Ryanair and Wizz Air passenger numbers highlight aviation’s journey back to normality October 4, 2021 After a turbulent 2020, Ryanair and Wizz Air appear set for smoother skies with passenger numbers on the up. Both firms reported increase in passenger traffic in September 2021 compared to last year. According to passenger traffic data published on the London Stock Exchange, Ryanair’s passenger numbers increased to 10.6m compared to 5.2m recorded in [...]
Petrofac fined £77m for string of Middle Eastern bribery charges October 4, 2021 Petrofac has been fined £77m for seven separate charges of failing to prevent bribery in the Middle East, to which the London-listed oil services provider plead guilty last month. The penalty, for failing to prevent former Petrofac employees from offering or making payments to agents in relation to projects awarded between 2012 and 2015, is [...]
McDonald’s pledges to achieve net zero emissions for all UK restaurants by 2030 October 4, 2021 McDonald’s has set out its strategy to help its operations in the UK and Ireland achieve net zero carbon emissions by 2040. The fast food chain has pledged to achieve net zero carbon emissions across its global operations by 2050. The chain will aim to achieve net zero emissions for all its restaurants and offices [...]
Investors inject £3bn into central London offices in third quarter October 4, 2021 Investor interest in central London office buildings has returned with a vengeance, with spend surpassing pre-pandemic levels. Around £1.5bn was spent on City office buildings in the three months to September 30, according to preliminary data from real estate advisors JLL, compiled for the Evening Standard. It comes as office workers have made their return [...]
Evergrande to sell property unit to another Chinese developer October 4, 2021 Heavily indebted Chinese property giant Evergrande is selling off a chunk of its business to raise crucial funds as further bond interest payments this month loom. According to Chinese state media, Evergrande will raise $5.1bn by selling off a majority stake in its property service unit to Hopson, another Chinese real estate developer. Before the [...]
Global Britain: UK-based HGV driver ads snubbed by EU-applicants October 4, 2021 While the government’s temporary visas for overseas HGV drivers may loosen the choking impacts of the shortage on UK supply chains, there are few truckers coming in from the EU, according to new research. The HGV driver shortage, which triggered both a fuel crisis and pushed a third of mid-size firms to shrink their offering, [...]
Issa brothers’ EG Group acquires UK’s second-largest bakery business October 4, 2021 Petrol station forecourt giant EG Group has acquired the country’s second-largest bakery business, Cooplands The Issa brothers’ firm has acquired CS Food Group Holdings Limited, which operates a number of bakeries that produce and distribute fresh food to some 180 stores and cafes. The bakery business mostly operates across the north-east and Yorkshire regions and [...]
Plus500 to smash forecasts as retail trading continues to boom October 4, 2021 Booming retail trading volumes prompted trading platform Plus500 to raise its income and profits forecast ahead of analysts’ expectations for the year today. In a trading update, the London listed platform said revenues and earnings will come in far ahead of forecasts after “further positive momentum” in the third quarter of this year. An uptick [...]
Conservative conference: Rishi Sunak declares the ‘future is here’ October 4, 2021 Rishi Sunak has declared the “future is here” in his party conference speech as he vowed to bring the UK’s economy into the 21st century. The chancellor said “I want tax cuts”, but that first “public finances must be put back on a sustainable footing”. It comes after the government recently increased National Insurance Contributions [...]
French Connection sold to consortium led by second-largest shareholder October 4, 2021 Clothing brand French Connection has been sold to a consortium including its second-largest shareholder in a deal valuing it at £29m. The firm – which operates 150 stores and concessions across the world – has accepted a 30p-per-share offer, after struggling with years of losses. It represented a 30 per cent premium to the share [...]