Tui: Share price crashes 9.4 per cent over travel giant’s plan to raise £1.6bn for Covid loan repayment March 24, 2023 Shares in Tui today plummeted by more than 9.4 per cent after the travel company announced plans to raise €1.8bn (£1.6bn) to repay loans given to it by the German government during Covid-19. Tui, the world’s largest travel company, today set out plans to sell 328,910,448 new shares, at a 29.85 per cent discount of [...]
Ford admits it’s losing billions as heavy investment in electric puts brakes on profit March 23, 2023 Ford’s electric vehicle business has lost three billion US dollars (£2.44 billion) before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released on Thursday as Ford rolled out a new way of reporting financial results. The new [...]
10 construction firms fined £60m for ‘illegally colluding’ to rig contracts including for Selfridges and 135 Bishopsgate March 23, 2023 The UK competition watchdog has fined 10 construction firms a total of almost £60 million for “illegally colluding” to rig bids for contracts. The construction firms have been punished over cartel agreements related to 19 contracts worth over £150 million on both public and private sector contracts. The Competition and Markets Authority (CMA) said the [...]
37 per cent of flights delayed last year – but London’s Heathrow, Gatwick and Luton airports not worst offenders March 22, 2023 More than a third of flights to and from UK airports last year were delayed, new figures show. The Civil Aviation Authority (CAA) said an “unacceptable” 37 per cent of flights were at least 15 minutes late in 2022. That is up from 17 per cent in both of the preceding two years and 25 [...]
UK taxpayers face a £56bn bill if sewage and water systems are to be fixed, House of Lords committee warns March 22, 2023 It will potentially cost £56bn over multiple decades to update the UK’s creaking and outdated water and sewerage systems.
Gold worth £4m seized from drug cartels by National Crime Agency at London Heathrow March 21, 2023 Around £4 million of gold has been seized from South American drug cartels. The National Crime Agency (NCA) reclaimed 104kg of gold bars, some in the shape of hearts, after they were found hidden in the cargo section of a plane at Heathrow Airport in June 2019. The plane had arrived from the Cayman Islands [...]
On the right track? Beleaguered train operator Avanti gets contract extension March 20, 2023 Train operator Avanti West Coast has been handed a short-term contract extension by the Department for Transport (DfT), the FirstGroup-owned company said. The operator has struggled with reliability and punctuality during parts of the past year. Its contract was due to expire at the end of March but has been extended until October 15. FirstGroup [...]
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Looking east: Which low-cost European destinations are Brits flocking to in search of a cheap getaway? March 18, 2023 Strong demand for low-cost eastern European destinations is driving a surge in the number of UK families booking city breaks, according to an online holiday company. Thomas Cook said family city break bookings so far this year are around 40 per cent higher compared with the same period in 2022. This is partly due to [...]
Elizabeth Line usage soars by 41 per cent as London commuters get around tube and rail strikes March 17, 2023 One in six journeys on Britain’s transport network have been made on the new Elizabeth line, with 62m taken on London’s newest railway between October and December 2022. Out of almost 370m rail passenger journeys across the UK, Crossrail accounted for 41 per cent, according to new figures released by the Office for Rail and [...]