Car crash for Lookers: Motor dealer’s shares dive as FCA launch probe June 25, 2019 Motor retail giant Lookers suffered a crash in its share price this afternoon after revealing that the City watchdog is probing its sales practices. The car dealership chain’s share price dived 25 per cent this afternoon as the firm said that the Financial Conduct Authority (FCA) “intents to carry out an investigation into the company’s [...]
First Group chairman resigns after defeating Coast Capital’s boardroom coup June 25, 2019 First Group’s chairman has resigned despite defeating an attempt by activist investor Coast Capital to oust him from the board. Wolfhart Hauser has stepped down and will not stand for re-election at the company’s next annual shareholder meeting. Around one in four shareholders, excluding Coast, voted against the New York Hedge fund’s 13 resolutions, Press [...]
BMW to hit electric vehicles target two years early June 25, 2019 BMW is set to meet its target to create 25 electric vehicle models by 2025 two years ahead of schedule. The German car maker announced this morning it will reach the quota by 2023, with more than half of those models being fully-electric compared to hybrid or combustion engine. “We are moving up a gear [...]
No-deal Brexit could deliver ‘knockout blow’ to UK car industry June 25, 2019 The UK’s car industry has stepped up its no-deal Brexit warning, saying that crashing out of the EU would trigger “the most seismic shift” in trading conditions that the industry has ever seen. The Society of Motor Manufacturers and Traders (SMMT), the car industry organisation, has urged the UK’s next prime minister to secure a [...]
Space X launches Falcon Heavy rocket in ‘most difficult’ mission yet June 25, 2019 Space X last night launched its Falcon Heavy rocket carrying 24 experimental satellites in what boss Elon Musk said was the “most difficult” launch his firm has attempted. Read more: Space X explosion will delay astronaut plans, Nasa official says Lift off took place at around 2.30am local time from Kennedy Space Centre in Florida [...]
Tube delays: Severe delays hit Northern Line as train routes flooded June 25, 2019 Commuters faced a miserable commute to work this morning as the Tube’s Northern Line was hit with severe delays. Read more: Londoners brace for summer Tube strike chaos Severe delays hit commuters between Morden and Camden Town northbound via the Northern Line’s Bank branch this morning following a fire alert at Morden. That had a [...]
Southern Water hit with £126m fine for ‘shocking’ sewage spills June 25, 2019 A watchdog has slapped Southern Water with a £126m fine after “serious failures” in how the company operated sewage treatment sites over a seven-year period. A lack of investment in a number of Southern Water sewage treatment sites led to equipment failures and sewage spilling into the environment, regulator Ofwat said today. Read more: Ranked: [...]
Heathrow expansion is taking off – now let’s inject some competition into aviation June 25, 2019 It is an airport running at full capacity – and has been for years. Now at last, with the parliamentary approval of a new runway and the release of competing development plans, Heathrow expansion is back on the menu, boys. One of the contenders to be the next Prime Minister, Jeremy Hunt, is a firm [...]
Ranked: The best and worst UK energy suppliers June 25, 2019 The head of Citizens Advice has called for stricter requirements on energy companies as “far too many” struggle to give their customers good service. Gillian Guy said that a large number of companies are letting their customers down, as the consumer champion released its quarterly rankings. Read more: Complaints surge as more energy customers have [...]
Schroders and Columbia Threadneedle back Coast Capital in First Group dispute June 24, 2019 Activist investor Coast Capital, which is demanding an overhaul of bus and rail operator First Group, has received the backing of two major fund managers. Schroders and Columbia Threadneedle Investments, which own nine per cent and 10 per cent of First respectively, are opposing the re-election of the company’s chairman Wolfhart Hauser at an extraordinary [...]
