Thomas Cook falls to £53m loss confirming turbulent year caused by UK heatwave November 29, 2018 Thomas Cook has confirmed a pre-tax loss of £53m in a “disappointing” year for the travel operator, which has seen its value tumble. The package holiday provider, which issued a profit warning earlier this week, reported the £53m loss today, significantly down on the £43m pre-tax profit it posted in the year to September 2017. [...]
Sun shines on NextEnergy as it plans global expansion with new $750m fund November 28, 2018 A UK-based asset manager will raise $750m (£585m) to expand its portfolio of solar farms, it was revealed yesterday. NextEnergy, which has around $1.4bn in assets under management, has already raised $160m after the first close of its NextPower III fund. It has secured investments from the Norwegian pension fund, a Swedish life insurance firm, [...]
Electric Vehicle giant ChargePoint brings on Daimler as an investor in $240m funding round November 28, 2018 California-based electric vehicle charging network Chargepoint has secured $240m (£188m) in its largest-ever Series H funding round, bringing on new investors such as Quantum Energy Partners, which led the round, and Daimler. Other investors in the round include American Electric Power, Canada Pension Plan Investment Board, Chevron Technology Ventures, Clearvision and Government of Singapore Investment Corporation. They add [...]
Worst yet to come with Crossrail delay as TfL faces £400m 2021 revenue shortfall, warns Moody’s November 28, 2018 The delay to the launch of Crossrail will hit Transport for London (TfL) with a £400m funding shortfall in 2021, financial services giant Moody's has found. The £15.4bn Elizabeth Line was supposed to open this December but has been delayed until autumn next year because of issues around signalling testing. Moody's found that while TfL will manage [...]
From trains to trainers: TfL teams up with Adidas for Tube and Crossrail-inspired footwear November 28, 2018 Londoners may not be able to use the Elizabeth Line this year, but they can still travel in style elsewhere on the Underground with the release of a new range of Tube-inspired trainers by Adidas. Transport for London (TfL) has teamed up with the sports giant to launch a new range of trainers inspired by the Elizabeth Line, [...]
Airbus could restart UK investment if parliament approves May’s Brexit deal November 28, 2018 Aerospace firms may resume investment in the UK’s industry currently put on hold if Prime Minister Theresa May’s withdrawal agreement is voted through parliament, Airbus told MPs this morning. Companies have either paused investment in the UK since the EU referendum or transferred it to other markets, executives told the Commons' Business, Energy and Industrial Strategy [...]
Former Nissan chairman Carlos Ghosn denies burdening company with personal losses November 28, 2018 Former Nissan chairman Carlos Ghosn has denied passing personal trading losses to the car manufacturer, according to his lawyer. Japanese media reported yesterday that the ousted chairman may have transferred losses of ¥1.7bn (£11.7m) from a derivatives contract to the company in 2008. While Ghosn has acknowledged he consulted Nissan about the contract, he denies [...]
UK braces itself for a battering from Storm Diana as winds approach 70mph November 28, 2018 Brits are set to endure a downpour and buffeting winds as Storm Diana hits the UK today. The Met Office issued yellow weather warnings for western part of the UK this morning, with delays expected to public transport and routes carrying large vehicles from gales of up to 70mph. Severe rainfall will affect other parts [...]
SMMT calls on MPs to back Theresa May as it issues fresh warnings against a no-deal Brexit November 28, 2018 Automotive trade body the Society of Motor Manufacturers and Traders (SMMT) has issued a plea to MPs to back Theresa May’s deal as it issues fresh warnings against the impact of a “no-deal” Brexit. A survey unveiled at its 102nd annual dinner last night revealed that three quarters of carmakers fear a no-deal Brexit will [...]
Spark Energy customers moved to a new supplier after company reaches deal with Ovo November 27, 2018 Ovo Energy has come to the rescue of 290,000 customers after its former rival Spark collapsed last week. The company will serve the customers through its own license, but keep Spark’s name and staff after acquiring the business, a spokesperson told City PM Customers will remain on the same tariffs they had with Spark, Ofgem, [...]
