UK firms receive over £5bn in subsidies for company cars October 5, 2020 UK companies received a total of £5.1bn from the government in subsidies for buying company cars, new data released today showed. According to a survey carried out by campaign group Transport & Environment, European governments as a whole have shelled out €32bn (£29bn) on such subsidies, most of which goes towards diesel and petrol vehicles. [...]
Worst September on record for new car registrations October 5, 2020 New car registration fell to their lowest level since records began in September in a further blow for the battered auto industry. Just 328,041 cars were registered last month, down 4.4 per cent lower year-on-year, new figures from the Society of Motor Manufacturers and Traders (SMMT) showed. That’s the weakest performance since the introduction of [...]
Mulberry swings to full year loss as coronavirus shuts down high street October 5, 2020 Fashion house Mulberry fell to a £14.2m loss in the last financial year, the firm announced today, as the coronavirus pandemic derailed the firm in its final month of trading. The firm said that it had been on course to report a profit for the second half of the year before the virus shut down [...]
Weir Group sheds oil and gas division in $405m Caterpillar deal October 5, 2020 Weir Group this morning announced that it would sell its oil and gas division to construction firm Caterpillar for $405m (£314m). Shares in the company jumped 15.6 per cent as markets opened as traders cheered the deal. The FTSE 250 company has been mulling the sale of the division for about six months as it [...]
Wizz Air sees capacity drop in September as quarantine bites October 5, 2020 Budget carrier Wizz Air saw capacity drop 20 per cent in September as the imposition of quarantine restrictions hampered the airline industry’s nascent recovery. The Hungarian airline flew 1.56m passengers last month at a capacity of 60 per cent, down from 2.4m passengers at 80 per cent in August. Year-on-year, over 60 per cent fewer [...]
Ursula von der Leyen in self-isolation October 5, 2020 European Commission president Ursula von der Leyen is self-isolating after coming into contact with someone who had tested positive for coronavirus. In a tweet, she said that she had attended a meeting with a person who had contracted the virus last Tuesday, and will self-isolate until tomorrow. “I’ve been informed that I participated in a [...]
Give e-scooters the green light, lawmakers urge October 2, 2020 MPs have called on the government to legalise e-scooters in the UK, saying that they could offer a low-cost and environmentally friendly alternative to cars. In July, transport secretary Grant Shapps brought forward 12-month long trials of the vehicles in light of the coronavirus pandemic. Trials have been already announced in four parts of the [...]
Quarantine: Turkey and Poland added to self-isolation list October 1, 2020 More countries have been added to the UK's quarantine list. Passengers aarriving from Turkey and Poland will have to self-isolate from Saturday
US airlines put 32,000 staff on unpaid leave October 1, 2020 The US’ biggest airlines have begun to put their employees on unpaid leave as the wait for a new economic stimulus package goes on. American Airlines and United Airlines said that they would place 32,000 workers on such arrangements amid gridlock at the US Capitol on a new deal. American will furlough 19,000 employees, including [...]
Global oil prices plunge over fresh demand fears October 1, 2020 Global oil prices dropped sharply this afternoon amid fears that the continuing rise in coronavirus cases would drive demand down again. Worldwide standard Brent crude lost 5.2 per cent to trade at $40.05, while US benchmark West Texas Intermediate dropped six per cent to stand at $37.75. Earlier this week, the number of people who [...]
