US issues seizure warrant for two planes ‘owned and controlled by Roman Abramovich’ worth £320m June 7, 2022 The United States has issued a warrant for the seizure of two jets owned by Roman Abramovich worth £320m ($400m). The ex-Chelsea owner’s $350m Boeing and $60m Gulfstream are now “subject to seizure and forfeiture” owing to violations of export controls set up by Joe Biden, to put pressure on Russia. Both planes were flown [...]
National Express: Profit recovery held back by desire for low UK fares as demand recovers June 7, 2022 Coach operator National Express said its endeavour to keep price affordable for UK users will limit the pace of its margin recovery. The company made the headlines when its offer to buy rival Stagecoach was snubbed in favour of German asset manager DWS Infrastructure. National Express reiterated an expectation for an average profit margin of [...]
“Perfect storm” for new car sales as cost of living crisis and supply issues see May figures at historic low June 6, 2022 UK new car sales fell to their second weakest May in the last thirty years as a lack of consumer confidence and supply chain chokepoints took their toll on the big-ticket purchases. Just 124,000 cars were registered in May of this year, the lowest of the last thirty years except for the pandemic-induced lows of [...]
Platinum Jubilee fuel price surge could become a ‘national crisis’ and needs ‘radical’ intervention – RAC June 6, 2022 A “national crisis” is emerging as a result of surging fuel prices over the platinum Jubilee bank holiday, motoring giant the RAC has said. The driving champions warned unless there was “radical” intervention from the government, people would suffer at the pump even further. This comes after the price of petrol went up by £3.16 [...]
FTSE 100 boosted as oil majors and miners buoyed by rising crude prices June 6, 2022 London’s FTSE 100 opened higher on Monday as gains for miners and oil majors buoyed the index. The capital’s premier index was up one per cent after an extended weekend due to Platinum Jubilee celebrations. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, opened 1.2 per [...]
London Metal Exchange sued by US fund manager over nickel freeze June 6, 2022 The London Metal Exchange (LME) is being sued for a sum worth £365m by a Wall Street hedge fund after the cancellation of nickel trading earlier this year. Fund manager Elliott Associates has filed a claim in the English High Court against the platform and its subsidiary LME Clear. The trading platform suspended nickel trading [...]
Post-Jubilee hangover on Monday from hell: ‘Fed up’ Londoners to work from home as tube strike brings city to standstill June 6, 2022 Travel chaos looms for millions of Londoners planning to return to work today after the long Bank Holiday break because tube stations across London are closed because of a strike. London Underground advised people not to travel, warning of severe disruption across the network from the start of service on Monday to 8am on Tuesday. [...]
Elizabeth Line: Meet TfL’s new advertising asset June 6, 2022 When the Elizabeth line opened last month, the excitement across the City was palpable. From transport enthusiasts to keen commuters, the new line brought a new lease of life for the London Underground.
Royal party is over for millions as Brits return to work after historic Platinum Jubilee celebrations June 6, 2022 The party is over for millions of Brits who joined in with Platinum Jubilee celebrations across the extended bank holiday weekend. Closing the four days of pomp, pageantry and partying, the Queen said she remains “committed to serving” the nation to “the best of my ability”. The 96-year-old monarch was absent for much of the [...]
Mercedes-Benz announces global recall of nearly one million vehicles June 5, 2022 German car maker Mercedes-Benz has announced a global recall of nearly one million older cars due to problems with their braking systems. “Mercedes-Benz AG has determined that on certain vehicles of the ML, GL, and R-Class series from the production period 2004 – 2015, the function of the brake booster might be affected by advanced [...]