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Transport
Boeing workers vote on an offer of 35% to end their strike
Striking Boeing employees have been offered a 35% four-year settlement to try and end their industrial action, which has crippled the aircraft manufacturer. It is estimated that the strike costs the company $50 million per day.
The…
Ryanair misses its target due to delays at Boeing
Ryanair may be forced to carry fewer passengers next year than originally planned due to delays in Boeing's delivery of new aircraft.
Michael O'Leary is the chief executive officer of Ryanair. The low-cost carrier, which is Boeing's…
Stellantis vehicles are now being shipped at a lower rate by a fifth
Stellantis, parent company of Vauxhall has revealed the crisis as it revealed a 20 percent drop in deliveries compared to a year earlier.
Stellantis brand shipments in the world fell by 279,000 units to 1.14mn in the three-month period…
Infrastructure tsar: UK must prepare to implement road pricing
The country's top infrastructure advisor has stated that Britain needs to prepare for road price in order to cover a £35bn tax revenue shortfall from the switch to electric vehicles.
Sir John Armitt (chairman of the National…
Boeing withdraws its pay offer to striking employees
Boeing has pulled its 30 percent pay offer to striking factory workers as negotiations to end the costly strike have collapsed. S&P Global Ratings has warned it may downgrade Boeing's investment-grade credit rating to junk status, which…
Rio Tinto purchases Arcadium Lithium at a cost of $6.7bn
Rio Tinto struck a $6.7billion deal to acquire a lithium miner, making it the third largest producer in the world of this key ingredient for electric vehicle batteries.
The London-listed company is paying $5.85 per share in cash. This…
Job losses at UK suppliers due to Boeing and Airbus problems
Senior, a UK engineering company, will be forced to lay off staff due to the crisis at Boeing and the delays in returning to full production by Airbus.
Senior, a FTSE 250 company, pays the price of being a major supplier to two troubled…
Rio Tinto is considering a bid for Arcadium Lithium
Rio Tinto may make a bid to acquire a New York listed lithium miner, as the largest commodity groups in the world race to secure the metals and minerals that will power the global shift to cleaner energy. If the deal for Arcadium Lithium is…
Ford calls on Labour to put off electric car targets
Ford has urged the new Labour government in the UK to put an end to the ambitious sales targets set for electric cars and the harsh penalties that will be imposed on manufacturers who fail to meet them. The American auto giant, which was…
Manufacturers say that the VAT on electric vehicles should be cut in half.
The motor industry urged the chancellor on Tuesday to reduce the VAT rate for new electric vehicles, as well as public charging stations to stop the decline in the electric vehicle sector.
The Society of Motor Manufacturers and Traders,…
Electric car production drops by a fourth as demand falls
New figures reveal that the production of hybrids and electric cars fell by 25,9% last month due to a decline in demand. According to the Society of Motor Manufacturers and Traders (the car industry's body), this led to a decrease in their…
Elon Musk demands boycott of “Soviet” UK for snub at business summit
Elon Musk escalated his verbal war with the UK Government after being refused an invitation to a upcoming business investment conference. The Tesla billionaire responded to the news about the snub by saying: "I do not think anyone should…
Boeing strike: union refuses vote on 30% pay increase
Boeing, the troubled planemaker, announced to its striking workers a "best-and-final" offer of pay. However, its largest union refused to vote on an offer that did not meet their members' needs. The International Association of Machinists…
Alstom Completes 2 Billion Euro Asset Sale with US Rail Signalling Business Divestment
French train manufacturer Alstom has finalised its 2 billion euro recapitalisation and asset disposal programme by selling its American rail signalling business for $690 million. This sale marks the culmination of Alstom's efforts to…
Western Airlines Reduce China Flights as Demand Weakens and Russia Diversions Add Costs
Western airlines are significantly reducing flights to China due to several factors, including low demand, high costs related to flying around Russian airspace, and growing competition from Chinese carriers. Recently, British Airways…
We just need to build it: Concorde’s replacement is looking at supersonic flights from America
Boom Supersonic's founder explains why air travel will be at 1,300mph in the future.
The founder of a company that is seeking to build the successor to Concorde, has reacted to "flight shame" activists calling for an end to mass travel.…
British Airways pays first dividends since pandemic
British Airways, the owner of British Airways, will pay its shareholders a dividend for the first since the outbreak of the pandemic. The company has enjoyed a successful first half of 2024 with a positive outlook for the remainder of the…
US tech stocks have had their worst day since 2012.
Nasdaq 500 and S&P 500 experienced their biggest single-day percentage drops since 2022, after US technology stocks plunged due to disappointing earnings by Alphabet and Tesla.
The Nasdaq Composite dropped by 3.6% to a new low for…