Airbus could restart UK investment if parliament approves May’s Brexit deal November 28, 2018 Aerospace firms may resume investment in the UK’s industry currently put on hold if Prime Minister Theresa May’s withdrawal agreement is voted through parliament, Airbus told MPs this morning. Companies have either paused investment in the UK since the EU referendum or transferred it to other markets, executives told the Commons' Business, Energy and Industrial Strategy [...]
Former Nissan chairman Carlos Ghosn denies burdening company with personal losses November 28, 2018 Former Nissan chairman Carlos Ghosn has denied passing personal trading losses to the car manufacturer, according to his lawyer. Japanese media reported yesterday that the ousted chairman may have transferred losses of ¥1.7bn (£11.7m) from a derivatives contract to the company in 2008. While Ghosn has acknowledged he consulted Nissan about the contract, he denies [...]
UK braces itself for a battering from Storm Diana as winds approach 70mph November 28, 2018 Brits are set to endure a downpour and buffeting winds as Storm Diana hits the UK today. The Met Office issued yellow weather warnings for western part of the UK this morning, with delays expected to public transport and routes carrying large vehicles from gales of up to 70mph. Severe rainfall will affect other parts [...]
SMMT calls on MPs to back Theresa May as it issues fresh warnings against a no-deal Brexit November 28, 2018 Automotive trade body the Society of Motor Manufacturers and Traders (SMMT) has issued a plea to MPs to back Theresa May’s deal as it issues fresh warnings against the impact of a “no-deal” Brexit. A survey unveiled at its 102nd annual dinner last night revealed that three quarters of carmakers fear a no-deal Brexit will [...]
Spark Energy customers moved to a new supplier after company reaches deal with Ovo November 27, 2018 Ovo Energy has come to the rescue of 290,000 customers after its former rival Spark collapsed last week. The company will serve the customers through its own license, but keep Spark’s name and staff after acquiring the business, a spokesperson told City A.M. Customers will remain on the same tariffs they had with Spark, Ofgem, [...]
Virgin Atlantic chief executive calls on MPs to prevent ‘significant damage’ of no-deal Brexit November 27, 2018 Virgin Atlantic has called on MPs to prevent the "significant damage" caused by a no-deal Brexit. The airline's chief executive, Craig Kreeger, today wrote to the Transport Select Committee asking for its help to prevent a no-deal Brexit. He said the prospect of Britain leaving the EU without a deal would “inflict significant damage to the [...]
Black cabs block London Bridge in protest at new ULEV air quality proposals November 27, 2018 A raft of black cabs have blocked London Bridge for the second evening running in protest against proposals to impose air quality restrictions around Tooley Street. London licenced taxis are protesting against the Ultra Low Emissions Vehicle (ULEV) measures, which they claim will restrict trade and harm their business. The City of London Corporation and City Hall [...]
Shipping executives convicted in North Sea oil bribery scheme November 27, 2018 Two former executives of shipping company FH Bertling have been convicted for their part in a corrupt scheme to win a ConocoPhillips freight forwarding contract worth over £16m as part of a North Sea exploration project. The Serious Fraud Office (SFO) said today that Stephen Emler and Giuseppe Morreale had pleaded guilty to their part in [...]
Network Rail bonuses could be used to pay regulatory fines under new proposals November 27, 2018 Fines levied on Network Rail for poor performance could be funded through management bonuses, the rail regulator has suggested. The Office of Rail and Road (ORR) has opened a consultation today that will look at news ways to hold Britain's railway operator to account following a disastrous year with the botched timetable upgrade in May. [...]
Services giant Jacobs to move into new 1,000-worker London Bridge office November 27, 2018 Services giant Jacobs Engineering Group is combining its three UK premises to move into a new 80,000 sq ft office in London Bridge. The US firm, which provided infrastructure for the 2012 Olympics, has secured the Cottons Centre site for the next decade, providing offices for around 1,000 employees working on infrastructure projects. The site, [...]