Pendragon suitor Hedin could consider withdrawing £400m bid if approached by 35p or above offer September 28, 2022 Pendragon’s suitor and majority stakeholder Hedin could consider withdrawing its £400m bid if approached by an offer of 35p per Pendragon share or above. This comes as Pendragon announced on Tuesday a review of its strategic options to maximise shareholder value. The Swedish group – which owns a 26 per cent share in the company [...]
Post-Brexit Eurostar capacity down 30 per cent due to more border checks September 28, 2022 Eurostar’s peak capacity at London St Pancras station is down 30 per cent as a result of post-Brexit checks. Chief executive Jacques Damas said that additional checks caused a “significant increase in processing times,” therefore reducing the number of people processed at peak times. Damas will step down after two years at the company’s helm [...]
Elizabeth line: Bond Street station to open on 24 October September 28, 2022 Bond Street’s Elizabeth line station will open on 24 October following a five-month delay, Transport for London (TfL) has announced. The step-free station will accommodate 140,000 daily passengers, relieving congestion from Oxford Street and giving a boost to the capital’s fashion district. Trains will initially run every five minutes, with no services taking place on [...]
Jaguar Land Rover to retrain 29,000 workers for EV transition September 28, 2022 Jaguar Land Rover (JLR) will retrain 60 per cent of its workforce for electric vehicle production as the luxury car maker presses the accelerator on its EV transition. Technicians as well as automotive engineers and production employees will be retrained to develop and maintain electric cars. JLR announced on Wednesday that, while Future Skills is [...]
Weekend exclusive: Rail sees popularity boost as City travellers avoid ‘travel dead time’ September 27, 2022 Rail is experiencing a boost in popularity among City and business travellers seeking to avoid so-called ‘travel dead time’. Trainline told City A.M. in an exclusive interview this evening that more than eight in ten of business travellers in the UK indicated that maintaining productivity is a major consideration. A further 44 per cent said [...]
Walsh: Anything shy of 2050 net-zero goal will be a failure September 27, 2022 Aviation boss Willie Walsh is calling on governments and industry regulators to commit to a net-zero goal by 2050. “I think anything shy of that will be viewed as a failure,” he told journalists on Tuesday afternoon as he talked about the ongoing International Civil Aviation Organization (ICAO) assembly in Vancouver. The UN body’s assembly [...]
GWR engineers join rail workers and strike on 1 October September 27, 2022 Around 350 engineers will join colleagues working at Great Western Railways (GWR) as well as across the network and strike on 1 October over salaries. The union Unite said that, despite a current inflation rate of 9.9 per cent, GWR engineers were not offered a pay increase. Disruption will affect the operator’s depots and stations [...]
Virgin Atlantic boss calls on Govt to make ‘difficult decisions’ and bring pound up September 27, 2022 Virgin Atlantic’s boss Shai Weiss has called on Prime Minister Liz Truss to make “difficult decisions” and bring the pound’s value up. “The message to the government is pretty clear in my mind,” he told journalists on Tuesday morning. “Prime Minister Liz Truss has taken difficult decisions upon entering the role. “Maybe you need to [...]
Virgin Atlantic to join global airline alliance SkyTeam from 2023 September 27, 2022 Virgin Atlantic has announced it will join global airline alliance SkyTeam from early 2023, becoming the first carrier to enter the organisation in eight years. It will also be the first and only UK airline to become a SkyTeam member. Chief executive Shai Weiss told journalists on Tuesday morning the move was “an obvious extension” [...]
Brazil threatens UK with WTO action over new deforestation legislation September 27, 2022 The Brazilian government has threatened to challenge proposed UK deforestation legislation at the World Trade Organisation, documents shared with City A.M. this morning reveal. The proposed legislation seeks to prevent ‘large companies’ in the UK from using products grown on illegally deforested land. When asked to disclose submissions by the Brazilian government to its consultations [...]