Tesla share price gets into gear after company shows profit in third quarter October 25, 2018 Shares in Tesla have shot up 7.5 per cent today after the company moved into the black in its third quarter results. The carmaker last night said it had turned a $619m (£241m) loss into a profit of $311m in the last three months. Revenue reached $6.82bn, smashing estimates from Refinitiv of $6.33bn. The results will [...]
British Airways reveals a further 185,000 users affected in fresh data hack October 25, 2018 British Airways owner International Airlines Group today said an investigation into September's data breach has revealed a further 185,000 users had been affected in an earlier hack on its website. An internal investigation uncovered a second hack which showed the financial details of another 77,000 payment cards were potentially compromised, including their card number, expiry date [...]
Tesla’s new Model 3 to hit British roads in the middle of next year, Elon Musk says October 25, 2018 Tesla will bring its new lower-cost, mid-range Model 3 car to the UK in mid-2019, chief executive Elon Musk said this morning. The car, which was launched last week, will also reach Australia at around the same time, Musk said on Twitter. Around mid 2019 — Elon Musk (@elonmusk) October 25, 2018 Same — Elon Musk [...]
Jaguar Land Rover to make 100,000 cars in new Slovakia plant within two years October 25, 2018 Carmaker Jaguar Land Rover will be producing 100,000 cars a year in its new Slovakia plant by 2020, factory boss Alexander Wortberg said at the opening today. The €1.4bn plant (£1.2bn) is taking over production of the company’s Discovery model and has the capacity to make 150,000 vehicles annually. Read more: Jaguar Land Rover to shut Solihull [...]
Daimler profits fall in “very challenging environment” for automotive industry October 25, 2018 German car maker Daimler reported that profits and revenue dropped sharply in the third quarter due to the “challenging environment” facing the automotive industry. The Mercedes-Benz owner reported a net profit of €1.8bn (€1.59bn) in the third quarter of the year, down from €2.2bn in the same period in 2017. Its earnings before interest and [...]
Go for growth and pursue the untapped potential of Crossrail October 25, 2018 You may have watched Stanley Kubrick’s 1987 film Full Metal Jacket, but it’s unlikely that you realised that much of the depiction of war-torn Vietnam was actually filmed on location in south east England. Beckton gasworks, less than a mile from London City Airport, was used as the set for the Vietnamese city of Hue, [...]
Flying high: Boeing sets sights on record-breaking year October 24, 2018 Shares in Boeing rose today as the company said it was on track to deliver a record year of plane sales. It also revised its full-year core earnings forecast to between $14.90 and $15.10 per share, a four per cent increase. Read more: Boeing braced for tariff rises as US-China trade war continues Revenues rose [...]
Hit the brakes: Watchdog bans adverts by Ford, Nissan and Fiat October 24, 2018 Ford, Nissan and Fiat have all had adverts banned today after the Advertising Standards Authority (ASA) ruled that the three car manufacturers had run adverts that promoted dangerous driving. Ford was criticised for a cinema and online advert that featured quotes from a Dylan Thomas poem, saying: “Do not go gentle into that goodnight. Old [...]
Porsche SE ordered to pay damages over emissions scandal disclosures October 24, 2018 Porsche SE has been ordered to pay damages to shareholders and charged with violating disclosure rules connected to the diesel emissions scandal, law firms involved in the case said. Read more: Regulator hits Audi with €800m fine Investors sued the company for failing to tell shareholders about the emissions scandal quickly enough, as the holding [...]
Daimler and Volvo-owner Geely to build a luxury Uber rival in China October 24, 2018 Chinese carmaking group Geely has partnered with German manufacturer Daimler to form a joint venture that will see the two firms launch a premium ride-hailing service in China. The deal will create a new rival to local firm Didi Chuxing, which dominates the market with 217m users last year after merging with Uber China in 2016. [...]