Uber nabs former Merrill Lynch CFO as top finance boss in race to go public August 21, 2018 Ride-hailing giant Uber today filled the long-standing vacancy of chief financial officer, easing investor concerns ahead of its plans for an initial public offering (IPO) in 2019. The spot, which was left empty after its previous occupant Brent Callinicos departed in 2015, has been plugged by financial services veteran Nelson J. Chai. Chai joins Uber [...]
Flying taxis could be heading for London as German aviation firm opens discussions with the City August 21, 2018 Flying taxis transporting people around London could soon become a reality after a German aviation company said it was looking at how its autonomous vehicles could work in the City. Volocopter unveiled its air taxi infrastructure for cities – including landing stations on top of buildings, hotels, at transport hubs and shopping centres – earlier [...]
Back to school: Gatwick Airport displays flight information on whiteboards following IT glitch August 20, 2018 Gatwick Airport was forced to use whiteboards to relay information to passengers about their flights after an IT glitch caused its computer systems to break down yesterday. Passengers travelling at the UK's second biggest airport were hit with the problem from about 4.30am yesterday morning, although Gatwick was keen to point out that the IT [...]
Ride-hailing firm Ola kicks off operations in UK August 20, 2018 Uber rival Ola today launched its first services in the UK, as it started operations across South Wales in Cardiff, Newport and Vale of Glamorgan. The Indian firm, which has 125m customers worldwide, says it will offer drivers high introductory commission rates. Customers will also be given discounts on journeys using the ride-hailing app. The company said [...]
Why ports are crucial to an ambitious, globally successful Britain August 20, 2018 The United Kingdom was built on trade and our prosperity has long depended on the goods that travel through our great ports. But our ports also have a brilliant future in front of them. That is why we are proud to be associated with a new campaign initiative from our sector, UK Ports for International [...]
Sadiq Khan tells government: Give me the power to limit number of cars August 15, 2018 Mayor of London Sadiq Khan has demanded new powers to bring in a controversial cap on the number of private hire vehicles (PHVs) operating in the capital, following a similar clampdown in New York. Last week New York became the first major American city to introduce the one-year cap on cars used by platforms such [...]
Tory MPs hit back over rail fare hike August 14, 2018 The government has come under fire from Tory MPs for hiking train fares amid a growing dispute over the measure used to determine price rises. Transport secretary Chris Grayling said tonight the government will “freeze regulated fares in line with inflation” for the sixth year running, a move that will potentially add hundreds of pounds to [...]
Nasa successfully launches Sun-touching Parker solar probe from Florida August 12, 2018 Nasa has successfully launched a mission to send a satellite to "touch the Sun". The US space agency this morning launched the Parker solar probe satellite at 03:31 local time, or 07:31 GMT, from Cape Canaveral air force station in Florida. The spacecraft was named after living astrophysicist 91-year-old Eugene Parker, who explored solar wind [...]
Mixed record for Balfour as profits soar but project takes hit from Carillion collapse August 10, 2018 Balfour Beatty’s profits soared 69 per cent in the first half of 2018 in the wake of its long turnaround plan, despite additional £23m losses stemming from a project taken over after the collapse of Carillion earlier this year. Underlying profit from operations increased to £66m for the six months to the end of June [...]
Westminster council derails second Sadiq Khan project with legal challenge against CS11 Cycle Superhighway August 2, 2018 Construction works on a proposed cycle superhighway at a dangerous gyratory in north-west London have come to a grinding halt after Westminster council mounted a successful legal challenge against Transport for London (TfL) – derailing its second project this year. Work on the first section of Cycle Superhighway 11, which is intended to span [...]