Air Astana to outline plans for London IPO September 19, 2016 Kazakhstan flag carrier Air Astana will detail plans for its initial public offering today, with London in line to be chosen for a secondary listing. In a presentation today it’s expected the company will outline how much of it will be sold. The IPO is currently scheduled for between October next year and October 2018. [...]
Chinese group gatecrashes National Grid’s £11bn gas pipeline auction September 18, 2016 A group of Chinese investors are eyeing a bid for National Grid’s gas pipelines that supply nearly 11m homes and businesses. The group is targetting a majority stake in the key national infrastructure. It’s thought the consortium includes Fosun and the state behemoth China Gas. “Regardless of their identity, all bidders will have to go through [...]
Cathay family paid £60m dividend despite profit slump September 18, 2016 The family company which owns Cathay Pacific has paid itself a dividend of £60m, even though pre-tax profits fell by 20 per cent. John Swire & Sons, a 200-year old conglomerate which is still largely owned by the Swire family, has a large portfolio of companies in various sectors including bakeries, offshore oil exploration and [...]
London’s black cab drivers are considering a legal challenge against accepting card payments September 18, 2016 Cab drivers are considering whether to launch a legal challenge over the mandatory introduction of card payments in black taxis across London, as they put on hold plans for protests on the capital's roads this week. Passengers will be able to pay for journeys by credit or debit card under rules due to come into force by the end of [...]
Mayor of London slammed over RMT union’s planned Tube strikes on Hammersmith & City and Circle Lines September 15, 2016 Mayor of London Sadiq Khan has been slammed today over his lack of response to a Tube strike planned by drivers on the Hammersmith & City and Circle Lines, due to start tonight. The RMT union said this morning that, following an "overwhelming vote for action" by drivers who are union members, 24 hours of strike [...]
TfL warns Hammersmith & City and Circle Line workers to go on strike Today and Friday September 14, 2016 Transport for London (TfL) has warned Londoners that there may be a strike on the Circle and Hammersmith & City lines today and tomorrow. Some drivers on these two lines who are RMT union members are currently planning to strike from 21:30 on Thursday 15 September for 24 hours, TfL said. which will see some drivers not book [...]
The Mayor of London has opted to protect privilege not competition September 14, 2016 Sadiq Khan’s crackdown on London’s private hire industry is a sop to a privileged monopoly that distorts competitive markets and fails to defend consumer interests. As private hire services make inroads into London’s black cab monopoly, the case to protect them from decline and enforce consumer safety may sound reasonable. But Khan’s reforms go beyond safety and are [...]
Sharing economy stalwart Zipcar zooms into Belgium with its first free-floating car share service September 14, 2016 US car-sharing network Zipcar zoomed into its seventh European market today and launched its first free-floating service. The free-floating system allows Zipcar members to pick up and drop off one of the company's hired vehicles at any location within a set geographical area, rather than in a specified spot. Its new service is being launched in [...]
Delays at King’s Cross and Moorgates stations due to derailed train at Welwyn Garden City September 13, 2016 Commuters are facing delays at King's Cross station after a train derailed at Welwyn Garden City. According to Great Northern rail, the low speed derailment of an empty train at Welwyn Garden City late last night is causing disruption to journeys between Stevenage and London Kings Cross and Moorgate. As a result of the incident, the company [...]
Uber accuses Sadiq Khan of favouring London’s black cabs September 13, 2016 Uber has accused the Mayor of London Sadiq Khan of discriminating against its drivers and favouring black cabs in the capital with new measures to regulate the industry. In an email sent to customers, Uber claims that thousands of minicab drivers could lose their livelihoods with a knock on effect on waiting times and availability of cars. [...]