HS2: Top civil servant admits to withholding information on cost blow out March 4, 2020 Whitehall’s top transport civil servant appeared to admit to withholding information that showed HS2 would go over budget in a parliamentary committee hearing today. The Department for Transport’s (DfT) permanent secretary Bernadette Kelly answered questions from the Public Accounts Committee on the controversial project. The high speed rail line – connecting London, Birmingham, Crewe, Manchester [...]
Flybe on the brink of bankruptcy after coronavirus hits demand – report March 4, 2020 Flybe could collapse into bankruptcy tonight as coronavirus outbreak saw a slump in demand at the regional carrier, which is reportedly in last ditch rescue talks with the government. Earlier the Financial Times reported that Flybe was set to miss out on a £100m loan from the government, meaning that the embattled regional carrier’s survival [...]
Cathay Pacific fined £500,000 over data protection breach March 4, 2020 Cathay Pacific has been fined £500,000 by the data watchdog for failing to secure its customers’ personal information. The Information Commissioner’s Office (ICO) today said the airline’s computer systems lacked appropriate security measures to protect customers’ personal details. As a result, roughly 9.4m passengers’ data was exposed between 2014 and 2018, 111,578 of whom were [...]
Next Bank of England governor Andrew Bailey: Firms should expect coronavirus help March 4, 2020 The next Bank of England governor has said Threadneedle Street and the government is likely to provide loans to small and medium-sized firms to help them deal with supply chain disruptions from the coronavirus outbreak. Andrew Bailey told MPs that coronavirus was “going to be the first most pressing issue that we face”. He added [...]
Andrew Bailey says he is ‘proud’ of record as FCA chief March 4, 2020 The incoming Bank of England governor Andrew Bailey has defended his record as head of the City watchdog, saying he is “proud of what we’ve achieved” but “not proud of some things that happened”. Critics say Bailey did not deal adequately with a number of financial scandals that occurred on his watch as chief executive [...]
Spitting Image to return after 24 years following Britbox commission March 4, 2020 Spitting Image will return to UK screens 24 years after it was taken off air, as streaming service Britbox named the hit puppet show as its first original commission. The Bafta award-winning TV show, which first appeared in 1984, has earmarked a string of contemporary targets for its satire, including the Duke and Duchess of [...]
Parliament could be shut down to halt coronavirus spread March 4, 2020 Parliament could be shut down in a bid to halt the coronavirus from being transmitted throughout the country, amid fears that MPs and their staff could be inadvertent super-spreaders. Discussions are underway between parliamentary authorities and medical advisers, the Prime Minister’s official spokesman said today. “It’s not for me to speak for parliament but I’m [...]
Barclay brothers receive offers over £1bn for Ritz Hotel March 4, 2020 Sir Frederick Barclay, the billionaire co-owner of the Ritz, has received bids for the 114-year-old hotel exceeding £1bn, according to reports. Press Association said that Frederick Barclay, who owns the Mayfair hotel with his brother David, will not accept a lower offer. The twin brothers, who bought the Grade II listed property for £75m in [...]
Worst investment return in history? Bloomberg bows out of Presidential race March 4, 2020 Billionaire Michael Bloomberg has suspended his presidential campaign after spending more than $500m on advertisements. Bloomberg, one of the world’s richest men, dropped out after failing to win any of the key Super Tuesday Democratic primary states yesterday. He did, however, claim victory in the territory of American Samoa. Instead, it was former Vice President [...]
Volkswagen signs three year electric vehicle home charging partnership with Centrica March 4, 2020 Volkswagen has agreed a three-year partnership with energy supplier Centrica to roll out electric vehicle home charging hardware across the UK. The deal comes after Volkswagen’s commitment to introduce 80 electric and plug-in hybrid models by 2025, with estimated sales of up to 3m a year by that date. In the summer the firm will [...]