CMA investigating airlines over lack of refunds for cancelled flights December 16, 2020 The UK’s competition watchdog has announced that it will investigate the country’s airlines over their failure to offer refunds to customers who could not fly due to the pandemic. As a result of travel restrictions due to coronavirus, thousands of passengers have had their flights cancelled over the course of the year. Consumer groups have [...]
Rail fares to rise above inflation for first time in eight years December 16, 2020 Rail fares will rise above inflation for the first time in eight years next year, although the hike will be delayed until March. The Department for Transport (DfT) announced that fares would be hiked 2.6 per cent next year, despite calls to freeze ticket prices in a bid to encourage people back onto trains after [...]
Supreme Court gives Heathrow third runway the green light December 16, 2020 The Supreme Court has this morning ruled that Heathrow’s controversial third runway expansion plans can go ahead. The verdict means that the UK’s highest court has overturned the Court of Appeal’s February decision to block the £14bn project on environmental grounds. However, in a year in which air travel has plummeted to historic lows due [...]
FTSE off to fast start as global markets rise on vaccine rollout December 16, 2020 The FTSE 100 surged upwards this morning as markets round the world hailed the rollout of coronavirus vaccines. The blue-chip index was up one per cent an hour after markets opened, with energy and housebuilder stocks leading the charge. Investors were also buoyed by hopes that the UK could still sign a free trade deal [...]
Michael Gove to hold Covid Christmas talks with devolved nations over ‘rethink’ December 16, 2020 Talks over the plans to relax coronavirus restrictions over the Christmas period will continue today amid concerns that doing so could lead to a surge in cases of the disease. Cabinet Office minister Michael Gove will continue to lead negotiations with representatives from the UK’s devolved administrations, having failed to reach agreement yesterday. Under the [...]
Mobility firm Bolt raises €150m in biggest ever funding round December 16, 2020 Mobility firm Bolt this morning announced that it had raised €150m (£135m) from investors as the battle to take control of the urban transport market hots up. The firm, which is London’s second biggest ride-hailing app, said that the funding round was its biggest yet. Bolt follows fellow mobility firms Tier and Voi in raising [...]
BP takes majority stake in carbon offset firm as green push continues December 16, 2020 BP has today taken a majority stake in carbon offset firm Finite Carbon as it continues with plans to transition to a low-emission business model. The oil giant is one of several commodities firms buying into the carbon offset sector, banking on the rising price of emissions credits to offset falling oil prices. Finite Carbon, [...]
‘Test to release’ travel scheme off to ‘chaotic’ start December 15, 2020 The government’s new “test to release” system to reduce quarantine got off to a “chaotic start” this morning after it transpired that only three of its approved test providers were open. Under the scheme, which was announced on 24 November, travellers who wish to leave quarantine early can do so by taking a coronavirus test [...]
Chemring boss: Pandemic has highlighted ‘risk’ of biological security threats December 15, 2020 The coronavirus pandemic has educated the world about the potential threat that biological warfare could pose in the future, Chemring’s chief executive said this morning. Speaking to City A.M., Michael Ord said that biological security was set to become far more important as a result of this year’s unparalleled upheavals. “The whole area of biosecurity [...]
Unemployment rate rises less than expected but redundancies hit record high December 15, 2020 The UK’s unemployment rate rose to 4.9 per cent in the three months to October, a lower increase than had been expected. The rate was up 0.1 per cent from the three months to September, when it stood at 4.8 per cent, new ONS figures showed. Economists polled by Reuters had expected the jobless rate [...]
