Ford announces 7,000 job cuts as US car maker moves up a gear in restructuring plan May 20, 2019 Ford is to cut around one-tenth of its global salaried workforce by the end of August as part of a major global restructuring plan. Read more: Ford gears up to announce up to 550 white collar job losses in UK The move to shed 7,000 workers this summer is expected to save the firm $600m [...]
Jaguar Land Rover suffers £3.6bn annual loss as key Chinese market splutters to a halt May 20, 2019 The Indian-owned British automotive giant Jaguar-Land Rover (JLR) has posted a £3.6bn annual loss as the faltering Chinese car market weakened significantly. The annual figures were heavily-impacted by a £3.1bn write down in the third quarter, to cover falling demand for newer models, as well as for diesel-powered cars. The figures The car manufacturer, which [...]
Airline and travel stocks take a hit following Ryanair profit drop May 20, 2019 Airline and travel stocks have taken a tumble following Ryanair's profit slide, which it blamed on Brexit uncertainty and stuff competition in Europe. Holiday firm Tui is the biggest faller on the FTSE 100 today, with its shares down 3.79 per cent at the time of writing. Easyjet shares were down just over two per [...]
Time you’ll never get back: Passengers lost record 4m hours to train delays last year May 20, 2019 Rail passengers lost a record of four million hours to train delays last year, the worst since records began, a consumer watchdog has found. Over 8m passenger journeys were delayed last year, equating to around 80 train delays per day. Cancellations, meanwhile, averaged 660 per day in 2018, the highest number since records began in [...]
Commuters suffer London train delays as new rail timetable arrives May 20, 2019 Commuters were hit with their first batch of disruption into London this morning on the same day nationwide timetables were overhauled. Read more: Commuters urged to plan travel as new rail timetable comes into force Speed restrictions were put into place at Wimbledon due to a faulty track, forcing trains to terminate at Basingstoke, where [...]
Greenpeace activists blockade BP’s London offices in climate change protest May 20, 2019 Environmental protesters have blockaded BP’s central London headquarters this morning as they claim “this is a climate emergency”. Read more: Extinction Rebellion founder wants to upend the UK's financial sector Greenpeace activists have set up five steel containers outside all entrances to BP’s offices in St James's Square, W1. On Twitter, the group said: “Volunteers have [...]
Ryanair shares drop as profits suffer 30 per cent hit on falling ticket prices May 20, 2019 Irish budget airline Ryanair said today its full year profit fell 29 per cent year on year to €1.02bn (£890m), blaming a fall in fares and issuing a "cautious" warning on profit for the year to come. Shares fell nearly six per cent to hit €10.16 in early trading. The figures The airline said traffic grew [...]
Walking the walk: The City is on a journey to revolutionise transport in the capital May 20, 2019 For Londoners, complaining about public transport is as commonplace as complaining about the weather. The City of London is the most accessible part of the capital, served by 15 Tube stations, seven Tube lines, eight mainline stations, multiple bus routes, and a fast-evolving bicycle network, but with a working population of 513,000 and home to [...]
Energy switching reaches record high as customers’ bills balloon May 20, 2019 Nationalising the UK’s energy infrastructure will jeopardise the country’s energy transition and could drive up prices, the head of the sector’s trade body has said as record numbers of households switched suppliers last month. More customers switched energy supplier in April than ever before after average bills leapt up by £117 for millions of customers [...]
US investor urges First Group to split and pull out of ‘destructive’ UK rail network May 19, 2019 Activist hedge fund Coast Capital has issued a list of demands against First Group, including that it pull out of Britain's railways, split its UK and US assets and overhaul its board. Coast, a top ten shareholder in First, has said the group should separate its US assets, which it claims have a "much higher independent [...]