IPO costs knock Trainline into loss despite jump in ticket sales November 5, 2019 Trainline fell to a post-tax loss of £89m following its June IPO despite a 20 per cent boost to net ticket sales in its half-year results, it said today. Read more: Trainline increases revenue expectations as sales soar The figures Trainline recorded an £89m loss after tax in the six months to the end of [...]
Uber hopes to turn a profit in 2021, as ride hailing firm makes heavy third quarter loss November 4, 2019 Ride hailing giant Uber hopes to be profitable by 2021, its chief executive has said, as the company booked a more than $1bn loss in its third quarter earnings. Uber beat Wall Street estimates for revenue over the period, as the number of people using its ride-hailing and food delivery service increased. However, it still [...]
Ferrari’s prancing horse gallops on as luxury car maker raises outlook November 4, 2019 Luxury car maker Ferrari raised its outlook on Monday, after strong sales of its Portofino and 812 Superfast models drove “solid” results for the third quarter. The company nicknamed the Prancing Horse said a new brand strategy would help it navigate to even more growth, as its Milan-listed shares hit an all-time high today of [...]
TfL is investigating thousands of potentially illegal minicab drivers November 4, 2019 Transport for London is investigating almost 2,000 London minicab drivers that may have illegally gained their driving qualifications. Minicab drivers must complete several requirements – passing topographical tests, medical checks and criminal record checks – with TfL before gaining a private hire vehicle licence. Read more: TfL cracks down on illegal minicabs and taxis However, [...]
Ryanair will ask for IAG divestments in €1bn Air Europa deal November 4, 2019 Ryanair boss Michael O’Leary is ready to ask competition regulators to intervene in British Airways owner IAG’s purchase of Air Europa, he said today. IAG is primed to buy the Spanish airline for €1bn (£860m) but O’Leary said he will ask the Competition and Markets Authority (CMA) to force the firm to make divestments to [...]
TfL adds more trains to Victoria line at peak times November 4, 2019 The Victoria line has increased its capacity by 275,000 passengers each weekday after more trains have been added at peak times. Transport for London (TfL) announced today that one train will arrive every 100 seconds for three hours in the morning and evening – from 7.15am to 10.15am and from 4.15pm to 7.15pm. Read more: [...]
Thomas Cook collapse: MPs slam government inaction and lack of audit reform November 4, 2019 Business secretary Andrea Leadsom has come under fire from MPs for “the extraordinary lack of interest” she showed in Thomas Cook in the run-up to its collapse, amid growing calls for wide-ranging regulatory reform. In a scathing conclusion to the business select committee’s (BEIS) review into the travel giant’s liquidation, MPs expressed their frustration that [...]
British Airways owner IAG pays €1bn for Air Europa November 4, 2019 British Airways’ parent company, IAG, has reached a €1bn deal to acquire rival Air Europa in a bid to bolster its presence in the South Atlantic. The deal means IAG can turn its Madrid hub into “a true rival” to the four European hubs of Amsterdam, Frankfurt, Heathrow and Paris Charles De Gaulle airports, the [...]
‘Dirty business’: Rail firms will still be dumping raw sewage on the line next year November 3, 2019 Rail operators have been forced to backtrack on a promise to stop the “dirty business” of dumping excrement on tracks by the end of the year. Network Rail and a number of train companies have admitted the 2017 promise – to stop using carriages whose toilets flush sewage directly onto the track by the end [...]
HS2 review still unfinished, with no final decision expected until after election November 3, 2019 A decision on whether to proceed with the controversial HS2 rail project appears to have been pushed back until after the upcoming General Election, amid uncertainty over how it will feature in party manifestos. Lord Tony Berkeley, the deputy chairman of the official review into the high-speed rail scheme, said the report remains unfinished, with [...]