Tesla seeks to cash in on record run with $5bn share sale September 1, 2020 Tesla today said that it would sell $5bn (£3.7bn) in new shares as the electric car maker seeks to cash in on a record rally which has seen the stock rise nearly 500 per cent this year. According to a filing to the US Securities and Exchange Commission, the new shares will be sold “from [...]
AA given takeover talks extension as rivals mull joint bid September 1, 2020 Motoring association the AA has been given an extra four weeks to continue negotiations with potential buyers, it was announced today. The new deadline for its suitors to make an offer for the firm is now 29 September, but there are growing fears that a hotly anticipated bidding war for the company’s stock may be [...]
Greencoat Wind to buy SSE wind farm stake for £350m September 1, 2020 Renewable investment fund Greencoat Wind will buy SSE’s 25.1 per cent stake in two wind farms off the coast of Cumbria for £350m. The Walney wind farms, which are situated nine miles off the Cumbrian coast, have a capacity of 367.2 megawatts. Danish power company Orsted holds a 50.1 per cent stake in the assets, [...]
Retail footfall jumps as consumers get their fill of Eat Out to Help Out scheme September 1, 2020 Footfall across the UK’s retail destinations rose six per cent last week as consumers rushed to take advantage of the last full week of the Eat Out to Help Out initiative. According to retail analysts Springboard, footfall increased across all three types of shopping destination, giving the sector its best week since the end of [...]
Government extends emergency agreement for Great Western Railway September 1, 2020 First Group this morning said the Department for Transport (DfT) has extended its emergency deal to keep franchise Great Western Railway (GWR) running for another nine months. At the end of March, First Group signed a new contract with DfT to run the franchise for three years, with the option to extend the deal by [...]
Wizz Air to fly at 60 per cent capacity in second quarter due to new restrictions September 1, 2020 Low-cost carrier Wizz Air this morning said that it expected to carry 60 per cent of its capacity in the second quarter due to new travel restrictions being imposed as a result of the coronavirus pandemic. In Hungary, the budget airline’s home market, foreign travellers will from today only be able to enter the country [...]
‘Chaotic’ quarantine regime ‘destroying’ economy, says Willie Walsh September 1, 2020 The boss of British Airways’ parent company IAG has accused the government of destroying the economy through its “chaotic approach” to imposing coronavirus quarantine restrictions. Writing in the Times, Willie Walsh said that the “ever-shifting list” of countries requiring travellers to self-isolate meant that the UK has “officially hung up the closed sign”. Walsh’ comments [...]
The City View: Richard Holt of Oxford Economics on the future of cities August 28, 2020 In this episode Christian is joined by Richard Holt, head of cities at the consultancy and research outfit Oxford Economics. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Richard explores the trends and changes underway in cities across the world and offers a view of where there may be winners and losers from the great Coronavirus shakeup. [...]
Sir Graham Brady calls on ministers to get workers back to the office August 27, 2020 An influential senior Tory MP has urged the government to give workers a “clear and consistent message” that it is safe to return to the office. Sir Graham Brady, the chair of the 1922 committee of backbench Conservatives, said that if ministers did not do so there would be “devastating consequences” for the country’s towns [...]
EDF to shut Hunterston nuclear plant in January 2022 August 27, 2020 EDF today announced that the Hunterston B nuclear power station in Scotland would begin decommissioning in January 2022 at the latest. The plant, which began generating electricity in 1976, provides enough power to run 1.7m homes. It had been expected that the plant would continue to operate until March 2023, but EDF said it had [...]
