Carlos Ghosn re-arrested as former Nissan chair accused of dumping £13.1m in losses December 21, 2018 Ex-Nissan chairman Carlos Ghosn has been re-arrested by Japanese authorities today, as fresh allegations surfaced of the executive dumping ¥1.85bn (£13.1m) in losses on his former firm. Prosecutors have accused Ghosn of offloading a personal investment worth £13.1m in appraisal losses to Nissan in 2008. Additionally, he allegedly further inflicted damage on Nissan by having it deposit [...]
UK car production slumps 20 per cent in biggest decline since 2009 recession December 21, 2018 Britain's car output tumbled by almost 20 per cent in November as Brexit worries weighed on consumer and business morale. It is the biggest decline in car production that the UK has seen since the last recession in 2009, with November's output heavily down on the same period last year. The number of cars produced in Britain [...]
Gatwick Airport reopens after drones cause Christmas travel chaos December 21, 2018 Gatwick Airport has reopened this morning, after an investigation into reports of drones flying near the airfield caused it to shut down for more than 36 hours. Hundreds of thousands of passengers attempting to travel for Christmas were affected by the disruption, the airport's largest since a volcanic ash cloud in 2010. As of 7am [...]
The best Christmas gift for rail users would be more competition and scrapping HS2 December 21, 2018 This week is set to be one of the busiest of the year for domestic travel. So, as London’s train stations are swamped with those endeavouring to get away for the their holidays, it’s worth dwelling on what would be the best Christmas present for travellers: a properly functioning rail system. Amid the whirlwind of [...]
Grounded: Gatwick airport remains shut down as Army brought in to deal with drone crisis December 20, 2018 The Army has been deployed to assist with the ongoing crisis at Gatwick airport, which has seen flights grounded since Wednesday because of drones flying near the runway. Drones which have grounded all flights at Gatwick Airport are “highly targeted” and have been “designed to close the airport and bring maximum disruption in the run up [...]
Travel chaos averted as rail union suspends Christmas strike action on Central and Bakerloo lines December 20, 2018 The rail union has suspended its planned action on the Central and Bakerloo lines that was set to wreak havoc over the Christmas period. The Central Line strike was due to take place from 9pm tomorrow and last until Saturday at midnight, when the the line would reopen for the night service. Drivers on the Waterloo [...]
Gatwick Airport in total shutdown as drones investigation hits Christmas travellers December 20, 2018 Passengers flying from Gatwick Airport have been told not to travel to the airport today, with all incoming and outgoing flights currently suspended. At least 20,000 passengers have already been affected, with hundreds of thousands of journeys likely to be disrupted in the coming days. Gatwick's operations chief Chris Woodroofe said those travelling home for Christmas will [...]
Stagecoach to sell off struggling US division for $271m after heavy losses December 20, 2018 Stagecoach has agreed to sell its struggling US division to a private equity firm for $271m (£214m) to focus on its UK bus and rail operations. The firm, which runs Megabus, has operated bus and coach services in North America for 20 years but the company reported a pre-tax loss of £22.6m in the six months [...]
Tokyo court rejects request to extend former Nissan chair’s detention December 20, 2018 A Tokyo court has decided not to allow an extension on the detention of former Nissan chair Carlos Ghosn, meaning he may soon be released from prison. The Tokyo District Court said in a statement early this morning that it has also ruled against an extension for former Nissan executive Greg Kelly, who was arrested [...]
Flights to continue between UK and EU for 12 months in event of no-deal Brexit December 19, 2018 The EU has said flights from the UK into and over the EU would be allowed for 12 months to enable "basic connectivity" if the UK leaves the bloc without a deal. Following the government's announcement yesterday that it was ramping up its preparations for leaving the EU without a deal, the EU has issued [...]