Exclusive: Uber joins CBI exodus April 23, 2023 Uber is pausing its engagement with the CBI, City A.M. has learnt. The ride-hailing tech firm is the latest in a string of companies who have either ditched the organisation or suspended their engagement in the last few days, following reports of sexual misconduct by senior CBI members. Uber’s decision will be yet another blow [...]
Inflation drives record rise in car insurance premiums – with Londoners worst hit April 20, 2023 Soaring inflation has led to a record 20 per cent jump in UK car insurance premiums – the sharpest rise in a decade. Drivers are now paying on average £107 more for their car insurance than they were this time last year, according to the latest results from Confused.com’s Car Insurance Price Index. London motorists [...]
London Waterloo: Century-old roof to go glass at capital’s busiest station in two year refurb project April 20, 2023 The century-old roof of the UK’s busiest railway station is being renovated to create a brighter environment for passengers. Network Rail said it has started a two-year project to refurbish London Waterloo’s roof, which was built in 1922. Around 10,000 new glazed panels will be installed across 12,000 square metres of roof – an area nearly twice [...]
WH Smith: Resurgent global travel boosts airport giant’s profits – and it’s committed to the high street too April 20, 2023 WH Smith has benefited significantly from the return of global air travel with a big boost in profit on last year. The popular high street newsagent reported £45m in pre-tax profits, up from £18m last year, as millions came through airports where Smiths has many outlets. In the six months to February 2023, it announced [...]
Jet2 having a ‘Goldilocks’ moment as travel group hikes its profit expectations April 20, 2023 Leisure travel company Jet2 has raised its profit expectations to between £387m and £392m this morning, for the year ending 31 March 2023. The company has reported sale seat capacity for Summer 2023 as 7.2 per cent higher than the previous year, at 15.26 million. Forward bookings remain encouraging, with package holiday customers representing just [...]
Experts fear UK will be left behind in lucrative race to develop self-driving cars April 20, 2023 Developers of self-driving technology have warned that the UK risks losing its ability to compete in the AV market, due to delays in regulation . “Flip-flopping” on legislation will prove highly detrimental for attracting investors, Dr Sarah Gates, Director of Public Policy at AV developer Wayve, told City AM. According to Gates, it has reached [...]
Is HS2 a ‘rail to nowhere’? MPs quiz Harper on viability of delayed £1.2bn Euston project April 19, 2023 In a committee hearing this morning, transport secretary Mark Harper admitted that HS2’s Euston developments were “significantly” greater than the initial budget allocated. His comments followed confirmation that the £1.2bn tunnel from Old Oak Common would be paused until 2024. Harper faced an array of strong questions relating to Euston’s Old Oak Common section of [...]
London rent averages over £900 a month as desperate renters battle over fewer properties April 19, 2023 Private renters in London are faced with the highest costs since 2012 as a sparse and competitive market send the cost of homes in the capital to new highs. Landlords in the capital increased rent by 4.8 per cent in the 12 months to March 2023, up from an increase of 4.6 per cent in [...]
Heathrow to appeal against CAA price cap as airport warns passengers will bear the brunt of ‘underinvestment’ April 19, 2023 Heathrow Airport has said it will launch an appeal against the Civil Aviation Authority’s (CAA) decision on how much it can charge passengers until December 2026. The Competition and Markets Authority will review the airport’s grounds for appeal and decide if any can proceed. Last month the UK Civil Aviation Authority (CAA) confirmed that the cap [...]
Rail strikes boost National Express revenues as coach operator bolsters electric fleet April 19, 2023 National Express has seen UK coach revenue rise by 87 per cent on the previous year, as rail strikes see passengers opt for alternative transport. Passenger growth at National Express also rose despite the six-day bus driver strike and a higher-than-expected pay settlement of 16.2% per cent in February. Reflecting strong financial performance, National Express [...]