Spirit Aerosystems buys Bombardier’s 3,600-job Northern Ireland factory in $500m deal October 31, 2019 The 3,600-job Belfast manufacturing base of Canadian aerospace giant Bombardier has been snapped up by US rival Spirit Aerosystems, as part of a $500m deal. Bombardier, the province’s biggest employer, had sparked concerns that people could lose their jobs when it put the unit up for sale earlier this year, along with its operations in [...]
Car makers suffer ‘another bitterly disappointing month’ as Brexit uncertainty maintains grip October 31, 2019 The malaise that has gripped Britain’s car makers for the last year deepened in September, as the threat of a no-deal Brexit slammed the brakes on investment and caused production to stall. Car manufacturing, an industry which has felt the effects of Brexit uncertainty more sharply than most, fell 3.8 per cent last month to [...]
Q&A: What is behind Fiat Chrysler’s proposed mega-merger with Peugeot? October 30, 2019 After Fiat Chrysler’s (FCA) deal with Renault fell apart over the summer, chairman John Elkann has wasted no time in finding a new suitor – Peugeot-owner PSA. The two European automakers are in talks over a potential tie-up that could create a £36bn giant, in a move which highlights how urgently car makers are looking [...]
Boeing chief executive accused of lying as senators grill him on 737 Max crashes October 29, 2019 Boeing chief executive Dennis Muilenburg faced accusations of lying this afternoon during a bruising hearing on how his company certified its 737 Max jet to fly, after two crashes in the last year killed 346 people. Muilenburg, who was last month stripped of the dual role of chief executive and chairman, has spent much of [...]
Boeing boss to tell senators in 737 Max hearing: ‘We made mistakes’ October 29, 2019 Boeing chief executive Dennis Muilenburg will face a grilling from US senators this afternoon over how his company certified its 737 Max jet to fly, after two crashes in the last year killed 346 people. Muilenburg, who was last month stripped of the dual role of chief executive and chairman, has spent much of this [...]
Boeing ‘regrets’ leaked 737 Max Whatsapp messages October 21, 2019 Boeing has said it understands the clamour over leaked messages from a former test pilot over erratic software behavior on its 737 Max jet two years before recent crashes. US regulator the Federal Aviation Administration (FAA) on Friday ordered Boeing chief executive Dennis Muilenburg to give an “immediate” explanation for the delay in turning over [...]
Renault board ‘to discuss chief executive’s future’ tomorrow October 10, 2019 Renault chief executive Thierry Bollore is said to have avoided the matter of his potential exit from the firm in a conversation with staff today. The car maker’s board are due to meet tomorrow to discuss a potential management shake-up. Le Figaro newspaper reported that chairman Jean-Dominique Senard was poised to kick off a process [...]
Airbus ‘warns employees on cash flow’ in defence and space business amid Saudi arms ban October 9, 2019 Airbus’ second-most profitable division, its defence and space business, is said to have warned employees it faces serious challenges meeting cashflow for 2019. It comes after the company also urged its 33,000 workers to save more cash in the final quarter of last year. The last quarter is usually a period of more challenging cash [...]
Space race: Boeing invests $20m in Richard Branson’s Virgin Galactic as it prepares public listing October 8, 2019 Boeing is to invest $20m in Sir Richard Branson’s space-tourism venture Virgin Galactic, meaning it will have more money to take on rivals such as Elon Musk and Jeff Bezos in the commercial space race. Branson founded space venture Virgin Galactic in a bid to cash in on rising demand for space travel. He is [...]
Road to recovery? Nissan appoints Makoto Uchida as CEO to turn around stricken car maker after Ghosn scandal October 8, 2019 Nissan has named the head of its Chinese operation, Makoto Uchida, as its new chief executive, as the firm tries to put the brakes on more than a year of chaos at the firm. The 53-year-old Japanese executive has the task of turning around the stricken car maker, which has become ensnared in a combination [...]