General Motors recalls 1m pickup trucks and SUVs in the US over faulty power-assisted steering September 13, 2018 General Motors (GM) is recalling more than a million pickup trucks and SUVs in the US over a fault to its power-assisted steering that can shut down while in use. GM is recalling certain models of the Chevrolet, including the 2015 Silverado and GMC Sierra 1500 pickups. The Chevy Tahoe and Suburban SUVs have also been affected, [...]
Michelin shares rise as tyre maker confirms guidance following growth in Europe and Americas September 13, 2018 Tyre maker Michelin has confirmed its guidance for the year and said strong growth in Europe and the Americas was offsetting a slowdown in China and emerging market currency troubles. The French company's shares rose 3.4 per cent on Thursday morning after confirming its financial outlook of sales volume growth and an increase in operating [...]
Michelin shares rise as tyre maker confirms guidance following growth in Europe and Americas September 13, 2018 Tyre maker Michelin has confirmed its guidance for the year and said strong growth in Europe and the Americas was offsetting a slowdown in China and emerging market currency troubles. The French company's shares rose 3.4 per cent on Thursday morning after confirming its financial outlook of sales volume growth and an increase in operating [...]
Volvo indefinitely delays IPO plans over uncertainty of trade war and automotive industry September 10, 2018 Volvo Cars has indefinitely delayed plans for a listing in Stockholm due to trade tensions and a down turn in automotive stocks. The Swedish carmaker and its Chinese owner Geely had planned an initial public offering valuing the company between $16bn (£12.4bn) and $30bn. Chief executive, Hakan Samuelsson told Reuters: “We have come to the [...]
UK’s computer games industry grows turnover by a third in a year September 10, 2018 The UK’s computer games industry grew by a third in the last year to hit £697m, according to new research published today. Revenue grew 34 per cent last year to £697m from £522m the previous year, research from online business finance supermarket Funding Options showed. Read more: This exhibition at the V&A is a deep [...]
Department of Justice to set out charges against North Korean ‘WannaCry hackers’ September 6, 2018 US officials are set to unveil charges against North Korean nationals allegedly behind the cyber attacks which hit the NHS as well as major global institutions last year. The expected charges, which will likely be announced by the Department of Justice later today, relate to both Sony Pictures being hacked in 2014 and the WannaCry [...]
Ford recalls nearly two million cars over faulty seatbelts in the US, Canada and Mexico September 6, 2018 Car giant Ford is recalling around 2 million of its cars after discovering a number of faulty seatbelt pretensioners that are found to be a fire hazard. An investigation by Ford found that the F-150 Regular and SuperCrew cab vehicles in north America have been fitted with the faulty pretensioners, which can generate excessive sparks and [...]
Melrose swings to a loss but finds ‘no black holes’ in GKN after £8bn hostile takeover September 6, 2018 Melrose recorded a half year loss of £303m following its acquisition of GKN but insisted “no black holes” had been found in the engineering giant it bought for £8.1bn in April. The turnaround company reported a statutory loss of £303m for the six months ending 30 June – compared with a pre-tax profit of £48m [...]
Some like it yacht: The Abarth 695C Rivale is a hot hatch inspired by a luxury boat September 3, 2018 The original Fiat 500 was Italy’s answer to the Mini, Citroen 2CV or Volkswagen Beetle: a ‘people’s car’ that mobilised the masses. In recent times, the practical Panda has answered this need for back-to-basics transport, while the 500, like many of the London streets it inhabits, has become gentrified. Today, it’s more premium than proletarian. [...]
Job cuts loom as Ford gears up for major business redesign September 2, 2018 Analysts at Morgan Stanley have predicted that car-maker Ford is preparing to axe around 24,000 jobs as part of major redesign of its European business. The Sunday Times reported that the car giant could axe up to 12 per cent of its global workforce across European outposts in the UK, Spain and Germany. The newspaper [...]