Volvo indefinitely delays IPO plans over uncertainty of trade war and automotive industry September 10, 2018 Volvo Cars has indefinitely delayed plans for a listing in Stockholm due to trade tensions and a down turn in automotive stocks. The Swedish carmaker and its Chinese owner Geely had planned an initial public offering valuing the company between $16bn (£12.4bn) and $30bn. Chief executive, Hakan Samuelsson told Reuters: “We have come to the [...]
Uber and Rolls-Royce face competition from startup planning to bring air taxis to UK by 2022 September 10, 2018 A UK startup has launched a challenge against titans Uber and Rolls-Royce as it unveiled plans for a flying taxi which could take to the skies as early as 2022. The company, called Vertical Aerospace, announced it had built and flown its fully electric vertical take-off and landing (eVTOL) aircraft in June, which could be used as an alternative [...]
Hotel group owner Surinder Arora prepares to challenge Heathrow with £14bn expansion bid September 9, 2018 The hotel tycoon behind an audacious bid to build and operate Heathrow’s third runway plans to put his money where his mouth is, challenging the airport’s operator for control of expansion plans. Surinder Arora has confirmed he intends to launch a formal bid to build a new terminal and runway at the airport, the busiest [...]
Mother and child ‘amazingly’ survive Tube platform fall by hiding in pit under track September 8, 2018 A mother and child were “extremely fortunate” to survive after falling onto a Tube track seconds before a train arrived at Baker Street last night. British Transport Police (BTP) said the woman was pushing her child in a buggy along the platform just before 10.15pm last night when she accidentally pushed the wheels over the platform [...]
Ryanair cabin crew unions threaten more strikes later this month September 7, 2018 Unions representing Ryanair staff across Europe have threatened to strike later this month unless the airline agrees to change working conditions. Seven unions representing mostly cabin crew in Italy, Belgium, Portugal, Spain and the Netherlands said they would make a decision on whether to strike by 13 September – after meeting in Rome on Friday [...]
Shares fall as BA investigates data breach affecting 380,000 card payments September 6, 2018 British Airways has admitted that hackers stole customer data from its website and mobile app over the last two weeks. Shares in International Airlines Group, of which BA is a subsidiary, have fallen more than 2 per cent this morning as the airline launched an investigation into the theft, which it said affected at least [...]
London Assembly votes against mayor’s plan to remove congestion charge exemption for private hires September 6, 2018 The London Assembly has voted down Sadiq Khan's plans to remove the congestion charge exemption from private hire vehicles (PHVs) operating in the capital such as Uber. Sixteen assembly members voted for the motion against the mayor's proposals, while three voted against it and two members abstained. Taxis and PHVs are exempt from paying the congestion charge when [...]
Ride-hailing firm Taxify enters the electric scooter market September 6, 2018 Embattled ride-hailing firm Taxify has launched its first foray into battery-powered scooters with a debut in Paris, proving the tide might be turning after it was forced out of the UK just three days into operations last year. The firm, which operates in 25 countries across Europe, Africa and Australia, will compete against startups Bird and [...]
Ford recalls nearly two million cars over faulty seatbelts in the US, Canada and Mexico September 6, 2018 Car giant Ford is recalling around 2 million of its cars after discovering a number of faulty seatbelt pretensioners that are found to be a fire hazard. An investigation by Ford found that the F-150 Regular and SuperCrew cab vehicles in north America have been fitted with the faulty pretensioners, which can generate excessive sparks and [...]
More strikes on the cards as RMT renews mandate for industrial action on South Western Railway September 6, 2018 More strikes lie ahead for users of South Western Railway after workers at the RMT rail union voted to continue action over the role of guards. The RMT union said it had secured an 88 per cent vote to continue with the strikes that have plagued commuters over the past year after the government forced [...]