AA wins multi-million-pound contract to service VW cars December 18, 2018 The AA today secured a two-year extension to its contract with Volkswagen in a deal worth tens of millions of pounds. The breakdown cover provider will continue to cover all new vehicles in the Volkswagen group, which includes Audi, Seat and Skoda, the company said today. The two companies have worked together since 2014, and [...]
South Korea announces $3bn support package for embattled car part companies December 18, 2018 The South Korean energy ministry has unveiled a raft of measures designed to support the country's strained car parts industry, including a liquidity injection and improved subsidies for electric cars. The announcement follows the closure of a General Motors’ South Korean subsidiary factory earlier this year and a downturn in profits at Seoul-based car manufacturer Hyundai [...]
Wizz Air to overtake Easyjet as Luton Airport’s largest airline with arrival of new routes from next summer December 17, 2018 Ultra low-cost carrier Wizz Air has said it will overtake Easyjet as Luton airport's largest carrier once six new routes come into force from next summer. Wizz Air UK, a subsidiary set up as a Brexit contingency plan, will bring in two new Airbus A321CEO aircraft from next summer, along with six new routes. The announcement [...]
Don’t spend a penny: Network Rail to scrap all toilet charges from April next year December 17, 2018 Network Rail is to scrap toilet charges at all of its stations from 1 April. In March the former chief executive of Network Rail, Mark Carne, pledged to scrap the charge at all of its stations from 2019, saying it was "quite wrong to penalise people when they are in discomfort". Currently charges at stations in London, [...]
Uber to hire team for Jump electric bikes launch in the UK December 17, 2018 Ride-hailing giant Uber is exploring plans to launch operations of its electric bicycle arm in the UK, entering an already-crowded space from the likes of Chinese startups Ofo and Mobike. Uber bought electric bike startup Jump in April, and has since been trialling the use of its bikes in the US and Germany. It is now [...]
Thomas Cook boss Peter Fankhauser spends £50,000 on company shares December 17, 2018 Thomas Cook boss Peter Fankhauser has spent £50,000 on company shares as the tour operator continues to struggle with declines in its share price. Shares were down nearly five per cent at the time of writing, following a set of disclosures to the London Stock Exchange (LSE). Fankhauser paid 29p per share, higher than the current [...]
Investor stumps up cash to save record-chasing Bloodhound car project December 17, 2018 The project to break the land speed world record which was placed in administration has been rescued by a Yorkshire-based entrepreneur for an undisclosed sum. Ian Warhurst has purchased the business and assets, allowing Project Bloodhound, which aims to reach 1,000 miles per hour in a land vehicle, to continue. The Bloodhound Programme, which is behind the [...]
Nissan boss tells Renault to heed its warnings over Ghosn misconduct charges December 17, 2018 Nissan’s chief executive today called on Renault board members to listen to its reasons for sacking former chairman Carlos Ghosn. Renault said last week it would keep Carlos Ghosn, who is in detention in Tokyo on charges of financial misconduct, as its chairman and chief executive. But Nissan boss Hiroto Saikawa said the Renault board [...]
Exclusive: Aberdeen Standard backs controversial £1bn bid for Crossrail fleet December 17, 2018 Aberdeen Standard Investments (ASI) is backing a controversial £971m bid to acquire a fleet of 70 Elizabeth Line trains from Transport for London (TfL), City A.M. can reveal. The asset management giant is stumping up £147m in equity investment to Rock Rail, a rolling stock infrastructure company that finances new trains, with funding proposed from [...]
The age of the electric car? Not before we talk about metals December 17, 2018 SINCE exuberance for electric vehicles (EVs) started to gain traction in recent years, there has been no shortage of bullish forecasts predicting that the end of the internal combustion engine is nigh. In other words, cars as we know them are on their way out. Governments are setting ever more aggressive targets on reducing – [...]