EU clears Virgin’s Flybe takeover after buyer assuages monopoly concerns July 5, 2019 The Virgin-led acquisition of Flybe received the green light from the European Commission today. Read more: Connect Airways appoints new CEO ahead of EU approval Antitrust officials gave the go-ahead despite raising competition concerns regarding certain routes becoming so-called quasi-monopolies. Connect Airways – a consortium of Virgin Atlantic, Stobart Aviation and US private equity firm [...]
BMW chief executive set to step down July 5, 2019 Car giant BMW is set to start the search for a new chief executive after its boss said he will step down in April next year. Harald Krueger, 53, will leave at the end of his current five-year contract, the company said in a statement today. Read more: BMW flashes warning lights as mounting tech [...]
Person dies after being hit by Victoria Line train July 5, 2019 The Victoria Line is part suspended with severe delays this morning, causing severe disruption during rush hour after a person died after being hit by a train. Transport for London (TfL) warned commuters there was no service between Walthamstow Central and Seven Sisters while emergency services attended the incident. Severe delays hit the rest of [...]
John Menzies shares plunge after profit warning July 5, 2019 UK aviation services firm John Menzies has said it expects profits for the full year to be lower than the year before, citing challenges in the aviation market. Read more: Boeing 737 Max jet hits fresh setback before test flights In a statement this morning the company said performance for the first half had been [...]
Thames Water execs pocket £800k bonus as 650 jobs at risk July 4, 2019 Top Thames Water executives are set to pocket nearly £800,000 in bonuses this year as the utilities firm prepares to cut 650 jobs. Thames Water yesterday announced that 350 employees could be made redundant and a further 300 roles may be phased out through an employment freeze and the termination of contractor roles. Read more: [...]
TfL gives Indian ride-hailing app Ola the green light July 4, 2019 Transport for London has given Indian ride-hailing app Ola the green light to launch in the city. Ola said it has received a private hire vehicle licence and planning to launch around September. Read more: French ride-hailing app Kapten puts Uber in its sights “We are looking forward to building world-class mobility offerings for London [...]
Ofwat hits out at water suppliers’ business plans July 4, 2019 London’s water supplier was among four slated by Ofwat this morning as the regulator said it was “disappointed” by the firms’ request for more money to cover costs. Thames Water, Anglian Water, Yorkshire Water, and SES Water were told that their business plans do not live up to the regulator’s expectations. Read more: Regulator Ofwat [...]
Low-emission car registrations fall for first time in two years July 4, 2019 UK registrations of alternatively-fuelled cars fell in June for the first time since April 2017, with a major industry body blaming confusion over low-emission zones and incentives. Read more: Hybrid and diesel car sales fall in May amid government policy confusion Overall new car registrations in the UK fell for the fourth month in a [...]
Poor records land Green Star Energy with £350,000 fine July 4, 2019 Energy supplier Green Star Energy was today slapped with a £350,000 charge after locked more than 1,800 customers out of their accounts. The fine includes £60 compensation for each household affected. Read more: Ofgem slaps suppliers Economy Energy and E with £850,000 fine for competition breaches A records failure meant it did not send welcome [...]
Ryanair traffic takes off despite Brexit gloom July 2, 2019 Irish airline Ryanair carried eight per cent more passengers on its planes last month, it revealed today. The budget carrier said it served 13.6m passengers, up from 12.6m in the same period last year. It was spread across 78,000 flights. Read more: Wizz Air grows passenger numbers amid route expansion Earlier this year the company [...]