Train drivers’ union calls off Overground strike on 26 November November 17, 2022 Train drivers’ union Aslef has called off its planned strike action on 26 November following a breakthrough in negotiations. Union leaders said they received an offer from operator Arriva Rail London and put it to members, who will decided whether to take it. “Members at London Overground will now have the opportunity to consider and [...]
Volkswagen in doubt over construction of £1.7bn German electric car factory November 17, 2022 Volkswagen’s plans to build a €2bn (£1.7bn) electric vehicle factory in Germany are in doubt, according to recent reports. People close to the matter told Reuters that chief executive Oliver Blume was currently reviewing the plans, as doubts were cast on whether a new electric vehicle (EV) factory was needed after all. According to sources, [...]
Half of Londoners against Sadiq Khan’s expansion of ULEZ as Mayor slams ‘misleading’ poll November 17, 2022 More than half of Londoners are against the mayor expanding the ULEZ (Ultra Low Emissions Zone) next August, according to a new poll out today. YouGov figures, commissioned by the Conservatives in City Hall, claim that 51 per cent of respondents don’t think the ULEZ should be expanded to encompass most of Greater London. Numbers [...]
Flown to the USA: BA to launch new Heathrow route to Cincinnati from June November 16, 2022 British Airways has expanded its presence in the US market and announced it will launch a new route to Cincinnati from June. The carrier said weekly flights – five a week during the summer and four during the winter – will operate between Heathrow and Cincinnati Northern Kentucky International Airport, connecting the UK to the [...]
Exclusive: £18bn bill to upgrade to London’s energy inefficient homes November 16, 2022 Upgrading London’s leaky homes will come with a price tag of a mere £18bn, amid industry and consumer calls to improve the energy efficiency of the UK’s housing stock. More than 2m homes in the capital have an energy performance certificate (EPC) rating of D or below, meaning that it will cost just over £18.5bn [...]
Musk defends $56bn Tesla pay package saying he was focusing on the company’s execution November 16, 2022 Elon Musk took the stand to defend his $56bn (£47.7m) Tesla pay package from 2018, saying the EV maker was his sole focus at the time. “I was entirely focused on the execution of the company,” he told a US tribunal on Wednesday. Musk was taken to court by a company shareholder who accused the [...]
Air France-KLM’s shares plummet as £260m+ bond issuance takes off November 16, 2022 The shares of Air France-KLM have sunk as low as 12 per cent after the carrier issued €300m (£262.5m) worth of bonds convertible into shares. Air France-KLM said the move would help it strengthen its capital and pay back the financial aid it received from the French government to stay afloat during the pandemic. Funding [...]
Going cold: Mercedes follows in Tesla’s footsteps and cuts EV prices in China November 16, 2022 Mercedes has followed in Tesla’s footsteps and cut the price of its electric vehicle (EV) models in China due to a slowing demand. The luxury car maker announced late on Tuesday the price of the EQE electric SUV would be cut by 9 per cent while the EQS model would be between 11 and 22 [...]
TfL looks for bidders to take over £800m fare system contract November 16, 2022 TfL has launched a procurement process for the maintenance and operation of its fare system. Worth more than £800m, the seven-year agreement will start in August 2026 after the current contract, signed in 2014 by IT service manager Cubic Transportation Systems, expires. The new contract could be extended by a further five years, for a [...]
Oil firms dish out dividends as energy crisis sends profits soaring November 16, 2022 Oil firms have been dishing out bumper sums to shareholders as a crisis in the energy sector drives profits to record levels, according to research released today.