Private equity firm Cerberus mulls Addison Lee bid December 2, 2019 US private equity firm Cerberus is reportedly among those considering a bid for Addison Lee as the minicab company’s owner tries to secure a quick sale. Read more: Addison Lee lenders ‘circle’ taxi giant as sale effort continues Cerberus Capital Management submitted a bid for the minicab firm ahead of a recent deadline for offers, [...]
TfL is finally giving the Tube an Apple Pay upgrade December 2, 2019 Apple Pay users will be able to move through Tube stations faster, after the app upgraded its payment system with Transport for London (TfL). Apple Pay’s Express Transit allows people to tap through Tube stations without first having to use authentication measures. Read more: TfL deficit shrinks thanks to Ulez and increased Tube numbers Formerly, [...]
Labour to cut rail fares and create ‘London-style’ ticketing for the UK December 1, 2019 Labour will reform the country’s rail ticketing system to create a one-stop shop for tickets if elected, while also promising to cut fares by 33 per cent. The party wants to create a uniform “London-style” ticketing system that allows contactless payments and sets out fares on a zonal basis. Read more: Train companies to hike [...]
Heathrow Airport to be penalised if expansion goes over-budget December 1, 2019 Heathrow Airport will be penalised by Britain’s transport watchdog if it fails to build its planned third runway efficiently. The Civil Aviation Authority (CAA) has placed a new clause into the airport’s licence due to concerns the project could go over-budget. Read more: British Airways passengers face huge delays after technical issue The clause is [...]
Andrew Tinkler aims to offer rival resolution at crunch Eddie Stobart shareholder vote December 1, 2019 Former Stobart Group boss Andrew Tinkler is aiming to offer Eddie Stobart shareholders a rival funding package to vote on at the struggling trucking firm’s general meeting on Friday. Eddie Stobart’s board has recommended an offer from fund Dbay which would provide an emergency £55m high-interest loan to the haulier in exchange for a 51 [...]
Sir Vince Cable calls Royal Mail share slump ‘vindicating’ December 1, 2019 Former Lib Dem business secretary Sir Vince Cable has said he has been “vindicated” by the collapse in Royal Mail’s share price after his handling of the firm’s privatisation six years ago drew criticism. The coalition government was attacked at the time of the float for undervaluing Royal Mail after its shares soared by more [...]
Train companies to hike rail fares as commuters brace for strike chaos November 30, 2019 Millions of commuters will have to fork out even more on travel from January as UK train companies hike fares by 2.7 per cent on average. The increase is below July’s retail price index figure of 2.8 per cent, which is used to calculate rail fares. However, it is above the equivalent consumer price index [...]
Eddie Stobart asks shareholders to back Dbay’s £55m rescue deal November 30, 2019 Eddie Stobart has asked shareholders to back a £55m rescue deal from private equity firm Douglas Bay Capital Fund (Dbay) or risk going bust. It comes following claims from the former head of the Stobart Group, Andrew Tinkler, that he has shareholder backing for a £70m rescue. Read more: Wincanton drops interest in offer for [...]
Commuters told to avoid London Bridge station after terror attack November 29, 2019 Commuters have been told to avoid London Bridge station following a terror attack this afternoon. Police were called to London Bridge at 1.58pm along with emergency services after reports of a stabbing. Read more: Police kill man in London Bridge terrorist incident The Metropolitan Police said “a number of people have been stabbed”. Assistant commissioner [...]
Hong Kong Airlines delays salary payments as protests take their toll November 29, 2019 Hong Kong Airlines has delayed the payment of salaries for almost half of its staff members as widespread protests in the city have hit the carrier. Only cabin crew and overseas employees will receive their November wages on time, while all other Hong Kong-based workers will be paid on 6 December, the airline said in [...]