Uber ups profit guidance as ride-hailing and food delivery continues to boom March 7, 2022 Shares in Uber have climbed nearly four per cent in premarket trading this morning, with the tech giant raising its first-quarter profitability guidance thanks to a record number of cab journeys and booming food delivery orders. Uber said in a filing that it now expects adjusted earnings before interest, taxes, depreciation and amortisation of $130m (£98m) to [...]
UPS loses $2bn lawsuit against EU for veto on TNT offer February 23, 2022 Logistics giant UPS has lost a $2bn lawsuit against EU regulator after the bloc rejected its takeover proposal of Dutch rival TNT. The EU Commission had in 2013 stopped the $5.9bn acquisition on the grounds that UPS didn’t offer enough reassurances to claims that the merger would hinder consumer’s choice. The group then decided to [...]
Transport network faces severe disruption as Storm Eunice hits London February 18, 2022 From the early hours of this morning Storm Eunice has hit the UK, bringing with it winds of up to 100mph and causing disruption all over the country. Following yesterday’s warning, the Met Office raised another red alert today, adding the South East and London. “These are rare, we only issue them when there is [...]
Transport crisis: Key bus routes set to be axed as government support nears end February 14, 2022 Essential bus routes may be axed as soon as the end of this month if emergency government funding support is not extended, transport firms have warned.
Local authorities sue European truck makers over price-fixing scheme December 31, 2021 More than 100 UK local authorities are taking European truck manufacturers such as Volvo and Daimler to court over a price-fixing scheme. Basildon’s and North Tyneside’s councils as well as 22 fire and rescue services are seeking £450m worth of damages five years after the European Commission ruled that Volvo, Daimler, Iveco, DAF and MAN [...]
TfL drivers on Central and Victoria tube lines to strike EVERY Friday and Saturday until June 2022 December 23, 2021 London Underground drivers plan to strike every weekend for the next six months, until June 2022, as a row over night tube rotas intensifies. The Rail, Maritime and Transport union (RMT) said this evening that its members will stage overnight walkouts on the Central and Victoria lines from 8.30pm every Fridays and Saturdays until June [...]
HS2 signs £2bn deal to create the UK’s fastest trains December 9, 2021 HS2 has signed a £2bn contract with manufacturers Hitachi and Alstom in a bid to produce the fastest trains ever seen in Britian.
Plan B to “inevitably impact” transport, stakeholders say December 9, 2021 The new set of restrictions outlined yesterday by the government will “inevitably impact” Transport for London (TfL), as more Londoners will be required to work from home. Nick Bowes, chief executive at think tank Centre for London, said that passenger numbers have already started dipping since the new variant emerged, “as people change their behaviour [...]
Griffon Hoverwork wins major hovercraft export contract in Japan November 30, 2021 UK-based hovercraft giant Griffon Hoverwork confirmed it has won a major new contract in Japan, supplying three new 12000TD craft to the country. Work on the first hovercraft is set to start at the end of January next year, with the last craft to be delivered to the the Oita Prefecture government in Japan in [...]
HS2 plans to scrap line to Leeds announced before value for money analysis completed November 28, 2021 The decision to scrap HS2's eastern leg from East Midlands to Leeds was taken without a formal cost-benefit analysis of the remaining line.