Vauxhall owner Stellantis boosts full year guidance after roaring off the line August 3, 2021 Stellantis charged out of the blocks in its first ever half year results, boosting its full year profit margin guidance despite the current semiconductor shortage. The car giant, which formed from the merger of Fiat Chrysler and Peugeot owner PSA in January, posted revenue of €8.6bn for the first half, smashing analyst predictions of €5.9bn. [...]
HS2 will deliver no environmental benefits, says former rail watchdog chief August 3, 2021 The volume of carbon emissions produced by the construction of the controversial HS2 railway line will be greater than the reduction in removing vehicles from the road, a new report published today revealed. A review of the project by the former head of the rail regulator, Stephen Glaister, found that HS2 will yield effectively zero [...]
BMW raises 2021 profit forecast, but warns chip shortage will hit second half August 3, 2021 BMW has raised its profit forecast for 2021 today announcing strong quarterly results while warning investors about the impact of the global semiconductor chip shortage on the carmaker. The company saw “strong customer demand during the first half of the year,” according to a statement by chief executive Oliver Zipse. “However,” he continued, “in light of [...]
RMT union postpones this week’s London Tube strikes August 2, 2021 Two separate Tube strikes planned for this week have been postponed, after the drivers’ union decided to hold more talks with Transport for London (TfL). London was set for travel chaos tomorrow, with a 24-hour drivers’ strike scheduled to begin at midday that was expected to affect the entire network. TfL wants to scrap the [...]
‘Green’ status should be default for most of world, say BA and Easyjet bosses August 2, 2021 The UK’s airline industry has called for more countries to be added to the “green list” for travel this week, and it should be the “default” for most places. Transport secretary Grant Shapps is due to update the current traffic light system for international travel later this week. In a letter to Shapps signed by [...]
JetBlue gears up to launch low-cost New York to London flights next week August 2, 2021 JetBlue is adamant its soon-to-launch London-New York route will be a success for the low-cost airline, despite launching amid a fragile recovery from Covid where restrictions change weekly. The American carrier debuts at London Heathrow on 11 August, shuttling passengers between the two global financial centres on daily flights. One daily return flight from Heathrow [...]
Cazoo sees revenue grow sevenfold as New York listing nears August 2, 2021 Used car firm Cazoo today reported a second straight quarter of whopping revenue growth as it continued its rapid expansion. The company said that revenues had jumped sevenfold, from £20m in the second quarter last year, to £141m today. It sold 10,692 cars in the period, five times as many as the 2,022 it shifted [...]
Tory row erupts over government plans to start amber watchlist for travel August 2, 2021 A government plan to bring in a watchlist for countries at threat of being put on the red travel list has been heavily criticised a growing group of Tory MPs. The government is expected to make the announcement later this week in a move that some say will cripple the aviation and travel industry. The [...]
Government to pump £5bn into speedier internet to accelerate Covid recovery August 2, 2021 The government is pumping £5bn into speeding up internet access to those in rural parts of the UK, in a bid to accelerate the country’s Covid-19 recovery. Millions stand to benefit from the government’s Project Gigabit fund, which seeks to upgrade digital infrastructure in hard-to-reach areas. The fund also looks to “fire up” high-growth sectors [...]
Quarantine lifted for double-jabbed US and EU travellers as ministers discuss amber watchlist August 2, 2021 Fully-vaccinated travellers from the EU and the USA are now able to enter the UK without quarantining. The government announced the new scheme – which came into effect at 4 am this morning – last week, saying it could help reunite friends and family who live abroad. People coming from France are still required to [...]