Earn thousands from your car as the world’s biggest car-sharing platform launches to vehicle owners in the UK September 24, 2018 Car-sharing service Turo, which matches renters with car owners, hopes to sign up many of the UK's 30m cars after it launches to the general market on Tuesday. Currently available to commercial renters in 56 countries, the company has attracted four million renters and owners this year, doubling its user base. Dubbed the ‘Airbnb [...]
Competition watchdog says proposed minicab cap would lead to fare hikes for Londoners September 24, 2018 The competition watchdog has criticised proposals to grant councils the power to cap the number of minicabs in the capital following a plea last month by London mayor Sadiq Khan. The Competition and Markets Authority (CMA) was responding to a government-commissioned review into taxi and PHV licensing after stakeholders suggested that current legislation was no longer fit for purpose. [...]
Travel warning: Piccadilly Line hit by severe delays September 24, 2018 Severe delays are affecting the Piccadilly Line, following a signal failure. The failure at Holloway Road has affected the entire line, just in time for the rush hour commute home. Transport for London (TfL) has recommended people take alternative routes as its engineers work to fix the problem. https://twitter.com/piccadillyline/status/1044245076237520897 The news comes before the Piccadilly [...]
Volvo ends Iran truck operations over US sanctions September 24, 2018 Swedish truck maker AB Volvo has ended operations in Iran because newly imposed US sanctions have stopped the company from getting paid. Volvo has stopped truck assembly in the country, having previously earmarked Iran as its main export hub for the Gulf and North American markets. It comes after US sanctions were reimposed last month [...]
RMT union and TfL hold talks to thwart Piccadilly Line strike this week September 24, 2018 The RMT rail union and London Underground are holding talks at conciliation service Acas this morning to try and thwart a strike that will shut down the Piccadilly Line from Wednesday through to the weekend. The strike will force the entire line out of action from Wednesday 26 September until the Saturday. If the [...]
Gama Aviation shares drop after profits slashed in half-year results September 24, 2018 Shares in Gama Aviation dropped by more than six per cent this morning as the company reported that profit halved over six months. Pre-tax profit dropped from $8.7m (£6.3m) to $3.2m in the six months to June 2017, and underlying profit dropped 5.7 per cent to $6.6m, however the company saw a rise in revenue from $101.6m [...]
TfL to lose out on £10m in advertising from Elizabeth Line delay in further blow to finances September 23, 2018 Transport for London (TfL) is to lose a further £10m in advertising from the delay to the opening of Crossrail, City A.M. can reveal. The £15.4bn Elizabeth Line was due to open this December but has been delayed until next autumn because of safety concerns and delays to signalling testing. TfL was relying on the line – [...]
Dyson writes off £46m on battery developer Sakti 3 September 23, 2018 Vacuum cleaner manufacturer Dyson has written off £46m on US battery developer Sakti 3. Dyson Technology bought the company, which is a spin-off from the University of Michigan, for $90m (£58m at the time) in 2015 as part of its strategy to develop an electric car. Read more: Dyson plugs £200m into driverless cars UK technology campus Accounts for [...]
John McDonnell: Labour will nationalise railways within five years September 22, 2018 Britain's railways could be taken back into public hands within five years if Labour wins the next general election, according to shadow chancellor John McDonnell. Ahead of Labour’s party conference which starts tomorrow, John McDonnell told the BBC he was looking at the possibility of breaking clauses in contracts to allow rail franchises to be [...]
John McDonnell: Labour will nationalise railways within five years September 22, 2018 Britain's railways could be taken back into public hands within five years if Labour wins the next general election, according to shadow chancellor John McDonnell. Ahead of Labour’s party conference which starts tomorrow, John McDonnell told the BBC he was looking at the possibility of breaking clauses in contracts to allow rail franchises to be [...]