Crossrail’s 2021 delay to cost TfL an extra £1bn in lost revenue, says Moody’s May 1, 2019 The delay to Crossrail until 2021 will cost Transport for London (TfL) £1bn in lost revenue, according to influential rating agency Moody's. The £1bn figure is between £300m-£400m more than TfL had forecasted in its 2018 business plan, published after the announcement in the summer that the £17.6bn railway would not open that December as planned. Read [...]
Government cancels no-deal Brexit ferry contracts at £50m cost to taxpayer May 1, 2019 The Department for Transport (DfT) has cancelled its no-deal Brexit contracts with ferry companies, racking up heavy costs for the taxpayer. Read more: Government ferry contracts to cost millions more if Brexit is delayed The government last year spent more than £100m chartering extra ferries to ease congestion in the Channel in the event that [...]
Prepare for take off: Heathrow airport expansion cleared by High Court May 1, 2019 The government today won a legal battle that had sought to stop its proposed £14bn expansion of Heathrow Airport. Read more: Revenue dips at Heathrow despite record passenger numbers Campaigners trying to block a third runway at the UK's biggest airport lost the High Court challenge after the court found that transport secretary Chris Grayling's airport national policy [...]
Revenue dips at Heathrow despite record passenger numbers May 1, 2019 London’s biggest airport Heathrow will invest almost £1bn in its facilities as it prepares for a ruling on a proposed third runway. The airport this morning said that profit before tax fell nearly 57 per cent to £57m in the first three months of the year, but rose 73 per cent on an adjusted basis. Read [...]
Former car boss Ghosn ‘ran up €11m in suspicious expenses’ May 1, 2019 Embattled car boss Carlos Ghosn racked up costs of €10.9m (£9.4m) in questionable expenses including luxury clothing and lavish international travel, an audit carried out by Nissan and Renault has found. The audit highlighted millions of pounds in costs for items including Cartier watches and a trip to Brazil for the Carnival festival, according to [...]
Passengers face disruption at Luton Airport as Addison Lee drivers stage 24-hour strike May 1, 2019 Luton Airport passengers will face difficulty getting home today as Addison Lee drivers stage their first 24-hour strike over claims they are earning less than the minimum wage. Addison Lee was granted the exclusive right to operate at Luton Airport in 2012, meaning passengers will have few other options to get home by taxi if Addison Lee [...]
Private jet platform launches summer sale for trips from London to Paris, Ibiza and Geneva April 30, 2019 Flying by private jet might be one of the most lavish forms of travel, but this summer those who are lucky enough to have their own personal carrier can do so on the (relatively) cheap. Private jet booking platform PrivateFly has launched a summer sale that will allow its customers 30 to 50 per cent off [...]
Jaguar Land Rover moves production of historic Defender model to Slovakia April 30, 2019 Jaguar Land Rover has today continued its process of shifting vehicle production away from Britain, by announcing it will build the next generation of the Land Rover Defender at its Slovakia plant. Read more: JLR may make fresh British investment despite industry turmoil For 67 years, the 4×4 was made in the firm’s factory in [...]
Households face a £70m windfall after Ofgem launches automatic compensation scheme April 30, 2019 More than £70m is likely to be paid to customers each year as Ofgem announced an automatic compensation scheme in a bid to shore up confidence in the process of switching suppliers. From tomorrow, customers will be given at least £30 to compensate them for “erroneous switches”, and delays to refunds of their credit balances. [...]
Uber revamps app to offer London passengers a public transport option April 30, 2019 Uber is revamping its app to include public transport information that will allow users to compare journeys based on price and time. Using publicly available data from Transport for London (TfL), the app will grant users to access real-time information for services such as the Underground, Overground and DLR, which Uber says will allow them to [...]