Collapse of car mega-merger poses headache for France’s Macron June 6, 2019 The Macron administration in France was forced to firefight today as it was accused of scuppering a multi-billion euro deal between Fiat Chrysler and Renault. A source close to Fiat Chrysler (FCA) today blamed the French government for succumbing to domestic pressures. It presents a headache for Emmanuel Macron, who won a presidential run in 2017 [...]
IAG kickstarts search for best budding aviation start-ups June 6, 2019 British Airways owner IAG has launched its latest global accelerator programme for budding aviation startups. The Hangar 51 programme, launched in collaboration with IAG brands Iberia and Vueling, will be based in Spain this year. It will seek out start ups from around the world who will work with mentors and experts from IAG to [...]
Stobart shares climb after director triples stake June 6, 2019 Stobart shares are up nearly six per cent after a non-executive director tripled his stake in the firm. Shares were trading 5.67 per cent up at the time of writing, following David Blackwood’s decision to increase his number of shares from 15,534 to 44,534, with each share purchased for 107 pence. Read more: Stobart’s wings [...]
Go-Ahead shares thrive as it predicts higher sales June 6, 2019 Go-Ahead expects revenues to be higher than originally thought in its London and international bus division, it said today. Read more: Go-Ahead appoints new interim chief financial officer The transport company also said it has seen its growth in passenger volumes and revenues in all regional bus businesses. That sent Go-Ahead’s share price soaring 9.4 [...]
Ford gears up to close Bridgend plant in September 2020, in ‘hammer blow’ for 1,700 workers June 6, 2019 Ford is preparing to close its factory in south Wales next year, in another blow for Britain’s car manufacturing industry. The move comes as a disaster for the 1,700 workers at the Bridgend plant, which makes petrol engines. Read more: Ford announces 7,000 job cuts across the globe Ford confirmed this afternoon it was consulting [...]
Fiat Chrysler withdraws Renault merger plans after French doubts June 5, 2019 Automotive giant Fiat Chrysler withdrew its proposal to merge with rival Renault late last night, but said it was still “firmly convinced” of the deal’s potential. An apparent lack of enthusiasm from the French government, which owns 15 per cent of Renault and had requested the deal be postponed, prompted Fiat to withdraw its offer. [...]
Go-Ahead appoints interim chief financial officer Elodie Brian as finance boss June 5, 2019 The Go-Ahead Group has appointed former Southeastern finance director Elodie Brian as its chief financial officer. Brian has been operating as the group’s interim CFO since December 2018, having previously worked as finance and contracts director at Southeastern, one the group’s franchises. Go-Ahead chief executive David Brown said: “I am delighted that Elodie can build [...]
Commuters brace for Tube chaos as 10,000 workers balloted for strike action June 5, 2019 Major strikes could bring London Underground to a standstill, with up to 10,000 workers threatening to walk out. Union RMT said it would ballot for the strike action after “crucial” talks with management collapsed earlier today. Read more: RMT stages five-day strike on South Western Railway Managers refused to increase salaries and improve working conditions, [...]
New car market misfires as confusion over government policy and incentives dents demand June 5, 2019 Rule changes to government policy and automotive grants caused hybrid and diesel car sales to plummet in May. Overall new car sales fell 4.6 per cent year-on-year to just 183,724 units. The figures come from the Society of Motor Manufacturers and Traders (SMMT). Read more: Car sales fall as removal of subsidies takes its toll [...]
Stick with HS2 or scrap it? Where every Tory leadership contender stands on the £56bn railway June 5, 2019 Theresa May has just days left as Tory leader, and it’s not just Brexit where the future is unclear – HS2 is also at a crossroads. Much of the talk around May’s potential successors has been centred on their stance on a no-deal Brexit. But in the transport world, all minds are focused on whether [...]
