Interserve shares plunge to lowest level in more than 30 years November 12, 2018 Shares in troubled outsourcing firm Interserve plummeted more than 10 per cent today to the lowest level in more than 30 years. The price dropped from 45.18p to a low of 39.03p today, as the construction and support services giant continued to struggle despite agreeing a rescue deal with lenders in March. The company's finances were [...]
NFL boost: North American passengers drive touchdowns at Heathrow as airplanes fill up November 12, 2018 Nearly 150,000 more passengers travelled to and from North America through Heathrow in October, as American football teams hit the capital. The number of North American travellers increased 9.1 per cent, making up half of the over 300,000 more people who came through the airport's gate last month. As the NFL came to London, organisers [...]
Thousands of hybrid cars subsidised by the government’s plug-in grant may never have been charged November 10, 2018 New data has revealed that tens of thousands of hybrid cars bought with government grants over the past seven years may have burned as much fuel as regular petrol engines. The plug-in hybrids (PHEVs) were available to be bought at a discounted rate due to a government incentive introduced in 2011, which gave buyers up to [...]
Former Tesla employee embezzled $9m, prosecutors say November 10, 2018 A former worker at Tesla has been indicted in the US for allegedly embezzling $9.3m (£7.2m) from the car manufacturer. Prosecutors say that Salil Parulekar diverted money owed by one Tesla supplier to another in 2016 and 2017, using forged documents. The indictment alleges that the former employee at the company’s global supply management group [...]
Ryanair plane released by French authorities after airline pays £457,000 bill November 10, 2018 The French civil aviation authority have released a Ryanair plane after the Irish airline paid up the €525,000 (£457,000) bill that was owed. A Boeing 737 was seized at Bordeaux airport on Thursday, with the flight due to carry 149 passengers to Stansted that afternoon. The row was over money the airline received as aid related to its [...]
Ryanair plane seized at Bordeaux airport by French civil aviation authority in row over cash November 9, 2018 French authorities have seized a Ryanair plane at Bordeaux airport in a dispute over money they say the Irish airline owes. The civil aviation authority grounded the Boeing 737 on Thursday, with the flight due to carry 149 passengers to Stansted. The row involves money the airline received as aid related to its activities at the regional airport [...]
It’s make or break for the telecoms sector’s shot at reform November 8, 2018 One of the great ironies of the telecoms industry is that, for a sector that is primarily focused on technological innovation and future infrastructure, certain aspects of it are decidedly backwards looking. There’s a clear divide between, say, the gathering momentum in the roll-out of ultrafast broadband and the distinct stasis when it comes to the [...]
Brexit uncertainty boosts Wincanton profits November 8, 2018 Logistics firm Wincanton reported strong results for the six months to the end of September as British companies scramble to prepare for a no-deal Brexit. The figures Wincanton’s revenue was up a marginal 0.1 per cent to £581.8m. Profit before tax rose 48 per cent to £30.1m. Cash flow was up to £33.5m from [...]
National Grid profits take a battering from stormy weather as UK restructure rolls on November 8, 2018 Utilities provider National Grid reported a six per cent fall in profits for the six months to 30 September today, partially attributed to storm-related costs and the cancellation of a new pipeline in Avonmouth. Underlying operating profit was £1.3bn, down £83m from the same period last year and of which £4m was attributed to foreign exchange [...]
Bombardier to cull 5,000 jobs and sell off $900m in assets November 8, 2018 Bombardier outlined plans to axe 5,000 jobs from its global operations and sell off $900m (£687m) in non-core assets today, sending its share price crashing down by 15 per cent. The Canadian plane and train manufacturer has launched a company-wide restructure focused on streamlining production and slashing costs as it flattens management structures. Around 5,000 jobs will [...]