Cineworld reportedly mulling CVA to get through to the spring November 19, 2020 Cineworld is reportedly mulling entering a “company voluntary arrangement” (CVA) in a bid to keep the struggling cinema chain alive through to the spring. As a result of new restrictions imposed by the pandemic and decisions by Hollywood execs to delay a number of blockbusters, the company has shut all 657 of its cinemas in [...]
Mitie profit slips a third ahead of Interserve merger November 19, 2020 Outsourcer Mitie said that profit had fallen over a third in the first half of the year due to a loss of revenue from high margin contracts impacted by coronavirus. Profit at the London-listed firm slipped 35 per cent from £33m to £21.5m, with revenue also declining 9.8 per cent to £972m. As a result, [...]
Pace of foreign investment into UK to slow in next 12 months November 19, 2020 Fewer companies are planning to invest in the UK in the next 12 months than were planning to do so back in April, new data has revealed. Accountant EY’s UK Attractiveness Survey shows that the proportion of companies planning such investment has fallen from 10-year highs of 31 per cent in the spring to 25 [...]
Norwegian Air files for bankruptcy protection to save fleet in a bid to survive November 18, 2020 Norwegian Air files for bankruptcy protection to save fleet in a bid to survive
Boeing 737 Max cleared to fly again but industry warns of demand dearth November 18, 2020 Boeing has today won approval from US regulators to begin flying its 737 Max again after the aircraft was grounded due to two fatal crashes. But industry figures warned that the engineer would struggle to ramp up production of the model for several years due to the coronavirus pandemic. It has been nearly two years [...]
Can the government hit the targets in its 10 point climate plan? November 18, 2020 Last night Boris Johnson unveiled his much-touted 10 point plan to drive a “green industrial revolution” in the UK, creating 250,000 jobs in the process. Featuring commitments in sectors such as heating, wind power, nuclear energy, hydrogen and electric vehicles, it has been largely positively received by industry. However, some are concerned that some areas [...]
Rail passenger numbers will only hit 75 per cent of pre-pandemic levels in future November 18, 2020 Rail passenger numbers will only return to 75 per cent of pre-pandemic levels in the future, lawmakers were told today. Dominic Booth, the managing director of Abellio Group, told MPs from the Transport Select Committee that rail firms were “very confident about winning the majority of passengers back” when the crisis ends. However, he added [...]
SSE takes Covid profit hit amid green energy push November 18, 2020 Energy giant SSE today said that profit before tax had fallen a quarter in the first half of the year due to the coronavirus pandemic. The FTSE 100 company said that the pandemic had cost it £115m over the last six months, with full year costs between £150m and £250m forecast. Adjusted profit before tax [...]
European car sales fall in October as new restrictions kick in November 18, 2020 The European car market fell again in October having only recorded its first increase this year the month before, new figures today showed. Last month sales of new cars declined 7.8 per cent to 953,615 units as governments across the continent began to impose new lockdown restrictions. The figures, from trade body the European Automobile [...]
Nissan warns UK business hard to sustain without Brexit deal November 18, 2020 A top executive at Japanese car giant Nissan has warned that it would be hard to sustain its operations in the UK should the country leave the EU without a trade deal. Speaking to Reuters, chief operating officer Ashwani Gupta said: “If [the exit] happens without any sustainable business case obviously it is not a [...]
