UK motor insurers to make largest annual loss in a decade due to inflation November 25, 2022 The UK motor insurance sector is set to make the largest annual loss in over a decade as a result of inflationary pressures. Analysis published today by EY has forecast that net combined ratios will reach 115 per cent this year – the worst year since 2010 – going down slightly to 114 per cent [...]
Mick Lynch: Strikes are STILL going ahead despite ‘positive meeting’ with Transport sec November 24, 2022 Rail union boss Mick Lynch has said the upcoming strikes will go ahead despite a “positive meeting” with transport secretary Mark Harper. “We won’t be any closer [to calling off the strikes] until we have a reasonable offer on the table that we can put to our members,” Lynch told journalists on Thursday following his [...]
Jet2 recovers from covid and summer travel chaos with 730 per cent revenue boom November 24, 2022 Low cost leisure airline Jet2 had a whopping 730 per cent rise in revenue and booming profits of more than £350m as Brits flock on holiday post-pandemic. The listed firm announced strong half-year results up until the end of September, with profit before foreign exchange valuation up to £505m, following a £195m loss in 2021. [...]
Rules on liquids aboard flights to be scrapped by mid-2024 – reports November 23, 2022 Restrictions on liquids aboard flights are set to be scrapped by mid-2024, as newer security scanners are increasingly being rolled out. The UK Government has urged major airports across Britain to have the more advanced CT scanners installed by the summer of 2024, the Times first reported. Officials told the outlet that ministers have been [...]
Mick Lynch to meet with Mark Harper as new strikes sour festive period November 23, 2022 RMT’s boss Mick Lynch is set to meet with transport secretary Mark Harper tomorrow as the rail strikes announced yesterday are set to disrupt the festive period. The union announced on Tuesday that more than 40,000 of its members working at Network Rail and 14 other train operators will walk out throughout December and January [...]
F1 testing provider AB Dynamics ‘not impacted’ by UK financial turmoil November 23, 2022 The UK’s current financial turmoil will not impact automotive testing system provider AB Dynamics, its chief executive James Routh said. “The UK is typically about 2 per cent of our revenue, so the turmoil doesn’t really bother us too much,” Routh told City A.M. on Wednesday. “Only when it comes to dealing with local inflation [...]
Fresh cash will save 53 bus routes as Sadiq Khan warns ‘tough decisions needed elsewhere’ November 23, 2022 Over 50 London bus routes were saved today after London mayor Sadiq Khan announced a £25m worth of annual funding. The extra cash will be used to prevent 53 routes from being withdrawn following concerns from thousands of Londoners. The £25m per year will be in addition to a £500m facility set up by City [...]
London City takes crown as UK’s best airport for security waiting time November 23, 2022 London City has taken the crown as the UK’s best airport for security waiting times, according to new research. A survey published today by consumer champion Which? showed that the Newham airport had an average queuing time at security of 12 minutes – well below fellow London airports such as Gatwick or Heathrow. With an [...]
Hospitality warns of nightmare before and after Christmas as new rail strikes announced November 22, 2022 London’s hospitality venues are headed for a catastrophic Christmas after a fresh slew of railway strike dates were announced today. The RMT declared that its 40,000 members will walk out throughout December and January, falling slap bang in the middle of the sector’s busiest trading period. Strike action will take place at Network Rail and [...]
Fresh rail strikes in December and January to disrupt festive period November 22, 2022 Britons can expect a disrupted festive period as railway union RMT announced today a few 48-hour strikes across December and January following a breakdown in industrial relations. More than 40,000 members working at Network Rail and 14 other train operating companies will walk out on 13, 14, 16, 17 December as well as 3, 4, [...]