Nissan dismisses chairman Carlos Ghosn following arrest in Japan November 22, 2018 Nissan’s board of directors has voted to oust its chairman Carlos Ghosn following his arrest for suspected financial crimes. Ghosn was removed as chairman and representative director after a unanimous decision in a board meeting at Nissan's headquarters in Yokohama, the company said today. Ghosn was arrested in Japan on Monday following allegations of financial misconduct, [...]
UK tech firm Aircharge launches wireless charging on London Waterloo’s South Western trains November 22, 2018 Trains on London Waterloo's South Western railway network have become the first in the world to debut wireless charging points for smartphones and tablets, helping commuters to grab that extra bit of power on their travels. Aircharge, the UK tech firm behind wireless charging points in Starbucks, Mcdonald's and Costa Coffee, has teamed up with train [...]
British Gas owner Centrica expects £70m hit from government’s energy cap November 22, 2018 Shares in British Gas owner Centrica dropped almost eight per cent this morning as it revealed a new cap on energy bills will cost £70m in the first quarter of next year. The £1,137 cap, revealed by regulator Ofgem earlier this month, is £68 lower than prices paid by 3.1m British Gas customers. It has [...]
Mitie profits fall as post-Carillion business costs mount November 22, 2018 Profits at outsourcing firm Mitie have fallen over the last six months in the wake of Carillion's collapse, despite selling off several of its divisions and reporting a rise in revenue. Its share price fell more than three per cent as markets opened this morning. The figures Revenue rose four per cent to £1.04bn in the [...]
Embattled budget airline Flybe secures further $5m as it bolster finances ahead of potential sale November 21, 2018 Embattled budget airline Flybe has raised a further $5m (£3.9m) as it continues to bolster its finances ahead of a potential sale. Flybe said it secured the funds through a German bank Norddeutsche Landesbank, secured against a Bombardier aircraft. The Exeter-based airline confirmed it was seeking a sale earlier this month after profits nosedived 54 [...]
Ofgem to help over 100,000 customers as another energy supplier goes bust November 21, 2018 Ofgem has said it will step to ensure a smooth transition for customers as yet another small energy provider went out of business today, the sixth this year. Customers of Extra Energy will be protected by the regulator’s safety net, it said. The company’s 108,000 domestic and 21,000 business customers have been told not to switch [...]
Bombardier slashes hundreds of Belfast jobs in cost cutting drive November 21, 2018 Aerospace manufacturer Bombardier is to axe 490 jobs in Belfast as it scrambles to cut costs and streamline its operations. The aerospace firm had indicated earlier this month that UK jobs may be at risk as it announced 5,000 worldwide redundancies, most of those in Canada, where it is based. Bombardier said following the announcement [...]
BMW wins licence to launch ride-hailing Uber competitor in China November 21, 2018 BMW has been awarded a licence to launch a ride-hailing firm in China in December, making it the first global car manufacturer to enter the competitive market. Operating under the name BMW Mobility Service, BMW said its licence has been granted for initial operations in Chengdu, the capital of Sichuan province. The Chinese market is [...]
Ofgem to tighten rules for new energy suppliers to protect consumers from bankruptcies November 21, 2018 Ofgem will make it more difficult for new suppliers to enter the energy market after a string of bankruptcies and complaints over poor customer service. The energy regulator has proposed rules which would force new players to show they have enough resources to operate for at least a year. Fresh suppliers will also be asked to [...]
Sadiq Khan raises ‘serious concerns’ over Crossrail’s transparency and governance in letter to spending watchdog November 21, 2018 London mayor Sadiq Khan has said he has "serious concerns" about the "transparency and effectiveness of Crossrail's governance" following the fallout from the delay to the £15.4bn project. In a letter to the National Audit Office (NAO), seen by City A.M., Khan said that while joint sponsors Transport for London (TfL) and the Department for Transport (DfT) [...]