The mega-airport everyone loves to hate is getting a $100b upgrade
The plan involves a £21 billion, 3500-metre runway, as well as building a new terminal, upgrading current facilities, and rerouting the M25, a major highway that circles London. The expansion project would allow 276,000 more flights a year and increase annual passengers from 82 million today to 150 million, Heathrow said on Thursday (Friday AEST).
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The Australian
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- The Australian
ASX 200 live: Lynas. Iluka rise; TPG's big cash return; CBA flags $130m in provisions
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9 News
2 hours ago
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Tesla hands the world's richest man a $44 billion payday
Your web browser is no longer supported. To improve your experience update it here Tesla has given Elon Musk a stock grant of $US29 billion ($44.79 billion) as a reward for years of 'transformative and unprecedented" growth despite a recent foray into right-wing politics that has hurt its sales, profits and its stock price. In giving its billionaire chief executive 96 million in restricted shares, the electric car company noted that Musk had not been paid in years because a Delaware court rejected his 2018 compensation package. The award comes eight months after a judge revoked the 2018 pay package a second time. Tesla has appealed the ruling. Elon Musk will wield more control of Tesla after being handed 96 million more shares in the company. He is pictured speaking at a conservative conference earlier this year. (AP) Tesla on Monday (Tuesday AEST) called the grant a 'first step, good faith' way of retaining Musk and keeping him focused, citing his leadership of SpaceX, xAI and other companies. Musk said recently that he needed more shares and control to stop activist shareholders from ousting him. 'Rewarding Elon for what he has done and continues to do for Tesla is the right thing to do,' the company said in a regulatory filing, citing an increase of $US735 billion in Tesla's value on the stock market since 2018. Tesla shares have plunged 25 per cent this year largely due to blowback over Musk's affiliation with US President Donald Trump. But Tesla also faces intensifying competition from both the big Detroit car makers, and from China. In its most recent quarter, Tesla reported that quarterly profits plunged from $US1.39 billion to $US409 million. Revenue also fell and the company fell short of even the lowered expectations on Wall Street. Investors have grown increasingly worried about the trajectory of the company after Musk had spent so much time in Washington this year, becoming one of the most prominent officials in the Trump administration in its bid to slash the size of the US government. Tesla vehicles at the company's store in Warminster, Pennsylvania, last month. (Bloomberg) The electric vehicle maker said in the regulatory filing that Musk must first pay Tesla $US23.34 a share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package. In December, Delaware Chancellor Kathleen McCormick reaffirmed her earlier ruling that Tesla must revoke Musk's multibillion-dollar pay package. She found that Musk engineered the landmark pay package in sham negotiations with directors who were not independent. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk's 2018 compensation package. That pay package carried a potential maximum value of about $US56 billion, but that sum has fluctuated over the years based on Tesla's stock price. Musk appealed the order in March. A month later Tesla said in a regulatory filing that it was creating a special committee to look at Musk's compensation as CEO. Musk has been one of the richest people in the world for several years. Wedbush analyst Dan Ives feels Musk's stock award may alleviate some Tesla shareholder concerns. 'We believe this grant will now keep Musk as CEO of Tesla at least until 2030 and removes an overhang on the stock,' Ives wrote in a client note. 'Musk remains Tesla's big asset and this comp issue has been a constant concern of shareholders once the Delaware soap opera began.' Under pressure from shareholders last month, Tesla scheduled an annual shareholders meeting for November to comply with Texas state law. A group of more than 20 Tesla shareholders, which have watched Tesla shares plummet, said in a letter to the company that it needed to at least provide public notice of the annual meeting. finance World TESLA elon musk CONTACT US Auto news: Honda here to stay in Australia, announces growth plans.
Sydney Morning Herald
5 hours ago
- Sydney Morning Herald
First class across France for $93? Mais oui
Seats are placed in rows of three; a single on one side of the aisle and a pair on the other. Mine is 46 by the window on the right-hand side of the train; for the first part of the journey to Marseille, I'm facing backwards, but it doesn't worry me. The charcoal and red colour scheme is smart; the upholstered seats have a footrest, a mirror, bag or coat hook and a small shelf that converts to a full-size drop-down tray table for a laptop or meal. There's a drink holder, a USB port and a standard European socket plus a button to recline the seat that I keep hitting accidentally as it's on the inside of the armrest. The free on-board Wi-Fi is patchy, so I stick to 5G on my roaming plan. Baggage You must be able to carry all your luggage by yourself. After the station boarding gates, only ticket holders are allowed on the platform. You can take either two suitcases, or one suitcase and one special item (eg a bike or skis), plus one item of hand luggage. Your hand luggage can measure a maximum of 4cm x 30cm x 15cm; your suitcase can measure a maximum of 70cm x 90cm x 50cm. Fees from €50 apply for excess baggage. Food + drink As a private group, we're allocated a host who delivers drinks, meals and snacks to our seats, airline-style. The standard is excellent (apart from typically bad French coffee) and the packaging recyclable. Our cold lunch is chicken with couscous, a mustardy potato salad, a bread roll and a cherry and almond cake. There is also a vegetarian option. Soft drinks are offered throughout the journey and snacks include really good butter cookies with chocolate. If you're travelling independently, meals and drinks can be pre-ordered online and picked up via the priority queue in the bistro car. One more thing Given this trip takes almost six hours, I would recommend forking out for the more spacious first-class seats. Loading The price From €52 ($93) one way for first class, meals extra. See If you want to book a private carriage and host for a group, email The verdict I can't really fault this trip as an affordable, comfortable and sustainable (a tiny fraction of the carbon emissions of flying) way to get across France, straight from the centre of Nice into the centre of Paris. Flying would be quicker, but travelling by train is less stressful and the time goes by quickly. Our rating out of five ★★★★★
