BBA Aviation profits down amid aerospace industry struggles August 5, 2019 Aerospace services firm BBA Aviation shares fell this morning as it announced a slight deterioration in first half profits. The firm, which provides the global aviation industry with fuelling, ground handling and passenger services, said a cooling sector was partly to blame for the results. Read more: Cobham founding family says takeover ‘against national interest’ [...]
Car sales stagnate again in July but electric vehicle market share surges August 5, 2019 New car sales were hampered last month by confusion over Brexit uncertainty and the government’s future policies over plug-in hybrid electric cars. The British new car market shrunk 4.1 per cent in July, its fifth straight month of decline, according to the Society of Motor Manufacturers and Traders (SMMT). Read more: Car industry investment grinds [...]
British Airways to fight data breach fine as parent company profits stay flat August 2, 2019 British Airways will “vigorously defend itself” against its £183m fine by authorities for a data breach in which more than 400,000 customers’ information was stolen. The airline this morning said it would use all means at its disposal to avoid the record-breaking penalty. Read more: British Airways owner set for record £183m fine after 2018 [...]
Brexit warnings reach fever pitch as BMW and Ford sound the alarm August 1, 2019 BMW and Ford have become the latest manufacturing giants to warn Prime Minister Boris Johnson about the perils of a no-deal Brexit. Speaking to journalists this morning, BMW boss Harald Kruger said a no-deal would be a “lose-lose” scenario for Britain and the EU. He offered to personally deliver his portent to the new PM. [...]
Fiat Chrysler defies global car industry woes, beating analyst forecasts July 31, 2019 Car manufacturing giant Fiat Chrysler surprised markets today by sticking to its full-year profit forecast after strong sales in its US pickup truck division helped defy an industry slowdown. The earnings were the car maker’s first since it failed to merge with Renault in June. Read more: Car industry investment grinds to a halt as [...]
Airbus warns Europe to gear up for a no-deal Brexit July 31, 2019 Airbus has called on European governments to hasten their planning for a no-deal Brexit and bury the hatchet on a long-running subsidy spat with the US. Europe’s biggest plane maker issued a warning this morning about rising trade tensions, overshadowing a strong set of second-quarter profits which pushed Airbus’s share price up 0.4 per cent. [...]
Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal July 31, 2019 Former Audi boss Rupert Stadler has been charged for his part in Volkswagen’s emissions cheating scandal, known as dieselgate. Read more: Former VW boss Martin Winterkorn faces criminal charges for emissions scandal The Munich public prosecutor’s office said this morning that it has charged Stadler and three others with false certification and criminal advertising practices. [...]
In a spin: Aston Martin suffers £78m first half loss as shares hit record low July 31, 2019 Aston Martin shares plumbed new depths this morning as the firm reported a first half loss of £78.8m, blaming a slowing global market and tumbling UK and European sales. Read more: Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal The troubled car maker is still reeling from a profit warning [...]
Car industry investment grinds to a halt as Brexit uncertainty cripples sector July 31, 2019 Investment into Britain’s car manufacturing industry has come to a near-standstill, as companies divert hundreds-of-millions of pounds towards mitigating a potential no-deal Brexit which they fear will plunge the sector into chaos. Inward investment into the sector plummeted more than 70 per cent to just £90m in the first six months of the year, according [...]
Ryanair boss Michael O’Leary blasts Boeing over 737 Max delays July 29, 2019 Ryanair could have no Boeing 737 Max jets available next year unless the aircraft manufacturer “gets its sh*t together,” said the airline’s boss, Michael O’Leary, this morning. The number of Max jets available to the Irish airline next summer could drop to zero, he said, unless the plane maker upgrades the jet so that authorities [...]