Renault sees rating cut by Moody’s as problems mount February 19, 2020 Renault shares fell this morning after credit agency Moody’s cut its rating for the embattled carmaker’s debt to junk after last week’s poor full-year results. Moody’s said that the rating cut, which saw the French firm downgraded from Baa3 to Ba1, was triggered by Renault’s substantially weakened operating performance reported for last year. The financial [...]
Boeing finds debris in fuel tanks of 737 Max aircraft February 19, 2020 Boeing has found potentially dangerous debris in the fuel tanks of its grounded 737 Max aircraft in a further blow for the model, which has been grounded since last March after two fatal crashes. An internal memo said that the company had found foreign object debris (FOD) – rags, tools, metal shavings and other materials [...]
Heathrow airport halts take-offs due to plane blocking runway February 19, 2020 Heathrow airport briefly halted some flights this morning due to an aircraft blocking one of its runways. Specialist air travel news website Airlive had reported that a plane was blocking runway 27R. The plane, a BA flight from Tel Aviv, had to be towed off the runway after a hydraulic fluid spill. Sign up to [...]
UK inflation rate jumps to 1.8 per cent in January February 19, 2020 UK inflation rose to a six-month high of 1.8 per cent in January, a significant increase from December’s rate of 1.3 per cent, according to official data released today. The rate remains below the Bank of England’s (BoE) target of two per cent. The bump comes as a surprise to analysts, who had forecast the [...]
Qatar Airways buys $600m stake in British Airways owner IAG February 19, 2020 Qatar Airways has upped its holding in British Airways owner IAG to 25.1 per cent after buying an additional $604m (£465m) stake in the airline group. The Middle Eastern carrier previously owned a 21.4 per cent stake in IAG, which has seen its share price rise 52 per cent in the last six months. The [...]
South Western Railway to compensate passengers hit by December’s strikes February 18, 2020 South Western Railway (SWR) has announced it will compensate passengers affected by December’s RMT union strikes for the cost of five days’ travel. The embattled rail franchise said that although it had carried roughly 80 per cent of its normal passenger burden for that time of the year, it had decided to offer additional compensation [...]
Lender Amigo’s shares rise as suitors express takeover interest February 18, 2020 Amigo, the loans company, has revealed that several companies have expressed interest in buying the business after the firm opened itself to offers at the end of January. All or part of Amigo’s business could be sold after founder James Benamor’s Richmond Group said it was open to divesting its stake of 60.66 per cent. [...]
Extinction Rebellion occupies HS2 drilling rig in West London February 18, 2020 Extinction Rebellion have this morning occupied a drilling rig at an HS2 site in West London, claiming that the drilling could contaminate an aquifer which provides almost of quarter of London’s drinking water. Two members of the activist group, including Paralympian James Brown, have climbed onto the roof of the vehicle and have unfurled a [...]
Jingye to cut 400 jobs as part of British Steel takeover February 18, 2020 Jingye will cut a tenth of British Steel’s workforce at its Scunthorpe plant as the Chinese firm gears up to take over the embattled manufacturer. The company, which is in the process of finalising its £50m deal for the insolvent firm, is looking to implement a range of cost saving solutions. The Daily Telegraph reported [...]
Chancellor Rishi Sunak confirms 11 March Budget February 18, 2020 New chancellor Rishi Sunak has confirmed that the Budget will go ahead on 11 March. City A.M. understands Sunak, who was parachuted into the role after his former boss Sajid Javid quit last week, will not attend this weekend’s G20 meeting of finance ministers, in order to focus on preparations for the fiscal event, the [...]
