Lufthansa profit rises after cost-cutting despite a tumultuous year of strike troubles March 16, 2017 Despite suffering costly long-running strike troubles, Lufthansa unveiled a net profit of €1.78bn last year, coasting into 2017 thanks to "effective cost reductions". The figures: In 2016, Lufthansa’s revenues declined 1.2 per cent to about €31.7bn from €32bn. Adjusted earnings before interest and tax (Ebit) also decreased by 3.6 per cent to €1.75bn. Net profits rose 4.6 per cent to [...]
Business Committee launches inquiry into electric vehicles to assess concerns over stalling sales March 16, 2017 The role of electric vehicles as part of the government's industrial strategy will be investigated by the Business, Energy and Industrial Strategy (BEIS) Committee. The BEIS Committee has launched an inquiry today to scope out the barriers to the market's development and look into concerns that sales and take-up haven't been "as advanced as they [...]
Toyota gives the UK a vote of confidence as it plugs £240m investment into its Burnaston plant with government support March 16, 2017 Toyota has signalled it is committed to manufacturing in Britain after announcing today it is plugging £240m into its UK operations in a bid to improve its Burnaston plant's competitiveness. The Japanese car firm said the investment into its plant near Derby will enable production of vehicles using its new global manufacturing system and promote UK [...]
The RMT slams Aslef’s fresh agreement with Southern rail as “the old deal in a new envelope” March 16, 2017 Secretive talks to reach a new agreement over the Southern rail strikes came to fruition yesterday, but the Rail, Maritime and Transport (RMT) union hasn't been won over. Train drivers' union Aslef and Southern's parent firm Govia Thameslink Railway (GTR) had been holding fresh talks in London after a previous agreement was dashed when members turned [...]
Eurostar reports £25m loss after terror attacks in Europe hit demand – but says US travel will get it back on track March 16, 2017 Eurostar suffered a £25m loss after a "challenging 2016", citing the aftermath of terror attacks in Europe and difficult trading conditions. But the high-speed rail service said the early signs of 2017 were positive thanks to a boost in US travel. Read more: It's full steam ahead for Eurostar's Amsterdam services The figures Last year proved a bumpy [...]
London Easter travel disruption is on the cards as Network Rail plans major rail works March 16, 2017 Thinking about getting the train over Easter? You might want to think again, as Network Rail is planning a whole host of works over the bank holiday weekend as part of its railway upgrade plan. Fewer people use services over Easter and Network Rail said it will deliver more than 200 projects across Britain thanks to the [...]
Balfour Beatty share price inches up as it returns to profit after two years of losses as order book grows 15 per cent March 16, 2017 Balfour Beatty has reported a profit for the first time in two years, after growing its order book by 15 per cent in the 12 months to 31 December 2016. The figures Underlying operating profit was £67m, following two years of losses, and pre-tax profit was £60m, compared with a £123m loss in 2015. Underlying [...]
Southern Rail and Aslef have agreed to a fresh deal to end strikes, but union members could still reject it March 15, 2017 Southern Rail and train drivers' union Aslef have agreed to a fresh deal, finally resolving their row over driver-only trains. However, it's not quite over yet. Aslef members still need to vote on the new terms, and the result will be announced 3 April. The union's boss is recommending members accept the deal. Mick Whelan, general secretary of [...]
Ranked: The world’s 20 best airports (spoiler – Heathrow has swooped lower) March 15, 2017 Heathrow airport has been named the world's top airport for shopping by Skytrax’s World Airport Awards for the fifth year in a row – but has fallen in the overall ranking. Heathrow fell from eighth place in 2016 to ninth in this year's overall ranking, although it was also voted the best airport in Western Europe [...]
Audi’s HQ raided by German police in Dieselgate swoop as its CEO Rupert Stadler announces earnings for 2016 March 15, 2017 Audi's two biggest plants were searched by German prosecutors today while its chief exec was announcing the car giant's earnings at its annual press conference today. Prosecutors from several jurisdictions and state police from Bavaria, Baden-Wuerttemberg and Lower Saxony carried out the raids, according to Reuters. VW, Audi's parent company, has drawn criticism amid the so-called [...]