Wizz Air to report heavy losses after fuel price spike – but is a recovery on the horizon? June 4, 2023 Analysts expect Wizz Air to report a net loss of nearly half a billion pounds this week as soaring jet fuel costs weigh the budget airline down. Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said while a strengthening Euro offered some relief to rising fuel costs, “these still rose by north of 60 per cent [...]
London Euston and Paddington deserted as 12,000 strike on FA Cup Final and Epsom Derby day June 3, 2023 Two of the busiest train stations in London were almost empty on Saturday morning as train strikes continue into their second day. Around 12,000 members of the drivers’ union Aslef and the Rail, Maritime and Train (RMT) union are on strike over pay and working conditions, affecting 15 train companies. Platforms at Euston Station in [...]
World’s joint-biggest cargo ship leaves UK after first visit June 2, 2023 The world’s joint-largest cargo ship has set sail from the UK after its first visit. The 1,300ft (400-metre) MSC Loreto vessel is capable of holding 24,346 standard containers, which is currently the record number. It shares this title with its sister vessel, the MSC Irina. MSC Loreto arrived at the Port of Felixstowe in Suffolk, [...]
Strikes by RMT members continue today causing travel disruption June 2, 2023 Strikes by railway workers continued on Friday, causing fresh travel disruption for passengers. Members of the Rail, Maritime and Transport (RMT) union employed by train operators across England walked out in a long-running dispute over jobs, pay and conditions. Train services were disrupted by the action, which comes almost a year after the RMT held [...]
British Airways vows to challenge near £1m fine by US govt over refunds for cancelled pandemic flights June 2, 2023 British Airways has been fined almost £1 million by the US government over claims it failed to pay refunds for cancelled flights. The US Transportation Department said in a legal document the airline did not “provide timely refunds to passengers” for abandoned or rescheduled flights to and from the country during the coronavirus pandemic. British [...]
Car industry: Throwing money at the issue won’t solve UK’s post Brexit problems, think tank warns June 2, 2023 The UK must not enter a subsidy race with the US and EU to save its auto industry from problems such as a flagging electric vehicle (EV) segment and a post-Brexit drop in investment, an influential Tory think tank has warned. A new report from the centre-right Policy Exchange argues that targeted government subsidies will [...]
ULEZ: Khan expands vehicle scrappage grants to help London businesses cope June 1, 2023 Sadiq Khan will extend grants to small businesses so they can replace vehicles which don’t meet emissions standards, ahead of August’s expansion of the controversial ULEZ scheme. The London mayor intends to expand the £110m ‘scrappage scheme’ from the end of July, with “tens of thousands more Londoners” to benefit as the Ultra Low Emissions [...]
Auto Trader still motoring despite ‘fly in the ointment’ Autorama losses June 1, 2023 Auto Trader saw group operating profits dip 9 per cent this morning, down from £303.6m to £277.6m in its full year results, but saw a spike in sales of 16 per cent on the back of strong demand. The car trader saw revenues up 9 per cent, and said it had resisted a tough economic [...]
Supermarkets scramble to cut diesel pump prices amid watchdog probe June 1, 2023 Supermarkets are rushing to cut the cost of diesel after the Competition and Markets Authority (CMA) announced a probe into whether a “failure in competition” between supermarkets is leaving Brits paying more than they should be at the pumps. According to RAC analysis, major retailers have “quickened the pace” of diesel cuts, with the average [...]
Government must ‘urgently reform’ road taxes to avoid £10bn shortfall created by EV transition, says think tank June 1, 2023 The government must “urgently reform” its road taxes in order to avoid a multi-billion pound revenue shortfall created by the EV transition, says a new think tank report. According to research from the Resolution Foundation, lower taxation of EVs, particularly the absence of a fuel duty, will create a growing £10bn “fiscal hole,” within the [...]