Transport
Black cab firm slides into administration
THE lossmaking manufacturer of Britain’s iconic black taxi slipped into administrative receivership after it failed to win a financial lifeline from one of its biggest shareholders.
2 commentsOlympics drives up the numbers for Eurotunnel
The London Olympics helped Channel Tunnel operator Eurotunnel reach record traffic levels this summer and pushed revenues up 13 per cent in the third quarter.
Taxi maker Manganese Bronze turns to Chinese investor for £15m rescue
MANGANESE Bronze, the maker of London’s iconic black taxis, is understood to be in talks with Chinese shareholder Geely to throw the British engineer a £15 million financial life line.
Business news in brief: ARR Craib | Remy Cointreau | Mothercare
ARR Craib Transport boosted its turnover by 9 per cent to almost £39 million last year, despite the tough trading conditions.
UK car industry hit by falling demand in Europe
Declining demand from mainland Europe put the brake on UK car production last month, figures yesterday revealed.
Eagle Couriers soaring towards £5m turnover
Eagle Couriers is on the road to achieving £5 million in annual turnover by 2014 after client numbers grew by a fifth in the past year.
McGill’s swallows another rival for £3m
Bus operator McGill’s said yesterday it had agreed to buy a Dumbarton-based rival for “around £3 million”.
1 commentMajor shareholder puts BAE on spot with buyback call
BAE Systems is being pressed by the defence giant’s biggest private investor to launch a substantial shares buyback following its derailed £28 billion merger deal with European aerospace group, EADS.
Taxi maker Manganese Bronze talks rescue with Chinese partner
GEELY, the Chinese carmaker, is weighing up a rescue bailout for troubled Manganese Bronze, the manufacturer of the iconic British black taxi.
Scots airports miss out on United routes
UNITED Airlines, the biggest in the US, has snubbed Scottish airports in favour of expanding its markets in Ireland, the Netherlands and Nigeria.
5 comments
Flybe plans to expand Scandinavian leasing
Regional airline Flybe said it would grow its contract work in Scandinavia yesterday after it took on more routes for partner Finnair.
Park’s of Hamilton confident despite ‘modest’ fall in turnover
Park’s of Hamilton, the car sales and coach hire empire founded by former Hearts director Douglas Park, remains in a “good financial position”, according to annual accounts which reveal a modest fall in sales and profits.
Shadow over iconic cabs as manufacturer Manganese Bronze’s shares suspended
THE future of black cab manufacturer Manganese Bronze was plunged into doubt yesterday as it suspended its shares after discovering a defect in its latest model.
BAE warns of ‘uncertainty’ in key US markets after merger blow
Defence firm BAE Systems warned that it faces “uncertainty” in its key US market due to defence cuts, the day after its proposed merger with Airbus parent EADS collapsed.
Car giant BMW set for record sales
BMW, the German carmaker that also owns British brands Mini and Rolls-Royce, is on track for record full-year figures after another double-digit rise in sales.
Ryanair pulls out of airport race
Budget airline Ryanair has withdrawn from the race to buy Stansted after saying the airport’s Spanish owner had blocked it from the sale process.
Air France-KLM joins forces with Etihad in latest airline tie-up
Air France-KLM and Abu Dhabi flag carrier Etihad yesterday unveiled a plan to offer passengers access to some of each other’s services, in a sign of improving relations between European and Middle Eastern airlines.
Ryanair bid to secure Aer Lingus
Ryanair yesterday held out fresh concessions in an attempt to win approval from competition regulators to acquire the Irish flag carrier, Aer Lingus.
Comment: Scottish car sales put Europeans in the shade
IF THE sales of new cars is an indicator of the health of the economy then things are surely looking up. More than 36,000 motors rolled out of Scottish showrooms last month, marking a 15.3 per cent rise on a year earlier.
New car sales drive higher in September
CAR sales accelerated last month as buyers snapped up the new 62 number plates, the Society of Motor Manufacturers and Traders (SMMT) said today.
Getting away: EasyJet on course for record full-year profit
EASYJET is on course to report its highest-ever full-year profits following a surge in the number of Britons looking to get away in the latter part of the summer.
Comment: First things first after rail franchise debacle
FIRSTGROUP chief executive Tim O’Toole spends half his week back home in Pennsylvania, but he must be wondering if it is time to change his work routine by spending more, or perhaps less, time in the UK.
Franchise fiasco wipes more than £200m off FirstGroup’s value
ALMOST £250 million was wiped off FirstGroup’s market value yesterday as analysts warned that the west coast rail line franchise fiasco could weaken the Aberdeen-based transport group’s balance sheet and may trigger further asset sales or even a rights issue.
2 comments
FirstGroup still on track to take over on the west coast
TRANSPORT firm FirstGroup still expects to take over the running of the west coast mainline on schedule in December despite Sir Richard Branson’s Virgin Rail mounting a legal challenge after losing the route.
Edinburgh airport seals its first IT contract
Edinburgh airport has outsourced some of its “mission critical” IT work for the first time, hiring Onyx Group on a five-year contract understood to be worth around £3 million.
Costs eat into Forth’s profits
Costs relating to its takeover by a private equity group took a large chunk out of profits at Forth Ports last year, but the Edinburgh-headquartered firm’s underlying figures were positive.
Europe under fire over ‘onerous’ taxes as airlines face £750m loss
Aviation industry leaders have launched a scathing attack on European governments and regulators as airlines operating across the region nurse a collective loss of almost £750 million.
1 comment
Dealership acquisition still the driving force for Arnold Clark
ARNOLD Clark is continuing its acquisition drive after posting steady 2011 sales figures to retain pole position as Scotland’s largest privately-owned company by turnover.
East coast rail firm on track
The nationalised operator of the east coast main line has posted an increase in full-year profits and said plans remain on track to return the business to private hands next year.
Grier gives up captain’s chair at Loganair
LOGANAIR chairman Scott Grier will today announce his retirement from the airline he has served for 36 years and guided through 1997’s management buy-out from British Midland.
Rosyth-Zeebrugge freight link could be under threat
SCOTLAND could lose its sole direct roll-on, roll-off sea freight link to Europe within two years because of poor demand and impending increases in fuel costs, a logistics expert will warn the industry tomorrow.
3 comments
John Clark stays cautious despite record new car sales
John Clark, one of Scotland’s biggest motor dealerships with a string of east coast showrooms, has enjoyed a second year of record profits as car sales took an upswing and the firm continued its expansion drive.
- Celtic shareholders urge club to drop joint commercial deals with Rangers
- Earthquake that killed nine people in southern Spain was ‘man-made’
- Charles Green apologises to fans for revealing death threats
- Scottish independence: Row over SNP bid to ‘rig’ cash limits for referendum
- Fleet grounded after helicopter ditches in North Sea
- SNP party conference: ‘We’re ruled by a bunch of Snootys,’ says Alex Salmond
- ‘Who dares wins’: Cheers and boos as SNP votes to end opposition to Nato
- Scottish independence: SNP reveal no legal advice sought over EU entry
- Ministers bid to head off rebellion after MSPs quit SNP over Nato decision
- Scottish independence: Row over SNP bid to ‘rig’ cash limits for referendum
- Scottish Government urged to review smoking ban
- Abercrombie & Fitch: The brand might soon open a store in Glasgow, but does its 'heritage' fit the city?
- Edinburgh trams: £100m left in budget as council pushes for faster progress
- Fleet grounded after helicopter ditches in North Sea
- Earthquake that killed nine people in southern Spain was ‘man-made’
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Weather for Edinburgh
Wednesday 24 October 2012
Today
Cloudy
Temperature: 5 C to 10 C
Wind Speed: 7 mph
Wind direction: North east
Tomorrow
Cloudy
Temperature: -0 C to 8 C
Wind Speed: 13 mph
Wind direction: North east
