Ryanair plane seized at Bordeaux airport by French civil aviation authority in row over cash November 9, 2018 French authorities have seized a Ryanair plane at Bordeaux airport in a dispute over money they say the Irish airline owes. The civil aviation authority grounded the Boeing 737 on Thursday, with the flight due to carry 149 passengers to Stansted. The row involves money the airline received as aid related to its activities at the regional airport [...]
It’s make or break for the telecoms sector’s shot at reform November 8, 2018 One of the great ironies of the telecoms industry is that, for a sector that is primarily focused on technological innovation and future infrastructure, certain aspects of it are decidedly backwards looking. There’s a clear divide between, say, the gathering momentum in the roll-out of ultrafast broadband and the distinct stasis when it comes to the [...]
Brexit uncertainty boosts Wincanton profits November 8, 2018 Logistics firm Wincanton reported strong results for the six months to the end of September as British companies scramble to prepare for a no-deal Brexit. The figures Wincanton’s revenue was up a marginal 0.1 per cent to £581.8m. Profit before tax rose 48 per cent to £30.1m. Cash flow was up to £33.5m from [...]
National Grid profits take a battering from stormy weather as UK restructure rolls on November 8, 2018 Utilities provider National Grid reported a six per cent fall in profits for the six months to 30 September today, partially attributed to storm-related costs and the cancellation of a new pipeline in Avonmouth. Underlying operating profit was £1.3bn, down £83m from the same period last year and of which £4m was attributed to foreign exchange [...]
Bombardier to cull 5,000 jobs and sell off $900m in assets November 8, 2018 Bombardier outlined plans to axe 5,000 jobs from its global operations and sell off $900m (£687m) in non-core assets today, sending its share price crashing down by 15 per cent. The Canadian plane and train manufacturer has launched a company-wide restructure focused on streamlining production and slashing costs as it flattens management structures. Around 5,000 jobs will [...]
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 [...]