Vertu Motors unveils acquisition
Vertu Motors has announced its biggest acquisition since 2007, and a £50m fully underwritten share placing that it hopes will power further deals. The car dealership group – which was…
Embraer in $8bn SkyWest aircraft supply deal
Embraer is to sell up to 200 aircraft to SkyWest, the world’s largest regional airline group, in a deal valued at up to $8bn that is set to revive the…
Fiat Industrial to move tax home to UK
©Bloomberg Fiat Industrial aims to move its tax residency to the UK from Italy after a merger with US business CNH to take advantage of a lighter fiscal regime, according…
Saab bosses held for alleged tax offences
©Bloomberg The former chief executive and finance director of bankrupt Swedish carmaker Saab have been arrested over suspected tax offences. Jan-Åke Jonsson, chief executive from 2005-11, and Karl-Gustav Lindström, finance…
Eco City seizes chance to lift taxi sales
Eco City Vehicles has benefited from the troubles of its rival taxi supplier, doubling its share of the licensed London market to 40 per cent and increasing its revenues by…
Hague hints at veto of Syria arms ban
©PA William Hague, foreign secretary, declared on Monday that Britain will veto the renewal of the European Union arms embargo on Syria next week if EU member states block moves…
GE finance arm to pay $6.5bn dividend
General Electric’s financial services division is paying a dividend of $6.5bn to its parent company, in line with a plan the conglomerate has set out to shift capital away from…
Iron ore prices fall to five-month low
Iron ore prices have fallen to their lowest in five months amid a wave of negativity that has led Chinese traders and steel mills to sell down their stocks of…
Mitie focuses on healthcare market
Mitie has announced the closure of two lossmaking mechanical and engineering contracting businesses, as it seeks to focus on more lucrative facilities management, healthcare and energy services markets. With the…
Tesla convertible: hybrid financing
Tesla Motors does not do hybrid cars – its Model S sedan is purely battery-powered. But it now does hybrid financing. Of the $1bn the company raised last week, $600m…
BAE’s investors set to back choice of chairman
BAE is moving toward naming its new chairman with the UK defence company’s most influential stakeholders expected to make a decision by mid June. One of the leading candidates is…
Bentley misses out on incentives
Bentley is one company that would profit from a revamp of the way government incentivises spending on research and development. The carmaker, owned by Germany’s Volkswagen, has a 900-strong engineering…
Building blocks to cut output costs
When Audi’s new A3 compact rolled off a production line in southern Germany last year, it became the first of as many as 40 new models that will be built…
Modular is way forward for suppliers
Modular production is an opportunity for the suppliers that are able to achieve the scale required to serve global car platforms. Magna, the Canadian car parts company whose clients include…
Polish defence spending set to soar
©Getty Poland is gearing up for its biggest-ever increase in military equipment spending, splashing out $43bn over the next decade in a procurement programme that promises to be a severe…