City Moves for 8 February 2017 – who’s switching jobs? February 8, 2017 Today's City Moves cover banking and online travel. Take a look at these movers and shakers: Aldermore Specialist lender and savings bank Aldermore has appointed two leading industry figures to its business finance team to drive further growth in its asset finance lending operations. Patrick Jelly joins the Bank as commercial director for asset finance. [...]
UK car sales reach highest point since 2005 in January as alternative fuel vehicles push to record market share February 6, 2017 UK car purchases reached a 12-year high in January as the alternative fuel segment jumped to a record market share. Year-on-year growth hit 2.9 per cent in the month, with 174,564 new purchases, according to the Society of Motor Manufacturers and Traders (SMMT). Car-buyers eschewed diesel vehicles as increased concerns over air pollution continue to [...]
Car manufacturing hits its highest level in 17 years – as auto makers slash investment January 26, 2017 UK car manufacturing hit a record high in 2016, new figures have shown – just as car manufacturers slashed the amount they invested in the UK. Figures published today by the Society of Motor Manufacturers and Traders (SMMT) showed the UK made 1.7m vehicles in 2016, up 8.5 per cent on the year before and [...]
China has hit supercar owners with a 10 per cent tax as it cracks down on luxury December 1, 2016 China's crackdown on luxury just went up a gear. It's imposed an additional 10 per cent tax on super cars, so the likes of Bentley, Rolls-Royce, Aston Martin and Ferrari are all affected. The tax will be applied to cars costing more than 1.3m yuan (£151,024) and is part of an effort to clamp down [...]
£450m goes towards digital signalling to improve rail reliability and £390m plugged into driverless cars, says Philip Hammond November 23, 2016 Amid his bumper infrastructure unveiling, Chancellor Philip Hammond announced £450m to trial digital signalling technology on railways to improve reliability. From 2018-19 to 2020-21 the Northern Powerhouse Investment Fund (NPIF) will plug this investment into signalling technology, while £80m will be allocated to accelerate the roll-out of smart ticketing, including season tickets for commuters in [...]
The fourth emergency service’s shares head northwards after debt refinancing announcement November 17, 2016 Motoring group the AA today announced plans for a balance sheet shake-up in the hope of cutting some of its hefty interest costs. Shares in the company jumped over two per cent after it revealed plans to refinance hundreds of millions of pounds of its corporate debt pile, a move the AA said would save the company £8m [...]
Britain’s used car sales motor to record levels as 2.1m vehicles changed hands from July to September November 17, 2016 Forget the very aesthetically appealing model debuts being wheeled out at the LA motor show, Brits are still feeling the love for used cars. According to the Society of Motor Manufacturers and Traders (SMMT), growth in the used car market continued in the third quarter of this year, with buyers snapping up a record 2.1m vehicles, [...]
Ousted Tata Sons chairman Cyrus Mistry to remain head of Tata Steel as turnover dips at the metals firm November 11, 2016 The former chairman of Tata Group's parent company will remain at the helm of Tata Steel, according to reports. Cyrus Mistry was suddenly removed as the chairman of holding group Tata Sons last month and was temporarily replaced by his predecessor, Ratan Tata. Mistry will stay on at Tata Steel, television channel ET Now reported, [...]
Ford net income plunges 50 per cent after product recall and Brexit ripples hits results October 27, 2016 Ford announced a drop of more than 50 per cent in its third-quarter profits today after the auto trader took a hit from a safety recall earlier in the year. The second-largest US car marker said lower sales, the high cost of the recall and complications surrounding the launch of a new truck had dented its income. [...]
Before the bell: What you need to know before the US market open October 25, 2016 Apple sales are expected to fall sharply and Twitter is planning another round of job cuts. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher ahead of the open, though only slightly. The S&P is up by 0.09 per cent, the Nasdaq is 0.14 per [...]