£220m of oil money flows from UK to Russia since Putin sent troops and tanks into Ukraine April 27, 2022 Since the Kremlin sent troops and tanks across the border into Ukraine in February, the UK has imported around £220m worth of Russian oil, it has emerged. Figures released on Wednesday show 1.9 million barrels of oil, or 257,000 tonnes, have been imported since Russian President Vladimir Putin launched the latest stage of his eight-year [...]
Tesla shares plunge following Musk’s Twitter takeover, with $97bn wiped off valuation April 26, 2022 Tesla’s shares plunged 11 per cent today less than a day after chief executive Elon Musk snatched Twitter for $44bn. Twitter’s takeover wiped off $97bn off of Tesla’s valuation after Musk secured a $12.5bn loan against his share in the automotive giant, the Financial Times reported. The extravagant entrepreneur said he will fund the acquisition [...]
EV makers treble battery range delivering 15 times more choice to customers April 26, 2022 Electric vehicle (EV) makers have trebled the battery range in the last 10 years, giving customers 15 times more range of choice. According to a research published today by the Society of Motor Manufacturers and Traders (SMMT), the number of plug-in models has gone up from nine to 140 since 2011. EVs now account for [...]
BMW halts train deliveries to China due to Ukraine war April 26, 2022 BMW has halted its train shipments from Germany to China via the Trans-Siberian railway as a result of the Ukraine war. Alongside Audi, the world’s largest manufacturer said it was now delivering the goods via sea. “BMW has stopped all train transport through Russia immediately after the beginning of the war,” said a BMW spokesperson. “Exports [...]
P&O launches investigation after vessel loses power at sea April 26, 2022 Disgraced ferry operator P&O has launched an investigation after a recently cleared vessel lost power off the coast of Northern Ireland. The European Causeway vessel was unable to manoeuvre as required and was “unable to keep out of the way of another vessel.” “Following a temporary mechanical issue, the European Causeway is now continuing on [...]
CAA urges travellers to use £85m of unspent vouchers before they expire April 26, 2022 The Civil Avation Authority (CAA) has urged travellers to use £85m of unspent vouchers before they expire at the end of September. Given by travel firms as refund during the pandemic, the vouchers were issued between March 2020 and December 2021 and are under the Atol scheme, which protects customers if their travel company goes [...]
Heathrow raises passenger forecast but £4bn financial hole stunts growth April 26, 2022 Heathrow announced today it was raising its passenger forecasts for 2022 despite pandemic-related losses swelling to £4bn. The London hub’s forecast increased to 65 per cent of pre-pandemic levels, going up from 45.5m to 52.8m due to a peak in passenger demand over the summer. After experiencing a bleak January and February as a result [...]
Global supply of electric car batteries could be shifting East to West, say analysts April 26, 2022 The world’s supply of advanced batteries, critical for electric cars, could be shifting West, say analysts, as production grinds to a halt in Asia. China’s most recent Covid-19 lockdowns have ‘chipped away’ at the country’s dominance in the battery market, analysts at independent energy researcher Rystad Energy, Susan Zou and Abhishek Murali, explained. Businesses have [...]
Maersk raises guidance after record profits but warns boom will die down later April 26, 2022 Maersk announced today it was raising its guidance for the year after it posted record profits for the first quarter. In the last three months, the group’s revenues went ahead of expectations to $19.3bn, while Maersk’s EBITDA amounted to $7.9bn. As a result of a 71 per cent increase in freight rates, the logistics giant [...]
UK judge rules against Qatar Airways in latest episode of $600m corporate divorce saga April 26, 2022 A UK judge ruled today against Qatar Airways, in the latest episode of a bigger divorce battle between the airline and Airbus. London’s High Court denied a request by the Doha-based carrier to force Airbus to keep building A321neo jets, after plane maker slashed Qatar Airways’ order for 50 planes in January. The Toulouse-based plane [...]