Global travel and tourism to create 126m jobs by 2032 April 21, 2022 The global travel and tourism industry is set to create 126 million jobs within the next decade, according to a report published today. Data from the World Travel and Tourism Council (WTTC) has reported the sector’s GDP will grow at an average rate of 5.8 per cent annually between 2022 and 2032 – 3.1 per [...]
TfL workers to vote for strike action amid pension feud April 21, 2022 Transport for London (TfL) and London Underground workers are expected to vote whether to go on strike over pension cuts. Members of the union Unite accused TfL of cutting their pensions and putting an end to the final salary scheme – which bases the amount workers receive as pension on the salary they earned when [...]
Brexit and pandemic onslaught have altered UK workforce with highest-ever number of non-EU workers April 21, 2022 UK, EU and non-EU payroll data varied drastically during the course of the pandemic, according to fresh data sent to City A.M. this morning. While the UK entered the first lockdown in March 2020 with payroll numbers at 25.7m that then dropped to 24.9m by March 2021, non-EU payroll saw figures at 2.12m in March [...]
Tesla posts record profits as Elon Musk stands to gain $23bn windfall April 21, 2022 Tesla has seemingly won the hearts of drivers looking to go green, as rising prices has stopped short of putting off consumers from making the leap. Elon Musk’s electric vehicle (EV) company enjoyed record profits of $3.3bn (£2.5bn) in the first thee months of the year, despite inflationary headwinds. In its first quarter update published [...]
BHP: Mining giant slashes production guidance for copper and nickel April 21, 2022 Australian metals firm BHP has announced it is reducing total copper and nickel production for the full year yet is on track with previous iron ore estimates. In a nine month trading update on the London Stock Exchange, BHP said its production guidance for the 2022 financial year remained unchanged for iron ore, metallurgical coal [...]
City of London Corp to decide whether to let black cabs back to Bank junction April 21, 2022 A motion to allow black cabs to cross through Bank junction 24/7 will be reviewed by the City of London Corporation today. Under the local authority’s current rules, only buses and cyclists are allowed to cross the busy City junction between 7am and 7pm on weekdays. A motion brought forward by alderman Tim Hailes, and [...]
Report warns Covid travel rules imposed without ‘overall assessment’ April 21, 2022 Covid-induced restrictions on international travel were imposed in England without an “overall assessment” of their impact, according to a report released today. The National Audit Office (NAO) said there was no system put in place by the government to measure the success of self-isolation, passenger control forms and the quarantine hotels. The watchdog also reported [...]
Car insurance rises for first time in 18 months April 21, 2022 Car insurance premiums have risen for the first time in 18 months, according to financial services company Confused. Data revealed today that insuring a vehicle is £12 more expensive than it was a year ago, causing the average premium to be as high as £550 per year. “Car insurance costs are starting to increase, and [...]
Russia considers taking $1.3bn from wealth fund to recapitalise Aeroflot April 20, 2022 Russia is considering taking $1.3bn from its national wealth fund to recapitalise Aeroflot. According to Moscow sources, the wealth fund will buy Aeroflot’s new share issue through an open subscription and spend an additional $690.9m in equity stakes to help other struggling carriers. As a result of the new issue, the Kremlin’s stake will need [...]
Passengers enraged after Wizz Air flight lands in Sheffield instead of Gatwick April 20, 2022 Passengers were left enraged after a Wizz Air flight landed in Sheffield, 200 miles away from scheduled destination of London Gatwick. Travellers took it to Twitter to complain about the low-cost carrier after a flight from Tel Aviv departed three hours late. Before take-off, passengers were told the plane would land in Luton instead of [...]