French and Germany pressure may force IAG to spin off British Airways February 10, 2022 British Airways’ (BA) parent company IAG could be forced to spin off BA as Germany and France might push to reinstate EU ownership rules. According to HSBC analysts, IAG – who owns the likes of Aer Lingus, Iberia and Vueling – might be forced to make BA a truly independent company as regulations require airlines [...]
Britain’s very first 100mph battery-diesel hybrid train leaves Marylebone station in London today February 10, 2022 Britain’s very first 100mph battery-diesel hybrid train is entering passenger service to cut carbon emissions and boost air quality. Chiltern Railways will introduce the train on its 40-mile route between London Marylebone and Aylesbury, Buckinghamshire, today. There are plans to use it between the capital and Oxford in the coming months. It was developed by [...]
Cyber market boosts Beazley’s “robust profit” February 10, 2022 International insurance firm Beazley has reported a “robust profit” of $369.2m as a result of opportunities increasing in the cyber market. The firm said that, in the six months ended 31 December, its return on equity went up to 13 per cent on 2020 levels to 16 per cent, while its gross premiums written surged [...]
HS2 opens huge factory to ramp up works on UK longest railway bridge February 9, 2022 HS2 has built a temporary factory larger than Royal Albert Hall to ramp up works on the Colne Valley viaduct. Long 100 metres and with an internal volume of 105,000m3, the factory will build the 140-tonne segments that will constitute the deck of the 2.3 mile viaduct, making it the UK’s longest railway bridge. “We’re [...]
Toyota’s profit slumps 21 per cent as chip shortages curtail production February 9, 2022 The world’s biggest car maker Toytota has posted a 21 per cent fall in operating profit after ongoing chip shortages curtailed production. In the three months ended 31 December, the group’s profits went down to $6.8bn, forcing the automotive maker to reduce 2022 production volume forecasts by 500,000 units, going down from 9 million to [...]
Tesla recalls 26,000 cars over software error while it braces for harassment lawsuit February 9, 2022 Tesla can’t seem to catch a break these days, as it was forced to recall more than 26,000 cars over a software error, while bracing for a potential racism and harassment lawsuit. According to the US agency in charge of automotive safety standards, software errors could cause a valve in the heat pump to open [...]
London crowned UK second most congested city while overall levels go down February 9, 2022 While overall levels continue to decrease, London was crowned the UK’s second most congested city after Edinburgh. According to TomTom’s traffic index, in 2021 alone 14.8 megatonnes of CO2 were emitted as a result of London’s road traffic, of which 2.2 megatonnes came directly as a result of congestion. “Our data shows that the environmental [...]
John Menzies shares take off after firm rejects £468m takeover proposal from Kuwait company February 9, 2022 John Menzies’s shares took off this morning, soaring 34.03 per cent after the airport services firm rejected a £468m ($636m) takeover proposal. The Edinburgh-based company said the proposal made by Kuwait firm Agility Public Warehousing was “entirely opportunistic” as it undervalued the company’s worth. The aviation services provider said Agility Public Warehousing’s proposal of buying [...]
Major disruption on DLR following customer incident February 9, 2022 Hundreds of commuters were affected this morning by a major disruption on the Docklands Light Railway (DLR). According to Transport for London (TfL) services are not running between West India Quays and Mudchute following a customer incident at Heron Quays, while minor delays are affecting the rest of the DLR network. Despite TfL’s reassurances that [...]
UK summer flight bookings almost close to 2019 levels as Brits look at travelling with optimism February 9, 2022 UK summer flight bookings have gone back to almost pre-pandemic levels, as Brits look at foreign travelling with a newfound optimism despite a series of economic crunches. According to data from travel trend firm ForwardKeys, bookings for the summer of 2022 lagged behind only 16 per cent compared with 2019 levels. While many travellers still [...]