former chairman Carlos Ghosn, the Japanese firm has said. Renault’s newly-appointed chairman, Jean-Dominique Senard, will meet Nissan chief executive Hiroto Saikawa in Yokohama this week in a bid to secure the ties between the two [...]
Channel Tunnel operators threaten legal action over Brexit ferry contracts February 12, 2019 The government is facing legal action from the operators of the Channel Tunnel over the way it awarded its ferry contracts, just days after one that was given to a firm with no ships collapsed. Eurotunnel and France-Manche SA, also owned by parent organisation Getlink, are taking the Department for Transport (DfT) to court over [...]
Michelin shares driven up as positive profit forecasts defy cost increases February 12, 2019 Shares in Michelin jumped by double digits this morning after the French firm promised to deliver increased profits in 2019. Michelin’s share price rose more than 10 per cent in early trading after the tyre maker posted better-than-expected full-year results and forecast further growth this year. Read more: Michelin chief a potential successor to Ghosn [...]
Nissan cuts profit forecast and books £65m charge on Carlos Ghosn compensation February 12, 2019 Nissan slashed its full-year profit forecast amid falling sales today as it also took a hit related to compensation for its former chairman, Carlos Ghosn, who is awaiting trial on financial misconduct charges. The Japanese car manufacturer revised its full-year profit forecast from ¥540bn down to ¥450bn (£3.2bn). Read more: No, Nissan’s move is not proof that [...]
Breakdown group AA boosts full-year profit expectations February 12, 2019 Breakdown cover group AA today raised expectations for its full-year profit after retaining or extending its key business contracts. In a trading update AA said it expects its earnings before interest, tax, depreciation and amortisation (Ebitda) would be not less than £340m, having previously said it expected profit to be in the range of £335m [...]
Thyssenkrupp profits tumble as steel division troubles and macro woes take their toll February 12, 2019 Thyssenkrupp today posted a sharp drop in first quarter profits as global economic woes and trade conflicts drove up costs. The German conglomerate said income before tax fell 33 per cent to €215m (£189m) in the three months to the end of December. Read more: Thyssenkrupp predicts higher profits after tough financial year Net sales [...]