FirstGroup signalled it is considering breaking itself up by seeking a buyer for its Greyhound buses in the US. The Aberdeen-based company, under fire from an activist investor, is also looking at spinning off its UK buses arm, First Bus. Matthew Gregory, chief executive since November, indicated the group’s train franchises could be reviewed and… Continue reading FirstGroup to sell Greyhound buses
Author: BBC News
Brexit shutdown cuts car output by 45%
Factory shutdowns designed to cope with disruption from a 29 March Brexit, slashed UK car production in April by almost a half. Even though Brexit is delayed the factories still closed and production fell 44.5% according to the Society of Motor Manufacturers and Traders (SMMT). In what it called “an extraordinary month”, the SMMT said… Continue reading Brexit shutdown cuts car output by 45%
Fiat Chrysler proposes merger with Renault
Fiat Chrysler has made a “transformative” merger proposal for French carmaker Renault, the Italian firm said on Monday. The combined business would be 50% owned by Fiat shareholders and 50% by Renault stockholders. The carmaker said the merger would create a global automotive leader, with 8.7 million vehicle sales. Carmakers have faced pressure to consolidate… Continue reading Fiat Chrysler proposes merger with Renault
Electric cars still to win over drivers
Only one in four people would consider buying a fully electric car in the next five years. That is the finding of one of the most comprehensive studies into UK consumers and pure electric vehicles. There has been a renewed focus on the climate and environment recently. The reluctance of British drivers to embrace cleaner… Continue reading Electric cars still to win over drivers
Ford announces 7,000 job cuts
US car giant Ford has announced it will cut 7,000 jobs globally by the end of August in an effort to save costs. The plan will reduce Ford’s workforce by 10% and will be made through both voluntary and forced redundancies, according to the firm. Ford said the plan, which includes 2,300 cuts in the… Continue reading Ford announces 7,000 job cuts
Tesla Autopilot engaged during fatal crash
A preliminary report into a fatal accident involving a Tesla Model 3 in the US has found Autopilot had been engaged 10 seconds before the crash. The Tesla was travelling above the speed limit when it crashed into a truck towing a trailer in March 2019. The roof of the car was sheared off in… Continue reading Tesla Autopilot engaged during fatal crash
New Land Rover to be built in Slovakia
Jaguar Land Rover (JLR) will build its next-generation Land Rover Defender 4×4 in Slovakia rather than the UK. The current Defender model was built at the firm’s Solihull factory near Birmingham until 2016. The firm says the new model has been designed and engineered in the UK and its new engines built in Wolverhampton. JLR… Continue reading New Land Rover to be built in Slovakia
Uber aims for $90bn stock market debut
Uber has revealed that it is seeking a valuation of $90bn (£70bn) in its much anticipated stock market flotation. The taxi-app firm has said that its shares will be priced at between $44 and $50 each, with the share issue set to raise about $10bn. As part of the offer it will sell $500m worth… Continue reading Uber aims for $90bn stock market debut
Ford in criminal probe over emissions
A criminal investigation has been opened into the way Ford tests the emissions of its vehicles. The US Department of Justice took action after Ford alerted the US Environmental Protection Agency to potential problems in February. Ford said the issue did not involve the use of defeat devices, which were at the centre of the… Continue reading Ford in criminal probe over emissions
Nissan’s ex-boss Ghosn leaves Tokyo jail
Former Nissan boss Carlos Ghosn has left his Tokyo jail, with conditions attached. Earlier, a court set bail at 500 million yen ($4.5m; £3.5m), paving the way for this latest release. Mr Ghosn faces four charges in Japan over allegations of financial misconduct, which he denies. It is the second time he has been bailed.… Continue reading Nissan’s ex-boss Ghosn leaves Tokyo jail