Shipping firm TMI announces $250m London float April 29, 2021 A shipping firm planning to specialise in smaller cargo vessels has this morning announced plans for a $250m (£180m) London listing. Taylor Maritime Investment (TMI) said it would use the proceeds from the float to buy a fleet of two dozen ships in the “handysize” and “supramax” classes. These types of vessel, which can carry [...]
Shell hails ‘strong start’ and hikes dividend on higher oil prices April 29, 2021 Oil giant Shell this morning hailed a “strong start” to 2021 as the Anglo-Dutch firm recorded a massive increase in earnings on the back of higher oil prices. The FTSE blue-chip said that earnings rose to $3.2bn, up from $393m in the final quarter of 2020. As a result of the improvement in trading, Shell [...]
Weir inks £36m Ferrexpo deal as profit stays on track April 29, 2021 Engineering firm Weir Group this morning said it had won a £36m contract to provide energy saving solutions to iron ore firm Ferrexpo. The contract win came as the FTSE 100 firm said that it was on track to deliver profit in line with market expectations this year. The deal with Swiss firm Ferrexpo will [...]
Aviation woes keep Meggitt pinned down in first quarter April 29, 2021 Aerospace engineer Meggitt said that the ongoing aviation crisis due to the pandemic had continued to hold it back in the first quarter. The FTSE 250 firm said that revenue was down 29 per cent for the period, with its civil aerospace division down 46 per cent so far this year. However, it said that [...]
Airbus profits up but crisis ‘not yet over’ for planemaker April 29, 2021 Planemaker Airbus saw its earnings rise in the first quarter but warned that the crisis engulfing aviation due to the pandemic “was not yet over”. The world’s largest commercial jetmaker said adjusted operating profit rose 147 per cent to €694m (£603m) led by its commercial jet and helicopter activities, as revenue slipped 2 per cent [...]
Car production rise for first time since 2019 after Covid collapse April 29, 2021 UK car production rose dramatically in March, a year after the coronavirus pandemic forced factories across the country to shut. Output rose 46.6 per cent against 12 months ago, with a total of 115,498 cars built, up from 78,767 in March 2020, new data from auto trade body the SMMT showed. However, the figure is [...]
GSK profit drops sharply due to pandemic but beats forecasts April 28, 2021 Pharma giant GSK saw its profit and turnover slip in the first quarter due to the impact of the coronavirus pandemic, but came in ahead of analyst expectations. The FTSE 100 firm said that adjusted operating profit fell 30 per cent in the period, down to £1.9bn. Turnover slid 18 per cent to £7.4bn, it [...]
Spain set to open doors to Brits from June April 28, 2021 Spain will open its doors to British holidaymakers from June after discussions between the two governments on using digital health passes to ensure safe travel. Fernando Valdes Verelst, Spain’s tourism minister, said that it was pushing for Britain’s so-called “vaccine passport” to be “mutually recognised”. His comments came as transport secretary Grant Shapps confirmed that [...]
Santander UK profit soars two-thirds April 28, 2021 Santander UK hailed a “strong” set of results this morning as profit before tax rose nearly two-thirds in the first quarter. The bank said that pre-tax profit was up 61 per cent, jumping from £114m to £184m over the three month period. It added that its return on tangible equity (RoTE), a key metric, was [...]
Driverless cars set for UK roads by the end of the year April 28, 2021 Britain’s roads could see their first driverless cars by the end of the year after the Department for Transport gave an autonomous driving system the green light today. Officials said that the technology could improve road safety by reducing human error, which contributes to over 85 per cent of accidents. In a statement this morning, [...]
