Rolls Royce’s £4bn loss: A sobering reminder of how much damage the pandemic has caused March 11, 2021 Rolls Royce was already in serious difficulty even before the pandemic wind came blowing in from China a year ago, due to problems with its Trent 1000 engine that powered the Boeing 787 Dreamliner. Today’s full year results were not any better,and did not come as a surprise for CMC Markets UK chief market analyst Michael [...]
MPs urge government to ensure travel restart plans are made public March 11, 2021 MPs have today urged the government to make public the Global Travel Taskforce’s recommendations when the body reports to the Prime Minister on plans for reopening travel on 12 April. In a new report, the parliamentary transport committee said that the failure to do so would rob the aviation industry of much-needed clarity. When the [...]
‘Unacceptable’ Heathrow queues risk UK’s economic recovery, airport says March 10, 2021 Heathrow’s chief operating officer has today said that the length of delays currently facing travellers at the UK’s biggest airport were “unacceptable”. Speaking to MPs at the Home Affairs Select Committee today, Emma Gilthorpe said that some people were having to queue for three to six hours to pass through border control. And she warned [...]
Ryanair launches vaccine passport-style ‘travel wallet’ March 10, 2021 Ryanair has today launched a coronavirus “travel wallet” into which passengers can upload documents showing they have had a vaccination or negative test result. The Irish carrier is one of a number of organisations that has been developing an app of this sort in order to enable people to travel more freely when restrictions are [...]
VW strategy chief quits to pursue smart boats March 10, 2021 Volkswagen strategy chief Michael Jost is set to quit his role to pursue smart boat building with his family, a statement on his website said today. “Since 1996 I am leading a weekend marriage and family. Now corona has brought me home and we’ve realised that we can live together. I want to stay here. [...]
Balfour Beatty reinstates dividend and repays furlough cash despite shrinking profits March 10, 2021 Balfour Beatty today reinstated its dividend and said it would repay the £19m claimed under the government’s furlough scheme after the construction industry began to recover from the coronavirus crisis. The London-listed infrastructure firm said it will pay a dividend of 1.5p for the year ended 31 December 2020, after scrapping its interim shareholder payout [...]
Who leaves you hanging? In London, it’s banks March 10, 2021 Banks are the worst at answering customer service calls in the capital, with 33 per cent of Londoners saying it is financial institutions that led them wait the longest, if they are able to get through at all. A new Moneypenny survey, revealing the organisations that are worst at answering the phone, singled out utility [...]
Ministers to consult on cutting air passenger duty for domestic flights March 10, 2021 The government today confirmed that it was launching a consultation on cutting air passenger duty (APD) on domestic flights in a bid to improve travel links within the UK. The review is part of a broader suite of recommendations identified in former TfL boss Sir Peter Hendy’s report on the connectivity of the UK, which [...]
Tesla shares rocket as electric car stock ends slump March 9, 2021 Shares in electric car firm Tesla shot upwards nearly 20 per cent today, bringing an end to five days of losses. Having shed a third yesterday, the stock rallied in dramatic style today, picking up 18.6 per cent amid a wider rally in Nasdaq-listed tech stocks. Since hitting an all-time high on 26 January, the [...]
Euros football tournament could mark post-Covid ‘London renaissance’, says minister March 9, 2021 Euros football tournament could mark post-Covid 'London renaissance', says minister