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 [...]
Boeing suffers further setback as Virgin Australia delays 737 Max deliveries April 30, 2019 Virgin Australia will delay taking deliveries of Boeing’s 737 Max for nearly two years, in a move designed to cut spending and buy the airline time to satisfy itself the plane is safe. Read more: Airbus profits plummet despite turning up the heat on Boeing Chief executive Paul Scurrah, who stepped into the role five [...]
Airbus piles pressure on Boeing but faces turbulence of its own amid Saudi arms ban April 30, 2019 Airbus shares fell this morning as it reported plunging profits after cancelling production of its A380 superjumbo jet. Read more: Airbus and Boeing set for record-breaking year But the firm’s underlying earnings and revenue gained height as it looked to capitalise on arch-rival Boeing’s grounded 737 Max fleet by ramping up manufacturing of its equivalent narrow [...]
Scrap franchise system and let TfL control London commuter routes, says rail industry April 29, 2019 The rail franchise system should be scrapped and responsibility for commuter routes handed from central government to local authorities such as Transport for London (TfL), the rail industry has said. The Rail Delivery Group (RDG), which represents the industry, has today unveiled its proposals for the Williams rail review, which transport secretary Chris Grayling called last [...]
Southend Airport eyes 2.5m passenger target this year amid growth spurt April 29, 2019 London Southend Airport owner Stobart Aviation has set its sights on reaching 2.5m passengers this year and 5m by 2023, in a move that would take it closer to its rival London City Airport (LCA). Southend Airport, which grew nearly 40 per cent last year, said the addition of EasyJet and Ryanair, which started flying from [...]
A new book about austerity has put Keynesian economists on the defensive April 29, 2019 Notoriously, economists quarrel about almost everything in their subject. But since the publication of John Maynard Keynes’ General Theory of Employment, Interest and Money in 1936, they are supposed to agree on one point: that increases in government spending boost demand and output, and reductions in government spending depress them. Indeed, according to the theory, a [...]
Siemens and Babcock among winners of £750m Network Rail signalling contract April 29, 2019 Network Rail has awarded contracts collectively worth £750m to companies including Siemens and Babcock to to deliver signalling and telecoms across the UK. The contracts are for projects such as stand-alone level crossings, stand-alone major telecoms and related civil works. Other firms to pick up the contracts include VolkerRail Special Businesses, Atkins, Linbrooke Services and Colas Rail. Signalling [...]
Bish bash Bosch: German auto supplier signs deal to work with Powercell on HGV fuel cells April 29, 2019 Bosch said today it has reached a licensing agreement with Swedish firm Powercell to work together on mass producing hydrogen fuel cells for trucks and lorries. Read more: Toyota sells electric car tech to startup in return for China green credits The German company, which is a major supplier to global car and lorry makers, [...]
Online car dealer firm Auto Trader announces board shakeup with retirement of CEO April 29, 2019 Online car ad group Auto Trader has promoted its finance boss as its new chief executive following the decision of the incumbent Trevor Mather's decision to retire. Mather will retire from the positions of CEO and director on 31 March 2020, allowing Nathan Coe, who is the current chief operating and financial officer, to take [...]