DEBATE: Should we really be that excited about the launch of 5G? May 31, 2019 Should we really be that excited about the launch of 5G? Leon Emirali, an entrepreneur and investor, says YES. 5G is well worth the wait. While there is no doubt that extra-fast internet speeds will be welcomed by consumers, we must look beyond our own mobile devices to see the real benefits of the 5G revolution. [...]
Uber loses $1bn in first quarterly results since stock market float May 30, 2019 Uber has reported a $1bn (£790m) loss in its first quarterly financial report as a public company, despite revenue rising by one-fifth. Read more: Uber partners with insurtech start-up to offer digital insurance The loss will not come as a surprise to investors in the ride-hailing giant, after it already predicted the figure in a [...]
Government target ‘infeasible’ as smart meter rollout slows May 30, 2019 The government’s target of installing a smart meter in every home by 2020 is “implausible,” experts have warned as new figures show the rollout slowed last quarter. Just over 1m smart meters were installed in the first three months of the year, the Department for Business, Energy and Industrial Strategy confirmed today, a 6.7 per [...]
RMT rail union to stage five-day strike on South Western Railway in June May 30, 2019 Workers on the embattled South Western Railway (SWR) will strike for five days in June over a dispute with the role of guards on trains. The strike will take place from 18 June, rail union RMT said. The RMT has told its guards and drivers to not book on for duty for 24 hours on [...]
Outsourcer Amey agrees terms for £300m deal to escape Birmingham roads contract May 30, 2019 Contractor Amey is close to reaching a £300m agreement that would see it pay its way out of a maintenance contract for Birmingham’s 1,600-mile road network, it is reported. Read more: Amey 'offers £300m' to Birmingham city council to escape road contract Amey’s deal with Birmingham City Council and the government will see it pay [...]
TfL awards £1bn Silvertown Tunnel contract to Aberdeen Standard-backed consortium May 30, 2019 A consortium comprising Aberdeen Standard Investments (ASI), Cintra and Macquarie Capital will build the £1bn Silvertown tunnel under the river Thames. The project, which will connect the Greenwich peninsula to Silvertown through an under-the-water tunnel, will come within Transport for London’s (TfL) ultra-low emission zone, meaning vehicles that do not meet certain emissions standards will [...]
Uber partners with insurtech startup to offer digital insurance May 30, 2019 Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers. Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. Read more: Uber facing £1bn VAT tax bill after HMRC opens investigation The startup [...]
Train delays and shoddy rail service are holding back British business May 30, 2019 Trains in the UK are rubbish. Okay, this isn’t really a surprise announcement, but neither is the “we’re sorry to announce that your train is delayed” when it blares over the tannoy on a regular basis. I’m sure this will fill many of you with the same sense of unbridled want-to-drive-a-tractor-through-the-ticket-office rage as it does [...]
First Group to sell off Greyhound arm amid activist pressure as losses narrow May 30, 2019 First Group has announced plans to sell parts of its operations including its US Greyhound buses. Shares in the FTSE 250 company, which has been facing pressure from an activist investor to split up the business, jumped 13 per cent per cent in early morning trading after it also announced plans to separate its First Bus operations [...]
Ofgem slaps suppliers Economy Energy and E with £850,000 fine for competition breaches May 30, 2019 Failed supplier Economy Energy has been slapped with a major fine by regulator Ofgem for breaching competition laws with E (Gas and Electricity) and consultancy Dyball Associates. The companies were fined a combined £870,000 by the regulator this morning after it found the two suppliers had agreed to not target each others’ customers through face-to-face sales. [...]