We may not get an official decision on airport expansion until 2018 October 18, 2016 Theresa May won't hold the final vote on airport expansion until 2017/18 to allow for public debate, she has confirmed. The delay, confirmed in a letter from May to her cabinet colleagues which was seen by City A.M. today, will give cabinet ministers including Boris Johnson and Justine Greening the chance to air their grievances with the choice if Heathrow [...]
Now Aslef’s balloting Southern Rail drivers for industrial action October 18, 2016 The UK train drivers' union Aslef has announced that drivers on Southern Railway will be balloted for industrial action, after last-ditch talks came to nothing. Talks were arranged at the union's head office yesterday, but the union said they "failed to resolve the problems at the heart of this dispute". Read more: Southern Rail commuters had [...]
Eurostar services through Channel Tunnel halted due to power outage October 18, 2016 Eurostar services between London and the Continent through the Channel Tunnel have been halted this afternoon, due to a power outage. "Please be aware that we are currently experiencing disruption to Eurostar services, more details will follow shortly once the full impact has been established," the rail operator said in a statement on its website. Eurostar [...]
Eurostar cuts 80 jobs as it’s buffeted by Brexit and terror attacks October 18, 2016 Eurostar is cutting 80 jobs, following a downturn in passenger numbers and ticket revenue, which the train company has partly attributed to the Brexit vote. The company is also set to unveil a new international timetable in December, though it wouldn't confirm reports that it was cutting two daily trains to Paris and one to Brussels, after [...]
Harley-Davidson sales slam on the brakes in the US but shares bounce October 18, 2016 Harley-Davidson reported a fall in earnings today, after sales fell in the US – but sales in Canada, Europe and Asia Pacific were strong. The figures The iconic motorcycle brand said net income had fallen to $114.1m (£92.7m) in the third quarter, down from $140.3m last year, while consolidated revenue dropped to $1.27bn, from $1.32bn the year before. That pushed earnings per share to $0.64 in [...]
Green bonds could be a good solution to raise sustainable funding for long-term investments October 18, 2016 In a world with too little growth and where most central banks continually miss their inflation targets, there is an acceptance that stimulus measures are not working as hoped. It has been left to the central banks and monetary policy to generate a wealth effect and discourage saving in a bid to promote investment and economic [...]
Ryanair warns sterling decline will hit full year profits October 18, 2016 Shares in budget airline Ryanair dipped today after it warned its full year profits are likely to be hit by the recent declines in sterling following June's Brexit vote. The pound plunged to record lows in the wake of the EU referendum result, and has struggled to recoup its losses since. The carrier reduced its full year [...]
Chris Grayling hints that only one airport will get the green light for now October 17, 2016 Transport secretary Chris Grayling has confirmed he will be the minister announcing the decision on airport expansion, though he has not confirmed when it will be announced. While the prospect of giving the green light to both Heathrow and Gatwick in some shape has gathered pace as an option in recent weeks, Grayling moved to distance himself from such a [...]
With a government decision expected next week, should Heathrow and Gatwick both get new runways? October 17, 2016 Paul Wait, chief executive of the Guild of Travel Management Companies, says Yes. Absolutely yes. Approval to expand both Heathrow and Gatwick would be the most positive economic step-change in recent times for the UK. Businesses either based in our island nation, or wanting to operate in the UK, need greater air capacity. Without the routes [...]
RMT turns down ‘bribe’ from Southern as next three-day strike goes ahead October 17, 2016 Southern’s latest attempt to bring an end to ongoing strike action has been promptly rebuffed by the Rail Maritime and Transport union (RMT). Southern’s last roll of the dice before train guards walk out on another three-day strike at midnight, was putting a lump sum of £2,000 back on the table earlier today. Southern owner Govia Thameslink [...]