Tui reduces loss to £135m but warns of threat posed by soaring fuel prices and cost-of-living crisis February 14, 2023 Travel firm Tui has posted a €153m (£135m) loss for the final three months of 2022 as the German company warned of potentially tougher times to come. The Hanover-based firm said the cost-of-living crisis could see demand for its holidays to fall as cash-strapped Europeans cancel trips abroad. Tui warned that the war in Ukraine [...]
Ford to cut 1,300 UK jobs in major overhaul of European operations to refocus on EVs February 14, 2023 Ford has announced it will be scrapping 3,800 jobs across Europe, including 1,300 in the UK, over the next three years amid plans to reinvent the brand and focus on a smaller range of electric vehicles. The global carmaker said 2,800 engineering roles will be axed by 2025, and around 1,000 jobs in its administrative, marketing, [...]
Chancery Lane to be closed off to cars for 18 months as Square Mile experiments with pedestrian only route February 13, 2023 Chancery Lane will be closed off to cars for the next 18 months as the City of London experiments with a scheme to support pedestrians more. Sandwiched between Holborn and Fleet Street, the Square Mile’s historic road will have no access for cars after 20 February. For 18 months, traffic restrictions will apply from 7am [...]
Battle of package holiday makers: Jet2holidays overtakes Tui as top tour operator for first time February 13, 2023 Jet2holidays has overtaken Tui to become the UK’s largest tour operator for the first time. Data published by the Civil Aviation Authority shows Jet2holidays is licensed to provide package holidays to 5.9 million people in the year to the end of September. That is compared with 5.3 million for Tui. Jet2holidays will operate its largest summer programme this [...]
London bus strike resolved as Unite accepts Abellio’s ‘greatly improved’ pay increase February 13, 2023 A long running dispute involving more than 1,800 bus drivers in London has ended after the workers accepted a “greatly improved” pay offer. Members of Unite employed by Abellio have staged a series of strikes in recent months. They have accepted a pay increase that Unite said will see drivers with over two years’ service [...]
Share price plunges for delivery firm DX Group after confirmation of legal claim by rival February 13, 2023 Courier firm DX Group has seen its shares plunge after confirming that a legal claim has been lodged against it by a rival logistics company, accusing it of alleged corporate espionage. Shares in DX tumbled as much as 11 per cent on Monday morning after it said that Tuffnells Parcels Express submitted the claim in [...]
London Heathrow back to its best? 5.4m passengers passed through in January as satisfaction soars February 13, 2023 More than 5.4m people travelled through London’s Heathrow airport this January, marking the busiest start to the year since 2020. Sharp upticks in travelers from Europe, North America, and the Asia Pacific region bolstered the London airport’s passenger figures to heights last seen before Covid-19, Heathrow said. The airport also saw customer satisfaction return to [...]
Union rejects ‘dreadful’ pay deal as Lynch promises to prolong strike misery February 11, 2023 The biggest rail workers’ union has rejected what the Transport Secretary has described as the “best and final offers” aimed at resolving the long-running disputes over pay, jobs and conditions. Mark Harper described the move by the Rail, Maritime and Transport union (RMT) to reject the proposals from Network Rail and the train operating companies [...]
More strikes coming? Rail union RMT rejects ‘dreadful’ new offer from Network Rail and train firms February 10, 2023 The biggest rail workers’ union has rejected the latest offers from Network Rail and the train operating companies aimed at resolving the long-running disputes over pay, jobs and conditions. The Rail, Maritime and Transport union (RMT) said that following a wide-ranging consultation with every level of the union involved in the national rail dispute, its [...]
Lyft loses ground on Uber: Share price falls 30 per cent after profit down £100m on forecast February 10, 2023 Lyft is trailing behind competitor Uber as disappointing forecasts have caused investors to lose confidence. Shares in the ride-hailing company dropped more than 30 per cent this week after it reported lower than expected first quarter profit forecasts of $975m (£805m). Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data. Lyft [...]