Tullow Oil back in black in first half September 15, 2021 Tullow Oil today swung back into profit for the first half of the year and upped its production targets as it looked to get back on a surer footing after several challenging years. The firm booked a profit of $93m for the first six months, having posted a whopping $1.3bn loss in the same period [...]
Javid hints PCR tests for travel to be scrapped September 14, 2021 The health secretary has all but confirmed that the government will axe day two PCR tests for people returning from overseas in the upcoming review of its travel rules. In answer to a question from transport select committee chair Huw Merriman as to whether PCR tests could be replaced by lateral flow tests, Sajid Javid [...]
London Luton summer passenger numbers down two-thirds on 2019 September 14, 2021 Just 1.2m passengers used London Luton airport over the summer months, a fall of two-thirds compared to pre-pandemic levels. As a result of the UK’s ever-changing travel restrictions, the airport said that this was 4.0 per cent than the number in 2020. It called on the government to give the sector more support in order [...]
Government puts £72m into new laser weapons programme September 14, 2021 The government has today unveiled its first ever investment into laser weapons as it seeks to give the armed forces the equipment they need to handle the next generation of battlefield combat. The Ministry of Defence (MOD) will put £72.5m into three “Directed Energy Weapons”, as the technologies are known. Consortia headed by Thales and [...]
Easyjet sent into freefall: Shares continue to tumble September 14, 2021 Shares in budget flier Easyjet continued to tumble today after UBS said on Friday that the carrier would likely lag behind rivals in its recovery from the pandemic. Having tumbled 13.4 per cent yesterday, shares were down another 0.7 per cent this morning. Since Wednesday, when the carrier announced a £1.2bn rights issue, shares are [...]
BP names former RWE Renewables boss new low-carbon chief September 14, 2021 BP has today named former RWE Renewables boss Anja-Isabel Dotzenrath as its new head of renewable energy as it accelerates its push into low-carbon power alternatives. Her appointment comes after current head of low carbon and natural gas Dev Sanyal announced he was standing down after 32 years at the firm. An electrical engineer by [...]
Trainline ticket sales top £1bn as rail recovery gathers steam September 14, 2021 Trainline’s ticket sales topped £1bn for the first half of this year for the first time since the start of the coronavirus pandemic as rail travel picked up sharply. Ticket sales jumped 179 per cent in the period ending August 2021 compared to 12 months ago, when much of the rail network sat idle due [...]
Aston Martin owner Stroll to invest £200m in new HQ for F1 team September 14, 2021 Aston Martin owner Lawrence Stroll will put up to £200m into a new manufacturing headquarters for the marque’s Formula 1 team. In an interview with the FT, the Canadian billionaire said he was aiming to increase the team’s valuation to £1bn over the next five years. The 37,000 square metre campus is located near British [...]
UK unemployment rate falls amid August hiring spree September 14, 2021 The UK unemployment rate fell 0.3 per cent in the last quarter as businesses continued on a hiring spree to keep pace with the economic recovery from the pandemic. According to the Office of National Statistics, the unemployment rate now stands at 4.6 per cent, in line with economists’ forecasts. The fall was powered by [...]
CDR agrees pensions deal with Morrisons as takeover nears September 14, 2021 Private equity house Clayton, Dubilier & Rice (CDR) looks to have shored up its grip on takeover target Morrisons after coming to an agreement with trustees over the supermarket’s pension schemes. The supermarket has been at the heart of a bidding war between CDR and fellow private equity firm Fortress, with the former agreeing a £7bn [...]
