Exclusive: Transport for London aware of Croydon tram fatigue problem two years before deadly crash October 29, 2020 Transport for London (TfL) officials were told of concerns about driver fatigue on the Croydon tram network two years before a fatal crash which killed seven people – believed to have been caused by a driver falling asleep. An independent audit of the Croydon Tramlink carried out in March 2014 and seen by City A.M. [...]
Shaun Bailey accuses Sadiq Khan of wasting nearly £10bn of TfL cash October 29, 2020 Conservative London mayoral candidate Shaun Bailey has today accused Mayor Sadiq Khan of wasting nearly £9.6bn in Transport for London (TfL) finances since 2016. According to Bailey, the failure to deliver the Crossrail rail link on time has cost £5.2bn, while pensions have drained £828m from TfL’s finances over the period. A freeze of Tube [...]
Boeing to slash 7,000 more jobs after fourth straight quarter of losses October 28, 2020 Planemaking giant Boeing will reportedly slash 7,000 more jobs as the firm reported its fourth straight quarter of losses. As a result, by the end of the year the US company will have shed 30,000 jobs – 20 per cent of its 160,000-strong workforce. Boeing fell to a $466m loss for the third quarter, meaning [...]
Rolls-Royce shares halve after £2bn rights issue approved October 28, 2020 Rolls-Royce’s stock halved today after the the engine-maker’s shareholders voted in favour of a £2bn rights issue. After the morning’s trading, the blue chip’s stock was trading at 94.85p, down 56.7 per cent for the day. It’s the lowest the shares have traded at in over 15 years, and means that the stock has shed [...]
DEBATE: Is Sadiq Khan right to refuse to expand London’s congestion charge zone? October 28, 2020 Is Sadiq Khan right to refuse to expand London’s congestion charge zone? JOIN THE DEBATE Wes Streeting, Labour MP for Ilford North, says YES When Boris Johnson was mayor of London he promised Londoners: “I am not going to be having any more congestion charges”. Yet now, his government is trying to force exactly that [...]
Aston Martin capital raise subscribed after Mercedes deal boosts shares October 28, 2020 Aston Martin has said all shares available in its £125m capital raise have been placed or subscribed, as it looks to turnaround its business. The capital raise, which represents approximately 13.7 per cent of the company’s shares, comprised 250m shares at a price of 50p per share. Shares in the beleaguered carmaker jumped 6.24 per [...]
Paris overtakes Heathrow as Europe’s busiest airport October 28, 2020 Paris has overtaken Heathrow as Europe’s busiest airport following a sharp drop in passenger numbers at the London travel hub. Heathrow’s chief executive John Holland-Kaye called on the government to introduce pre-departure coronavirus tests and to create an airbridge with the US as the number of travellers using the airport continued to fall. He warned [...]
Mercedes-Benz to take 20 per cent stake in embattled British icon Aston Martin October 28, 2020 Mercedes-Benz will take a 20 per cent equity stake in beleaguered Aston Martin, the iconic British carmaker announced this afternoon.
Flying is at the same risk level for catching Covid as visiting the supermarket, Harvard research finds October 27, 2020 A new report from Harvard researchers found the risks of catching Covid-19 during a flight are similar or lower than going to the supermarket – if you wear a mask
Rolls-Royce shareholders approve £2bn rights raise plan October 27, 2020 Rolls-Royce shareholders have this morning approved the engine maker’s £2bn rights issue as it seeks to bolster its finances. As a result, the group’s liquidity will rise by £5bn, as the capital raise opens up new options including a £2bn bond issue and the extension of a two-year loan by £1bn. Chairman Ian Davis told [...]