Service sector optimism grows at fastest rate on record May 27, 2021 Optimism over the future of the service sector increased at the fastest pace on record in the three months to May as the UK’s economic recovery from the pandemic gathered steam. According to the CBI’s latest quarterly Service Sector Survey, sentiment about the general outlook for the professional services sub-sector jumped from +23 per cent [...]
Uber strikes deal with GMB union over driver representation May 26, 2021 Union GMB will now represent Uber drivers after striking a deal with the ride-hailing firm, it was announced this evening. The firm’s 70,000 drivers will now be able to choose to be represented by the union if they wish, in a first for the sector. The deal comes months after Uber said it would treat [...]
Activist hedge fund wins Exxon board seats in seismic day for big oil May 26, 2021 The oil industry was rocked today as hedge fund minnow Engine No. 1 saw two of its nominees elected to behemoth Exxon Mobil’s famously insular board. Engine No. 1’s victory, which came after a months-long fight with the Texas-based firm, could pile pressure on the company to speed up its diversification away from fossil fuels. [...]
Exclusive: Three-quarters of London firms set for office return by September May 26, 2021 Almost three-quarters of London businesses are planning a return to the office by September, a new survey by Addison Lee has revealed. Of the 142 firms asked by the taxi firm, 74 per cent said that they would be making a return to their workplace over the coming months. And more than half of these [...]
Ford aims for 40 per cent electric car sales by 2030 May 26, 2021 Ford today said that it was aiming for 40 per cent of its sales to be of electric cars by 2030, sending shares up 7.0 per cent today. The announcement came as the Michigan-headquartered firm unveiled a new strategy, call Ford+, that will see it put $30bn into electrification over the next decade. That is [...]
Nissan ‘in talks’ to build Sunderland battery gigafactory May 26, 2021 Nissan is reportedly in talks with UK ministers over plans to build a new battery gigafactory at its existing site in Sunderland. The new facility, the FT reported, would be run by the Japanese car giant’s subsidiary Envision AESC, and would produce enough batteries for 200,000 electric cars each year. Nissan said it had “no [...]
Dutch court rules that Shell must increase emissions reductions by 2030 May 26, 2021 A Dutch court has today ruled that oil giant Shell must reduce emissions by more than it had planned by 2030, in what could be a landmark ruling for the industry. Judges at a lower court in the Hague said that the Anglo-Dutch firm was legally obliged to cut greenhouse gas emissions by 45 per [...]
France to make UK travellers self-isolate over variant fears May 26, 2021 People entering France from the UK will be forced to isolate over fears of spreading the so-called Indian Covid-19 variant. The French government spokesman confirmed that all passengers crossing the Channel would have to self-isolate. “France will set up compulsory isolation for people coming from the UK,” Gabriel Attal said, with more details to follow in the [...]
Norwegian Air emerges from restructuring with wings clipped May 26, 2021 Norwegian Air has today emerged from a six month restructuring process, defying those who thought the pandemic would spell the end for the carrier. However, despite surviving the worst aviation crisis on record, the airline will return to the skies in utterly different shape – and much smaller – than it was before the pandemic [...]
Rishi Sunak to propose new powers to block London listings over security fears May 25, 2021 Chancellor Rishi Sunak is set to propose new powers which will enable companies to be prevented from listing on London’s financial markets over security concerns. Sunak will launch a consultation on the plan in the next two weeks as the government tries to crack down on “dirty money” in London’s financial bodies. A Treasury spokesperson [...]
