Jump start: Volvo Cars shares rise on £13bn market debut October 29, 2021 Volvo Cars shares have jumped on its £13bn market debut, which the Swedish carmaker said was “substantially oversubscribed”. It’s share price rose from 53 Swedish krona (£4.50) to around 59.99 krona (£5.10). The initial public offering (IPO), one of Europe’s largest this year, was delayed amid faltering investor confidence, according to reports. The carmaker, owned [...]
Climate change tech: What heat pumps could do for your home, and your wallet October 29, 2021 As the energy crisis rages on amid rising gas prices, UK householders are facing a change in the way we heat our homes to tackle climate change. Here are some answers to the key questions about one of the main technologies we could use instead of gas boilers. First, what is a heat pump? In [...]
Wizz Air top executive ousted for secret share trading October 29, 2021 Wizz Air’s chief supply chain officer has been fired after an investigation by regulators found that he had been secretly trading shares in the FTSE 250-listed airline for more than a year. Andras Sebok bought and sold shares in 114 different transactions between early April 2019 and the beginning of November last year, without notifying [...]
£19bn Crossrail mess: Uncertainty over how loans will be repaid while £150m funding gap looms October 29, 2021 The estimated cost of completing London’s new east-west railway exceeds current available funding by £150m, according to a new report by the Commons’ Public Accounts Committee (PAC). Moreover, Crossrail is facing a “serious” funding gap and there is uncertainty over how loans will be repaid, MPs have warned. The predicted cost of finishing the project [...]
Airbus’s performance prompts increase in full-year guidance October 28, 2021 Airbus’s third quarter results performed better than expected, prompting the company to increase its full-year guidance for 2021 to 600 commercial aircraft deliveries and an EBIT Adjusted of €4.5bn. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance,” said Airbus’s chief executive Guillaume Faury. “We are strengthening the balance sheet [...]
All countries to be removed from red list confirms Shapps October 28, 2021 Transport secretary Grant Shapps has confirmed that all remaining countries on the UK Government’s red travel list will be removed from 1 November at 4am, putting an end to quarantine hotels. The list – which was amended on 7 October – included Colombia, the Dominican Republic, Ecuador, Haiti, Panama, Peru and Venezuela. “We can also [...]
Ryanair to refund passengers after public mishaps October 28, 2021 Ryanair has announced it will start refunding customers of cancelled flights within five working days. Part of a company campaign to improve its image, the measure was set after the Dublin-based carrier held its first customer panel meeting in September, when customers all over Europe met with senior management to provide recommendations on customer service. [...]
UK tables draft agreement to set global aviation emissions target at COP26 October 28, 2021 The UK has reportedly tabled a draft agreement to slash aviation emissions to levels aligned with the Paris Agreement ahead of COP26. The Paris Agreement, though it does not specifically address international aviation emissions, commits countries to limit global temperature increases to 2C this century and aim for 1.5C. The government received a raft of [...]
COP26: Change your diet and fly less to help save the planet, Sir Patrick Vallance warns October 28, 2021 Behavioural changes such as eating less meat and flying less, as well as green technology to tackle the climate crisis, the UK’s chief scientific adviser has said. Sir Patrick Vallance made the comments as he joined senior scientific advisers from around the world to issue a statement ahead of the Cop26 climate talks, calling on [...]
Budget: Sunak defends decision not to cut VAT on household energy bills October 28, 2021 Chancellor Rishi Sunak this morning defended the government’s decision not to cut VAT on home energy bills to counter rising energy prices. Asked on BBC Breakfast why he did not make such a move, the Chancellor said: “Because as many independent experts and think tanks have pointed out, it is not a particularly well-targeted measure [...]