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 – [...]
Early cost estimates for HS2 were wildly inaccurate says former insider December 17, 2018 A former insider at rail project HS2 has said that the early land and property cost estimate considered by MPs was “enormously wrong”. HS2’s chairman Sir Terry Morgan resigned from the project this month after cost overruns at another project he chaired, Crossrail. However, Morgan hinted that HS2 could face similar problems. Now former head [...]
Aston Martin remains in short sellers’ sights despite Soros cash-out, as stock continues to fall December 16, 2018 Aston Martin's struggling stock continues to be targeted by short sellers, with London-based Adelphi Capital raising its bet against the carmaker to £15m last week. The manufacturer behind James Bond’s vehicle of choice would have wished to slip under the radar of hedge funds after its shares crashed from an initial £19 in October to £11.49 [...]
Jaguar Land Rover prepares to axe up to 5,000 jobs in January December 16, 2018 Jaguar Land Rover is expected to cut up to 5000 jobs next year as part of its £2.5bn turnaround plan. The car manufacturer, which posted a £90m loss in the third quarter, has been hit by a lessening demand for diesel cars and costs associated with Brexit. Read more: Losses deepen as JLR embarks on [...]
Tube driver salaries break £100,000 barrier despite train automation December 16, 2018 Some London Tube drivers are now earning more than £100,000 a year, despite new technology that makes their jobs easier. Figures obtained by the Sunday Times reveal the highest-paid driver earned £103,374 in the year to November, a 69 per cent rise since 2012. The surge in pay comes despite five of the network’s 11 lines [...]
Downing Street denies reports of preparing no-deal Brexit holiday warnings December 16, 2018 Downing Street has denied reports that the government is to suggest families do not book holidays after 29 March amid preparations for a no-deal Brexit. The Sunday Times reported that the government was supposed to discuss the contingency plans at last week's cancelled cabinet meeting after May received a vote of no confidence in her [...]