Willie Walsh to step down as chief executive of British Airways owner IAG January 9, 2020 Willie Walsh, the outspoken CEO of British Airways’ owner International Airlines Group (IAG), is to step down, in a move likely to elicit a sigh of relief among politicians, union bosses and rival airline chiefs alike. IAG said this morning that Walsh, 58, would quit as chief executive in March, and officially retire on 30 [...]
Northern Rail franchise on course for financial collapse in ‘a number of months’ January 9, 2020 The crisis-stricken Northern Rail franchise is on course for a full-scale financial collapse within months, according to transport secretary Grant Shapps. In a statement citing the franchise’s most recent financial information, Shapps said the franchise could only continue to run for “a number of months” before the government stepped in. Read more: Arriva-run Northern Rail [...]
SIG shares plunge on yet another profit warning January 9, 2020 Building materials supplier SIG warned of a sharp fall in 2019 profit this morning, amid weak European construction markets and delays in its turnaround efforts taking effect. The company’s shares fell 20 per cent in early trading after it also said sales rates deteriorated towards the end of the year. Read more: Building materials group [...]
Nissan executives and Japanese officials hit back at Carlos Ghosn January 9, 2020 Former chief executive of Nissan and successor to Carlos Ghosn, Hiroto Saikawa, has slammed his former mentor’s daring escape from the authorities in Tokyo to his childhood home of Lebanon. Ghosn fled the country late last month while awaiting trial for four charges of financial misconduct. Read more: Carlos Ghosn lambasts Japanese government and Nissan [...]
Galliford Try boasts new contract wins after sale of housing arm January 9, 2020 Galliford Try shares soared this morning as the construction group touted a number of contract wins after the £1.1bn sale of its residential business. Chief executive Bill Hocking said the business had “good momentum” and a strong order book. Read more: Galliford Try joins the Winters of discontent Galliford, which completed the sale of its [...]
Richard Branson’s Virgin Galactic spaceship passes construction milestone January 8, 2020 Sir Richard Branson’s Virgin Galactic has reached a major milestone in the construction of its next passenger spaceship, it said. All major structural elements have been assembled, and the rocket is standing on its landing gear at Mojave Air and Space Port in California. Read more: Sir Richard Branson set to launch Virgin Galactic IPO [...]
Carlos Ghosn lambasts Japanese government and Nissan for ‘collusion’ January 8, 2020 Carlos Ghosn has accused the Japanese state and Nissan executives of instigating a co-ordinated plot against him, in an explosive first appearance since his sensational escape from Japan last month. In a defiant but rambling press conference in Beirut, the former Nissan-Renault chairman said the charges of financial misconduct for which he had been arrested [...]
Carlos Ghosn press conference live: Ghosn accuses Nissan and Japan of collusion January 8, 2020 Please manually refresh this page for our latest updates from Carlos Ghosn’s Beirut press conference. Carlos Ghosn’s sensational escape from the Japanese legal system at the end of December made him one of the world’s most sought-after international fugitives. Today, the former Nissan boss speaks to the world’s media, with a promise to dish the [...]
Airlines divert flights around Iran and Iraq after missile attacks and Boeing crash January 8, 2020 A host of airlines have said they will divert flight routes over the Middle East after Iran launched missile attacks on US air bases in Iraq last night. The announcements come after a Boeing jet also crashed over the Iranian capital overnight, killing 176 people. Airlines including Qantas, Etihad, Singapore and Emirates said they will [...]
Norwegian Air earnings rise as December capacity cuts take effect January 7, 2020 Norwegian Air was forced to cut its capacity for the third month in a row in December, as it scrapped loss-making routes as part of a plan to return to profit. The firm, which recently appointed a new boss, Jacob Schram, has struggled over the last year after rapid expansion. In 2014, Norwegian introduced the UK’s [...]
