Stagecoach chiefs take home top bonuses despite travel giant’s poor fortunes July 14, 2019 Stagecoach bosses took home maximum bonuses last year, despite the firm’s plummeting share price and loss of the East Coast main line rail contract. Read more: Stagecoach profits rise despite UK rail franchise loss Chief executive Martin Griffiths was paid £848,000 on top of his normal salary, bringing his total pay to £1.8m. Finance boss [...]
Grayling slammed for ‘trainwreck’ HS2 payout to Heathrow Airport July 14, 2019 Transport secretary Chris Grayling has again come under fire after giving Heathrow airport £9m to prepare for High Speed 2, despite uncertainty over the railway will go ahead. The Department for Transport (DfT) has preemptively committed to handing Britain’s biggest airport the money as compensation for knocking down a rail depot at Old Oak Common [...]
Labour will track investors to Hong Kong in nationalisation drive July 14, 2019 Labour’s shadow chancellor will pursue investors to Hong Kong if necessary in its bid to nationalise Britain’s swathes of the UK’s infrastructure. John McDonnell said his party would find a way to wrestle shares off those who try to hide behind international treaties. Read more: Labour plans to nationalise industries will cause ‘profound harm’ to [...]
Shutdown: Heathrow Airport summer strikes threaten chaos for holidaymakers July 12, 2019 Holidaymakers planning to use Heathrow Airport this summer could be subjected to days of chaos, after Unite trade union warned its members are planning to go on strike. More than 4,000 workers are set to walk out on 26 and 27 July, 5 and 6 August, and 23 and 24 August. They will include security [...]
Volkswagen and Ford strengthen ties by teaming up on electric and self-driving cars July 12, 2019 Two of the world’s biggest car makers, Volkswagen and Ford, have moved their existing commercial partnership up a gear this afternoon to collaborate on electric cars and self-driving cars. Read more: Ford gears up to announce up to 550 job losses for UK office workers amid turnaround efforts The firms are looking to pull ahead [...]
Daimler in fourth profit warning of the year over airbags and diesel emissions July 12, 2019 Daimler, the German car giant that owns Mercedes, this morning issued its fourth profit warning of the year after it unearthed fresh financial risks surrounding its diesel emissions scandal. The car maker made a similar warning on June 23, but it has reassessed the risk of fines from court battles and government measures. These have [...]
Jet2 owner Dart Group enjoys profits boost from package holiday business July 11, 2019 Dart Group, the owner of British airline and tour operator Jet2, posted a 36 per cent increase in pre-tax profits as it enjoyed a boost from its package holiday business. Pre-tax profits increased from £130.2m in 2018 to £177.5m for the year ending 31 March, which the company attributed to the “growing success” of its [...]
Ryanair’s chief operating officer to step down after 18 months in role July 11, 2019 Ryanair’s chief operations officer Peter Bellew is to step down after just 18 months in the role, in which he has overseen the airline’s fraught relationship with staff. Chief executive Michael O’Leary said in an internal memo to staff that Bellew, who quit the top job at Malaysia Airlines to return to Ryanair in December [...]
HS2 Birmingham: The £435m station nobody wants to build July 11, 2019 HS2 has abandoned its initial hunt for a contractor to build its Birmingham station, after firms were unwilling to take on the risks associated with the £435m job. The railway said it will rethink the procurement process for its Curzon Street station so as to reduce contractor risk and increase competition. Read more: Business leaders [...]
Heathrow cashes in on first month of holiday season as passenger numbers rise July 11, 2019 Heathrow Airport this morning said it has benefited from fuller planes at the start of the holiday season, pushing passenger numbers up in June. Britain’s biggest airport said it welcomed 7.25m passengers last month, up 1.7 per cent compared to June 2018. It marks the 32nd straight month of growth. Read more: Prepare for take [...]