Airbus announces mammoth Middle Eastern jet orders worth more than $30bn November 18, 2019 Airbus has announced orders for more than 170 planes this morning, in a mammoth set of deals valued at more than $30bn at list prices. Air Arabia, a low-cost Emirati carrier has ordered 120 narrow-body planes including the A320neo and A321 XLR models, while Dubai government airline Emirates placed an order for 50 of the [...]
Boeing receives vote of confidence in 737 Max from Turkish airline Sun Express with $1.2bn order November 18, 2019 The annual Dubai air show kicked off this week with billions of pounds-worth of aircraft deals, including a substantial order for 10 Boeing 737 Max jets which remain grounded worldwide after two fatal crashes. Turkish airline Sun Express, which already has 32 of the planes on order, put its faith in the under-fire US manufacturer [...]
Daimler to cut thousands of managers to pay for electric cars November 14, 2019 Daimler, the maker of Mercedes-Benz cars, will cut a tenth of all its manager-level workers across the globe, in a bid to slash €1.4bn worth of personnel costs. The German manufacturer said this morning the cuts came as its profit would fall significantly over the next two years because of the shift to electric vehicles. [...]
Norwegian wealth fund blocks investment in security giant G4S on human rights concerns November 14, 2019 Norway’s £860bn sovereign wealth fund has blacklisted investment in one of the world’s biggest security companies, G4S, because of an “unacceptable risk” of human rights abuses against its workers in Qatar and the United Arab Emirates. London-listed G4S employs around 18,000 people in the two countries – part of its more than half-a-million global workforce [...]
Brexit has cost Britain a Tesla gigafactory, according to Elon Musk November 13, 2019 Britain missed the opportunity to have Tesla’s first European factory because of Brexit, according to chief executive Elon Musk. Instead, the electric car maker plumped for a site near Berlin for the so called gigafactory, where it will make batteries, powertrains and vehicles. Read more: Tesla holds share gains after surprise third quarter profit The [...]
Cobham buyer Advent ‘mulls £2.5bn float of industrials firm Rubix’ November 13, 2019 The private equity giant which is in the process of buying British defence firm Cobham for £4bn is said to be mulling a float of another of its UK assets. Advent International, the US investment firm, has reportedly hired advisers to prepare the stock market debut of Rubix Group, a distributor of industrial repair kits, [...]
Wizz Air is planning to expand in London ‘no matter what happens to Brexit’ November 13, 2019 Low cost flyer Wizz Air is planning to spread its wings in its key London market, “no matter what happens … to Brexit,” its chief executive said today. Jozsef Varadi, who co-founded the Hungarian carrier, said this morning he “absolutely” plans to expand in the capital, despite missing out on Thomas Cook’s take-off and landing [...]
HS2: Leaked report means controversial project is now an election issue November 13, 2019 The HS2 high speed rail line has long been the problem child of British infrastructure. Now, at a decade old and with a final decision on its future fast approaching, it is hurtling towards its difficult teenage years. Yesterday, a leaked draft of the government-commissioned review into the project cast yet more doubt on how [...]
Sanjeev Gupta’s Liberty House could sell Jaguar Land Rover supply business November 12, 2019 Sanjeev Gupta’s industrial conglomerate Liberty House is considering selling a major automotive supplier to Jaguar Land Rover (JLR) and Renault. The company has hired advisers from Grant Thornton to look into how to address market issues facing Liberty Pressing Solutions (LPS). Read more: GFG Alliance launches $15bn Liberty Steel Group One of the options on [...]
Deputy chair of leaked HS2 review slams ‘whitewash’ report November 12, 2019 The deputy chair of the government-commissioned review into HS2 has savaged a late draft of the report, which urges ministers to press on with the project. Lord Tony Berkeley, who was co-author of the report until a matter of weeks ago, has written to chairman Douglas Oakervee demanding his name be removed from the document. [...]
