TfL urged to be ‘open’ with Londoners about Northern Line extension delay February 5, 2019 Transport for London (TfL) has been told to be "open" with Londoners about the reasons behind the Northern Line extension delay after boss Mike Brown said a revised opening date would have "no material impact" on its revenues. The extension, which will lengthen the Northern Line to Battersea and create 25,000 new jobs and 20,000 new homes, was scheduled to open next [...]
UK new car sales fall as electric and hybrid cars surge in popularity February 5, 2019 New car sales in the UK dropped fell in January as demand for diesel cars collapsed while hybrid and electric cars surged in popularity, industry figures released today show. The 1.6 per cent year-on-year drop follows a five month decline in sales, data from the Society of Motor Manufacturers and Traders (SMMT) reveals. Read more: DEBATE: [...]
Two thirds of Brits will switch energy supplier if price cap rise hits bills February 5, 2019 British households are preparing to shop around in anticipation of a rise to the government’s energy price cap later this week. Two thirds of Brits said they would switch suppliers if bills go up in the wake of the price cap increase, research from Opinium shows. Read more: Bills could change more than ever under government's [...]
The new 26-30 railcards have saved millennials over £3.4m since they launched in January February 5, 2019 Cash-strapped millennials have saved over £3.4m since the hotly anticipated 26-30 railcard launched at the beginning of this year. Between 2 January and 2 February this year, 440,863 journeys were made with the railcard, producing savings of £3,421,028. If this trajectory continues, customers will save on average a total of £281 a year. The 26-30 railcard, [...]
Shares in Gama Aviation dive after it reveals nearly $8m accounts overstatement February 5, 2019 Shares in Gama Aviation fell nearly 19 per cent this morning after it announced it had made a nearly $8m (£6.14m) overstatement in its accounts . The company said it had received two overpayments in error from its US associate Gama Aviation LLC for $5.75m and $2m in June 2018 and December 2017 respectively. Read [...]
Thomas Cook joint venture secures €51m from Spanish bank to fund hotel investments February 4, 2019 Thomas Cook has secured €51m (£45m) in funding from Spain's CaixaBank to build new hotels in Spain and the Mediterranean. Thomas Cook Hotel Investments (TCHI), the travel group's joint venture with LMEY Investments, today secured its second round of debt funding, taking the total amount raised in the last three months by TCHI to €91m after Piraeus Bank [...]
HMRC says EU goods will be waved through UK ports without checks in event of no-deal Brexit February 4, 2019 HM Revenue and Customs (HMRC) has said EU imports will not be subject to extra checks at UK ports in the event of a "no deal" Brexit. In recent months freight companies have warned that leaving the EU without a deal would lead to miles-long queues at major ports such as Dover due to the possibility [...]
Government could pull £60m support package for Nissan as X-Trail production moves to Japan February 4, 2019 The government may withdraw a multi-million pound support package for Nissan after the car manufacturer ditched plans to build its new fleet of SUVs in Sunderland. Ministers are considering pulling a £60m package offered to the car manufacturer after it pledged to keep production in the UK after Brexit, the Times reported. Read more: Nissan [...]
Flybe to give investors a vote on chairman’s future as major shareholder applies pressure over Virgin bid February 4, 2019 Flybe will ask shareholders to vote on whether or not to remove its chairman as the struggling airline tries to keep a cut-price takeover on course in the face of investor pressure. The budget flyer, which is set to be taken over by a group led by Virgin Atlantic, has agreed to set a date [...]
Ryanair falls to €20m loss as O’Leary signs new five-year contract February 4, 2019 Budget airline Ryanair today said it suffered a €20m (£17.5m) loss in the third quarter of its financial year, blaming weaker ticket prices. The airline also said that longstanding chief executive Michael O’Leary had signed a five-year contract for the role of group chief executive, as the company moves to a new structure. Read more: Ryanair [...]