Former Nissan executive pleads not guilty to conspiring with Ghosn September 15, 2020 Former Nissan executive Greg Kelly has denied charges he conspired with former boss Carlos Ghosn to hide income in his first hearing at the Tokyo District Court. Kelly, who has been on bail in Japan since his release from jail in 2018, said: “I deny the allegations that have been made by prosecutors. I was [...]
G4S rejects Gardaworld’s £3bn hostile takeover bid September 14, 2020 G4S has rejected a £3bn hostile takeover bid from private-equity backed Gardaworld claiming it “significantly undervalues” the company. Shares in the security firm surged more than 24 per cent on reports that Gardaworld had offered to pay 190p a share in cash in August. Gardaworld said it had made three attempts to engage with G4S’s [...]
London City Airport cuts 239 jobs as pandemic hits passenger numbers September 14, 2020 London City Airport has announced it will cut up to 239 roles due to low passenger numbers during the coronavirus pandemic. The airport said today that it has launched a consultation with staff over voluntary redundancies as it seeks to reduce costs. London City Airport suspended commercial flights in March due to the sharp drop [...]
Uber’s second London legal challenge gets underway September 14, 2020 Today Uber will appear in a Westminster court for a second time, appealing a previous ruling which banned it from operating in London over safety concerns. Transport for London (TfL) stripped Uber of its licence again last year, alleging a failure to protect its customers when using the service. Uber has been allowed to continue [...]
Costain swings to a loss after £95m problem contract hit September 14, 2020 Infrastructure firm Costain swung to a loss after taking a £95m hit on two problem contracts, it announced this morning. The figures Costain reported a loss before tax of £92.3m in the first half of the year, compared to profit of £8.4m last year. Revenue also dropped from £594.1m to £459.9m during the period. The [...]
Plan for flexible UK rail tickets now facing a delay September 13, 2020 Plans by train operators to provide flexible season tickets to cater for people returning to the office part-time have been reportedly been stifled by government inactivity. Rail companies last month submitted plans to the Department for Transport to offer Carnet-style ticketing, which would allow commuters to use up their rail trips over a certain period [...]
Leading rail pension scheme warns of £15bn shortfall under new rules September 11, 2020 The Railways Pension Scheme (RPS) has warned that a proposed regulatory shake-up of funding rules would create a £15bn hole in its finances. The £30bn scheme serves 350,000 members across the UK’s rail sector, including rail managers and train drivers. It has set out its concerns to the Pensions Regulator following plans, which were unveiled [...]
Singapore Air to cut a fifth of workforce amid pandemic chaos September 11, 2020 Singapore Air today said it will cut roughly a fifth of its workforce due to the catastrophic impact of the coronavirus outbreak on aviation demand. The airline will slash 4,300 positions — the largest job losses in its history — with the cuts impacting its main brand as well as its Silkair and Scoot divisions. [...]
Heathrow passenger numbers plummet more than 80 per cent in August September 11, 2020 Heathrow Airport has reported an 81.5 per cent fall in passengers for August compared with last year and has called on the government again to change quarantine rules. The London-based airport was the busiest in Europe prior to the Covid-19 pandemic but has suffered significantly this year. It said its passengers from North America had [...]
London transport freedom passes for all – but at what cost? September 11, 2020 Earlier this week it was reported that senior London business figures were pressing the mayor and Transport for London (TfL) to offer free travel on public transport to encourage the public, in their guise as potential consumers, to venture into the city and make free with their hard-earned pounds. Ewan Venters, CEO of Fortnum and [...]