Thomas Cook shares plunge on fresh funding talks as it nears Fosun tie-up August 12, 2019 Thomas Cook shares plummeted this morning as investors digested the news the tour operator is in advanced discussions with bond holders for a £150m cash injection, on top of the £750m rescue deal it is already working on with lead investor Fosun, which would nearly wipe out shareholders. The company’s market value dropped 17 per [...]
Cathay Pacific shares tumble after airline suspends Hong Kong protester August 12, 2019 Shares in Hong Kong airline Cathay Pacific have fallen over four per cent after the airline suspended one of its pilots who had been arrested for protesting in Hong Kong. Read more: Cathay Pacific sacks staff involved in Hong Kong protests Cathay Pacific said it would bar “overly radical” crew members from working on flights [...]
Southeastern among franchises placed on public takeover watch list August 11, 2019 The Southeastern franchise is one of six that could go the way of LNER and be taken over by the government as sources warned there was little time for a new operator to be appointed by April next year. The bidding competition for the Southeastern franchise, which runs services between London, Kent and parts of [...]
Government launches probe into massive power cut August 11, 2019 The government has launched an investigation into the power outage that wreaked havoc for nearly 1m people across England and Wales over the weekend. People were left stranded after trains were delayed and cancelled, leaving commuters unable to get home from work on Friday. The disruption carried on into Saturday. Read more: UK power cut: [...]
UK power cut: Ofgem demand blackout explanation as disruption continues August 10, 2019 The UK’s energy watchdog Ofgem has demanded answers from the National Grid after a power outage on Friday plunged nearly 1m people into darkness. People from various areas across England and Wales were affected in the bizarre incident that occurred around 5pm on Friday as commuters tried to get home from work. Traffic lights, train [...]
Ryanair’s Irish pilots overwhelmingly back strike action August 9, 2019 Ryanair pilots in Ireland have voted overwhelmingly in favour of industrial action unless the budget airline agrees to trade union pay proposals by Monday. 94 per cent of members of the Irish Airline Pilots’ Association (Ialpa) who are directly employed by Ryanair voted in support of industrial action Members of the trade union had previously [...]
G4S to spin off cash handling business as it posts profit fall August 9, 2019 G4S has said it will spin off its cash handling business, a move which could see its armoured vans come off British streets, as the UK contractor posted a fall in pre-tax profit in half-year results today. The firm will now focus solely on its security business, through which it runs prisons and detention centres [...]
Car crash: Uber shows record loss in new results August 8, 2019 Uber disappointed investors yesterday as the ride-hailing app showed its biggest-ever loss, and slowest revenue growth. Second-quarter net loss hit $5.2bn (£4.3bn), widening from $878m, as the company paid up $3.9bn for its May listing. Read more: Lyft off: Ride-hailing app makes inroads as it beats expectations Finance chief Nelson Chai said the company had [...]
Rush hour nightmare: Severe delays hit four Tube lines amid Euston station shutdown August 8, 2019 Severe delays have hit several London Undeground lines this evening after a person was spotted on the track earlier today. Delays struck the Circle, Hammersmith and City, Jubilee and Metropolitan lines, Transport for London has said. Read more: Travel chaos strikes at Euston station Authorities said a trespasser had been on the tracks. Delays were [...]
Travel chaos strikes at Euston station August 8, 2019 Thousands of passengers have been stranded at Euston this afternoon as a signal failure caused severe delays on all lines out of the station. Train operators were trying to find replacement buses to get their passengers out of the station, National Rail said. The signal failures hit earlier this afternoon, with National Rail saying it [...]