Tesla driving towards mass market for 2017 as Elon Musk announces Model 3 September 4, 2015 Tesla boss Elon Musk announced on Twitter that the company’s third car offering would be the mass-marketable Model 3, which he hoped would go into production in 2017. He tweeted on Wednesday night: “Model 3, our smaller and lower cost sedan will start production in about 2 years. Fully operational Gigafactory needed.” And, in a [...]
Rail operations drive Go-Ahead’s overall profits up despite losses September 4, 2015 TRAFFIC jams were partly to blame for transport company Go-Ahead’s 13.7 per cent drop in pre-tax profits. The FTSE 250 company, which runs London buses and the GTR, London Midland and Southeastern rail franchises, released its full-year results yesterday that showed earnings per share were down 25.9 per cent, or 42.2p, from 2014. Despite a [...]
B&G makes giant acquisition in American frozen foods industry September 4, 2015 B&G FOODS is about to make a giant investment. The American snack food company said yesterday that it would buy General Mills’s Green Giant frozen foods business, as well as its Le Sueur canned vegetable brand, for about $765m (£501m), in order to broaden its distribution network and expand into the frozen foods market. Growth in [...]
Chancellor backs Chote to stay at the helm of budget watchdog September 4, 2015 CHANCELLOR George Osborne has put his weight behind Robert Chote for a second term as chairman of the Office for Budget Responsibility (OBR). The chancellor said yesterday that he was nominating Chote to be re-appointed to the top job at the budget watchdog. The former director at the Institute for Fiscal Studies (IFS) think tank [...]
Prime Minister under pressure over refugees as Europe’s migration crisis worsens September 4, 2015 Prime Minister David Cameron has said that the government will “do more” in response to Europe’s migration crisis, indicating that the UK could take thousands of refugees from Syria in the coming months. City A.M. understands that Downing Street officials are urgently looking at the current policies surrounding asylum-seekers, and that new plans could be [...]
EU warns: SNP minimum booze price could distort competition September 4, 2015 Scotland’s first minister Sturgeon has said that she will “vigorously make the case” for a minimum unit price for alcohol in Scotland, even though a top official at the European Court of Justice (ECJ) said that the policy could restrict trade and distort competition. ECJ advocate general Yves Bot said yesterday that it was “difficult to [...]
Magic circle firms struggle to keep up with US rivals September 4, 2015 BRITAIN’s elite law firms failed to track the country’s improving economy and reported a combined turnover of £20.64bn, a one per cent drop in earnings from 2014. Figures released by Legal Business magazine today show that the number of lawyers employed by the largest 100 firms in the UK, has also fallen, down two per [...]
Skills gap is bigger threat than Brexit: Talent shortages to hit UK economic growth, warn finance chiefs September 4, 2015 Top UK finance chiefs are more unnerved by their lack of access to talented labour than they are by the threat of Britain leaving the EU, the Bank of England hiking borrowing costs or even the abrupt slowdown in China that has sent shockwaves throughout global financial markets. Fear over dwindling access to skilled [...]
Morgan: Loss has revealed weaknesses September 4, 2015 ENGLAND skipper Eoin Morgan refused to be downcast despite admitting his side’s 59-run defeat to Australia in the opening one-day international at Southampton last night had presented a number of conundrums to solve. The tourists posted 305-6 from their 50 overs thanks to a vital seventh-wicket partnership between Tasmanian wicketkeeper-batsman Matthew Wade and Mitchell Marsh [...]
Murray survives scare to squeeze past Mannarino September 4, 2015 BRITAIN’S Andy Murray fought back from two sets down to squeeze past plucky Frenchman Adrian Mannarino and force his way into the third round of the US Open at Flushing Meadows last night. Third seed Murray was staring down the barrel of defeat after dropping the opening two sets but battled back to dominate the [...]
