Stobart shares soar 10 per cent after firm gives upbeat outlook despite losses May 29, 2019 Stobart shares have soared by more than 10 per cent this morning following the release of its latest financial results showing promising growth at Southend Airport. Stobart did however see a plunge in its pre-tax profit as it counted the cost of a long legal battle as well as a long list of expensive writedowns. Read [...]
Freebike to launch electric bike-sharing scheme in the City May 28, 2019 Electric bike company Freebike is set to launch a dockless bike-sharing service in the Square Mile after securing a contract with the City of London Corporation. The pedal-assist electric bikes will allow workers to travel around the City using the Freebike app or by swiping a contactless card, with a pause facility enabling users to [...]
Centrica launches new tariff for business customers to charge their electric cars May 28, 2019 British Gas owner Centrica has launched a new power tariff for business customers looking to charge their electric vehicles as the UK prepares for the switch to plug-in cars. More than three quarters of businesses plan to start shifting towards electric vehicles (EVs), Centrica said today as it launched an EV product aimed specifically at companies. Read [...]
Dutch flag carrier airline KLM Royal Dutch to partly use low-emission aviation fuel May 28, 2019 The Netherlands’ flagship airline is to pump millions of euros into building Europe’s first factory for producing sustainable aircraft fuel on an industrial scale. KLM Royal Dutch Airlines said the plant would use regional waste and excess materials such as cooking oil to make bio-kerosene. Using this rather than standard plane fuel reduces CO2 emissions [...]
P&O Ferries sues government for £33m over Eurotunnel settlement fallout May 28, 2019 P&O Ferries is suing the government for £33m over its decision to settle a challenge against its no-deal Brexit ferry contracts. P&O wants the government to cancel the £33m it paid out to rival operator Eurotunnel, which challenged the Department for Transport's (DfT) decision to award a contract for ferries in a no-deal Brexit to [...]
London Stansted is the UK’s worst airport for flight delays May 28, 2019 Flights departing from UK airports were subject to delays of an average of 16 minutes last year, with London Stansted airport topping the list. Read more: Heathrow Airport sees April passenger numbers soar to 6.8m Planes leaving Stansted airport were delayed by 25 minutes on average in 2018, an analysis of Civil Aviation Authority data [...]
Flybe boss to step down after airline’s sale to Connect Airways May 28, 2019 The boss of Flybe has announced she will step down in mid-July following the sale of the ailing airline to a consortium led by Virgin. Christine Ourmières-Widener will stand down as chief executive on 15 July following Flybe's sale to Connect Airways, which is led by Virgin Atlantic, Stobart Air and hedge fund Cyrus Capital. [...]
UK’s richest men back London firm that harvests energy from footsteps May 28, 2019 The UK’s richest men have thrown their support behind a technology which transforms footsteps on a pavement into electricity. Hinduja Group, run by brothers Sri and Gopi Hinduja who topped the Sunday Times Rich List earlier this month, is supporting a £5m fundraise by Pavegen. The company’s pavement slabs transform the kinetic energy from footsteps [...]
Bombardier in line to win €2.3bn Cairo monorail contract May 28, 2019 Canadian firm Bombardier has been named as the preferred bidder for a €2.3bn (£2bn) contract to build a monorail system in Egypt’s capital, and said it would make the trains in Britain. Read more: Airbus boss cagey over Bombardier Northern Ireland plant If successful, Bombardier’s transportation arm would bag a design and build contract worth €1.2bn [...]
China’s giant Belt and Road infrastructure push ‘could pump $7 trillion into global GDP’ by 2040 May 27, 2019 China’s monumental state-backed infrastructure investment scheme could inject $7.1 trillion (£5.6 trillion) a year into the global economy – or an extra 4.2 per cent of global expected GDP – by 2040, according to economists. The controversial Belt and Road Initiative (BRI), which sprawls across Asia, Africa and Europe, has sparked concerns the superpower is [...]