BP swings back to profit but coronavirus weighs on demand October 27, 2020 BP returned to a small profit in the third quarter, but warned the pace of recovery from Covid-19 remains uncertain as the pandemic weighs on fuel demand and refining profits. The oil major reported a profit of $86m (£66m) profit for the three months to 30 September, beating analysts’ expectations of a $120m loss. The [...]
UK legal case launched against Fiat Chrysler over diesel emissions October 27, 2020 Auto giant Fiat Chrysler (FCA) is facing a £5bn UK legal challenge over claims that the carmaker concealed the true levels of emissions that its vehicles produced from customers. International law firm PGMBM has issued a case in the High Court alleging that up to half a million cars manufactured since 2008 were fitted with [...]
Aviation watchdog slams Heathrow’s legal threats over £1.7bn airport charge hike October 26, 2020 The Civil Aviation Authority (CAA) has hit back at Heathrow Airport over threats that it will take the regulator to court unless it budges on its decision to reject Heathrow’s attempt to increase airport charges by £1.7bn. Earlier this month, the CAA turned down the request from the UK’s largest airport, which wanted to hike [...]
British Airways ends in-flight food partnership with M&S October 26, 2020 British Airways today confirmed that it is set to end its three-year partnership with M&S to provide food on short-haul trips for economy-class passengers. A spokesperson for the airline confirmed the move: “We proudly launched our buy-on-board catering in 2017 with high street favourite, M&S. “After a successful journey, we are headed off on a [...]
Bombardier Belfast deal to complete this week October 26, 2020 A $1.2bn (£900m) deal for Bombardier’s Belfast facility will complete this week, a year after it was first announced. Kansas-based Spirit Aerosystems will purchase the Canadian firm’s Northern Irish unit – the largest employer in the region – along with facilities in Morocco and Texas. It now expects cash proceeds of $275m, 45 per cent [...]
Government risks ‘wasting taxpayer money’ through emergency loan schemes October 26, 2020 The chair of the Business, Energy and Industrial Strategy committee has criticised the government over its management of emergency loans for businesses affected by the coronavirus pandemic. Darren Jones MP warned that unless ministers “learn lessons” from initial rounds of support, they risk “wasting more taxpayer money”. In particular, he raised concerns over the fact [...]
Post Office to axe 600 cash machines October 26, 2020 The Post Office will cut 600 of its free to use cash machines after a decision to take the assets in-house. Over the next four years, the Post Office will invest £16m into 1,400 ATMs across its estate. At the moment, there are 2,000 cash machines at its branches, but these are owned and operated [...]
Oil prices fall on fears of production boost amid surge in Covid-19 cases October 26, 2020 Global oil prices dropped sharply this morning amid fears of a ramp in production even as governments implement more stringent restrictions to cope with a surge in coronavirus cases. Worldwide standard Brent crude shed 2.4 per cent to fall to $40.76, while American benchmark West Texas Intermediate dropped 2.6 per cent to stand at $38.78. [...]
Exclusive: Tram risk audit at time of Croydon crash was never revealed to TfL safety panel October 26, 2020 The Croydon tram network was undergoing a safety audit at the time of the fatal Sandilands crash in 2016 – a fact not revealed to the chair of TfL’s safety panel at the time. The former board member, tasked with overseeing investigations into the disaster, described the failure to inform him as “beyond shocking.” Over [...]
Aircraft orders flatline in September after worst ever quarter October 26, 2020 No commercial aircraft were ordered last month as the global aviation industry recorded its worst ever quarter on record due to the coronavirus pandemic. From July to September, there were just 13 orders placed for planes, a decline of 91.4 per cent on the same quarter last year. There were four orders in July, and [...]
