Rival Silvertown Tunnel bidder launches legal action against TfL August 13, 2019 A rival bidder for the proposed Silvertown Tunnel has launched legal action against Transport for London (TfL), preventing it from signing the £1bn contract. TfL awarded the contract to build and design the tunnel in East London to Riverlinx, a consortium that includes Aberdeen Standard Investments (ASI), Cintra and Macquarie Capital. Read more: TfL awards [...]
Trafigura teams up ahead of polluting shipping fuel ban August 13, 2019 Trafigura has said it plans to join up with two Norwegian-owned shipping firms to start supplying shipping fuels. The commodity trader said it was launching a joint venture with Frontline and Golden Ocean as the industry prepares for tough new fuel standards from the beginning of next year. Read more: Why the shipping industry is [...]
Late holidays cause slump in Getlink passenger traffic August 13, 2019 Getlink, the Channel Tunnel operator, reported slumps in its truck and car traffic figures in July, which it blamed on a slowdown in UK consumption and later holiday departures. Getlink, which used to be called Eurotunnel, transports passenger vehicles and commercial vehicles across the Channel. Read more: Getlink blames Brexit for slump in traffic numbers [...]
Protesters bring Hong Kong airport to its knees for second day in a row as outbound flights cancelled again August 13, 2019 Hong Kong’s international airport has yet again been plunged into chaos after anti-government protesters forced authorities to cancel outbound flights for the second day in a row. Hours after one of the world’s busiest travel hubs returned to full operation, demonstrators have blockaded security gates again today, forcing some would-be passengers to fight their way [...]
John Menzies falls to a loss after Boeing 737 Max groundings August 13, 2019 Airport services firm John Menzies has become the latest company to suffer from the grounding of Boeing’s 737 Max jets, as weak cargo volumes helped pushed it to a first-half loss. Read more: John Menzies shares plunge after profit warning Shares in the London-listed firm fell 4.9 per cent in early trading to 394.5p. The [...]
Travel firm Tui says Boeing 737 Max grounding could cost it up to €300m August 13, 2019 Anglo-German travel firm Tui said today that the grounding of the Boeing 737 Max could cost it up to €300m (£278m) for the current financial year. In its results for the third quarter, the firm’s markets and airlines business posted a €103.9m loss, compared to a profit of €37.2m in the same quarter the year [...]
Axe to grind: Taxi drivers slam ‘PR gimmick’ as City launches car-free days August 13, 2019 Taxi drivers have slammed plans to close off key locations in the City of London to traffic during the summer, saying they amount to a “PR gimmick”. Key City hotspots, including St Mary Axe and Chancery Lane, will be closed for days in August and September to allow workers to enjoy traffic-free lunch breaks, the [...]
Rolls-Royce shares drop after ‘hailstorm’ of jet engine fragments cause chaos in Rome August 12, 2019 A “storm of steel and iron” raining down on people in a busy suburb of Rome over the weekend sent engine maker Rolls-Royce’s market value tumbling more than half-a-billion pounds today. Romans were forced to take cover on Saturday as hot fragments of metal fell from a Boeing 787 Dreamliner jet flying over the Fiumicino [...]
Scottish Power owner sells £1.6bn wind farm stake August 12, 2019 Scottish Power owner Iberdrola said today it had sold a £1.6bn stake in an East Anglia wind farm as it looks for funds to expand its networks and renewables production. It signed a deal to sell 40 per cent in the East Anglia One offshore plant to an arm of Macquarie Group. Read more: Earnings [...]
Heathrow on track to top 81m passengers after July boost August 12, 2019 Heathrow has said it is on track to top 81m passengers this year after new figures revealed that nearly eight million passengers used the airport in July. The hub airport has already flown 46m passengers so far this year, a near 1.5 per cent increase on the same time the previous year. Read more: Business [...]