Moody’s downgrades Jaguar Land Rover as it battles China slowdown June 20, 2019 Embattled car giant Jaguar Land Rover (JLR) suffered a fresh blow today after credit rating agency Moody’s downgraded the firm and warned of a “negative outlook”. Moody’s has reduced its corporate family rating to B1 from Ba3 and the probability of default rating to B1-PD from Ba3-PD. It also downgraded the instrument ratings on the [...]
RMT rail union accuses Sadiq Khan of Tory cuts ‘stitch up’ June 20, 2019 The RMT rail union has accused Sadiq Khan of carrying out “Tory cuts to the Tube” as it protests outside City Hall this morning. The union claims that Transport for London (TfL), which Khan chairs, has “given up” on restoring central government funding to the transport body. Read more: Tube strike action on the cards [...]
British Gas owner Centrica to axe 700 management jobs in UK June 19, 2019 British Gas owner Centrica has confirmed it will slash up to 700 management and back office roles in the UK as part of a previously announced wave of job cuts. The latest losses will count towards the 4,000 job cuts figure announced in February 2018, which Centrica intends to complete by 2020. Read more: British [...]
American Airlines picks up 50 Airbus A321XLR models June 19, 2019 American Airlines has picked up an order of 50 of the latest Airbus aircraft at the Paris air show. American Airlines, the world’s largest airline and Airbus operator, has bought 50 of the aerospace giant’s A321XLR aircraft, the new longer-range version of Airbus’ A321neo. Read more: Airbus wins orders over Boeing at Paris air show [...]
Coast Capital nominee for First board turns down role June 19, 2019 An activist investor in transport giant First Group has stumbled in its attempt to force out six of the firm’s directors after one of its nominees did not agree to stand for a board position. US investor Coast Capital, which holds a near 10 per cent stake in First, has called a radical shakeup of [...]
Nissan and Renault workers left with ‘nothing to do’ after Ghosn arrest June 19, 2019 Employees at Nissan and Renault’s joint ventures are without work as the alliance struggles after Carlos Ghosn’s arrest. The disgraced former chief executive and chairman left after Japanese prosecutors charged him with under-reporting his salary. Read more: Nissan forecasts worst earnings in 11 years amid Carlos Ghosn saga Departments overseeing some of the carmakers’ joint [...]
New London cycleway to link Tower Bridge and Greenwich June 19, 2019 One of London’s most dangerous roundabouts is to be transformed as part of a new £54m cycleway in south-east London. Construction on Cycleway 4, which will run between the iconic Tower Bridge and Greenwich, will start next month. Read more: Sadiq Khan slams Westminster council for pulling out of £80m Oxford Street pedestrianisation plans The [...]
London City Airport video offers sneak peek of £500m upgrade June 19, 2019 London City Airport (LCA) has offered the public a glimpse into the future look of its £500m revamp. Read more: Tulip tower may interfere with radar systems The airport has shown passengers a sneak peak into what the airport will look like from 2022. It will boast a new check-in and security area, departures lounge, [...]
Commuter misery: Severe delays hit two Tube lines June 19, 2019 Severe delays on the District Line and Jubilee Line left Underground commuters with the prospect of a hellish commute to work this morning. Read more: 10,000 Tube workers balloted on summer strike A signal failure at East Putney caused severe delays between Wimbledon and Earl’s Court on the District Line, despite a good service running [...]
Global banks are leading the charge to decarbonise shipping June 19, 2019 It is sadly rare to see participants from across the world collaborate to achieve a common and worthy aim, and rarer still to see such collaboration driven by the private sector. But when it comes to tackling climate change, such global collaboration has never been more vital. That makes the Poseidon Principles particularly welcome. This [...]
