Ryanair’s €1bn profit upgrade lifts rival airlines’ shares January 10, 2020 Ryanair profit upgrade today on better-than-expected Christmas traffic has lifted competitors’ shares on the FTSE as well as its own. Ryanair’s stock rose 6.6 per cent to €16.23 as it raised full-year profit guidance to beyond €1bn (£850m) after saying Christmas and New Year bookings were “stronger than expected”. Read more: Ryanair’s ‘abusive’ hand luggage [...]
Ministry of Defence nuclear infrastructure projects set for delays of up to six years January 10, 2020 Three infrastructure projects which are together critical to the UK’s nuclear deterrent are set for delays of up to six years due to the Ministry of Defence’s (MoD) “poor management.” According to a new report from the National Audit Office (NAO), the projects will be delivered between 1.7 and 6.3 years late, at an additional [...]
Hitachi Rail to slash 250 jobs at County Durham factory January 9, 2020 Hitachi Rail has announced that it will cut 250 jobs from its train factory in County Durham. The Newton Aycliffe plant, which opened in 2015, will make almost a quarter of its staff redundant following a 45-day consultation process with employees. Read more: Hitachi closes in on £200m West Coast franchise deal The Japanese conglomerate [...]
Airbus “committed” to UK after no-deal fears assuaged January 9, 2020 Airbus’ chief executive has said that the aerospace company is still “committed” to the UK, in a turnaround from previous comments on Brexit. Speaking at the company’s New Year’s reception last night, Guillaume Faury said that he saw “great potential to improve and expand our operations in the UK this year.” Read more: Airbus announces [...]
Willie Walsh to step down as chief executive of British Airways owner IAG January 9, 2020 Willie Walsh, the outspoken CEO of British Airways’ owner International Airlines Group (IAG), is to step down, in a move likely to elicit a sigh of relief among politicians, union bosses and rival airline chiefs alike. IAG said this morning that Walsh, 58, would quit as chief executive in March, and officially retire on 30 [...]
Northern Rail franchise on course for financial collapse in ‘a number of months’ January 9, 2020 The crisis-stricken Northern Rail franchise is on course for a full-scale financial collapse within months, according to transport secretary Grant Shapps. In a statement citing the franchise’s most recent financial information, Shapps said the franchise could only continue to run for “a number of months” before the government stepped in. Read more: Arriva-run Northern Rail [...]
Nissan executives and Japanese officials hit back at Carlos Ghosn January 9, 2020 Former chief executive of Nissan and successor to Carlos Ghosn, Hiroto Saikawa, has slammed his former mentor’s daring escape from the authorities in Tokyo to his childhood home of Lebanon. Ghosn fled the country late last month while awaiting trial for four charges of financial misconduct. Read more: Carlos Ghosn lambasts Japanese government and Nissan [...]
Richard Branson’s Virgin Galactic spaceship passes construction milestone January 8, 2020 Sir Richard Branson’s Virgin Galactic has reached a major milestone in the construction of its next passenger spaceship, it said. All major structural elements have been assembled, and the rocket is standing on its landing gear at Mojave Air and Space Port in California. Read more: Sir Richard Branson set to launch Virgin Galactic IPO [...]
Carlos Ghosn lambasts Japanese government and Nissan for ‘collusion’ January 8, 2020 Carlos Ghosn has accused the Japanese state and Nissan executives of instigating a co-ordinated plot against him, in an explosive first appearance since his sensational escape from Japan last month. In a defiant but rambling press conference in Beirut, the former Nissan-Renault chairman said the charges of financial misconduct for which he had been arrested [...]
How will losing its London licence affect Uber? January 8, 2020 | Sponsored Uber does not appear to have the controls necessary to run a wide-scale transport service and assure passengers and authorities of adequate safety standards. Despite London being one of the company’s top five markets in the world by revenue, the company has shown a marked reluctance to fully co-operate with transport authorities. Time and again, [...]
