Thank Yu very much: Yu Group soars as FCA drops investigation into £10m accounting black hole May 16, 2019 Yu Group shares jumped by more than four fifths today as the Financial Conduct Authority dropped an investigation into the energy company. The FCA decided to take no action against Yu over an accounting error which cost the company £10m last year. Read more: Yu Group shares plunge 80 per cent as it warns profits [...]
TfL rakes in £220,000 a day from mayor Sadiq Khan’s Ulez pollution charge May 16, 2019 Transport for London (TfL) is earning nearly £220,000 a day from the new Ultra-Low Emission Zone (Ulez), which charges vehicles if they do not comply with strict pollution standards in the capital. Read more: Sadiq Khan's Ulez charge lands: How much will London drivers pay? Around 17,400 cars a day paid the £12.50 charge to [...]
French ride-hailing app Kapten puts Uber in its sights as it launches in London May 16, 2019 French ride-hailing app Kapten has taken a swipe at Uber after launching in London this morning. Read more: Uber IPO: Shares slide again on second day of trading The private-hire vehicle company, formerly called Chauffeur Prive, has set up shop in the capital after winning approval from Transport for London. The firm, which is backed [...]
Lift off: Flying taxi startup hopes to revolutionise city travel by 2025 May 16, 2019 Ever been stuck in a traffic jam, wishing you could take to the skies and leapfrog the gridlocked cars below? German startup Lilium hopes that by 2025, it will let you do just that, after staging a successful maiden flight of a prototype five-seater flying taxi, capable of whisking passengers from place to place above [...]
Tube delays: Commuters face Tube misery as severe delays hit two lines May 16, 2019 Commuters were left to suffer a torrid journey to work this morning with two key Tube and transport lines suffering severe delays and one part suspended. The Bakerloo Line was running with severe delays after a signal failure at Queen’s Park this morning. At 11am it was still running minor delays. Read more: Commuter chaos: Severe [...]
Thomas Cook share price crashes as it suffers ‘grim’ £1.45bn loss and issues fresh profit warning May 16, 2019 Thomas Cook shares plunged today as it issued a fresh profit warning and revealed a stunning £1.45bn loss in the six months to the end of March, after booking a £1.1bn goodwill impairment relating to a merger from over a decade ago. Read more: Thomas Cook shares leap following Lufthansa bid for airline business The [...]
Logistics firm Wincanton raises profits despite fall in revenue May 16, 2019 Small cap logistics firm Wincanton boosted profits in its latest financial year despite slipping revenues, sending shares up 1.6 per cent to 260p in early trading. Read more: Wincanton cashes in on Brexit uncertainty The figures Profit before tax increased 6.3 per cent year on year to £49.3m in the 12 months to the end [...]
Storms and abandoned nuclear projects take chunk out of National Grid profits May 16, 2019 Profits fell by a third at National Grid last year it said a day after being thrown into the centre of a debate over nationalisation. The figures The FTSE 100 grid operator lost 31 per cent of its profit before tax, down to £1.84bn in the year ending March, it said this morning. Read more: [...]
Cost overruns mean London may suck up benefits of HS2 and short-change the north, Lords warn May 16, 2019 London risks reaping all the rewards from HS2, leaving the north "short-changed", a stinging House of Lords report has warned today. The costs of the £56bn railway "do not appear to be under control" and the government must find ways to reduce them so that the second phase of the railway, based in the north, definitely gets built, [...]
Labour plans to nationalise power grid would delay green transition, firms say May 15, 2019 The businesses which supply power to British homes have hit out at Labour after it revealed plans to bring the electricity grid back into public hands. National Grid, which has run the networks since privatisation in 1990, today took aim at the party’s ambitions, saying its business was creating a framework to help Britain reduce its [...]