Stephan Shakespeare: Easyjet’s had a bumpy ride, but what do flyers think? April 3, 2019 With Brexit set on autopilot and seemingly heading direct to no-deal, budget airline Easyjet can see turbulence ahead. The company told investors higher fuel costs and increasing overheads per seat, paired with passengers’ unwillingness to risk booking a holiday during the current political crisis, had damaged business and led to losses. Although management reassured shareholders [...]
Ford’s British operations hang in the balance as no-deal Brexit looms large April 2, 2019 Ford has delivered the latest warning for the UK car industry after Brexit, saying it has yet to decide on its longer-term plans in Britain. The second-biggest US car maker said this morning it was already spending tens of millions of euros preparing for a possible no-deal scenario, in which case it would have to [...]
UK construction sector shrinks for second consecutive month April 2, 2019 Britain’s construction sector contracted in March for the second month in a row, it was revealed today, as a slowing commercial market and Brexit uncertainty weighed on the sector. The construction purchasing managers’ index (PMI) stood at 49.7 in March compared to 49.5 in February, the first back-to-back fall in output since August 2016. A score of [...]
Ryanair traffic soars despite challenging results April 2, 2019 Ryanair’s traffic grew nine per cent year-on-year last month as passenger numbers hit 10.9m in March. Traffic is nine per cent up over all this year, as the rolling annual total is 132.1m, up from 130.3m in the year to March 2018. Read more: O'Leary hopes to 'reboot' Ryanair reputation by taking a step back [...]
Ghosn requests separate trial from Nissan as inquiries heat up April 2, 2019 Former Nissan chairman Carlos Ghosn will not get a fair trial unless he is tried separately from the car manufacturer, his lawyer has said. “No matter how you look at it, having Ghosn sit alongside Nissan at the trial would be peculiar, it would go against his right to a fair trial,” Junichiro Hironaka told [...]
Wizz Air flies past airline gloom with upbeat profit predictions April 2, 2019 Ftse 250 airline Wizz Air said it expects net profit for the year to land in the upper half of its expected guidance, in a trading update today. The announcement follows a gloomy update yesterday from fellow low cost airline Easyjet which led to a nearly 10 per cent dip in its share price, and [...]
Lyft shares drop below opening price on second day of trading April 1, 2019 Shares in ride-hailing app Lyft dropped below their opening price today in the first sign of jitters over the company’s hefty $24bn (£18bn) valuation. The tech firm’s share price dropped as much as 11 per cent to $69.40 – below the initial public offering (IPO) price of $72 – before clawing back some ground. Read [...]
Hedge funds take out £86m bets against British Gas owner Centrica March 31, 2019 Hedge funds are taking out record bets against British Gas owner Centrica as the energy sector faces challenges from Ofgem’s price cap. The cap, which increases from tomorrow, has put pressure on suppliers’ margins. Read more: UK must decarbonise heating, Centrica boss says Disclosed so-called short positions in the Big Six energy supplier have risen [...]
Last minutes of doomed Ethiopian Airlines jet emerge March 30, 2019 Details of the last minutes of the Ethiopian Airline jet that crashed earlier this month killing all 157 people on board have emerged. According to a report in the Wall Street Journal, the Boeing 737 Max began to run into difficulties shortly after take off on the 10 March flight between Addis Ababa and Nairobi [...]
Eurostar services suspended because of pro-Brexit protester at St Pancras March 30, 2019 Eurostar services were suspended this morning after a pro-Brexit protester trespassed on the railway. Eurostar said this morning that services were suspended and urged passengers not to travel. https://twitter.com/Eurostar/status/1111889309727113216 Read more: Eurostar could be 'plunged into chaos' in no-deal Brexit It later said the trespasser had been apprehended but still said people should avoid travelling [...]