Majority of UK firms to ramp up business travel spending by next year October 3, 2022 The majority of UK businesses are set to ramp up their travel spending in the next year, according to research. Data published on Monday by American Express revealed that 68 per cent of UK companies would increase their business travel spending by at least 50 per cent, while four in ten firms are looking to [...]
Londoners face disruption as rail strike halts Overground on Wednesday October 3, 2022 Thousands of Londoners will face disruption on Wednesday as rail strikes halt all services on the Overground. Following a 24-hour strike on Saturday, train drivers at London Overground and 14 other operators will walk out in a long-standing dispute over salaries. Disruption will affect services on: Avanti West Coast, Chiltern Railways, CrossCountry, Greater Anglia, Great [...]
SMMT: UK automotive needs investments, not government handouts October 3, 2022 The UK automotive sector needs a renewed focus on investment, not government handouts – said industry executive Mike Hawes. According to Hawes – chief executive of the Society of Motor Manufacturers and Traders (SMMT) – car makers need a “competitive framework that is as competitive as many other countries with whom we trade and with [...]
Aston Martin bags hefty investment from Saudi sovereign fund in £654m raise September 30, 2022 Aston Martin has bagged a major investment from Chinese carmaking giant Geely today in a £654m capital raise to bolster its books.
Car firms push back against greenwashing allegations September 29, 2022 Car manufacturers have pushed back against allegations they are underreporting the indirect lifetime emissions of their vehicles. A report by European environmental NGO Transport & Environment (T&E) has accused nine of the world’s largest car makers – including Volkswagen, Toyota and BMW – of downplaying the indirect lifetime emissions of their vehicles by, on average, [...]
Councils call on Gov to deliver Bakerloo line extension to avoid £6.4bn output loss September 29, 2022 Southwark and Lewisham councils have called on the government to deliver the Bakerloo line’s extension, if ministers want to avoid £6.4bn in lost economic output. “London is the beating heart of the British economy and the Bakerloo Line extension is vital to Lewisham and London’s continued growth,” said Lewisham’s mayor Damien Egan. “It is a [...]
Porsche shares climb following €75bn IPO September 29, 2022 Posche’s stocks made a strong start on Thursday, climbing as high as 5 per cent following the luxury car maker’s €75bn (£67bn) Frankfurt IPO. Shares increased from an issue price of €82.50 to €86.78 by mid-morning before closing at €82.74. Chief executive Oliver Blume said the company was “very positive about the first price.” “Of [...]
Port of Dover chief warns post-Brexit checks will be detrimental to UK trade and travel September 29, 2022 The Port of Dover’s chief executive has warned that post-Brexit biometric controls will be detrimental to the UK’s trade and travel, as they will significantly increase border delays. “If we are forced to commit to an inadequate process it will have a rapid and significant detriment on trade,” chief executive Doug Bannister said. Dover is [...]
Summer of discontent: Lost working days surge up to 78 per cent amid strikes September 29, 2022 The number of working days lost has increased amid the summer of discontent, according to data published today. Figures from the Office for National Statistics (ONS) reported that lost working days amounted to 70,500 and 87,6000 in June and July respectively – up 72 and 78 per cent on the 2019 monthly average of 19,500. [...]
UK automotive recovery threatened by soaring costs September 29, 2022 Despite reporting the fourth consecutive month of growth, the UK’s automotive recovery is threatened by increasing costs. Figures released today by the Society of Motor Manufacturers and Traders (SMMT) revealed that 49,901 units were built in August – 34 per cent up year-on-year but 45.9 per cent down on pre-pandemic levels. Overall output remains 13.3 [...]