Nissan chairman Carlos Ghosn has been arrested over claims of financial misconduct, the carmaker has said. Mr Ghosn, a towering figure in the car industry, will be sacked from the Japanese firm after a board meeting on Thursday, its chief executive said. He has been accused of “significant acts of misconduct”, including under-reporting his pay… Continue reading Nissan boss arrested over ‘misconduct’
Author: BBC News
Uber loss tops $1bn ahead of planned IPO
Uber posted a loss of $1.07bn (£821m) in the three months to September, as the ride-sharing firm prepares for a public stock offering next year. The US company’s net losses widened sharply on a quarterly basis as revenues rose only slightly. Uber was recently valued at $72bn, making it one of the most valuable privately… Continue reading Uber loss tops $1bn ahead of planned IPO
‘Most of us hate haggling for a new car’
The BBC’s weekly The Boss series profiles different business leaders from around the world. This week we speak to James Hind, founder of UK car price comparison website Carwow. While unforeseen circumstances can completely change all our lives, it was the global financial crisis that sent James Hind down an entirely different path. In 2008… Continue reading ‘Most of us hate haggling for a new car’
Subsidised plug-in cars driven on fuel
Tens of thousands of plug-in hybrids (PHEVs) bought with generous government grants may be burning as much fuel as combustion-engine cars. Data compiled for the BBC suggests that such vehicles in corporate fleets averaged just 40 miles per gallon (mpg), when they could have done 130. Many drivers may never have unwrapped their charging cables,… Continue reading Subsidised plug-in cars driven on fuel
Talks over building new car at Ford plant
Ford is in talks with a chemical company about using its Bridgend plant to build a new off-road vehicle. Ineos Automotive plans to build a car to replace the Land Rover Defender, which went out of production in 2016. Talks come a week after Ford told staff working on the new Jaguar engine not to… Continue reading Talks over building new car at Ford plant
Ford plant line to shut for five days
Staff at Ford’s plant in Bridgend working on the new Jaguar engine have been told not to come into work for five days. The AJ production line at the plant will shutdown from 29 October to 2 November, the GMB union confirmed. Letters were sent to directly staff this week without informing union officials in… Continue reading Ford plant line to shut for five days
Ford, Fiat and Nissan ads banned
Three different carmakers have had ads banned for encouraging unsafe driving. Two ads for Ford Mustang cars fell foul of the Advertising Standards Authority (ASA) after viewers complained that they showed driving as a way of releasing anger. The ASA also ruled against a Nissan Micra ad which it said depicted driving at excessive speeds.… Continue reading Ford, Fiat and Nissan ads banned
US self-driving school bus test halted
French-based transport firm Transdev has been ordered to stop an “unlawful” test of a driverless school bus in Florida by US regulators. The regulator said the firm had not been authorised to transport schoolchildren in Florida, and said the test was “irresponsible” and “inappropriate”. Transdev said it would stop the test a week early. The… Continue reading US self-driving school bus test halted
Audi fined £700m over diesel scandal
Audi has been fined €800m (£700m) to settle an investigation by German prosecutors into breaches of diesel emissions rules. The premium car brand, owned by Volkswagen, said it “accepts the fine and … admits its responsibility”. In June, VW agreed a €1bn settlement in Germany over the emissions scandal, which came to light in 2015.… Continue reading Audi fined £700m over diesel scandal
No-deal Brexit disastrous, says Ford boss
Media playback is unsupported on your device Ford’s European boss has said a no-deal Brexit “would be pretty disastrous” for British industry and could affect the company’s future in the UK. Steven Armstrong said he was “still confident” a tariff-free frictionless trade deal would be done. But he told the BBC that a no-deal outcome… Continue reading No-deal Brexit disastrous, says Ford boss