Volkswagen to build Tesla-style gigafactories as it ramps up electric car production April 15, 2019 Volkswagen is pushing its electric battery suppliers to build factories with at least one Gigawatt manufacturing capacity, according to its chief executive. Read more: Panasonic reviews plans for expansion of Tesla Gigafactory Joint venture partners such as South Korean firm SK Innovation (SKI) would need to build a so-called gigafactory because “anything below that amount [...]
Power supply issue hits London Tube commuters with severe delays April 15, 2019 A power supply problem has hit commuters along the entire length of the Jubilee Line this morning. Read more: Tube travel chaos on horizon as unions threaten strike action Severe delays have disrupted the Tube line as a result of the issue, leaving commuters to face a horrible journey to work today. Transport for London [...]
Passengers take wings at Heathrow as airport sees growth despite Brexit headwinds April 15, 2019 London’s main airport Heathrow showed its 29th consecutive month of record growth in March as passengers headed for Africa and North America helped push up figures. The number of trips made on connections to Africa jumped 5.8 per cent to 304,000, while freight to and from the continent grew 11 per cent as Virgin increased [...]
Stagecoach threatens legal action after rail franchise bids spurned by Chris Grayling April 14, 2019 Stagecoach is threatening legal action after the government spurned bids for three rail franchises in a row over pensions. Lawyers for the train and coach operator have written to the Department for Transport (DfT), which Chris Grayling leads, demanding answers as to why it was barred from bidding for the West Coast, South Eastern and [...]
Biggin Hill boss says Britain must become more competitive as Brexit causes private jet slump April 14, 2019 London's business aviation market is down 5.5 per cent on last year as uncertainty around Brexit continues to bite, a boss at one of London's busiest private jet airports has said. Robert Walters, business development director at London Biggin Hill Airport, said "the number one message" he was receiving from customers was that they needed [...]
Amey ‘makes fresh £300m bid’ for freedom from Birmingham roadworks contract April 14, 2019 Outsourcer Amey has offered £300m to Birmingham city council in a bid to free itself from a 25-year contract to repair roads in the city, according to reports. Read more: FRC investigates Grant Thornton audits of Interserve The struggling UK company has been trying to buy its way out of the troublesome contract for months, after [...]
Uber IPO: Six things you need to know April 13, 2019 After Uber unveiled its pitch to investors ahead of the company's initial public offering, here are six of the most significant things to know. Revenue is plateauing As Uber continue to prioritise growth over profits, the ride-hailing giant's revenue has plateaued. The firm reported an adjusted loss before interest and tax of $1.9bn for 2018, 15 per [...]
Thames Water outlines refund policy if Labour nationalise utilities April 13, 2019 Thames Water has told investors they will be able to demand a refund if Labour come into power and nationalise the utility after inserting a new clause into to its outstanding bonds. In a stock market document to the Irish Stock Exchange, the company outlined Labour's policies of renationalising water, among other utilities like gas and electricity, as [...]
Facebookers prepare to take the bus as National Express buys Californian shuttle stake April 12, 2019 The National Express Group has bought a majority stake in Californian shuttle service, WeDriveU, for $84.3m (£64.5m). The transport operator has purchased a 60 per cent share in the American company, which drives workers around Silicon Valley to their jobs at firms like Facebook, Tesla and Amazon. Read more: Indian airline Jet Airways grounds international flights [...]
London Oxford Street traffic brought to standstill by climate change protest April 12, 2019 Around 1,000 student strikers caused traffic chaos in central London today as part of a climate change demonstration. Read more: Working groups established to help finance sector deal with climate change The protesters blocked Oxford Street at the intersection with Regent Street as the third nationwide climate protest turned into a march. Queuing traffic spilled [...]
