Renault interim boss vows to safeguard Nissan alliance after Carlos Ghosn arrest November 23, 2018 Renault's interim boss has assured shareholders he will safeguard the company's interests and its alliance with Nissan following the arrest of chairman Carlos Ghosn. The Nissan board voted to oust Ghosn on Thursday after he was arrested in Japan over financial misconduct allegations earlier in the week. But Renault has decided not to dismiss Ghosn for [...]
Embattled budget airline Flybe’s shares take off as it confirms Virgin Atlantic talks November 23, 2018 Struggling low cost airline Flybe’s shares soared 23 per cent this morning as it confirmed reports that Virgin Atlantic is in talks to buy it. Billionaire Sir Richard Branson’s airline began talks to buy the company after the Exeter-based airline put itself up for sale earlier this month, Sky News reported last night. Shares later [...]
Watchdog announces investigation into Crossrail delay November 23, 2018 The National Audit Office (NAO) is set to investigate Crossrail after it was revealed that London’s high profile transport project will be delayed by almost a year, amid rising costs. “Our investigation will examine the causes of the cost increases and schedule delays, the terms of the additional funding, and the governance and oversight of [...]
Outsourcer Interserve’s share price falls as debts pile up November 23, 2018 Embattled outsourcing company Interserve will next year aim to quickly sell off assets to reduce its debt, amid concerns raised this month about its financial situation. Shares dropped again this morning by as much as eight per cent as the group said it would dispose of non-core businesses while considering options to “bring new capital [...]
Smarting: Rollout of new energy meters behind schedule and over budget, auditor says November 23, 2018 The spending watchdog has today called on the government to take responsibility as its scheme to put a smart metre in every home is by 2020 is set to fail. The National Audit Office found that initial cost estimates have already overrun by half a billion pounds, while it warned that customers may not save [...]
Virgin Atlantic opens talks to buy struggling budget airline Flybe November 22, 2018 Virgin Atlantic has opened talks with struggling low-cost airline Flybe over a possible takeover. The airline partly owned by Sir Richard Branson has emerged as a surprise potential buyer after the Exeter-based airline put itself up for sale earlier this month, Sky News reported. Sources said Virgin Atlantic saw the move as an opportunity to feed [...]
Defence firm BAE Systems plugs £20m into augmented reality and artificial intelligence on warships November 22, 2018 Defence contractor BAE Systems has today announced a £20m investment to innovate combat systems on its warships, using augmented reality and artificial intelligence to bring its fleet up to date with the latest tech. The firm unveiled several new solutions it has been working on as part of the investment, including augmented reality glasses that would [...]
Jaguar Land Rover and Addison Lee receive £25m to trial their self-driving cars in Greenwich November 22, 2018 Jaguar Land Rover and Addison Lee are among the winners of a government-backed £25m funding pot to develop driverless cars in London by 2021, it was revealed today. A consortium of tech, vehicle and transport firms have secured a grant from the government's Connected and Autonomous Vehicles programme to introduce 15 self-driving vehicles as part of [...]
Southeastern investigates claims ‘unauthorised’ person drove high speed Javelin train out of St Pancras November 22, 2018 Southeastern is investigating five drivers after claims that a high-speed Javelin train was driven out of St Pancras International by an “unauthorised” person. The train, which is capable of speeds up to 140mph, was leaving the station for Portsmouth on a fundraiser for the Royal British Legion Poppy Appeal. The Govia-owned rail operator confirmed it has launched [...]
Water giant Seven Trent rides out long, hot summer as interim results remain steady November 22, 2018 Water companySevern Trent’s shares remained steady this morning as it published solid interim results with small profit gains and more than £300m invested in the first six months. The figures The group reported £299.1m profit for the six months to 30 September, up 4.3 per cent from the same period last year. Meanwhile, it saw [...]