Rolls-Royce share price slips despite upbeat new CEO update May 11, 2023 British engine maker Rolls-Royce said it performed as expected in the first part of the year, with flying hours recovering, and steps taken by its new CEO to find savings putting it on track to meet 2023 targets. Despite the solid if unspectacular update, shares slipped 2 per cent in early trading. Tufan Erginbilgic, who [...]
Heathrow: London airport lands Coronation boost with 6.4m flyers – and 90 per cent get through security in 10 mins May 11, 2023 Heathrow Airport reported 6.4 million passengers over April, a month which included travellers flocking to the UK for King Charles’ coronation, as well as continued strike action. The West London hub said that there were indications passenger growth may be levelling off after the post-pandemic rebound, with recovery now stable at between 93-95 per cent [...]
TransPennine Express to be nationalised after months of disruption – but transport sec warns it’s ‘not a silver bullet’ May 11, 2023 Train services run by TransPennine Express will be nationalised after months of delays and cancellations. Transport Secretary Mark Harper announced the decision to bring the operator’s services under Government control, but warned it is “not a silver bullet”. Graham Sutherland, chief executive of TransPennine Express owner FirstGroup, said the company has “worked extremely hard to [...]
Vodafone: New chief embarks on Emirati E& partnership, with board seats up for grabs May 11, 2023 Vodafone has announced a strategic relationship with e& – the Emirati telecommunications firm which currently holds 14.6 per cent of its shares. In the deal, E&’s chief executive will join the board and there are provisions included for another member its team team to take a seat should the Emirati firm’s shareholding go above 20 [...]
Hapag-Lloyd sees profits dive as shipping slump continues May 11, 2023 Shipping group Hapag-Lloyd has reported a €2.2bn (£1.91bn) tumble in profit, as the end of the post-pandemic shipping boom continues to hit the freight sector. Revenues dived 29 per cent over the quarter to €5.6bn, while pre-tax earnings fell 53.1 per cent to €2.2bn (£1.91bn) in the first quarter. Hapag-Lloyd said a combination of low [...]
Elizabeth line sees hybrid workers flock back to the office May 11, 2023 London’s popular Elizabeth Line has prompted a surge in workers heading into the office, new research released on the eve of its one year anniversary shows. Footfall data from the workspace operator IWG has today revealed a 23 per cent increase in the number of visits, to offices across nine Elizabeth Line stops, since the [...]
Uber launches new flight-booking feature as it doubles down on growth May 10, 2023 Uber has launched a new feature that allows customers to book flights using the app, as the company looks to expand modes of travel for users. The ride-hailing giant today rolled out the new booking tool for domestic and international flights in partnership with the online travel agent Hopper. Andrew Brem, General Manager at Uber [...]
Used car market accelerates as consumers opt for cheap vehicles amid rising bills May 10, 2023 The UK’s used car market saw its biggest quarter of growth since 2020 today, as consumers opt for cheap motors amid higher bills and the sector benefits from the knock-on effects of the semi-conductor shortage ease. The figures, published by the Society of Motor Manufacturers and Traders (SMMT), showed that the UK market for second-hand [...]
Toyota eyes EV sales boom in China as firm helped by easing supply chain issues May 10, 2023 Toyota Motor Corp on Wednesday said it expects operating profit to climb 10 per cent this business year, with a five-fold jump in pure electric vehicle (EV) sales amid an easing in global supply chain disruption from a shortage of chips. The growth plan was unveiled by new CEO Koji Sato, installed last month, and [...]
Government permits ‘long lorries’ on British roads – but are they safe? May 10, 2023 The Department for Transport (DfT) has today announced legislation permitting ‘long lorries’ to be rolled out on UK roads, estimating a £1.4bn boost to the economy as a result. The new laws will allow longer semi-trailers (LSTs) of up to 18.55 metres on British roads, over two metres more than the standard size, from 31 [...]