Bombardier, the world’s top maker of train equipment, ousted chief executive officer Paul Tellier after the company’s market value dropped by two-thirds since he was hired two years ago.

Canadian aerospace and transport group Bombardier said yesterday that it would axe 1,362 jobs at its British train making business, closing three plants in the UK.

The sale of Belfast City Airport by its cash-strapped Canadian owner was expected to be announced today.

The sale of Belfast City Airport by its cash-strapped Canadian owner was poised to be announced tonight.