Musk relaunches Tesla flagship model at lower price as supply chain backlog lifts May 3, 2023 Tesla Inc has resumed taking orders for its Model 3 long-range version in the United States, the company’s website showed late on Tuesday, after a temporary halt last year due to delivery backlogs. The long-range version of the entry-level Model 3 is priced at $47,240 currently, about 18.5% less than the $57,990 it was priced at [...]
Liverpool Street upgrade down the track? Designers behind Tate Modern plan £1.5bn revamp May 2, 2023 Network Rail, MTR and Sellar have applied for permission to redevelop Liverpool Street station in its first upgrade since 1991. The plans announced last month would see £450m is earmarked for station improvements as part of a £1.5bn proposal to transform the surrounding area. This week the Liverpool Street redevelopment plans were submitted under a [...]
Jet-setting Brits ready for summer but it’s oil prices that could really take off May 2, 2023 Resurgent demand in the world’s most developed economies could prove to be a major tailwind for oil prices.
IAG: Is this the week that British Airways owner’s share price takes off? May 1, 2023 The aviation industry will be looking ahead to British Airways owner IAG’s quarterly results this week, as the airline conglomerate looks to close in on pre-pandemic profits. Analysts at HSBC expect IAG to report this Friday that capacity sits at 96 per cent compared to pre-Covid levels in 2019. The group has been eyeing a [...]
UK car production accelerates as semiconductor shortage is ‘all but over’ April 28, 2023 UK car production rose six per cent in the first three months of 2023 thanks to the easing of semiconductor shortages, though concerns remain as production continues to lag pre-pandemic levels. According to figures from the Society of Motor Manufacturers and Traders (SMMT), production rose to 219,887 units, with factories producing 12,540 units more than [...]
Cazoo drives towards profitability after year of chaos April 27, 2023 Cazoo, the online car retailer, reported a boom in gross profit, increasing from £3 million to £14 million in the first three months of 2023, following a year of instability. The London-headquartered, but New York-listed, firm, however, reported an 11 percent dip in revenues, down to £247 million. But markets reacted well to the firm’s [...]
FA Cup Final hit with fresh rail strike as Manchester fans face disruption getting to London April 27, 2023 The FA Cup Final and Eurovision Song Contest will be disrupted as ASLEF train drivers’ union today announced a series of 24-hour strikes. The 24-hour strikes will take place on Friday 12 May, Wednesday 31 May, and Saturday 3 June, which coincide with FA cup final between Manchester United and City, the last of the [...]
Minimum service law will lead to wildcat strikes, RMT boss Mick Lynch warns April 26, 2023 RMT General Secretary Mick Lynch told MPs today that proposed legislation for enforcing minimum service levels for some services and sectors when strike action is taking place would result in workers walking out without trade unions’ authorisation. “If we can’t use traditional industrial action, there will be novel forms of action, and there will be [...]
Boeing plans to ramp up 737 Max production after significant delays April 26, 2023 US plane-maker Boeing today announced plans to ramp up production of its 737 Max planes after manufacturing issues led to significant delivery delays. There had been major concerns that the manufacturer would not be able to meet its annual target of making at least 400 737 planes, but the firm said today that now hopes [...]
Heathrow narrows losses, but claims hit from strikes and CAA price-cap April 26, 2023 Heathrow Airport narrowed its losses this quarter, but said results were impacted by the CAA’s price cap, as well as ongoing strike action. The airport posted adjusted pre-tax losses of £139m, down from £223m the previous year, writing that this was due to the “the revenue allowance in the CAA’s H7 settlement being set too [...]