Rail industry adds voice to calls for Eurostar support January 18, 2021 The rail industry has thrown its weight behind calls for the government to prop up the struggling Eurostar rail link between the UK and the continent. Yesterday a group of London-based businesses wrote to ministers demanding swift action to safeguard the Eurostar’s future. Now the Rail Industry Association (RIA), a trade body which represents the [...]
Audi latest carmaker to delay production amid parts shortages January 18, 2021 Audi has become the latest carmaker to be forced into delaying production due to a global shortage of semi-conductors. The German auto giant has had to put more than 10,000 of its staff on furlough as a result of the lack of chips, chief executive Markus Duesmann told the FT. The production pause comes after [...]
Dominic Raab demands immediate release of Alexei Navalny January 18, 2021 The UK has demanded the immediate release of Alexei Navalny after he was arrested at a Moscow airport yesterday. Kremlin critic Navalny was detained by police as he got off the plane on his first return to Russia since being poisoned last year. Writing on Twitter, foreign secretary Dominic Raab said: “It is appalling that [...]
Transport for London facing £2bn a year funding gap, warns report January 15, 2021 Transport for London (TfL) is facing a funding gap of up to £2bn every year as a result of Covid-19, a new report has found. The pandemic has forced passengers off London’s transport network in record numbers, causing its finances to crumble. The operator has already received two bailout deals with a combined worth of [...]
Norwegian Air scraps long-haul flights, ditches Gatwick base and cuts 2,000 staff in bid for survival January 14, 2021 Norwegian Air scraps long-haul flights, ditches Gatwick base and cuts 2,000 staff
FTSE 100 and Wall Street on the rise on Biden stimulus hopes January 14, 2021 The FTSE 100 and Wall Street rose today on the news that President-elect Joe Biden will tonight unveil a fresh trillion stimulus package to boost the US’ flagging economy. Biden is expected to reveal details of the deal, which is expected to top $1.5 trillion, in an television address tonight. London’s premier index rose 0.5 [...]
Britishvolt: The batterymaker leading the charge towards the 2030 diesel car ban January 14, 2021 2020 was a dire year for the UK car industry, but buried amid the reports of tumbling vehicle sales was one piece of promising news. For the first time ever, sales of electric vehicles comprised 10 per cent of all new car sales, figures from auto body the Society for Motor Manufacturers and Traders (SMMT) [...]
Government launches legal action against former Carillion directors January 14, 2021 Ministers have launched legal action against eight former directors of collapsed outsourcing giant Carillion, a move that could see them banned from serving as directors for up to 15 years. Nearly three years after the firm went bust, business secretary Kwasi Kwarteng has brought proceedings against the former chairman, two chief executives, two finance chiefs, [...]
Recruiter Hays sees fees slip a fifth as hiring slump goes on January 14, 2021 Recruitment firm Hays this morning said that second quarter net fees fell 19 per cent as the pandemic continued to squeeze hiring around the world. However, the fall was better than that recorded in the first quarter, where fees dropped 29 per cent. As a result, the FTSE 250 hiring firm said that operating profit [...]
Wizz Air launches €500m debut bond January 14, 2021 Wizz Air today said that it had sold €500m in three-year bonds at an interest rate of 1.35 per cent. The budget carrier said that the bonds, which are due in 2024, are part of plans to raise €3bn from its euro medium-term note programme. The Hungarian flier said that proceeds from the sale would [...]
