MPs slam ‘inconceivable’ judgement of Thomas Cook auditor EY October 22, 2019 Thomas Cook’s auditor, EY, has faced a barrage of criticism from MPs, who called it “inconceivable” that accountants judged it a sustainable business in the year leading to its collapse. Bosses at EY and PwC, two of the so-called big four accountancy firms, were hauled in front of the business select committee this morning as [...]
Travis Perkins halts sale of plumbing and heating unit amid ‘unprecedented’ uncertainty October 22, 2019 Travis Perkins has put the sale of its plumbing and heating business on hold due to an “unprecedented level of uncertainty” in the market. The building materials distributor had decided to tell the unit last December in a bid to simplify and cut costs. Read more: Travis Perkins confirms plans to demerge Wickes But the [...]
On the Beach swoops in for Thomas Cook market share after collapse October 22, 2019 Package holiday firm On the Beach has jumped at the opportunity created by the collapse of Thomas Cook, it said today, nudging shares up in early trading. The London-listed firm said the failure of the 178-year-old travel giant has “created an unprecedented opportunity to take additional market share at an increased rate”. Read more: Thomas [...]
Grant Shapps accused of ‘recycling’ year-old green number plate plan for electric cars October 22, 2019 Transport secretary Grant Schapps has come under heavy criticism for “recycling” a year-old announcement to introduce green number plates for electric cars. His department this morning asked the industry for feedback on whether to give bright green number plates to zero-emission cars, in a bid to encourage people to buy electric vehicles. However, the plan [...]
Boeing ‘regrets’ leaked 737 Max Whatsapp messages October 21, 2019 Boeing has said it understands the clamour over leaked messages from a former test pilot over erratic software behavior on its 737 Max jet two years before recent crashes. US regulator the Federal Aviation Administration (FAA) on Friday ordered Boeing chief executive Dennis Muilenburg to give an “immediate” explanation for the delay in turning over [...]
Extinction Rebellion patron buys stake in Heathrow Airport October 20, 2019 A billionaire backer of Extinction Rebellion has been revealed to have a stake in Heathrow Airport. Sir Chrisopher Hohn has clandestinely built a 4 per cent stake in Heathrow parent company Ferrovial worth €730m (£630m), according to the Sunday Telegraph. Read more: Ferrovial makes bid to take trio of Britain’s regional airports It was reported [...]
Boeing employees exchanged texts over 737 Max safety issues in 2016 October 19, 2019 Employees of Boeing exchanged messages about the issues with the 737 Max’s automated safety system as it was being certified in 2016, new information has revealed. A pilot said he had run into unexpected trouble during the tests, it was revealed in documents provided to lawmakers. He said that unknowingly he had “basically lied to [...]
Wincanton pursues possible merger with Eddie Stobart October 18, 2019 Wincanton is considering a move for British logistics giant Eddie Stobart, the rival confirmed today. While it is yet to table an offer, Wincanton said it is “undertaking a diligence exercise on Eddie Stobart and its assets” to assess the merits of a tie-up. Read more: Ousted Stobart Group boss ‘preparing bid for Eddie Stobart’ [...]
Tube delays: Jubilee Line disrupted for second day after Extinction Rebellion protest October 18, 2019 Jubilee Line commuters faced a second day of Tube misery in a row as transport bosses warned the service was part suspended with severe delays. Passengers were left without any service between Finchley Road and Waterloo in rush hour due to “the temporary unavailability of trains”. Severe delays plagued the rest of the line. Read [...]
TfL boss Mike Brown to resign in May October 17, 2019 Transport for London (TfL) boss Mike Brown is set to resign after four years in the post. TfL announced today the transport commissioner will be leaving the job after next year’s mayoral election in May. Read more: Mike Brown hits out at ‘bonkers’ TfL borrowing limits He will then become the first chair for the [...]