Petropavlovsk appoints KPMG as independent forensic investigator November 23, 2020 Russian gold mining company Petropavlovsk has appointed KPMG to undertake a forensic investigation into certain business deals made in the last three years. The investigation will examine deals between Petropavlovsk and its subsidiaries, and fellow mining company IRC and its subsidiaries in the three years to August 2020. The investigation was proposed at Petropavlovsk’s general [...]
HS2 is a shot in the arm for the post-pandemic economy November 23, 2020 It is no exaggeration to say that 2020 has been one of the most difficult years in modern history for many businesses. But as the year draws to a close, we have great reason for optimism: widespread roll-out of a vaccine is edging closer, and it looks like we will be able to begin to [...]
Crossrail will be ‘mothballed’ without extra funding, TfL chief warns November 21, 2020 The troubled £19bn Crossrail project is at risk of being “mothballed’ unless it receives urgent additional funding, London’s transport chief has warned. Transport for London (TfL) commissioner Andy Byford this week urged the Department for Transport to provide £80m of immediate support to keep the rail link on track, Sky News reported. In a letter [...]
GLIL Infrastructure buys 30 per cent stake in Hitachi rolling stock fleet November 20, 2020 Investment fund GLIL Infrastructure today announced that it will buy a 30 per cent equity stake in rolling stock firm Agility Trains East (ATE) from Hitachi Rail. It is believed that the fund will pay around £400m for the stake, in line with what fellow investor AIP Management paid for a similar interest in the [...]
Global airlines will need $80bn more to stay airborne, IATA warns November 20, 2020 Industry body the International Air Transport Association (IATA) has warned that the world’s airlines will need another $80bn (£60bn) in aid to get through the rest of coronavirus crisis. Governments around the world have already put up $160bn to keep their struggling carriers airborne, but IATA director-general Alexandre de Juniac said more would be needed. [...]
Gatwick Airport to open coronavirus testing centre November 20, 2020 Gatwick Airport will open a coronavirus testing centre at the end of the month offering passengers results the next day. From 30 November, passengers both arriving at and departing from the Sussex airport will be able to take a test for £60. The airport said the centre could help to fulfil the requirements of the [...]
Santander Cycles to cost commuters just £1 a week November 20, 2020 Londoners will be able to cycle to work for as little as £1 a week under a new scheme being launched by Santander Cycles. Cycling to work provider Cyclescheme has partnered with Transport for London (TfL) on a new programme called City Bike Hire. Under it, those employers who nominate Cyclescheme as their cycle to [...]
Israel and Sri Lanka added to quarantine free travel corridors list November 19, 2020 Israel and Sri Lanka are among nine countries to have been added to the UK’s travel corridor list, meaning that people can travel to them without quarantining on return. The other countries added to the list are Namibia, Rwanda, Uruguay, Bonaire, St Eustatius and Saba, the Northern Mariana Islands, and the US Virgin Islands. It [...]
Jet2 cagey on next summer after passenger numbers collapse November 19, 2020 Travel firm Jet2 said it remained cautious in its outlook for next summer after falling to a pre-tax loss of £119.3m for the first half of the year. With travel bans and quarantine restrictions in place for much of the six months to 30 September, the package holiday company swung from a £337m profit the [...]
Road pricing can level up the nation and take our outdated transport system into the twenty-first century November 19, 2020 If the leaks from the Treasury this week are to be believed, Rishi Sunak has been presented a study on road pricing by his civil servants. He’d be a fool not to take it seriously. Shifting towards a comprehensive system of road pricing would help the chancellor level up the regions, drive down pollution, and [...]