Thomas Cook teeters on brink as eleventh hour talks look likely to end in failure September 22, 2019 Thomas Cook was close to collapsing into administration tonight as eleventh hour talks with its lenders looked set to end in failure. The company’s creditors and the government were tonight anticipating that the world’s oldest travel operator would announce it was ceasing trading tomorrow, Sky News reported. Big Four accountancy firm KPMG was tonight being [...]
Uber poised to bag further temporary licence from TfL September 22, 2019 Uber will have its fate sealed on Wednesday when Transport for London (TfL) makes a decision on the ride-hailing app’s licence in the capital. Uber has currently been running on a 15-month probationary licence, issued last June in the aftermath of Sadiq Khan’s decision in 2017 to strip the operator of its licence over safety [...]
Treasury rebuffed TfL bid for Piccadilly line funds in spending round September 22, 2019 Transport for London (TfL) asked the government for funds for the Piccadilly line signalling upgrade in the recent spending round but was left empty-handed, City A.M. understands. TfL is said to be disgruntled at the lack of funds it received from the Treasury in the recent one-year spending round announced by chancellor Sajid Javid earlier [...]
Thomas Cook asks for government bailout after giving up on private rescue September 21, 2019 Thomas Cook has approached the government in a last-ditch bid to plug a £200m gap that could see it fall into administration this weekend. The travel operator is desperately searching for a rescue deal and has now asked the government for a bailout, the BBC reports. Read more: Thomas Cook on the brink of collapse: [...]
The answer is blowing in the wind: Experts hail cheapest ever offshore wind farms September 20, 2019 The UK will build its first subsidy-free offshore wind farms next decade, campaigners and businesses said this morning as Britain’s cheapest ever offshore wind energy was unveiled. The country cemented its place as a global leader in offshore wind as one tender to provide the grid was quoted at £39.65 per megawatt hour (MWh). Read [...]
Ministers draw up shortlist for £300m post-Brexit ferry contract September 20, 2019 Brittany Ferries, P&O, Stena and Eurotunnel have been shortlisted for a £300m contract to ensure Britain does not run out of medicines and crucial food after Brexit. The government said looking for transport companies that can beef up the UK’s freight capacity ahead of a potential no-deal Brexit. Read more: New £300m no-deal Brexit freight [...]
Thomas Cook on the brink of collapse: What happens now? September 20, 2019 Thomas Cook could collapse as early as Sunday if it cannot find another £200m to seal a rescue deal. The historic British company said it is in talks to find the extra cash with stakeholders like top shareholder Fosun and lenders. Read more: Thomas Cook’s share price crashes as investors demand another £200m But even [...]
British Airways reinstates half its flights for 27 September as pilots cancel strike September 20, 2019 British Airways has restored around half of the 800 flights originally scheduled for 27 September after pilots announced they will no longer be striking next Friday. The airline has announced that customers whose flights had been cancelled due to the intended strikes can now rebook onto these flights if they wish. Read more: BA pilots [...]
Rolls Royce share price suffers as it reveals engine setback September 20, 2019 Rolls Royce said this morning it will take longer than expected to get its Trent 1000 engines back in the air after one fell apart over Italy earlier this year. The company said that it has had to remove more engines than expected from planes. Read more: Rolls-Royce: Engine issues still in focus after ‘storm [...]
Watchdog probes West Coast rail franchise award to First Group and Trenitalia September 20, 2019 Britain’s competition watchdog has said it is investigating the award of the West Coast partnership to First Group and Trenitalia. The Competition and Markets Authority (CMA) is looking at whether the joint operation could lead to “a substantial lessening of competition within any market”. Read more: Saga profits slump The CMA is inviting comments on [...]