Ride-hailing app Lyft set to raise $2bn in New York float March 18, 2019 Ride-hailing platform Lyft expects to raise as much as $2bn (£1.5bn) when it floats on the New York Stock Exchange later this month. In a filing the firm said its initial public offering (IPO) will consist of 30.7m shares priced between $62 and $68, meaning it could raise a total of $2.4bn. Read more: Lyft [...]
The answer to the UK’s renewable energy future is blowing in the wind March 18, 2019 The UK’s offshore wind sector is booming. Auctions for new capacity held in 2017 resulted in deals at half the price of those signed just two years prior, while we are seeing a steady drumbeat of new records relating to clean power production. Just last month, the world’s largest offshore wind farm began generating power. Anchored [...]
Oman Air beats British Airways to top Heathrow’s greenest airlines league March 18, 2019 Oman Air has topped Heathrow Airport's league of green and quiet airlines, beating rivals such as British Airways and Etihad Airways. Oman's flag carrier landed itself at the top of the league after it phased out its older aircraft and replaced it with the ultra-quiet and green Boeing 787 dreamliner. The Heathrow "fly quiet and [...]
Eurostar warns customers not to travel due to French custom worker strikes March 17, 2019 Eurostar has warned customers not to travel due to chaos caused by striking French customs workers in Paris. The operator cancelled four trains from Paris to London today will not run a further three services tomorrow, with disruption expected to continue until Wednesday. Read more: Eurostar sees 12 per cent growth in business passenger numbers Customs [...]
Government ferry contracts to cost millions more if Brexit is delayed March 16, 2019 The government will have to spend tens of millions of pounds more than it already has to maintain the ferry contracts it has in place for a no-deal Brexit, if as expected the UK's exit from the EU is delayed. The Department for Transport (DfT) agreed deals with three separate suppliers for additional freight capacity on ferries [...]
Heathrow boosts passenger numbers for 28th month in a row as London Fashion Week attracts tourists March 15, 2019 Heathrow Airport saw record rates of passenger traffic growth for the 28th month in a row in February as 5.48m travellers used the airport, up 1.7 per cent from the same time last year. The record-breaking streak was helped by London's Fashion Week, which invited visitors from 49 countries around the world to see collections from more [...]
We Work poaches Uber’s UK manager Tom Elvidge to serve as COO March 15, 2019 Uber's UK and Ireland general manager has left the ride-hailing app to join tech workspace firm We Work as its new chief operating office for Europe. Tom Elvidge is replacing current COO for Europe, Anthony Yazbeck, who will become COO of We Work International. “WeWork is a truly exciting company that's changing the way we work, live and [...]
Outsourcer Interserve falls into administration after shareholders reject rescue deal March 15, 2019 Interserve has fallen into administration after shareholders roundly rejected a rescue deal designed to relieve it of a more than £630m debt pile. The public outsourcer has announced it expects to fall into the hands of administrators after investors voted to reject its proposed deal by 59 per cent to 41 per cent at a general meeting this morning. Earlier [...]
Tesla launches new Model Y to enter SUV market March 15, 2019 Tesla has officially launched its second mass-market car, the Model Y. The electric vehicle was unveiled in Los Angeles on Thursday with the company announcing that the first release will be a long-range version at a price of $47,000 (£35,489). It will be able to travel up to 300 miles before it needs recharging, whereas [...]
Government pours nearly £600m into housing around Old Oak Common and Brent Cross stations March 14, 2019 Nearly £600m will be poured into housing projects near key railway stations, housing minister James Brokenshire has announced. Up to £250m will got towards the construction of up to 13,000 new homes close to the new HS2 railway station at Old Oak Common, near East Acton. The new station at Old Oak Common is set to open [...]