Business travel is back and ‘buoyant’, new data shows June 28, 2023 Business travel is back and “buoyant”, according to new data from the Advantage Travel Partnerships’ Global Business Travel Review, with the business community booking more trips and for longer periods. Booking volumes in the UK’s business travel market, covering aviation, rail and accommodation, hit 90.8 per cent of pre-pandemic levels in the first quarter of [...]
Ads watchdog slams car firms for exaggerating ‘ultra-fast’ EV charging June 28, 2023 Ads for Hyundai and Toyota electric cars have been banned for exaggerating the speed of recharging and failing to mention the limited availability of the fastest chargers across the road network. Three ads for Hyundai’s IONIQ 5, seen in January last year, all stated that the car could be charged from 10% to 80% in 18 minutes using a [...]
BAE Systems and Babcock set to meet with ministers over ESG investment concerns June 27, 2023 Ministers are set to hold talks on Wednesday with the bosses of a number of major defence companies, over concerns that socially conscious investing is hurting the sector. Andrew Griffith, the economic secretary to the Treasury and James Cartlidge, defence procurement minister, will meet bosses from BAE systems, Babcock International and QinitiQ tomorrow, Sky News [...]
Aston Martin aims to quadruple profit within five years under new strategy June 27, 2023 Aston Martin outlined plans today to double revenues and quadruple profits within the next five years, as the firm bolsters its electrification strategy and continues to ride the wave of a recent share price surge. At its capital markets day, the marque told shareholders it would aim for revenues of £2.5bn and EBITDA of £800m [...]
London Overground ties up two year extension with train operator Arriva June 27, 2023 London Overground will be operated by Arriva for another two years, as its seven-and-a-half year contract was extended this morning. The train operator has run the capital’s transport network since 2016, with it now set to continue until May 2026. It was not made clear how much the extension is worth. This comes as the UK’s [...]
Number of Brits looking to buy electric vehicles soaring ‘well ahead’ of demand for combustion engine, analysis shows June 27, 2023 The number of prospective UK car buyers looking to go electric is soaring despite only a “minimal” increase in those wishing to purchase traditional combustion engine vehicles, new research from the consultancy EY has revealed, as the number of Brits seeking normal vehicles slips well behind its charged-up competition. As of this year, more than [...]
Government ditches plans to give flyers compensation for delays June 27, 2023 Proposals that would have entitled passengers to claim compensation for delayed flights have been scrapped from initial consumer protection reforms, the government has confirmed. The proposals would have enabled passengers to claim compensation on domestic flights that arrived over an hour late. But the Department for Transport (DfT) confirmed today that it would need to [...]
Logistics group Shift on the hunt for more deals amid Tuffnells swoop June 26, 2023 Logistics-tech group Shift, which is making a swoop for delivery firm Tuffnells, has said it is eyeing up further acquisitions in the near future, with multiple deals on the horizon. Shift’s founder Jacob Corlett told City A.M. that “we’ve got multiple deals in the pipeline”. “We’re in discussions with different parties of different shapes and [...]
Aston Martin in £182m partnership with start-up to make ‘ultra-luxury’ EVs as it reworks Mercedes deal June 26, 2023 Aston Martin has announced a deal with US EV manufacturer Lucid Group to build ‘ultra-luxury’ electric vehicles, as it ditches elements of a previous 2020 agreement with Mercedez Benz. The Gaydon-headquartered firm said that it would issue £182m worth of shares and cash payments, in exchange for electric batteries and powertrain components, with US-start up Lucid [...]
Fast-growing logistics outfit Shift to pick up pieces of Tuffnells June 25, 2023 An up and coming logistics firm is understood to have snapped up pieces of delivery giant Tuffnells Parcel Express, following its collapse earlier this month placing 2,000 jobs at risk. Shift, which was launched five years ago by 29 year old Jacob Corlett has acquired the brand and intellectual property of the British delivery service, [...]