Sheffield Forgemasters nationalised amid fears of collapse July 28, 2021 The Ministry of Defence (MoD) has bought out Sheffield Forgemasters, a key supplier to the UK’s nuclear programmes, it was confirmed today. The firm said that the £2.6bn investment would “secure Sheffield Forgemasters’ role as a critical supplier to the next generation of UK Defence programmes, while continuing our independent commercial activities.” After increasing concerns [...]
Aston Martin triples car sales but still slides to £90m loss July 28, 2021 Aston Martin plunged to yet another loss this morning despite selling more than three times the number of cars it did in the first half last year. The classic British brand posted a £90.7m pre-tax loss, a markedly improved effort after losing £227.4m in the same period in 2020. Revenue also increased 242 per cent [...]
Wizz Air bullish on summer recovery despite €114m loss July 28, 2021 Low-cost carrier Wizz Air reiterated that it would return to pre-pandemic levels of flying over the summer months after falling to a €114m loss in the first quarter. The Hungarian airline, which flew at just 33 per cent capacity in the first period due to continued travel restrictions across Europe, said it expected to hit [...]
Rio Tinto boosts dividends as earnings double amid iron ore boom July 28, 2021 Mining giant Rio Tinto this morning announced that it would pay out $9.1bn in dividends after earnings more than doubled in the first half. The FTSE blue chip said that the increase was due to a boom in iron ore prices due to massive demand from China. Rio Tinto, which is the world’s biggest producer [...]
MPs join call to end electric vehicle charging ‘postcode lottery’ July 28, 2021 MPs have added their voice to calls for the government to lay out a clear plan for how it will deliver sufficient charging infrastructure for electric vehicles across the UK by 2030. A new report from the transport select committee said that it was vital for ministers to work with the National Grid to identify [...]
Court of Appeal reopens landmark £5bn lawsuit against BHP for Brazil dam collapse July 27, 2021 London’s Court of Appeal has today decided to reopen a historic £5bn lawsuit against mining giant BHP over the collapse of a dam in Brazil in 2015. In an unexpected u-turn, the court said that a group of 200,000 claimants would be able to appeal against a lower court’s decision to throw the case out [...]
Mitie doubles first quarter revenue on back of Interserve acquisition July 27, 2021 Outsourcer Mitie today said that it had doubled its first quarter revenue as the firm’s acquisition of rival Interserve’s facilities management business paid instant dividends. The FTSE 250 firm said that revenue rose to £930m in the first quarter, up 104 per cent on the £455m that it booked in the same period last year. [...]
RMT confirms Tube strike for August July 27, 2021 The RMT union has confirmed for four days of strikes on the Tube in August in protest over plans to abolish the Night Tube train drivers’ grade. Having first called the strike earlier this month, it confirmed it would go ahead after failing to make any progress in talks with the London Underground company. The [...]
Lorry driver shortage ‘could hit Black Friday and Christmas’ July 27, 2021 A senior executive at one of the UK’s largest logistics companies has warned that supply chains are facing six to 12 months of pressure due to the current shortage of lorry drivers. Ian Keilty, chief operating officer at FTSE firm Wincanton, said that both Black Friday and Christmas shopping could be hampered by the shortfall. [...]
Fears over Spain and Greece grow as holidaymakers await travel review July 27, 2021 There are growing concerns that Spain and Greece could be added to the government’s “amber plus” travel list in the coming days after a surge in Covid cases. Yesterday Number 10 has confirmed it will release a review this week into its traffic light system for international travel, with the status of vaccinated tourists to [...]