Volvo recalls over 200,000 cars worldwide as it discovers fuel pipes leaking into engines January 22, 2019 Volvo has recalled over 200,000 diesel cars over fears that fuel could leak into the engine, the company confirmed today. The recall, which affects 30,777 vehicles in the UK and 219,420 worldwide, comes after engineers found cracks in the fuel lines of several cars. In the company’s native Sweden it is recalling 37,000 cars, local [...]
Gatwick drone chaos costs Easyjet £15m but shares rise as profits stay the course January 22, 2019 Drone disruption at Gatwick cost Easyjet £15m, the airline revealed today, as it said that 82,000 passengers were affected by the incident, but shares rose as profits stayed the course. Easyjet was forced to spend £10m in customer welfare costs and lost £5m in revenue, it confirmed in a trading update this morning, as it [...]
Electrifying: Toyota and Panasonic to launch a joint venture for making electric car batteries January 22, 2019 Toyota and Panasonic will launch a joint venture next year to make electric vehicle batteries, bringing together the two firms in a push on innovation. The joint venture will be majority-owned by Toyota with a 51 per cent stake, while Panasonic will take up the remainder, the firms said in a joint statement this morning. [...]
Tomtom moves focus to driverless technology as it sells telematics unit for €910m January 22, 2019 Satnav maker Tomtom will sell its telematics business unit to multinational Bridgestone as it looks to move more focus towards develop driverless car technologies. The €910m (£801m) deal sees the Japanese tyre and rubber company take over a business which helps firms track their fleets and manage efficiency. Read more: Jaguar Land Rover and Addison Lee [...]
Ghosn to stay in jail after Tokyo court rejects bail application from ousted Nissan chairman January 22, 2019 Ousted Nissan chairman Carlos Ghosn’s bid to be released from prison came crashing down this morning when his bail application was rejected by a court in Tokyo. The request included an offer to wear an ankle bracelet, hire guards to monitor Ghosn and posting Nissan stocks as collateral, a spokesperson for the accused businessman said. [...]
Tube delays: Severe delays hit Piccadilly Line commuters for second time in a week January 22, 2019 Severe delays have hit the Piccadilly Line this morning as commuters make their way to work. Eastbound travel is suffering severe delays after a signal fault at Hammersmith, with minor delays affecting westbound journeys. Read more: 'Systemic failures' to blame for May's timetable chaos Transport for London (TfL) advised that tickets are being accepted on [...]
Airline stocks enjoy share price bump following positive forecast for 2019 January 21, 2019 Several airline stocks have enjoyed share price bumps today following a positive note on European airlines by Davy Research. Air France-KLM, Norwegian and Thomas Cook were among the airlines that enjoyed spikes in their share price, with the Franco-Dutch carrier enjoying a near 5 per cent rise. Norwegian's share price increased by 3.52 per cent [...]
Thomas Cook and Fosun International join forces to open two new hotels in China January 21, 2019 Travel operator Thomas Cook is to build two new hotels in China as part of its joint venture with investment company Fosun international, including the first Asian branch of its Casa Cook brand. Thomas Cook chief executive Peter Fankhauser and Fosun International head Jim Qian recently signed memorandums of understanding for the development of a Casa [...]
London commuters spend £153 a week shopping – here’s what they spend it on January 21, 2019 Commuter spending sprees contribute £22.8bn to the UK economy every year, with London commuters splashing out almost twice the national average, according to new data. Commuters in the capital fork out on average £153 a week while on the move, nearly double the UK average of £89, research by the Centre for Business and Economics [...]
Full speed ahead for motor insurers on the legal road to self-driving cars January 21, 2019 In the last twelve months alone, the government has spoken loudly about the direction in which it wants advances in self-driving cars to go. And yet, though these developments are certainly innovative, and exciting, speed bumps remain – especially for the motor insurance industry – on the road to autonomous vehicles becoming an everyday reality. [...]