Rapidly rising petrol costs are putting consumers off driving and pushing them to cut spending in other areas February 24, 2017 Higher pump prices have pushed UK consumers to spend less on their cars and cut back on driving. At the beginning of February, Britain's petrol prices rose to an average of 120p while diesel rose to 122p, and according to a new study, a quarter of drivers said they're now restricting their car use while [...]
Southern rail claims victory over the RMT, giving itself a pat on the back for its service February 24, 2017 Southern rail has labelled the ongoing industrial action by the Rail, Maritime and Transport union (RMT) as "impotent and ineffective", while bragging about how many trains it had managed to run in spite of the strikes. The RMT held its latest walkout on Wednesday, this time a 24-hour downing of tools, taking its tally to 29 strikes. Fears have resurfaced that [...]
Boeing is building its first European factory in Sheffield in a bid to “support the UK’s long-term prosperity” February 24, 2017 Boeing today announced it will invest £20m to open a new production facility in Sheffield – its first ever manufacturing facility in Europe – in an effort to support Britain's long-term prosperity. The facility is part of a plan to reduce supply chain costs by manufacturing key components and systems in the US and the UK in-house. The 2,300-square metre site [...]
British Airways owner IAG has revealed a share buyback programme after strong performance in 2016 February 24, 2017 British Airways and Aer Lingus owner International Airlines Group (IAG) revealed it will increase cash returns to investors with a share buyback programme after profit rose in line with expectations. The figures For the year to the end of December, the airline group's operating profit rose 8.6 per cent to €2.54bn (£2.15bn). But total revenue fell [...]
London: Our city of eternal resilience is not endangered by Brexit February 24, 2017 We have been here before. Seismic political or economic events strike like a tsunami; panic breaks out that London’s position as a leading world city is endangered. It happened in the aftermath of 2008’s financial crisis and it’s happening as Brexit looms. In 2009 the Economist observed magisterially, “Before the credit crunch, talk that London [...]
Norwegian launches a raft of new transtlantic flights from Belfast, Edinburgh and Dublin to the US February 23, 2017 Low-cost airline Norwegian has announced a series of new transatlantic flights from five cities in the UK and Ireland to the US, offering tickets from £69. In total, Norwegian is launching 10 new routes with 38 new transatlantic flights this summer from Edinburgh, Belfast, Cork, Shannon and Dublin. The flights will start on 15 June [...]
Ryanair launches biggest London winter schedule but underlines commitment to pivot growth away as Brexit looms February 23, 2017 Ryanair has launched its biggest ever schedule out of London to date, with three new routes from London Stansted. But the airline has also reiterated its commitment to pivoting growth away from Britain in the wake of the Brexit vote. The Irish carrier’s 2017 schedule will have three new routes from London Stansted to Aalborg [...]
PSA nearly doubles profits as it announces first dividend in six years ahead of Opel takeover February 23, 2017 As PSA's proposed takeover of General Motors' European business looms, the French maker of Peugeot and Citroen announced net profit nearly doubled last year. Read more: Unite plans to meet PSA on Friday for clarity over growing job concerns The figures The company posted better-than-expected full-year results and also announced it will pay shareholders the [...]
Gale force winds from Storm Doris are set to cause travel disruption across Southern rail routes today February 23, 2017 A storm is brewing on Southern rail. An actual storm. No, it's not fed-up passengers staging an intervention, but a warning that Storm Doris is going to cause some significant troubles on the network today. Passengers have been advised to check before travelling today as gale force winds from Storm Doris have prompted Network Rail [...]
National Express raises its dividend off the back of a surge in profits February 23, 2017 National Express has upped its dividend after announcing a 10 per cent rise in pre-tax profits, thanks to solid growth outside the UK. Read more: Mamma mia! National Express exits UK rail, leaving it to the Italians The figures Pre-tax profits of its continuing operations for the year rose 11 per cent to £136.3m, while pre-tax profits for [...]