Ministers urge Brits not to panic buy food and fuel as shortages spread September 24, 2021 Government ministers urged Brits not to panic buy fuel and goods as the shortage of lorry drivers is increasingly hitting supplies across the UK. Yesterday, BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said some of its Tesco Alliance petrol forecourts [...]
Government denies there is shortage of fuel amid BP and Esso closing gas stations September 24, 2021 The government is urging Brits “buy fuel as normal”, after the ongoing lorry driver shortage issue reached gas stations yesterday. BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said a “small number” of its Tesco Alliance petrol forecourts have been impacted. [...]
British Airways ditches Gatwick after union scuppers plans for cut-price subsidiary September 23, 2021 British Airways has canned plans to launch a budget subsidiary based out of Gatwick airport and will instead pull out of the airport permanently. BA pulled operations out of Gatwick at the beginning of the Covid pandemic and had planned to relaunch there, but with a budget unit. However, the launch a short-haul subsidiary at [...]
Drill, baby, drill: Arctic set for £230bn oil and gas bonanza with JPMorgan, Barclays and Citi piling in September 23, 2021 Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared with City A.M. this morning. The main Arctic expansionists – Gazprom, Total and ConocoPhillips – are backed by hundreds of billions of pounds from dozens of City [...]
Tesco warns of panic buying as ’empty shelves will get ten times worse’ September 23, 2021 A shortfall of 800 drivers has prompted Tesco to warn about panic buying in the run up to Christmas if the nationwide HGV crisis is not addressed. The UK’s largest supermarket also called on the Government to temporarily make it easier to bring in workers from abroad to ease the issue. Andrew Woolfenden, Tesco’s UK [...]
Global chip shortage to cost auto industry $210bn in lost production this year September 23, 2021 An ongoing global shortage in semiconductors is on track to cost the world’s automakers $210bn (£159m) in lost revenue this year, almost double that of previous estimates. Consultants at Alix Partners said that 7.7m fewer vehicles would be manufactured in 2021 as a result of the shortfall, weighing on car firms’ earnings. As the crisis [...]
Mind the funding gap: Can the TfL boss secure London’s Tube network’s future? September 21, 2021 It’s only September, but one date is very much etched in the mind of Transport for London (TfL) Commissioner Andy Byford: 11 December. That’s when TfL’s latest £1bn funding package runs out, the third short-term deal the government has bestowed on the capital’s transport network, despite repeated pleas for a multi-year settlement instead. And although [...]
Aviation bosses warn UK sector is falling behind European competitors due to hotel quarantine rules September 21, 2021 Aviation bosses have today warned that the UK’s airlines and airports are falling behind European competitors due to stricter government travel rules. Heathrow Airport chief executive John Holland-Kaye told MPs that “the UK aviation sector will go from one of the strongest in the world to one of the weakest in the world” post-Covid due [...]
Shell Enterprises sells off Texan Permian business to ConocoPhillips for $9.5bn September 21, 2021 Shell Enterprises, a subsidiary of energy giant Royal Dutch Shell, is set to sell off its Texas-based Permian business to ConocoPhillips for some $9.5bn in cash. The deal, however, which transfers all of Shell’s interest in the Permian to oil and gas heavyweight ConocoPhillips, is still subject to regulatory approvals. “After reviewing multiple strategies and [...]
Energy crisis: Ofgem and Kwasi Kwarteng resist pressure and agree price cap is not going anywhere September 21, 2021 Kwasi Kwarteng and Ofgem chief executive Jonathan Brearley have confirmed they had taken a unified position over the price ceiling continuing. The energy regulator and the Business Secretary agreed the energy price cap must “remain in place” during crunch talks to find a solution to record gas costs. Kwarteng held a crisis meeting with the [...]