Oil prices hit highest levels since March on more vaccine hopes November 23, 2020 Global oil prices rose again today as a third straight Monday brought with it positive news concerning a vaccine for the coronavirus disease. Prices climbed a further two per cent after Astrazeneca and Oxford University said that their vaccine was up to 90 per cent effective. The announcement followed similar statements in recent weeks from [...]
Former IAG boss Willie Walsh to become IATA chief exec November 23, 2020 Willie Walsh, the outspoken former boss of British Airways-owner IAG, is set to become the head of global aviation body IATA. The Irishman stepped down from his role as chief executive of the European carrier group in September. He had been meant to leave in the spring, but agreed to carry out to shepherd IAG [...]
High life for the housebound? BA begins sale of first class stock November 23, 2020 You might not be able to fly first class at the moment, but you could slip into some first class slippers this Christmas after British Airways announced a sale of thousands of stock items. Housebound passengers missing the high life will be able to splash out on the full range of BA items, from champagne [...]
Plug-in hybrid cars emit far more carbon dioxide than advertised November 23, 2020 Plug-in hybrid cars emit far more carbon dioxide than advertised, new research published today shows, just days after the government decided to allow sales of such vehicles to continue to 2035. According to a study done by European body Transport & Environment, three of the most popular hybrids all emitted more carbon dioxide than advertised [...]
Ineos inks deal with Hyundai for hydrogen-powered Grenadier 4×4 November 23, 2020 Sir Jim Ratcliffe’s Ineos will work with South Korean auto giant Hyundai to assess whether its new Grenadier car can be powered by hydrogen fuel cell. The assessment is part of a new deal between the two firms to explore new hydrogen power technologies across a number of sectors. The Grenadier, which is set for [...]
Air France will survive pandemic, minister pledges November 23, 2020 France’s finance minister today said that the government would continue to prop up struggling flag carrier Air France through the coronavirus pandemic. Speaking to Bloomberg TV, Bruno Le Maire said: “I can guarantee the survival of Air France, we decided from the very beginning to support Air France and we will continue to do so”. [...]
GLIL Infrastructure buys 30 per cent stake in Hitachi rolling stock fleet November 20, 2020 Investment fund GLIL Infrastructure today announced that it will buy a 30 per cent equity stake in rolling stock firm Agility Trains East (ATE) from Hitachi Rail. It is believed that the fund will pay around £400m for the stake, in line with what fellow investor AIP Management paid for a similar interest in the [...]
Exclusive: Liberty Steel poised to swoop for stranded Port Talbot steelworks November 20, 2020 Sanjeev Gupta’s Liberty Steel is poised to swoop for Tata’s UK steelworks at Port Talbot in Wales, City A.M. understands. Over the weekend the Indian conglomerate announced that Swedish firm SSAB was in discussions with Tata over buying its assets in the Netherlands, which would lead to the break-up of the firm’s European steel operations. [...]
Global airlines will need $80bn more to stay airborne, IATA warns November 20, 2020 Industry body the International Air Transport Association (IATA) has warned that the world’s airlines will need another $80bn (£60bn) in aid to get through the rest of coronavirus crisis. Governments around the world have already put up $160bn to keep their struggling carriers airborne, but IATA director-general Alexandre de Juniac said more would be needed. [...]
Households face hike in energy bills due to Covid ‘bad debt’ November 20, 2020 Millions of households could see their energy bills hiked by £21 in order to compensate suppliers for unpaid customer debts incurred due to the coronavirus pandemic. Energy watchdog Ofgem is mulling whether to increase the energy price cap for 11m homes to allow suppliers to recoup these “bad debts”. The regulator said that it expected [...]
