Stagecoach to stop share buy back programme at £30m October 3, 2019 Stagecoach will stop its share buy back programme once it has reached £30m, the transport giant announced this morning. Earlier this year, the firm announced a share buy back programme worth up to £60m over the next year following the government’s decision to bar it from three rail franchises. Read more: Abellio takes over East [...]
Petrol prices fell even as drones struck Saudi oil October 3, 2019 Worries that drone strikes in Saudi Arabia would drive up prices at the pumps for customers seemed unfounded, new data showed as petrol prices fell in September. The cost at the pumps dropped by 0.87p to 127.95 for unleaded petrol, even as diesel rose by a third of a pence to 132.07p per litre. However [...]
Ofgem replaces boss who stuck around to bring in price caps October 2, 2019 The chief executive of Ofgem who extended his contract to help push through a cap on energy prices, designed to save Brits money, will finally step down in February, it was revealed today. Dermot Nolan, who has been in the post since 2014, will be replaced by the company’s head of systems and networks, Jonathan [...]
Transport secretary Grant Shapps: I do not know answer to HS2 cost question October 1, 2019 Transport secretary Grant Shapps has said he doesn’t know how much the controversial High Speed Two (HS2) project currently costs. HS2, which will link London to the north in stages, is currently subject to a review by former its former chairman Douglas Oakervee that could see the project significantly altered or even scrapped. Read more: [...]
Jobs at risk after no-deal Brexit as Nissan may pull SUV production from Sunderland plant October 1, 2019 Autoworkers in Sunderland were left worried earlier today after reports that Nissan could pull the production of its Qashqai SUV from the city if Britain leaves the European Union without a deal in place. The plant, a backbone in the local economy which supports thousands of jobs, could lose the vital contract, potentially leading to [...]
Thomas Cook’s Belgian operations announce bankruptcy October 1, 2019 Thomas Cook’s operations in Belgium have officially been declared bankrupt, putting 500 jobs at risk. A commercial court today ruled that Thomas Cook Retail Belgium – the largest Belgian subsidiary of the collapsed travel giant – had collapsed into administration. Read more: FRC watchdog probes EY audit of Thomas Cook accounts The retail arm had [...]
Four energy suppliers at risk as Ofgem clamps down on late green payments October 1, 2019 Fresh concerns were raised today over the future of four small energy suppliers after Ofgem warned it could revoke their licenses if they did not pay into a renewables fund run by the regulator. Nearly £15m is missing from a kitty set up to fund renewable project, Ofgem said. Read more: Ofgem opens investigation into [...]
Ryanair boss Michael O’Leary says package holiday market ‘is over,’ weeks after Thomas Cook collapse October 1, 2019 Ryanair’s chief executive has taken a swipe at the package holiday industry, weeks after the firm that effectively founded it, Thomas Cook, went bust. Michael O’Leary, the budget airliner’s longstanding and often outspoken boss, said the market “is screwed, it’s over”. Read more: FRC watchdog probes EY audit of Thomas Cook accounts Ryanair cut its [...]
FRC watchdog probes EY audit of Thomas Cook accounts October 1, 2019 The UK’s financial watchdog has launched an investigation into EY’s audit of Thomas Cook’s last set of financial results. The Financial Reporting Council (FRC) has started its probe into EY’s audit of the collapsed tour operator’s financial year ending 30 September 2018. Read more: DEBATE: Is Thomas Cook’s boss right to defend his high pay? [...]
‘New RWE’: Europe’s biggest CO2 culprit promises to be carbon-neutral by 2040 September 30, 2019 The German utility giant behind Npower has said it is stepping away from energy transported through pipelines as it revealed a giant pipeline of renewable production. RWE said it plans more than 18 gigawatts (GW) of new capacity, nearly as much as all the wind turbines installed in the UK. Read more: Eon struggles against [...]