Crossrail to run out of funding before full line opens as cost rises again July 9, 2021 Sadiq Khan is being urged to give assurances that there will be enough money to finish Crossrail after it was revealed that it could cost a further £218m to finish the much-delayed rail project. A new report from the National Audit Office (NAO) found that the controversial new line could cost between £30m and £218m [...]
Shares begin to trade for Icelandic start-up airline Play July 9, 2021 New low-cost Icelandic airline Play’s shares have this morning begun to trade on the country’s stock market, following the carrier’s recent successful float. To mark the moment, chief executive Birgir Jonsson rang the bell for the Nasdaq First North Growth Market Iceland at 12,000 feet. The start of trading comes just two weeks after the [...]
Planning reforms: Govt U-turns over infrastructure levy after Chesham and Amersham defeat July 8, 2021 The Government has announced a significant change to its controversial proposals for the reform of the planning system. Speaking to the Local Government Association’s annual conference, Robert Jenrick – the Housing, Communities and Local Government Secretary – announced that the Government would backtrack on implementing a new nationally-set infrastructure levy that was initially outlined as part [...]
Car giant Stellantis to spend €30bn on electrifying its vehicles July 8, 2021 Car juggernaut Stellantis today announced €30bn (£25.8bn) worth of investment into electrifying its vehicles by 2030 as it joins the race to quit the internal combustion vehicle. Over the next five years, the firm – formed from the merger of Fiat Chrysler and Peugeot owner PSA – will set about rolling out low emission cars [...]
Business travel groups urge government to prioritise international visitor exemption from quarantine July 8, 2021 Business travel firms have cheered today’s loosening of travel restrictions, but warned that the government needs to apply the same rules to international visitors if the sector is to fully recover. Earlier today transport secretary Grant Shapps announced that fully vaccinated Brits would no longer have to quarantine on return from “amber list” countries. The [...]
BMW and Volkswagen Group fined $1bn by EU for emission cleaning July 8, 2021 The European Commission fines BMW and Volkswagen Group a total $1bn (£726m), saying that three German carmakers breached EU antitrust rules by restricting competition in emission cleaning for new passenger diesel cars. The EU executive said the trio – BMW, Volkswagen Group and Daimler – had colluded on technical development in the area of nitrogen [...]
Trial services begin on Northern Line extension ahead of autumn opening July 8, 2021 Transport for London (TfL) has begun running trial services on the Northern Line extension to Nine Elms and Battersea ahead of this autumn’s opening. Four trains per hour are currently being run through the extension at weekends as part of trial operations. Once the extension opens, there will be an initial peak time service of [...]
Jet2 plunges to £370m loss after pandemic wipes out holidays July 8, 2021 Jet2 plunged to a £373.8m loss last year amid what it called “a period of unparalleled operational and financial challenges” due to the Covid-19 pandemic. The package holiday firm flew just 1.3m passengers last year as a result of widespread travel restrictions, down 91 per cent of the 14.6m it flew the year before. Due [...]
Uber under pressure as Chinese rival Didi enters UK July 7, 2021 Uber will come under pressure from yet another ride-hailing rival as China’s Didi prepares to launch in the UK in the coming weeks. Didi is said to have secured its first licences in Manchester and Sheffield and is set to begin services as soon as this month, the Daily Telegraph reported. The arrival of the [...]
Lorry drivers allowed to work longer hours as fears of empty shelves grow July 7, 2021 Truck drivers will be able to drive for longer hours from Monday in a bid to relieve the current shortage of haulier operators, the government today announced. Transport minister Grant Shapps tweeted: “We’re aware of a shortage of HGV drivers, so I’m announcing a temp extension of drivers’ hours rules from Monday 12 July, giving flexibility to drivers & [...]