Richard Branson’s Virgin Orbit to go public through $3.2bn Spac deal August 23, 2021 Sir Richard Branson’s Virgin Orbit will go public through a blank-cheque deal that values the company at $3.2bn (£2.3bn), it confirmed today. The small satellite launch firm will merge with special purpose acquisition company (Spac) NextGen Acquisition Corp. The deal also includes $100m of so-called Pipe (private investment in public equity) funding from backers including [...]
‘Potentially lethal’ Legionella bacteria outbreak on City Thameslink trains August 23, 2021 The Rail, Maritime and Transport (RMT) union warns for a “potentially lethal” Legionella outbreak on Thameslink trains. The union said it has prepared its members on Thameslink for strikes if urgent action is not taken to resolve the issue. The company said a low level of Legionella had been found in a small number of [...]
Flying high: Former RBS and RSA boss Stephen Hester to be next Easyjet chairman August 23, 2021 City heavyweight Stephen Hester, who led RBS and insurer RSA, has been named the next chairman of budget airline Easyjet. Easyjet this morning named Hester as its director and chair designate. Hester will join the Board as a non-executive director on 1 September and then he will succeed John Barton as the airline’s chair on [...]
Less rush hour traffic means major commuter train services could be cut next year August 21, 2021 Train operator Govia Thameslink are considering reducing services on major commuter lines into London, in anticipation of the end of “big spikes in rush-hour commuting”, according to reports. The train company operates the Thameslink, Great Northern and Southern lines which hundreds of thousands of people commuting into London and other cities use every day. The [...]
Space race between US, China and Japan to bring Mars soil to Earth intensifies August 20, 2021 Space agency scientists in Japan said today they plan to bring soil samples back from the Mars region ahead of the United States and China, which started Mars missions last year, in hopes of finding clues to the planet’s origin and traces of possible life. The Japan Aerospace Exploration Agency, or Jaxa, plans to launch [...]
Vertu profits get an upgrade as used car market booms August 20, 2021 Car dealership chain Vertu Motors expects higher profits for the year than previously forecast as the secondhand car market continues to grow, the company said in a statement this morning. The announcement is the second profit upgrade made by the company in the space of a single month. Vertu’s profits for the year are now [...]
Commuting again after pandemic? Never again, say one in ten Londoners August 20, 2021 Many office workers in London are to set to embark on their return to the workplace after the summer. However, many commuters are not too keen to board a train or catch the tube again, mainly due to increased concern over infection control and social distancing on the daily commute. According to a survey conducted [...]
Watch: Elon Musk’s satellites beam internet into Chilean boy’s life August 20, 2021 A school in the small remote fishing hamlet of Sotomo, Chile, is the beneficiary of a pilot internet program run by Starlink, a division of Elon Musk’s SpaceX. Watch the full report.
Thames Water coughs up £11m to compensate 13,8000 businesses for wrong bills August 19, 2021 Following an investigation by regulator Ofwat, Thames Water has agreed to pay more than £11 million to 13,800 businesses for billing them the wrong amounts. The company said it would hand out the cash to non-household customers and water retailers for errors dating back to 2017 after the Ofwat probe. Investigators found data used to [...]
Semiconductor chip shortage puts on the brakes for Volkswagen and Toyota August 19, 2021 A semiconductor supply crunch is forcing world leading car manufacturers Volkswagen and Toyota to slash vehicle production. Toyota, the world’s largest car maker, announced it will cut production by 40 per cent in September. Instead of making 900,000 as planned the manufacturing giant will now produce just 500,000 cars. Likewise, Volkswagen’s parent plant in Wolfsburg [...]