Fund manager Neil Woodford leads push to oust top Kier Group executives January 13, 2019 Leading fund manager Neil Woodford is leading a push to unseat construction group Kier’s top executive team after its botched rights issue, according to reports. Woodford Investment Management, which owns a 16 per cent stake in Kier, is leading a push to replace chief executive Haydn Mursell and finance director Bev Dew, Sky News reported [...]
Elon Musk company SpaceX to cut 10 per cent of staff January 12, 2019 Elon Musk’s company SpaceX will cut around 10 per cent of its 6,000 staff, it revealed on Friday. The company announced it would be parting ways with around 600 people due to the “extraordinarily difficult challenges ahead”. “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, [...]
Former Stobart CEO buys share in Flybe ahead of proposed takeover January 12, 2019 The former chief executive of Stobart has bought a 10 per cent stake in British airline Flybe, just as it was announced that a consortium made up of Stobart and led by Virgin Atlantic was set to purchase the struggling airline. Stobart's former CEO, Andrew Tinkler, bought the share in the company on Friday, according to [...]
Ford plans to cut 1,000 jobs at Welsh factory January 12, 2019 Car manufacturer Ford is planning to cut 370 jobs at an engine plant in south Wales in the first phase of redundancies that will see up to 1,000 members of staff lose their jobs. It comes as Ford looks to revise its European operations having announced plans this week to cut structural costs and let [...]
Nissan US boss Jose Munoz resigns amid financial misconduct investigation January 12, 2019 A senior Nissan executive has resigned just a day after it emerged he is being investigated in relation to the financial misconduct scandal surrounding Carlos Ghosn. Chief performance officer Jose Munoz wrote in a LinkedIn post last night that he is stepping down from the car manufacturer with immediate effect. Yesterday it emerged Munoz, who [...]
Nissan expands Ghosn investigation to US executive and foreign deals January 11, 2019 Nissan has widened its investigation into disgraced chairman Carlos Ghosn to include another senior executive and deals made by Ghosn across the globe. The car manufacturer has launched a probe into chief performance officer Jose Munoz, Reuters reported, citing sources close to the investigation. Munoz, who was head of Nissan’s North American operations between 2014 [...]
Economy Energy customers moved to Ovo days after ninth bankruptcy in a year January 11, 2019 The 235,000 customers who were left in limbo earlier this week when supplier Economy Energy went bust have found a new home with Ovo Energy. The new supplier will offer all customers a “competitive tariff” while promising to pay back those who were owed credit by Economy Energy, Ofgem said. The regulator was forced to [...]
Wet wipes get a ‘fine to flush’ symbol to avoid another fatberg January 11, 2019 Wet wipes are to get a “fine to flush” symbol to help people identify what can’t go into Britain’s sewers and aid in the fight against so-called fatbergs. Manufacturers of wet wipes will be able to feature the symbol on their packaging once their products pass “strict scientific tests”. Read more: New fatberg discovered – and it's right [...]
Heathrow breaks through 80m passenger mark as it plans for expansion January 11, 2019 A record-breaking 80m passengers travelled through Heathrow last year as the airport reaped the rewards of larger planes and an increase in bookings. Heathrow saw its passenger numbers rise 2.7 per cent in 2018 on the year before, becoming one of only seven airports in the world to surpass the 80m mark. December was a [...]
Volkswagen deliveries fall year-on-year in December January 11, 2019 Volkswagen deliveries fell by 9 per cent year-on-year in December, the car maker revealed today. Worldwide deliveries to customers shrunk to 540,600 cars from 594,200 in December 2017. However, overall deliveries were up by 0.2 per cent to 6.24m last year – hitting a new record – the group said. The ongoing trade war with the [...]