Takata’s share price is crashing as airbag recall balloons March 30, 2016 Shares in Japanese airbag manufacture Takata have slumped after the supplier warned the recall of its airbag inflators, fitted into millions of cars around the world, would exceed earlier estimates. The total cost of the recall is expected to come in at 2.7 trillion yen (£16.6bn), £5bn more than analysts at Jefferies had previously estimated. Takata, it [...]
General Motors given the go-ahead to acquire driverless car startup Cruise Automation March 28, 2016 The Federal Trade Commission has green-lighted General Motors' purchase of Cruise Automation, a Silicon Valley startup that makes the technology behind self-driving cars. The FTC and Justice Department has granted the transaction "early termination", or quick antitrust approval. The acquisition of Cruise Automaton – which has only 40 employees – has been reported to be worth over $1bn in [...]
Uber boss Travis Kalanick says IPO is not on the near-term agenda March 28, 2016 Uber's chief executive Travis Kalanick has stated there are no plans to float the company on the stock market in the near future. The ride-hailing app firm's boss and co-founder told CNBC that he is "going to make sure [an IPO] happens as late as possible", adding that a flotation is definitely not going to happen [...]
Shares in African budget airline Fastjet closed down over 10 per cent yesterday following EasyJet owner’s warning letter March 24, 2016 Fastjet's share price plunged yesterday, dropping by 10.95 per cent to close at 30.50p. The stock dipped on the first day of trading since Easy Group owner Sir Stelios Haji-Ioannou sent a letter to the African budget airline, threatening legal action over a series of alleged licence breaches. Easy Group – parent company of EasyJet – [...]
HS2 rail link gets the go ahead, passes commons vote with 399 votes to 42 March 23, 2016 The high speed rail link known as HS2 between London and Birmingham has taken another step towards final approval after it was voted through by MPs in the House of Commons this evening. The project, which sports a price tag of £56bn, passed by a landslide 399 votes to 42, backed by both the Conservative and Labour leadership. It now [...]
Brussels attack: Travel disruption will continue as Brussels’ Zaventem Airport to remain closed until Saturday March 23, 2016 Brussels' Zaventem Airport is set to remain closed on Friday, it's been reported by the Belga News Agency as the operation to secure the airport continues. Attacks on the airport yesterday left as many as 11 people dead after two explosions. One British national is among those injured. The Maalbeek metro station was also targeted, killing 20 others. A total 260 people were wounded [...]
Government shortlists nine companies for £11.8bn worth of HS2 work between London and Crewe March 23, 2016 The government today announced it had shortlisted nine companies bidding for up to £11.8bn of work on HS2 between London and Crewe. It has also started the formal tendering process for up to £900m worth of work to prepare sites for construction and the start of the procurement process to grow several million trees. Contracts covering the 140 miles [...]
Easter travel is going to be a headache, thanks to engineering works on the Tube and National Rail affecting Gatwick Express, London Midland, Southern, Southeastern and Virgin Trains March 21, 2016 Thinking of travelling by Tube or train over the Easter break? You might have to think again. There is going to be plenty of engineering works disrupting swathes of the networks this weekend starting from Good Friday on 25th March to Easter Monday on the 28th March. National Rail is planning "one of the biggest Easter investment programmes to [...]
Transport for London approves new regulations to “modernise and improve the private hire industry” as it cracks down on the growth of Uber March 18, 2016 Transport for London has approved a new plan to modernise and improve London's private hire industry. It is the first significant amendment to private hire regulations since they were first introduced following the surge in the number of private hire vehicles in the capital after the meteoric rise of Uber. The private hire vehicles will [...]
Transport for London names Arriva as new operator for London Overground – and here’s what it’s going to do for commuters March 18, 2016 Arriva has pledged to help TfL introduce new trains, modernise stations and run more frequent services as it takes on the new contract to run London Overgound. Arriva will take over from the existing operator LOROL in November, and will support TfL in delivering further improvements under a contract worth £1.5bn. The contract will cover seven and a [...]