Emergency talks: Chancellor and energy bosses hold crisis meeting as gas bills risk climbing to £4,400 August 10, 2022 Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will hold emergency talks with energy sector chiefs today as the price cap was forecast to hit more than £4,400 in January. In a new dire outlook for households, Cornwall Insight said bills are set to soar to around £3,582 in October, from £1,971 on Tuesday, before [...]
Tui takes £63m hit from recent travel chaos after 200 flight cancellations in just two months August 10, 2022 Holiday giant Tui has revealed a £63m hit from the recent travel chaos that crippled airports and led to flight cancellations and lengthy delays. The firm said its customers were impacted by about 200 flight cancellations in May and June, in particular due to woes at Manchester Airport amid staff shortages. Tui remained loss-making in [...]
Used car market shrinks due to knock-on impact on new vehicles August 10, 2022 The UK used car market has shrunk by almost 19 per cent in the second quarter of this year due to the knock-on impact of semiconductor shortages on new vehicles. According to data published today by the Society of Motor Manufacturers and Traders (SMMT), 1.7 million second-hand transactions have taken place – down by 407,820 [...]
German tyre maker Continental posts €251m loss following ‘hurricane’ of setbacks August 9, 2022 German automotive manufacturer Continental has posted a quarterly loss of €251m (£212.3m) as it described the current setbacks as a “hurricane.” “The current headwind is rather like a hurricane and will not subside any time soon,” commented chief financial officer Katja Dürrfeld. “Given this environment, we have performed well and become more resilient. “We cannot [...]
Proposed bus cuts will lead to personal security concerns for women, minorities and disabled Londoners August 9, 2022 The bus cuts proposed by Transport for London (TfL) will lead to personal security concerns for Londoners – especially for women, people of colour and disabled people. According to watchdog London TravelWatch, the planned cuts will force one in five Londoners to change buses in the middle of the night, moving to an altogether different [...]
Felixstowe strike set to go ahead as no deal reached yesterday August 9, 2022 The strike at the port of Felixstowe is set to go ahead after no deal was reached yesterday between dock workers and port authorities. The union announced that around 1,900 staff members will walk out for eight days, from 21 to 29 August, over salaries. Felixstowe said it was disappointed by the union’s decision to [...]
Maersk warns about logistics disruption if Felixstowe strike goes ahead August 8, 2022 The strike at the Port of Felixstowe could lead to significant disruption, Maersk said. In a notice published today, the shipping giant warned customers to expect “significant operational delays,” urging them to have contingency plans ready. “Our teams continue working hard on planning appropriate contingencies and expect to share concrete details and actions we are [...]
Veolia to pocket £2bn from Suez UK waste unit as CMA forces energy giant to sell August 8, 2022 Veolia said this afternoon it plans to sell Suez’s UK waste business to Macquarie for £2bn after regulators raised competition concerns. The French utilities giant agreed to buy smaller French competitor Suez in a £10.9bn deal last year. However, it has had to sell parts of Suez’s waste operations in numerous regions amid concerns over [...]
Air taxi firm Vertical Aerospace posts loss as company builds latest prototype August 8, 2022 UK electric aviation firm Vertical Aerospace has posted a half-year loss of £39m, up from last year’s £22m, due to its pre-revenue status. Costs increased as the company completed building its aerial taxi prototype which, after a series of ground testing, is expected to begin flying this summer. “I am grateful for the efforts of [...]
Unbearable: Victoria crowned noisiest tube line after receiving most complaints August 8, 2022 The Victoria Line was crowned the noisiest on the Transport for London (TfL) network after it received the highest number of complaints from passengers, drivers and people that live nearby. Running from Brixton to Walthamstow, the line received 306 complaints since 2016, 108 of which for the section between King’s Cross and Highbury and Islington. [...]