Rolls-Royce swings back to profit despite slow international travel recovery August 5, 2021 Engine maker Rolls-Royce reported an operating profit of £307m in the first half of 2021, marking a significant improvement from the £1.6bn in losses a year ago. The group said international travel would bounce back once restrictions are lifted, but warned recovery is “likely to occur beyond the initial expected timeframe of 2022.” Shares had [...]
Global car giants flag production falls as chip shortage grips August 4, 2021 A string of global car giants warned over their production targets today as the global semiconductor shortage showed no signs of abating. General Motors (GM), Toyota, and Honda all said that vehicle output would be lower than previously estimated in the second half of the year. GM said that it would be about 100,000 cars [...]
Vauxhall owner Stellantis boosts full year guidance after roaring off the line August 3, 2021 Stellantis charged out of the blocks in its first ever half year results, boosting its full year profit margin guidance despite the current semiconductor shortage. The car giant, which formed from the merger of Fiat Chrysler and Peugeot owner PSA in January, posted revenue of €8.6bn for the first half, smashing analyst predictions of €5.9bn. [...]
BMW raises 2021 profit forecast, but warns chip shortage will hit second half August 3, 2021 BMW has raised its profit forecast for 2021 today announcing strong quarterly results while warning investors about the impact of the global semiconductor chip shortage on the carmaker. The company saw “strong customer demand during the first half of the year,” according to a statement by chief executive Oliver Zipse. “However,” he continued, “in light of [...]
Upfront cost of electric cars putting customers off August 2, 2021 The upfront cost of buying an electric vehicle is putting people off buying one, new research from Which has found. According to a recent survey by the consumer group, more than a third (34 per cent) of potential buyers cited costs as the reason they might not buy one. That is despite the fact that [...]
New frontier: UK renews outdated space policies as giants seek commercial travel July 29, 2021 The UK is set to start regulating commercial space travel from today, as an increasing number of companies look to capitalise on the race to the stars. Before appointing its first-ever space travel regulator, the UK Civil Aviation Authority (UK CAA), the global legal framework surrounding commercial space travel appeared a relic of the Cold [...]
Airbus raises forecasts after better-than-expected half-year results July 29, 2021 Europe’s Airbus raised its forecasts for full-year deliveries and earnings today after announcing better-than-expected first half results. The world’s largest maker of planes announced that it was expecting to deliver 600 aircraft this year, up from the 566 that they managed last year. Reuters reported yesterday that this was in part due to the financial [...]
Some car firms losing 30 per cent of staff due to ‘pingdemic’ July 29, 2021 Some UK car makers are seeing up to 30 per cent of their staff having to isolate due to the ‘pingdemic’, trade body the Society of Motor Manufacturers and Traders (SMMT) has warned. Speaking at the association’s half-year production briefing, SMMT boss Mike Hawes said that the problem, which has affected many industries, was threatening [...]
Dallas engineering giant Jacobs to support UK’s first satellite launch site July 27, 2021 Dallas engineering giant Jacobs, which works with NASA, has secured a role in supporting the UK’s first vertical space satellite launch site due to be based in the Scottish Highlands. Jacobs will assess the local supply chain and report on how advanced engineering, asset management and avionics – aviation electronics – can be transferred to [...]
Bezos offers to cover $2bn of Nasa costs for lunar contract July 27, 2021 Amazon billionaire Jeff Bezos offered Nasa a $2bn (£1.45bn) discount if the space agency allows its company Blue Origin to build a spacecraft to land astronauts on the moon. Bezos said Blue Origin would waive payments up to $2bn in the current and next two fiscal years “to get the program back on track right [...]