General Motors to quit diesel and petrol cars by 2035 January 29, 2021 One of the world’s biggest car manufacturers has announced that it will cease production of all petrol and diesel vehicles by 2035. Overnight General Motors (GM) said that it was committed to ending “tailpipe emissions” from all new cars, SUVs and light pickup trucks in the next 14 years. The announcement came as part of [...]
SSAB pulls out of talks to buy Tata Steel’s Dutch plant January 29, 2021 Swedish firm SSAB today pulled out of talks to buy Tata Steel’s Dutch assets in a blow to the multinational conglomerate. Back in November talks between the two sides began after Tata indicated it was looking to break up its European operations. Under the plans, the firm said it would make its facilities at Port [...]
Reading resurgence leads Bloomsbury to hike guidance January 29, 2021 Bloomsbury said that its revenue and profit would both be ahead of forecasts for the full year due to the surge in reading over lockdown. In a trading update, the publisher said that strong trading in its consumer division would leave profit “well ahead” of expectations of £12.1m. Current revenue forecasts for the year, which [...]
Easyjet boss: We can ‘take advantage’ of European rivals who got state bailouts January 28, 2021 Easyjet’s chief executive has said not getting government bailouts like continental rivals during Covid-19 could benefit the budget carrier as it seeks to grow in Europe. Unlike in many European countries, the UK government has not propped up the country’s airlines despite multiple calls to do so. But Johan Lundgren said the restrictions imposed on [...]
Toyota overtakes Volkswagen to become world’s top carmaker January 28, 2021 Toyota has today overtaken Volkswagen to reclaim its crown as the world’s biggest car producer, the first time it has held the spot since 2015. The Japanese carmaker saw 9.5m cars roll off its assembly lines last year, despite an 11 per cent drop in production due to the pandemic. Volkwagen, on the other hand, [...]
Renewable energy production surpasses fossil fuels in 2020 January 28, 2021 Renewable energy sources surpassed fossil fuel energy production in the UK for the first time ever in 2020, led by wind power generation. According to analysis by think tank Ember, renewable sources provided 42 per cent of the UK’s energy, while fossil fuel sources like gas produced 41 per cent. The remaining 17 per cent [...]
Easyjet revenue collapses 90 per cent amid newest restrictions January 28, 2021 Easyjet today saw total revenue shrink nearly 90 per cent for the first quarter as the coronavirus pandemic showed no signs of abating. The budget carrier started the new financial year as it finished the last one, with revenue slumping to a mere £165m for the three month period. The plunge was announced a day [...]
Mitie raises full year guidance as Interserve deal beds in January 28, 2021 Outsourcer Mitie today raised its guidance for the full year due to an improved performance in the second half and its merger with Interserve. The FTSE 250 company said that full year revenue would now come in at £2.4-£2.5bn, with profit up to £57m-£61m. Shares in the firm rose 3.1 per cent as markets opened [...]
Wizz Air dives to €116m loss as lockdown restrictions continue to bite January 28, 2021 Budget carrier Wizz Air dived to a statutory loss of $116m (£102m) for the third quarter as further restrictions poured yet more pain on the aviation industry. The Hungarian flier said that revenue plunged 76 per cent in the quarter, falling back to €149.9m. It carried just 2.3m passengers across the three-month period, almost 80 [...]
Four charts which show what happened to the car industry in 2020 January 28, 2021 Months of shuttered factories and enforced social distancing due to Covid-19 saw the fewest cars manufactured in the UK since 1984 last year. Just 920,928 models rolled off production lines in 2020, the Society for Motor Manufacturers and Traders (SMMT) said today. That’s 29.3 per cent down on last year, when over 1.3m cars were [...]
