Hyundai to lay off Chinese workers in wake of disappointing fourth-quarter sales January 25, 2019 South Korean car maker Hyundai has announced it is cutting jobs in China, after it reported a slump in quarterly sales in the country yesterday. “Hyundai Motor is reviewing various optimisation plans to enhance facility efficiency around the Chinese New Year holidays,” it said in a statement on Friday. Read more: Hyundai hit by first quarterly [...]
Jaguar Land Rover extends planned shutdown over Brexit concerns January 24, 2019 Jaguar Land Rover has announced plans to close its UK plants for an extra week in April due to the potential disruption caused by Brexit. The car giant’s three assembly plants, in Solihull, Halewood and Castle Bromwich, and its engine plant in Wolverhampton were all due to close from 15-23 April as part of planned [...]
Nationalise plant if you want to save nuclear plans, Hitachi chairman tells government January 24, 2019 Hitachi’s nuclear plants in the UK will only go ahead if the government nationalises them, the chairman of the Japanese giant has said. The shock statements at the World Economic Forum in Davos came just a week after Hitachi abandoned the £16bn Wylfa nuclear plant in north Wales. Read more: Government faces headache as Hitachi pulls out [...]
Bills could change more than ever under government’s energy price cap, experts warn January 24, 2019 The government’s energy price limit will cause prices to fluctuate more than ever, experts are warning as Ofgem looks set to raise the cap just months after it was first introduced. The “significant” rise is expected to reach around £80 to £100 a year industry insiders say, higher than the touted £76 per annum savings [...]
British Airways-owner International Airlines Group rules out new bid for Norwegian Air January 24, 2019 British Airways owner International Airlines Group (IAG) will not make an another offer to buy Norwegian Airl and announced it will sell its remaining stake in the company. Norwegian’s share price fell as much as 26 per cent – the lowest level since 2012 – on the news that a potential deal is off the table. [...]
Renault names new chairman and chief executive following Ghosn resignation January 24, 2019 Renault has named its new chairman and chief executive following a board meeting just hours after the resignation of Carlos Ghosn. The French car manufacturer named former Michelin head Jean-Dominique Senard as chairman and interim boss Thierry Bollore as chief executive. Read more: Carlos Ghosn resigns from Renault amid financial misconduct scandal The appointments mark a separation [...]
Apple dismisses more than 200 staff from self-driving car unit Project Titan January 24, 2019 Apple has cut more than 200 staff from its secretive self-driving car unit Project Titan, as the business undergoes some restructuring under new management. The dismissals, first reported by CNBC, come after Apple hired a former veteran of the firm Doug Field and Tesla's ex-vice president of engineering to lead the project alongside Bob Mansfield last [...]
Flybe shares tank as airline pushes on with 1p-per-share Virgin-led bid January 24, 2019 Flybe’s shares sank as much as 47 per cent this morning as investors reacted to news that the struggling airline is pressing ahead with a takeover offer that will leave them an offer worth just 1p per share. A Virgin-led consortium today provided the budget airline with the first £10m chunk of a bridging loan [...]
Uber teams up with meditation startup Calm to bring some peace to UK passengers January 24, 2019 Uber has launched a partnership with meditation startup Calm to offer in-app mindfulness exercises to passengers, in a bid to make us all slow down a little more. From today, Uber riders across the UK will be able to access a range of guided meditation and breathing exercises during a trip in one of its cars. [...]
Haynes shares soar as growing digital business boosts half-year results January 24, 2019 Publisher Haynes saw its share price jump this morning after reporting a rise in half-year revenue and profits as it looks to shift its car manuals to digital formats. The figures Haynes reported a 23 per cent rise in profit before tax to £1.6m in the 26 weeks to the end of November. Revenue jumped [...]