Wizz Air CEO gets huge bonus despite tumbling shares and profit June 25, 2025 The chief executive of Wizz Air saw his pay take off despite the airline’s profit tumbling during its latest financial year. Jozsef Varadi took home a pay packet of €3.8m (£3.2m) for the Hungarian low-cost airline’s year to 31 March, 2025, according to its annual report. The CEO’s remuneration was boosted from the €1.3m he [...]
HS2: Transport secretary confirms two-year delay after ‘shambolic mess’ June 18, 2025 Transport secretary Heidi Alexander has confirmed that HS2 will be delayed by at least two years, slamming previous handling of the project as an “appalling” and “shambolic mess”. The embattled high-speed rail link will be pushed back beyond 2033 following a “litany of failures” outlined in two reports by HS2 boss Mark Wild and KPMG’s [...]
Toyota braced for motor finance pay out as ruling nears June 18, 2025 Toyota has set aside millions in case the Supreme Court rules the company and the wider industry should pay customers compensation when it delivers its verdict on the motor finance saga in the coming weeks. The UK-based financial services arm of the car giant has earmarked the funds to shore itself up in the eventually [...]
British Steel secures £500m contract with Network Rail June 17, 2025 British Steel has won a £500m contract with Network Rail in a deal that helps secure the future of its Scunthorpe steelworks. The agreement will see British Steel supply up to 80,000 tonnes of rail per year to the body which manages the UK’s railway infrastructure, around 80 per cent of the track it needs. [...]
Car crash interview: City minister trips up over £10bn infrastructure project June 16, 2025 City minister Emma Reynolds was flummoxed by a series of questions about the government’s recent infrastructure announcements in a variously tense and cringe-inducing interview on LBC on Monday morning. Just seconds into the exchange with Nick Ferrari, Reynolds misspoke and called the Dartford Tunnel – in Kent – the Dartmouth Tunnel – in Devon – [...]
Motorway CEO: How I built my $1bn empire after a huge failure June 16, 2025 The co-founder and chief executive of used car marketplace Motorway has opened up about how he helped to build a $1bn empire from scratch following the biggest failure of his career. On an up-coming episode of City AM’s Boardroom Uncovered show, Tom Leathes also revealed how he and his fellow founders landed on the car [...]
Reeves to lay out 10-year infrastructure plan worth £725bn June 15, 2025 Chancellor Reeves is set to deliver a 10-year infrastructure strategy plan which will lay out efforts to boost growth and upgrade services across the UK. The new blueprint for UK infrastructure will come around a week after Reeves delivered the Spending Review, which marked out £190bn in extra government spending commitments for the years between [...]
More than 240 killed after Air India flight to London Gatwick crashes June 12, 2025 More than 240 people were killed after an Air India flight bound for London crashed near Ahmedabad in north west India on Thursday. The flight, a Boeing 787-8 Dreamliner, was carrying 230 passengers and 12 crew members to London Gatwick Airport. One passenger, a British national in seat 11A, miraculously survived. It is the worst [...]
TfL gets £2bn – but no timetable for Bakerloo Line and DLR extension June 11, 2025 Transport for London (TfL) has welcomed a £2bn four-year funding settlement from the government as part of the long-awaited Spending Review. London’s transport operator had been pushing for a multi-year capital funding agreement similar to those at Network Rail and National Highways for years. The government said it is the largest settlement in over a [...]
Spending Review: Colossal £25bn for HS2 eclipses other transport pledges June 11, 2025 HS2’s colossal funding package eclipses all other railway investment pledges that Chancellor Rachel Reeves announced in her Spending Review. Reeves pledged £3.5bn investment into the Transpennine route upgrade and £2.5bn for East-West rail as part of the Spending Review. The Chancellor also set out plans to “take forward” the UK’s ambitions for Northern Powerhouse Rail, [...]