Thomas Cook shares take off on potential Fosun deal June 10, 2019 Thomas Cook shares soared more than 18 per cent this morning after the travel agent confirmed it was in talks with Fosun International over the sale of its tour operator business. The Chinese tourism company, which is Thomas Cook’s largest shareholder, has approached the company over a potential takeover. Read more: Fosun lines up bid [...]
First Group ‘may sue government’ if no deal on South Western Railway franchise contract June 9, 2019 First Group is open to suing the government if the two cannot agree terms on its South Western Railway franchise. Responding to reports the company could bring legal action, a spokesperson said any suggestions of this were “purely hypothetical”. First Group’s new boss Matthew Gregory had told the Sunday Times if the two sides could [...]
Fosun lines up bid for Thomas Cook tour operating business June 8, 2019 Thomas Cook’s biggest shareholder, Fosun Tourism Group, is in talks to take over the struggling firm’s tour operating business. The Chinese owner of Club Med owns 18 per cent of Thomas Cook already, and is now in talks to make a bid for the majority of its business, according to Sky News. Read more: IAG [...]
France consider selling Renault stake to aid Nissan alliance June 8, 2019 France is ready to cut its stake in Renault in order to help the car company consolidate its partnership with Nissan. The state currently owns a 15 per cent share in Renault, but French finance minister Bruno Le Maire is ready to reduce that if it leads to a “more solid” alliance between the firms, [...]
Ofgem urged to extend prepayment price cap due to smart meter delays June 7, 2019 The competition watchdog has urged Ofgem to extend protection for prepayment consumers beyond the end of 2020 due to the delayed roll-out of smart meters. The Competition and Markets Authority (CMA) implemented a temporary prepayment price cap in 2017 in a bid to reduce customers’ bills by around £300m a year. Read more: Ofgem won’t [...]
Chaos hits commuters with severe Tube delays June 7, 2019 Commuters faced a dire journey into work this morning after signalling problems left three Tube lines suffering severe delays. Read more: These are the Tube’s most stressful stations The Circle Line and Hammersmith & City Line had severe delays along their entire lines this morning after the problem. Meanwhile the District Line had severe delays [...]
Sunny markets beckon for London energy supplier Bulb June 6, 2019 London-based energy supplier Bulb will export its concept abroad, it said today as Britain’s challengers look to do for foreign markets what they have in the UK. Bulb will take its first tentative steps into France, Spain and Texas, starting with an invitation-only service, it said today. It plans a general launch in the markets [...]
Chris Grayling launches HS2 review to boost links with north June 6, 2019 Transport secretary Chris Grayling has kickstarted a review into how the second phase of HS2 could be more efficient and cost effective as the project’s fate hangs in the balance with the ongoing Tory leadership election. The government is seeking views on proposed changes to the route north of Birmingham, including two new junctions to [...]
Collapse of car mega-merger poses headache for France’s Macron June 6, 2019 The Macron administration in France was forced to firefight today as it was accused of scuppering a multi-billion euro deal between Fiat Chrysler and Renault. A source close to Fiat Chrysler (FCA) today blamed the French government for succumbing to domestic pressures. It presents a headache for Emmanuel Macron, who won a presidential run in 2017 [...]
IAG kickstarts search for best budding aviation start-ups June 6, 2019 British Airways owner IAG has launched its latest global accelerator programme for budding aviation startups. The Hangar 51 programme, launched in collaboration with IAG brands Iberia and Vueling, will be based in Spain this year. It will seek out start ups from around the world who will work with mentors and experts from IAG to [...]