BAE Systems’ 2018 forecast buoyed by Budget plans for military spending November 8, 2018 Aerospace giant BAE Systems has reiterated its forecast for flat earnings in 2018 while remaining upbeat about the progress of programmes in the UK and US. BAE was buoyed by Philip Hammond's most recent Budget in which he pledged an extra £1bn for defence between now and the end of next year to modernise key areas [...]
Brexit bilateral deals will create a ‘migraine’ for private aviation, says industry CEO November 7, 2018 Bilateral aviation agreements with the EU after Brexit would create a "migraine" for the private jet industry, the boss of global booking platform PrivateFly has said. PrivateFly chief executive Adam Twidell, a former RAF pilot who launched the business with his wife Carol in 2008, told City A.M. that the possibility of Britain striking a number of [...]
Don’t look now: UK car sales slump hits car dealer Lookers November 7, 2018 Car dealer Lookers reported positive trading today despite a fall in profit from new cars as the industry continues to reel from new regulations. Lookers said gross profit from new cars was down five per cent year on year in the nine months to the end of September, citing a shortage in supply following strict [...]
EE’s first 5G trials go live in new locations across these east London hotspots November 7, 2018 Mobile network provider EE, has today switched on nine trial sites for 5G technology across east London, in addition to an existing test site in Canary Wharf. These include spots such as Provost Street, City Road, Central Street, Old Street, Cheapside, St Paul's, Finsbury Circus, Clerkenwell Street and Bartholomew Square. EE, which is owned by [...]
Addison Lee launches self-driving taxi trials in Canary Wharf November 7, 2018 Private hire firm Addison Lee has begun trialling self-driving car technology, created by UK startup Oxbotica, on the streets of London. Driving around the skyscrapers of Canary Wharf, Addison Lee's manned cars are creating a three-dimensional street map of the city in order to create the backdrop for future driverless cars. Organised together with Canary [...]
Ryanair has its own private jet – and it’s yours to rent for £5,000 an hour November 7, 2018 It isn't an airline passengers normally associated with luxury, but Ryanair has announced that its own private jet is back in service to dispel the winter blues. Ryanair's corporate Boeing 737-700 is back in action for the winter season and now available for group hire – for £5,000 an hour, on top of taxes fees and charges. The [...]
The hyperloop train is leaving the station – and the UK must be on it November 7, 2018 Britain can reasonably claim to have invented the railway. Stephenson’s Rocket represented the pinnacle of British industrial-era innovation. The ability to move products and people by steam locomotion had a transformative effect on society. British ingenuity saw railways knit communities together across the country, and eventually the globe. And for the next couple of centuries, [...]
Budget airline Wizz Air downgrades profit guidance as higher fuel prices bite November 7, 2018 Budget carrier Wizz Air has downgraded its full-year profit guidance by 21 per cent due a surge in fuel bills of $80m (£70m). The figures Wizz Air's previous profit guidance was in the region of €310m-€340m but the airline now expects to make between €270m-€300m. In the six months to 30 September, Wizz Air carried 18.8m passengers, up 20 per [...]
US-China trade war hurts BMW profits as it pins hopes on electric cars November 7, 2018 BMW's profit before tax dropped dramatically in the third quarter amid challenges in the market and volatile global politics, the company said this morning. The figures Third quarter revenues grew by 4.7 per cent to €24.7bn (£21.5bn) compared to the previous year, while deliveries to customers rose modestly by 0.3 per cent. However, hit by [...]
Strike action hits Central Line and Waterloo & City Line, forcing commuters to find other ways to work November 7, 2018 Both the Central Line and Waterloo & City Line are not running today due to strike action. The strikes started at midnight after the RMT and Aslef unions voted for action to address industrial relations between drivers and Transport for London (TfL) that it claimed was at “breaking point”. The action will go on until [...]